Finding freelance clients in a budget-conscious market

Everyone’s tightening their purse strings, which can make things tricky for freelancers. But there are still ways to find clients in a budget-conscious market.

Lots of businesses are feeling the pinch at the moment. Unfortunately, this can have a knock-on effect on the freelancers that work for them too. Freelancers might have projects cancelled or postponed, or might find that they’re being asked to accept lower rates than usual. Finding freelance clients in this kind of market might seem daunting, but it doesn’t need to be this way. 

Below we’ve set out a few things that you should think about to ensure you don’t need to compromise your own worth (and the amount you’re being paid) in these potentially tough times. 

• Make sure your digital channels are up to scratch 
• Finding freelance clients via online networking  
• Set your terms early on 
• Finding freelance clients via recruiters 
• Working for free 

Make sure your digital channels are up to scratch 

You probably don’t need us to tell you this, but it’s vital that your website, online portfolios and social media channels are up-to-date and include all your recent work if you’re going to attract the kind of clients that you want. Here are some questions that you might want to ask yourself: 

• Have I included my most recent projects on my LinkedIn profile, on my website, and in my online portfolios? 
• Could I ask for more recommendations or testimonials from colleagues or friends? 
• Do my social channels still display the message that I want to portray? 
• If I have a business or a limited company, is everything up to date with my current branding?

If you’ve got some down time between jobs and whilst you’re waiting for work to come in or for people to get back to you, this can be a perfect time to get these essential aspects of your marketing up-to-date. 

Finding freelance clients via online networking  

Even though networking takes time (and sometimes money), it’s the most valuable marketing you can do. Here are a few ways that you can keep your foot in the door and make sure your name and services stay in people’s minds:

• Be part of the conversation online: make sure you have an opinion on current debates within your industry, and that you’re available to offer interesting points of view on trending topics. A viral retweet is worth a lot in our incredibly social economy!
• Join virtual networking events: these might be for freelancers in your local area, or within your specific industry. Search online, and make sure you contribute to the discussion in a meaningful way once you’re there. You’ll find that there are more virtual industry events than you’d expect!
• Reach out to old clients: this might be as simple as a quick email to see what they’re working on, how their business is going, and whether they need any extra help. If they haven’t got business for you, they’ll appreciate your efforts to stay in touch. They might, though – and if they do you’ve just scored yourself some extra work!

If you’ve got a decent audience, why not host your own virtual networking event? Set a theme and a date, and invite those that you know within your industry to get involved. This can be a great way to get to know new people and potential clients, and position yourself as a leader in your field at the same time. 

Set your terms early on

You need confidence in yourself and your offering if you’re going to pull in clients that pay you the right amount of money even when the economy improves. One way to do this (a very important way) is to be clear on your prices. 

To do this, you should set a day rate based on what you would be earning if you were employed by a company. From this, you can work out your hourly rate. You can then weigh up whether the work that comes your way will be worth your time. 

For example, if your hourly rate is £20 per hour, your day rate (based on a standard eight-hour day) should be £160. If you know a project will take you two full working days, you should charge £320. 

If the client believes that this is too much for their budget, you’re very much within your rights to stand firm. Use the following to politely remind them of your fees: 

“Thank you for coming back to me on this. As a freelancer my day rate is set at £160 per day, hence the pricing I’ve set on this project. Do you have any flexibility within your budget? I’d be very happy to discuss this further.” 

If they come back with a compromise or with a price that’s close to your day rate, it’s up to you to decide whether these terms are going to work for you. If they aren’t, you should walk away (and never accept a job that’s far below your day rate – it won’t be worth your time). 

Consider asking for other benefits

Sometimes, you’ll find a client you really want to work with who just doesn’t have the right budget. This happens a lot with charities and startups in particular. Here, it’s a good idea to consider asking for other ways to receive benefit in return for a reduced fee. For example, if it’s a charity, ask if you can have an article about your work for them put on their website. Or, if it’s a startup offering software, request free access to it. Perhaps there is a direct skill-swap possibility too. If you’re a graphic designer, for example, perhaps you could work with an accountancy firm for a reduced fee in return for your tax return being completed pro bono!

Finding freelance clients via recruiters 

It’s always a good idea to have someone else on your side, especially if you’re looking to find new freelance clients in budget-conscious times. Contacting recruiters and getting on their books can provide you with long-term project and contract work, which you can work on at the same time as any other freelance projects that you have on the go. 

There are lots of benefits to finding work through recruiters, including that potential clients are very unlikely to try and underpay you when they have to go through someone whose job it is to ensure that that doesn’t happen. Once you’ve found work through a recruiter they are more likely to put you forward for other projects in the future, too. 

The main downside of working via an agency is that, typically, they set your rates. You may have to accept a lower daily rate in return for guaranteed regular work. Alternatively, some agencies take a percentage from your fee when they place you – if this is the case, raise your rate! Agencies are, however, most often paid by the client – so they’ll be charging the client more than your day rate to make a profit themselves.

Working for free 

Working for free is something that many people will tell you never to do. It’s something that we wouldn’t encourage in general, either. However, there can be some occasions where it might be helpful to you. These are very specific though, so don’t let anyone take you for a ride! 

