Читать книгу Start & Run a Copywriting Business - Steve Slaunwhite - Страница 44

How much money will you need to get started? Before I made the move to full-time self-employment, I read many books on the subject. The general consensus is that you should have the equivalent of six months’ salary and three months’ anticipated business expenses in the bank before you make the leap. I recommend you have 9 to 12 months’ savings. The more cash you have in reserve, the less desperate you are going to feel.

Why do you need a healthy bank account before you start your business? Chances are, it’s going to take some months before you realize a consistent personal income from your freelancing efforts. It takes time to find and establish clients, send invoices, and receive checks from clients. In the interim, you have rent or mortgage payments, bills, and business expenses.

When I was ready to quit my day job and run my copywriting business on a full-time basis, I was fortunate to have set aside six months in personal and business expenses. But, in addition to this, I also had the beginnings of a strong client base from my part-time efforts, a fully equipped office, marketing materials, and business cards. If I was starting from scratch, with no office or clients, it would have been a much tougher go.

“But I don’t have six months’ cash in the bank,” you might say. “Can I still start my copywriting business?” Of course you can. I know many people who have started with nothing and built successful home-based businesses. But it’s not easy, and it is financially stressful — especially if you have no other sources of income. It can be done, but if there is any way you can start part time while keeping your day job, or start full time with some money saved in a contingency fund, you will be much better off.

Even if you kick off your copywriting business with a couple of quick assignments, it takes time to get paid. You’ll need to complete those assignments. That could take several days or even weeks. Then you have to invoice your client. Then you have to wait for the client to send you a check. How long do clients take to pay? Regardless of the terms of your invoice, in my experience it takes 45 to 90 days for a client to process your invoice and send payment, sometimes longer. Sixty days is average. So, by the time you receive any money from a particular copywriting job, three or four months can easily slip by.

Assuming you need to purchase everything to start, you will require the money for all of it plus a six-month reserve for personal income needs to fund the start of your full-time copywriting business. This includes your start-up costs and three months’ business expenses. In my opinion, if you are starting with no clients, these amounts are a minimum.

Of course, if you’re starting your business part time — and have other sources of income — you may not need as large of a cash reserve. But you will still have start-up costs and will need to fund business expenses until you achieve a consistent level of income.

The great thing about the copywriting business, like any writing pursuit, is that you can start very modestly. You don’t need to have everything I list in this chapter in place before you begin your business. You can start with a phone, computer, and some stationery and build from there, accumulating other software, hardware, and office furnishings as you go along. After all, the most important thing you need to get started is a demonstrated ability to write copy.