When pitching new projects, freelance writers are often required to submit a proposed budget or quote. This is particularly true for freelance technical writers or freelance writers who work on projects that require additional tasks, such as information design or graphics integration. Whether your project requires a line-item budget proposal or a flat fee, it is helpful to think carefully through all stages of the writing process to determine a final budget.
Instructions
1. Write a task list. Think about all of the tasks you will need to complete in order to finish the project, and don't forget to include supporting work. For example, if you need to interview subject matter experts, you'll need to budget interview time, but should also plan for time to contact each individual and to travel to and from the interview location. Be specific in your task list, and don't hesitate to add items such as "time to compose email" and "time to make phone calls." These activities sound simple, but can be surprisingly time-consuming.
2. Determine an initial hour estimate. After you've made your task list, assign each item an approximate hour value. Think back to past freelance writing projects to come up with an appropriate hour count, and resist the temptation to underestimate; you can always refine your hours later if the count seems too high, and it is better to have too many available hours than too few.
3. Consider eventualities. Refer back to your list and review each item as part of the whole writing and review process. Have you included hours for discussion and review with the client? Think through the project, and be sure that you have considered every likely task. If the project requires the integration of graphics, you may want to include time to locate and review images for quality, or time to get the files from outside sources. If your freelance writing project requires information design, budget time for pre-writing planning and post-writing review.
4. Add material costs. Determine if the project will require any specific materials to complete or if you'll need to purchase specific reference books, manuals, software or products. Study the project guidelines, and consider any materials you'll need to complete the writing assignment.
5. Factor in overhead. As a freelance writer, you do not have access to a company office supply closet or software licenses. You will need to maintain your own home office and purchase any hardware, software and supplies. As such, part of every freelance writing project proposal should be dedicated to overhead costs. If you do many freelance projects, calculate a yearly overhead budget and spread it across a number of projects.
6. Calculate the final budget. Review your hours, and assign a dollar value to the time. Whether you come to your final number through an hourly rate calculation or a flat fee, be sure that the number is one you can live with if you are awarded the project. Consider the time frame, your financial needs and your ability to fit in other freelance writing projects. Resist the temptation to budget too high or too low; go instead with your knowledge of the company, what it can afford, and what it is likely to pay.
Tags: project requires, task list, your task list, each item, final budget, freelance writers