You might consider working for free if: 

• You’ve never worked in the industry before and need to build a portfolio to prove yourself 
• You need to make edits or changes to work that you previously completed, as per the terms of your freelance contract (although always try to negotiate an edit fee in this case – it can’t hurt to ask!) 
• You’re in a secure financial position, and you have the time and resources to offer your services either pro bono or to charities for a specific purpose 

Do not work for free if: 

• The client has promised you paid work “later” (this is unlikely to ever materialise)
• You have a lot of experience and proven work in the area in question, unless you’ve made a conscious choice to give your time to a charity or non-profit (as mentioned above) 
• You are promised “exposure” or “contacts”, or told that this would be a “great opportunity” for you. This might be the case, but it’ll still be true if they pay you (and exposure, of course, doesn’t pay the rent) 
• You’re working for a corporate company that makes a profit, e.g. a bank  

Chat to other freelancers for more ideas!

One of the common misconceptions about freelancing is that everyone is super-competitive with each other. You may be surprised to learn there are lots of supportive online communities for freelancers! Many will share referrals from clients, or share larger projects with the freelancers they know.

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How to Avoid Costly Mistakes in Your First Year of Home Business

Starting a home business can be an empowering experience, offering flexibility and the chance to turn a personal passion into a livelihood.

This entrepreneurial drive is especially evident in the United Kingdom. According to Statista, the number of self-employed workers in the UK rose from 3.2 million in December 2000 to around 4.4 million by March 2025. The figure had previously peaked at over five million in early 2020.

However, behind this promising trend lies a sobering truth: the first year of running a home-based business is often the most difficult. From financial missteps to operational inefficiencies, early-stage errors can quickly jeopardise long-term success. While the idea of being your boss is appealing, it demands careful planning, vigilance, and smart decision-making.

This guide is designed to help new and aspiring home business owners steer clear of the most common and costly mistakes. By doing so, they can lay a more secure foundation for sustainable growth and success.

• 1. Lack of Clear Business Planning
• 2. Underestimating Start-Up Costs
• 3. Financial Pitfalls That Can Derail Your Business
• 4. Overcommitting and Burnout
• 5. Neglecting Marketing
• Frequently Asked Questions

1. Lack of Clear Business Planning

Many home business owners lack a formal business plan, which can result in scattered efforts, wasted time, and missed opportunities. A solid business plan provides clarity, outlining your mission, vision, and clear steps toward achieving your goals. In today’s uncertain climate, having this roadmap is more crucial than ever.

According to Startups Magazine, business confidence in the UK has fallen to its lowest level since the Autumn 2022 mini-Budget. With economic instability, looming tariffs under President Trump’s leadership, and uncertainty ahead of the Spring Forecast, strategic planning is essential.

How to Avoid This Mistake:

• Set both short- and long-term goals for your business.
• Identify your ideal audience and gain a deep understanding of their needs and preferences.
• Plan your revenue streams and outline strategies for growth.
• Consistently review and revise your plan to reflect changes and growth in your business.

2. Underestimating Start-Up Costs

A business’s initial expenses vary based on its model. For instance, online businesses usually require less capital than brick-and-mortar ventures like restaurants, as they need less space and fewer employees.

Still, some costs are common across most business types, including market research, legal services, licensing, and brand promotion. Failing to anticipate these expenses can leave entrepreneurs financially unprepared and forced to cut corners in critical areas.

How to Avoid This Mistake:

• Budget conservatively and include a cushion for unexpected expenses.
• List all potential costs, both one-time and recurring, when planning your budget.
• Build an emergency fund. Experts recommend setting aside a percentage of your annual revenue for unforeseen needs.

3. Financial Pitfalls That Can Derail Your Business

New home businesses are especially vulnerable to financial pitfalls, particularly scams involving fake vendors or illegitimate service providers. Falling for such fraud can lead to financial losses, compromised data, or even legal complications. One effective way to safeguard against these risks is by using a business verification service.

According to AU10TIX, business owners can effortlessly collect essential data about potential partners through automated processes. These tools offer immediate insights into a company’s ownership and legal structure, along with automated risk evaluations.

How to Avoid This Mistake:

• Vet all vendors, suppliers, and partners before entering contracts or making payments.
• Use business verification services to confirm the legitimacy of businesses you work with. These services check credentials, registrations, and performance data, helping you avoid costly missteps.
• Stay alert for red flags, such as requests for upfront payments or reluctance to provide references.

4. Overcommitting and Burnout

Overcommitting is a common trap for new home business owners, especially when trying to save costs by doing everything themselves. However, this approach often leads to burnout, resulting in poor decision-making, reduced productivity, and long-term damage to the business.

According to Insider, burnout’s impact on the UK economy is staggering. The Mental Health Foundation estimates that mental health issues cost the UK economy up to £45 billion annually. This figure reflects not just lost productivity, but also increased strain on healthcare systems and the long-term impact on business sustainability.

How to Avoid This Mistake:

• Delegate or outsource tasks that fall outside your expertise, such as bookkeeping, design, or social media management.
• Organise your tasks by importance and concentrate on activities that deliver the greatest results.
• Schedule regular breaks and set boundaries to maintain a healthy work-life balance.

5. Neglecting Marketing

A great product or service won’t sell itself if no one knows about it. Many home business owners delay marketing until after launch, missing out on early momentum and potential customers.

According to a recent report, 67% of UK businesses lack a marketing action plan, and over half don’t even have a business plan. Based on insights from nearly 2,000 decision-makers, the report highlights a widespread gap in strategic growth planning.

How to Avoid This Mistake:

• Start marketing early, even before your official launch.
• Use social media, email campaigns, and word-of-mouth recommendations to generate excitement and attract attention.
• Track your marketing efforts to see what works and adjust your strategy accordingly.

