How do you put a dollar value on your writing? Are you charging too much? Too
little? In your creative small business, pricing issues will come up again and again. I
struggled with them for years, until I managed to get them straight in my own mind.
Now I price my writing and writing services to ensure that the buyer is getting MORE
than his money’s worth. When I’ve set the price to my own satisfaction, I’m happy to
negotiate, because I know my base price. I know what I’d like to get, and I know the
lowest price I will accept. This makes for peace of mind.
=> Are you an apprentice or a master?
All things being equal, you will be able to charge more for your creative services if
you’re highly experienced. This is because you will bring more to each project. You
will see ways of doing things better, faster and more effectively, because you’ve
done similar projects many times, and have made all the mistakes possible and
won’t make them again. 
For example, I create many news releases for clients in my copywriting practice.
News releases seem easy on the surface, however to write a news release that will
get coverage is a complex skill, much of which consists in knowing what not to do. I
charge more for news releases than other writers, because I have the skills and the
contacts that ensure that my news releases work.
=> Are you selling or licensing your work?
As creatives, we have the option of licensing rights to our work, or of selling works
outright. Much of my work — my business writing and copywriting — is work
done for hire. The buyer gets all rights to the work.
When you sell all rights to something, that work has gone for good. You can’t reuse
it, or resell it. Therefore it’s important that if writing (or any other creative
occupation) is your fulltime work, you devote some of your working time to creating
products which you can license.
For writers, these products could include books (fiction and nonfiction), magazine
articles, scripts, and ebooks.
Be aware of rights issues, and of which rights you’re selling, at all times. When a
magazine editor offers you fifty cents a word for FNASR (First North American Serial
Rights) you need to know exactly what that means. It means that you know that you
can still sell second NASR, and you’ve got the rest-of-world rights to play with too.
I’m in Australia, so for short magazine articles, I’m quite happy to sell First
Australian Serial Rights quite cheaply, because I know I’ve got lots of rights still to
sell— although “license” is a better term, because when you “sell″ rights, you’re
licensing your work for a specific use and for a set period.
If you’re not a hundred per cent sure of how copyright and the rights to your work
operate, please buy a book on the subject. It’s worth spending the money, to have
the information at your fingertips.
When you know how rights work, you can ask an editor who’s offered you a dollar a
word what rights she’s buying. If (horrors) she tells you she wants all rights to the
piece for a dollar a word, that perceived good price starts to look shabby if you’ve
been intending to use the material in other ways: as a chapter in a book, for
example, or if you’ve been counting on selling only FNASR, and wanted to sell UK
rights as well.
=> Learn to negotiate
Most creatives are not born good negotiators. You can however, become an expert
negotiator. Here’s how:
* know your base price: your rock-bottom limit. When you know your base price,
you can walk away;
* set your preferred price a third higher than your base price
* offer a sweetener rather than reducing your price;
* be patient when negotiating;
* in complex deals (like books) get someone (an agent) to negotiate for you.
=> Your ability to price your writing will develop as you continue to work at your
trade
The ability to price your creative work develops over time. You’ll make mistakes.
You’ll kick yourself for signing poor contracts. Look on this as paying your dues,
and move on.
Review your pricing structures regularly, and keep up with the latest news on
copyright and rights issues. As a creative, your rights are your nest egg, your money
in the bank. Guard your rights, but don’t become paranoid.
Your most important task is to get your pricing straight in your own mind. When
you’re happy with the prices you charge, you will become a superb negotiator.
Stuck in your writing career? Get a coach! Angela Booth coaches writers in copywriting (writing for business), nonfiction, and fiction. A veteran writer, published by major publishers worldwide, Angela is also an experienced writing teacher, who knows how to inspire and motivate. You CAN make a success of your writing career. Free daily info for writers at her blog: copywriter.typepad.com/ copywriter.typepad.com/ Start your writing coaching today by contacting Angela at her site angelabooth.com/ angelabooth.com/ Angela offers personal one-on-one e-courses and mentoring for all forms of writing. Ask for a low-cost initial phone or email consultation.