Frequently Asked Questions

Is it normal to lose money in the first year of business?

Yes, it is common to lose money in the first year of a business. Many startups face high initial costs, limited revenue, and ongoing investments in marketing, equipment, or development. With time and proper planning, losses can turn into profitability as the business stabilises and builds a customer base.

How do I find out if a business is bad?

To determine if a business is bad, research customer reviews, check ratings on platforms, and verify licenses or registrations. Look for red flags such as poor communication, unresolved complaints, or vague policies. Business verification services can also provide ownership, legal, and risk-related insights.

How long until a small business is profitable?

Most small businesses take between 1 to 3 years to become profitable. Profitability depends on factors like industry type, business model, startup costs, and market demand. Strategic planning, effective marketing, and sound financial management can help accelerate the process and ensure long-term sustainability. Patience and adaptability are key.

Your first year in a home business sets the stage for future growth. By following the strategies outlined in the article, you can avoid the most common and costly mistakes. Remember, success doesn’t come from doing everything perfectly. It comes from learning, adapting, and making informed decisions. With the right foundation, your home business can thrive well beyond its first year.

Disclaimer: MoneyMagpie is not a licensed financial advisor and therefore information found here including opinions, commentary, suggestions or strategies are for informational, entertainment or educational purposes only. This should not be considered as financial advice. Anyone thinking of investing should conduct their own due diligence.

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Can I Get Paid to Write Saucy Books? Make Money with Spicy Romance Books

Romance books have always been a popular genre – but ‘spicy’ books have a new and massive readership thanks to several high-profile books lately (Sarah J Maas, we’re looking at you). If you’ve always wanted to make money writing books, and you have a creative imagination, this could be a great way to make money. Here’s your total guide to writing erotica, closed-door romance, and everything in-between!

 

What is Romance as a Genre?

Romance writing spans a very broad spectrum of types of books. There is one obvious common theme: people fall in love. But other than that, almost anything goes!

A recent boom in ‘romantasy’ blends romance with fantasy books, and this has introduced a whole new generation to romance writing (and reading). But there are lots of different types. You can either self publish or traditionally publish, depending on how quickly you want to make money and how much control you want over the publishing process.

How Spicy Do I Need to Be?

‘Spicy’ is a term used for erotic writing that is graphic and/or explicit, while more ‘traditional’ romance is often called ‘closed door’. It means you get hints of what happens, but most is left up to the reader’s imagination as it happens ‘behind closed doors’. Spicy books are often very explicit, so you need to be comfortable with writing R-rated things!

The good news is there are audiences for all levels of ‘spice’. So, if you’re not comfortable writing explicit sex scenes, you can still make money writing romance books.

How Do I Write a Romance Book?

While it is now easier than ever to publish your writing thanks to eBooks and platforms like Amazon, Kobo, and Apple Books, you still need to put in the work if you want to make consistent money from your romance writing!

Here are a few important things to consider.

Read, Read, Read!

First of all, before you even set pen to paper or fingers to typewriter, make sure you know your genre. Get your hands on a library card, or sign up to a free trial of Kindle Unlimited, and read as much romance fiction you can get your hands on. This is the best masterclass you can take when you’re learning how to write romance novels.

Pay attention to common themes and tropes, what you like to read and what turns you off (pun intended), and this will help you shape an idea of what kind of romance writer you want to be. It will also show you what is a bit too commonly seen, the bad kinds of tropes you want to avoid, and hopefully spark ideas about how you can tackle them in a fresh new way.

You Don’t Need Special Software… But It Could Help

You can write a novel in Google Docs, Word, or any other word processing software. However, as you build your romance world and get to know your characters and plot, it can be a lot of information to wrangle. That’s why there are some novel-specific software options out there you might like to try, some are free and basic like yWriter, while others are paid but have more functionality, such as Scrivener and Novlr.

You can get 20% off Scrivener if you enter MAGPIE at checkout. (This is not a sponsored link or advert).

If you want to self-publish your books as ebooks, formatting software can be really helpful. With Windows, Atticus is the most commonly used, while Vellum is for Macs. They help turn your manuscript into a properly formatted book without hours and hours of hard work!

(There has recently been an online controversy about Vellum, where some people have confused it with Vellum AI. Vellum has been around for over a decade, and is a formatting software – think Word on steroids – whereas Vellum AI is something released in 2025 and is for computer developers. They’re two very different things and Vellum is NOT an AI programme).

Romance Book Length

Romance is usually between 50,000 words for commercial (‘chick lit’) up to 80,000 for historical romance. Romantasy books that blend romance and fantasy genres are generally longer, up to around 100,000 words, but it doesn’t have to be that long.

You can also try your hand at short reads. Amazon Kindle determines the length of a read by the page numbers – you can’t set this in your upload metadata, but generally if you stick within certain page limits you’ll come up in the right search filters.

The rough page count for short reads would be:

• 15 minutes – 1 to 11 pages
• 30 minutes – 12 to 21 pages
• 45 minutes – 22 to 32 pages
• One hour – 33 to 43 pages
• 90 minutes – 44 to 64 pages
• Two hours or more – 65 to 100 pages

This is book pages, rather than number of pages in word. A book page is around 280 words. So, a 30-minute read at 15 pages long would be around 4,200 words. These short stories do particularly well when enrolled in Kindle Unlimited, which is ideal for new writers to build their brand – the returns are smaller, but more people are likely to read your book.

You Need a Plot

Romance isn’t just about people falling in love and doing rude things to each other! Readers of romance love the story of why people fall in love, out of love, and even when they’re torn between loving two people. Plot is very important in romance books, but there are some key moments most will have, including:

• A meet cute of the couple-to-be
• A honeymoon phase
• The problem turning point (do they have a spouse or partner already? Does someone else come into their lives? etc)
• An argument between the lovers
• Either an ending where they get back together for good (known as a happy ever after) or at least in the short-term (called ‘happy for now’)

Think about what it is that makes people fall in and out of love. Spicy books are great at focusing on the physical elements of relationships, but romance readers are a smart audience and they’ll want more than surface lust to keep them reading. Working out who your characters are, what their aim is and the obstacles they face to get to it, and why they end up in love are all important plot points you need to include.

Think About Your Audience

It helps to have a clear audience in mind before you start writing. This will impact the tone of your writing, how explicit you are with intimate scenes, and the type of plot you will write. For example, some older readers prefer classic Mills and Boon ‘gentle closed door romance’ while there is a growing trend for women in their 20s and 30s to enjoy particularly ‘spicy’ novels. Having a couple of ‘ideal readers’ in mind when you’re writing will help you stay on track and focus the ‘brand’ of your book.

Pick Your Protagonist Well

Your main character needs to be someone who is a go-getter, even if they are naturally timid. They need to have a reason to change across the book – this could be because they have moved from a village to a city (or vice versa), have a new job, go on holiday or similar. A change in circumstance and/or location is usually what makes characters seek out new things – and that’s what drives the plot of a romance book.

While your character can be anyone, generally your protagonist will be female, as the majority of romance readers are women. You can have male or non-binary perspectives, but there is a smaller niche for them. Many romance authors like to do ‘dual POV’ or dual point of view, which means you write one chapter in your protagonist’s voice and another in the antagonist (or second protagonist) voice and alternate through the book to give different perspectives. This is particularly useful for telling the story in a broader way, rather than sticking in one character’s head – but it can be tricky to do, so takes some practice.

If you decide on dual POV, be very careful not to ‘head hop’. This is when you change internal thoughts from one character to another in the same scene. It is confusing for the reader! So stick to one scene, one person’s inner thoughts – then you can always change the character in the next scene.

Find a Proofreader

Before you publish or send your book to an agent to get published, you need to have someone else read your book. There are different types of editors, costing different amounts. A developmental editor is very deep-dive and will work on the structure and story of your romance novel. A copy editor or line editor will improve how your sentences flow and fact-check things to make sure you don’t make any glaring mistakes. The cheapest option is a proofreader, who reads the book and highlights your spelling and grammar errors.

It might feel hard to pay before you get any income from your book, but if you’re the only person reading it you can easily miss errors because you’ve been staring at the same pages for weeks! A good proofreader will help you bring your book up to standard. It’s important for whether you are self publishing or sending to an agent. There are many services available online – join some writing groups on Facebook and ask for personal referrals from other writers (don’t just go with the first person who approaches you to sell their services!).

First, with self publishing, it is important to avoid spelling and grammatical errors which can put off your readers – and with platforms like Kindle Unlimited, you’re paid by the number of pages that are read. So you want people to keep reading!

Secondly, if you want to be noticed by a publisher or agent, you need your manuscript to be in the best shape possible to get their attention. Mistakes can stop them reading and reject the book, which means you’ll have to start the long query process all over again.

Do I Need an Agent to Publish My Romance Novel?

Yes or no! There are two reasons both answers are true.

Self publishers don’t need an agent – they can publish whatever they want, whenever they want. But as we talked about earlier, they also have to do all the marketing and business side of selling romance novels, too.

Some traditional publishers, like Mills and Boon (read more below) will accept book submissions from someone who doesn’t have an agent. There aren’t many places that do this, and they’re very competitive, but it is a way in to the industry if you can get it.

Most traditional publishers will only take submissions from an agent. This means you need to get literary representation before you can think about publishing. This tends to be more for commercial women’s fiction or high-profile genres like romantasy.

Where Can I Publish My Romance Book?

You can choose to self publish your book on platforms like Amazon, or traditionally publish to get your book into shops. There are pros and cons to both.

Self publishing gives you total control over what you write, when it is published, and you receive a higher percentage of sale revenue. However, you also need to design your book cover, run your PR, and continue to market the book once it is published, all of which can cost money and take a lot of time to learn and carry out. You don’t get an advance payment with self publishing, so you need some funds to get started.

Traditional publishing is historically more ‘prestigious’, but that matters less these days. However, you will have an editor and marketing team behind the book if you manage to sell it to a publisher, so you don’t have to do everything as you do with self publishing. You will also be paid an advance if you sell the book, but make a smaller percentage on royalties.

Publishing on Amazon

It is very easy for anybody to self publish on Amazon and similar platforms. You need to have a finished book that is in a book format – software like Vellum can help you with this, or there are Word templates online you can use.

You need a few things before you can hit publish:

• A book cover
• A back blurb (the short description on the back of the book to entice readers)
• The manuscript
• An ISBN number (two if you plan to allow for physical copies to be purchased)
• Social media art for promotion
• Short descriptions for meta data
• A list of keywords that relate to your book to help people find it in searches

Amazon Kindle Direct Publishing is the most common platform for new writers to start on. There is a helpful tutorial on the website, and lots of YouTube videos for more in-depth lessons about the nuances of promoting your romance book.

Publishing Mills and Boon Books

If self publishing sounds too complicated, or you want the prestige of being a traditionally published author, Mills and Boon are the most famous name in romance. The brilliant news is that you don’t need to have an agent to submit to them – which is very unusual in the world of traditional publishing!

There are some guidelines to follow before you submit. Read their submission guidelines on the website – and make sure you know which imprint you want to submit to, too. Different imprints are like different brands underneath the Mills and Boon umbrella, and they each have a distinctive voice, audience, and types of story.

Mills and Boon Modern – has a hero willing to take charge, but the heroine has a feisty side to her. Think international glitz and glamour for this series.

Mills and Boon True Love – this series is about relatable women and deeply desirable men, without graphic scenes but intense emotion and tension.

Mills and Boon Medical – the clue is in the name here, with medical settings taking the foreground, and dedicated medical professionals with hearts of gold who work together.

Mills and Boon Historical – every time period up to the 1950s and every level of spice is accepted, with dynamic characters who have relatable conflicts

Harlequin Books

Mills and Boon also have Harlequin books, which is another type of novel. They are more cross-genre than the above imprints. The Intrigue submission guidelines state that books with thriller storylines around 55,000 words are welcomed. The Suspense submission guidelines state that imprint is for more complex, sustained suspense romance stories around 70,000 words long.

Getting Started Resources

The internet is your friend! There are so many amazing YouTube channels and podcasts and Substacks, it’s too many to list, but these ones are great for beginner writers – some are romance-specific, while others help you learn more about the craft of writing and also self-publishing.

YouTube Channels

• Alexa Donne
• Abbie Emmons
• SPA Girls Podcast (romance self publishing focus)
• Reedsy
• The Creative Penn
• Leslye Penelope

Podcasts, Websites, and Newsletters

• Chapter Break
• How to Write a Book (Elizabeth Day)
• BBC Maestro – JoJo Moyes Romance Masterclass (this is a paid class, keep an eye out on the site for discounts a few times a year or use the free trial)
• How to Write a Romance Novel (Penguin Books Website)
• How to Write Exciting Romantic Fiction (National Centre for Writing)
• How to Write a Romance Novel (The Novelry Blog)
• The Romance Novelists’ Association

 

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Get paid to travel

Summer is here, but Britain is just as unpredictably rainy, chilly and grey as ever, with only the occasional burst of sunshine.

You could spend the next few months lounging around at your parents’, or working hard in a soullessly air-conditioned shop on the high street… or you could get paid to travel, and be basking in the sun as you crush grapes in southern Italy, perhaps immersing yourself in a new culture as an au pair, or living it up at an American summer camp.

This guide offers you a dazzling array of ideas for escaping your hometown for something new, whether you hop on a plane abroad or decide to stick to these shores. Just remember to call home once in a while, so your mum knows you’re okay…

• Summer camp
• Holiday rep
• Winemaking
• Summer Au Pair
• House sitting
• Get paid to travel in a cruise ship

 

Summer camp

You’ve seen summer camps on American TV shows and in movies, but have you ever longed to join in the fun?

Camp America is an organisation with HQs in the US and London, which runs a scheme to place you in a camp for you to work at all summer. There are several different types of camp, including private, day, Girl Scout, special needs and Christian ones, so if you have a particular interest you can explore it here and get paid to travel.

It’s essentially a cultural exchange programme, and you pay a fee (currently £752) for your visa, police check, interview and event costs etc., while all your food, accommodation and flight costs are met by your camp; you can earn whilst you’re out there., and CA will help you if you seek work in the US afterwards.

The scheme is recognised by employers worldwide, who know you have gained experience as a role model, leader, and team player, so the experience will massively boost your CV while you have an incredible time.

 If a summer jaunt to the USA is a little out of reach for you, or not your thing, why not work at a camp in the UK?

PGL runs several schemes for 7-17-year-olds every year and you could work for the company in housekeeping, catering, retail, admin, maintenance, or as a sports instructor or group leader. PGL have 23 centres across the UK, France, and Spain, and are a leading outdoor activities company, so if this sounds like your high-octane cup of tea, sign up for the 2017 season now.

There are also plenty of other camps, such as Brighton-based Kingswood, Supercamps, and the international Camp Cooper in Scotland.

 

holiday rep

Holiday reps are responsible for looking after guests on package holidays at resorts, making sure they enjoy their time away and that everything runs smoothly.

It’s a tough job, but if you’re up to the challenge, it’s a great way to be paid for seeing the world, while guiding other people through their getaways. Combine your love for partying with a job working by checking out the jobs board on Career in Travel for a broad range of the latest opportunities.

Thomson and TUI Travel Jobs, among other top companies, recruit directly on their websites, so have a look sharpish!

 

Winemaking

Winemaking is a global industry which is constantly recruiting new workers to help them during their busiest times. If you’re willing to put he work in, you could be picking grapes anywhere across Europe this summer, get paid to travel while escaping the grey drizzle.

PickingJobs and WineIndustryJobs list work throughout the world, suitable for summer backpackers and anyone willing to travel, while for something closer to home, Wine Jobs England has loads of opportunities at entry-level and up. If you do jet off, save money on the outset by using Student Money Saver’s tool to compare flight costs and pick up the latest deals.

 

Summer au pair

Summer au pairs typically live with a host family for a short period of a few months during the summer holidays, and provide support in the household, including childcare and light housework in return for food, board and a wage.

You get paid to travel and experience a new country from the perspective of a resident, gain experience in looking after children, and any experience working abroad in such a position of responsibility is really attractive to employers beyond uni.

SeasonWorkers, Au Pair World and Smaller Earth are just a few of the agencies that can help you find a placement. Again, there are plenty of families in the UK crying out for help with their kids during the long summer holidays so if you fancy mixing it up and living with a British family for part or all of your summer, there are plenty of chances to do it – ask around or look on job sites for your next job. Bear in mind that a driving licence is a huge bonus in this kind of work.

 

House sitting

Love The Holiday? Ever wondered what it would be like to live in someone else’s house for a while?

You could get paid to travel across the world on free accommodation as a house sitter, offering peace of mind to families jetting off on holiday by looking after their house (and often their pets, too).

Trusted Housesitters helps you find a place almost anywhere in the world, while housecarers.com is Australia-based and House Sitters UK is, yes, Brit-specific.

So long as you’re relatively clean, tidy, conscientious and do the job properly, you can spend your whole summer living it up anywhere in the world.

 

Get paid to travel in a cruise ship

Working on a cruise ship is fun, especially if you love travel, water, making friends and exploring new places.

These ships take you around the world, and you can go to places you haven’t been to, all for free while you also get paid to do it. The best part about working on a cruise ship is you can take up a variety of jobs, including nursing, childcare, steward, cabin crew, among others.

You can search for cruise ship jobs from sites like indeed, voyages to antiquity and The Agency.

 

Which of these ideas appeals to you? Would you like to get paid to travel? Let us know in the comments section below.

 

The post Get paid to travel appeared first on MoneyMagpie.

How to Sell Your Photos Online

Would you like to sell your photos online and make some handy extra cash?

You don’t have to be a professional to do it nowadays.

Have you ever taken a photograph, uploaded it to a social networking site, and been surprised by just how many people comment on it? If so, it’s likely you could make a bit of cash if by selling your photos online.

• Why sell your photos online?
• How does it work to sell your photos online?
• Top tips for perfect pictures
• How much can you make if you sell your photos online?
• Sell news photos for big money

 

Why sell your photos online?

Although photography was once considered a rather expensive and complicated hobby, modern technology has created many a budding Herb Ritts or Mario Testino.

Yes, there are a lot of amateur photographers about, but the demand for digital images is also increasing. Every day, new photographs are needed for company websites, public sector newsletters, corporate presentations and thousands of other uses.

This means if you have a camera and an eye for a good image you can sell your photos for good money.

Selling your photos is not hard to do. There are buyers all around the world, so sell your photos online and you can make money while you sleep!

This isn’t child’s play, but if you’re a fast learner you can get up and running quickly. If you can capture an image that is well-constructed, well-lit and properly focused, we’ll show you how to set up a passive stream of income.

 

How does it work to sell your photos online?

Step 1: Register with an online agency

There are lots of online agencies. Some popular sites include

• Alamy
• Shutterstock
• Getty Images
• Adobe Stock

When you register your details, the site will usually ask you to send between five to ten photos so it can test the quality and type of photos you send them. If your photos don’t conform to the site’s requirements, they will be rejected.

If this happens, don’t worry – just try again, taking their comments into consideration. Sometimes it may just be because they already have too many of the sort of photo you’re sending.

 

Step 2: Upload your pictures

Once you’ve received the go ahead from the agency you can upload batches of pictures. Each photo is manually checked by the agency in question, so if you want your pictures to go on sale quickly, send them in batches of 5 or 10.

 

Step 3: Pictures Are Go!

After your pictures have been checked and cleared you’ll be notified when they go live on the website, usually after about 24 hours.

Then there’s nothing to do after that except wait until people buy your photos. Once your account reaches a certain limit you can get your hands on the cash. The usual method of payment is by cheque or PayPal. You can drive people to your photos faster by building a social media following and posting them there – but make sure you keep the watermark on them to avoid people stealing your pics!

 

Top tips for perfect pictures

Subject matter

It can be tempting to take pictures of things that are pretty or cute – a great sunset, a bluebell wood, or an adorable shot of your cat peeking out of a plant pot. These types of pictures are in a very competitive market, however.

Stock libraries want a wide range of pictures, covering many different subjects, ideas, concepts, cultures and issues.

When a buyer types a search term – no matter how obscure – into their site, they want to find an image to match their needs.

Think about the types of photographs you see in the news.

• A story about food hygiene might be accompanied by a shot of someone washing their hands.
• An article about petrol prices might show someone fuelling their car.
• We use a lot of pictures of money, credit cards and simple pound signs!

These descriptive images are the real money spinners. Think about what you see in corporate communications, branding, even advertisements – these are the types of images that will do well, especially if you can take several variations of the same products or actions. If you’re using people, make sure they sign waivers to allow you to sell their image, and try to be as diverse as possible with your casting.

 

Picture quality

We’ve all taken dud photographs. Maybe it’s a family portrait in which Aunt Molly has been accidentally decapitated. Or a group shot, with an unknown stranger throwing crazy dance moves in the background. Perhaps overuse of the flash has left your subjects looking like Casper the Friendly Ghost.

If you’re using a digital camera, a bad shot is not the end of the world. But there are a few rules of thumb that you can follow to improve picture quality.

• Buyers often want high resolution images they can crop to fit into a particular space.  Leave a little extra space around the subject of your picture, so it can be cropped to size without losing anything crucial.
• Generally speaking, buyers want clear, bright colours, as anything washed out or over-saturated will not reproduce so well. It’s often worth playing with the exposure settings on your digital camera to improve this.
• Try to get a ‘clean’ shot. This means there is nothing in the background that will detract from the focus of your picture. And hold the camera steady and straight.

While it can be tempting to want to learn how to do all kinds of fancy photo editing stuff with Photoshop or other software, remember that your photo is going to form the base of someone else’s work. That means they usually don’t want things that have lots of digital alterations already – so keep things simple, and only use editing software to enhance your image (such as correcting a slight colour issue, or removing a person from a background that shouldn’t be there).

There are hundreds of websites offering tips on digital photography. But remember, rules are made to be broken!

 

Legal considerations

• Pictures of identifiable houses or models (any person who is in the photo) will in most cases need a release form. This is signed by the model or house owner to cite that their permission has been given for you to profit from their personal belongings. Each website has a release form for you to download if you need it.
• Avoid taking pictures of car registration plates, company logos (these might be Registered Trade Marks) and anything that could be considered inflammatory (racist graffiti, for example). You should also be careful of some buildings if they are registered as artworks. For example, you can take photos of the Eiffel Tower – but not of the light display at night, which is a copyrighted artwork.
• Finally, decide how much control you want over how your image is used. In UK law, a photographer automatically owns the copyright to his or her work unless they sell it on and sign a contract.
• Most online agencies allow the photographer to retain copyright, but they sell the pictures under different licenses. The buyer will have to specify whether they intend to use the photo in a magazine selling 100,000 copies a month, a website with a medium number of unique visitors, or for private personal use. The price will reflect this scale of use.

It is quite possible that you could sell an image through an online agency for £3, and discover it is on the front page of a book being sold around the world. If you are concerned about this look for a site that allows you to sell ‘rights managed’ images, and to apply restrictions to the sale of your photographs. It’s a complicated topic, but Alamy explains the different structures well.

 

Submissions guidelines

Most of the stock sites specify that if you want to submit a photo to sell, it has to be a high quality (low compression) JPEG.

The higher the image resolution, the more you’ll be paid. Image resolutions are grouped into web resolution (below 1200 by 1000 pixels, this will fit straight onto a web page), medium resolution and high resolution. The high resolution shots will normally take a few minutes to download.

 

How much can you make if you sell your photos online?

The price you earn depends on the resolution of your photographs, as higher quality images are more expensive.

The types of photo-selling websites can be divided into microstock (high volumes of photos, low prices paid per photo) and macrostock (vice versa). There have been suggestions that microstock sites devalue photography, but on the other hand, selling a photo for just a few pounds can give a beginner a confidence boost.

 

Microstock

To make money on these sites, you’ll need to aim for volume sales.

The royalty structure on iStockphoto is 15%, but you could make up to 45% for exclusive pictures when your ranking is high. This being said, its rates of pay are very low and depend on the buyers, so you may not get anything for web resolution photos. This site is probably only good to look at when you can sell high resolution photos of very good quality.

 

Macrostock

 

Alamy supplies a high-end market of editorial, advertising and publishing companies, so it’s safe to say anything you submit has to be high quality that follows their submission guidelines strictly. If you do, you have the potential to earn 65% commission. Their prices begin with £35 for a web resolution royalty-free photo, and up to £230 for the highest resolution royalty-free picture. Exclusive pictures command a slightly higher selling price.

 

Sell news photos for big money

If you witness a potential news story or have an interesting celebrity encounter, get a snap of it and you could make serious money by selling your photo to an agency.

Agencies will sell your photos on to major newspapers and magazines in exchange for commission.

They will pass images on to the Daily Mail, The Sun, The Daily Telegraph, Heat and the Daily Mirror to name a few. Most agencies accept images in all formats, including those taken on a mobile phone.

The clearer your image is, the better it’ll sell, but if yours is the only photo available, quality won’t be as much of an issue.

 

How much can I earn?

How much you can earn depends on what the photo depicts. If it’s a huge, unexpected occurrence which will become global news, you stand to make hundreds if not thousands.

Likewise a celebrity snap – if you manage to capture someone famous in an embarrassing or unusual situation, there’s potential for you to make serious cash.

However, a photo of a Z-list personality walking down the street won’t be anywhere near as valuable. Nevertheless, every little helps develop your portfolio online and nab that extra bit of cash.

Get snapping!

Got any picture-perfect money spinners? Tell us about it in the comments below.

The post How to Sell Your Photos Online appeared first on MoneyMagpie.

How to make money by being a cuddler

A recent article on the BBC website revealed that Samii Wood is a professional cuddler – and a deeper dive into that world reveals this is a real job that could net you over £100 an hour!

Enjoy showing your affection by smothering friends and family in hugs? Ever thought of converting your tactile generosity to cash by becoming a professional cuddler?

Probably not.

Well, we’re here to tell you that this is indeed a job description and one that may be worth investigating.

Let’s take a look.

• What is a cuddler?
• Why the rise in cuddling?
• Ways to become a professional cuddler
• How much you can make
• Case study

 

What is a professional cuddler?

Exactly as the name suggests, a professional cuddler is someone who offers their cuddling/hugging/snuggling services to clients in return for money.

Purely platonic

While it probably sounds somewhat salacious, the first and most important rule of being a professional cuddler is that things remain purely platonic at all times.

The rules are clear – no nudity, no touching the cuddler in places covered by underwear, no unsavoury advances.

In other words, it’s not about giving clients a racy experience, rather a comforting one.

And this goes for every aspect of your business. For instance, your go-to workwear will be a pair of super soft and cosy pyjamas. Your office? The comfiest couch, bed and/or mattress you can find. Your sales pitch? The wholesome goodness of a loving embrace.

You’ll be surprised how many people will pay really good money for something that may seem pretty mundane to you!

 

Why the rise in professional cuddling?

The plain fact of the matter is that we live in an era where loneliness is one of our most lethal epidemics.

With the global move away from a rural subsistence existence to one driven by economic opportunities in urban environments, we seem to have sacrificed our ability to connect with those closest to us. Long hours at the office, exhausting commutes and a focus on survival has moved ‘getting to know the neighbours’ close to last on our priority list.

If you have a partner, spouse, housemate or live-in family, this disconnection may not be altogether terrible. For those who live alone, however, it often means having several weeks go by without enjoying a meaningful conversation or the comfort of a gentle touch.

While the former is bad enough, it’s not entirely impossible to remedy – if you’re desperate enough, you could always chew off the ear of the barman at your local pub, the waiter at your favourite coffee shop or even the doorman at your apartment.

However, ‘skin hunger’ (the term used for being deprived of touch) poses a bigger challenge, as most people probably wouldn’t take too kindly to being hugged – out of nowhere – by a desperate stranger.

Benefits of touch

Be that as it may, one can’t get away from the fact that being able to share some form of physical touch is absolutely critical to our wellbeing as a species.

Here are just a few scientifically-proven benefits of human touch:

• Lower heart rate
• Decreases feelings of loneliness
• It’s a natural stress reliever
• Increases trust

Touch as commodity

What this all comes down to, is the fact that there are more people than ever before who are suffering emotionally, physically and psychologically due to a simple lack of touch.

Hence the rise of a newfangled type of therapist called the cuddler.

As with any other form of therapy, cuddling starts with a consultation, where the cuddler establishes what type of therapy the cuddled is after.

Some people may just want a lengthy hug, while others crave being the ‘little spoon’ while napping. Some cuddlers even offer the option of snuggling while watching a movie of the cuddlers choice.

The options are really endless!

 

Ways to operate as a professional cuddler

So, if you are the physically affectionate type, becoming a professional cuddler may seem like a dream profession for you.

However, before you go advertising your services on Gumtree, there are a couple of things to keep in mind:

• Do some thorough research about the cuddling industry and see if it’s really for you
• Sign up for the Cuddle Professionals International Accredited Course to become a qualified cuddler and equip yourself with the skills needed
• Decide how you’d like to operate your business. You might wish to join an agency, a directory, or create your own limited company.

Open a cuddle cafe

If you have a passion for hospitality, why not combine it with your cuddling capabilities? The concept of the ‘cuddle cafe’ started in Japan – where customers can order a certain type of cuddle off the menu, ranging from the likes of a 20-minute power nap to a full night’s rest in the arms of a comforting stranger. Apart from the hefty cover charge, customers would be billed according to the length of time they spent at the cafe.

So far, it doesn’t seem like anything similar exists in the UK, so why not be a pioneer?

Work independently

Finally, you could go your own way entirely and set up a cuddling business from home:

• Designate a special room/area for cuddles and make it as cosy as possible
• Work out a ‘menu’ of cuddles you are able to offer and how long each would take
• Set up a website people can make bookings through
• Advertise your services – if you’re nervous about putting yourself out there on something like Gumtree, try spreading the word through friends and family first.

Just be sure to have a very strict screening process for clients – perhaps you could arrange a coffee meeting in a public place beforehand and also have another person around the house whenever you have a client. Safety first!

 

How much you can make

A minimum rate of £50 an hour is suggested, with many experienced cuddlers earning over £100 an hour – some up to £150 an hour. You can vary your rate depending on options, such as if you will go to visit people or they come to you, and if you need to hire space for your cuddle session.

Make sure you include public liability insurance in your business plans. You should also make sure you have a clear screening process, and some professional cuddlers choose to hire an assistant for additional security (the assistant does not need to participate, but should attend appointments).

 

Case study: Kitty Mansfield

Kitty Mansfield

Holistic therapist and founder of BeCuddled, Kitty Mansfield is, without a doubt, the pioneer of cuddling as therapy in the UK.

Starting out as a massage therapist, she often felt that while clients’ aches and pains were being alleviated, some emotional piece of the puzzle was still missing.

Eventually, she realised that this could be alleviated by prolonged touch, so she set up BeSnuggled.co.uk to sell her services and explain her concept.

Although it took a while to gain momentum, she soon found herself stretched to capacity and decided to expand by taking extra cuddlers on board and established BeCuddled.Today, Europe’s very first professional cuddle agency.

To ensure that everyone is as comfortable as possible, they offer cuddlers and those to be cuddled the option of male, female or LGBTQ partners for sessions. While some people don’t have much of a preference, others crave a specific type of touch.

Part of Mansfield’s success can undoubtedly be ascribed to the strict rules and regulations underpinning her business, making all involved feel safe, cosy and secure.

 

Does this opportunity interest you? If so, you might also be interested in making money being a friend.

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Top 20 tips for running your own business

Running your own business can be all of the following: exciting, draining, liberating, stressful and rewarding. Still, it doesn’t matter whether you’re aiming to start up a shop or become the next Richard Branson – if you follow the 20 tips below, you’ll find your life – and business – will be made much easier!

• Start small and keep overheads low
• Cashflow
• Make a plan
• Network
• Sales, sales, sales
• Avoid borrowing if possible
• Set up passive income streams, where possible
• Get online
• Don’t buy advertising because you’re offered a deal
• Have an exit strategy
• Give people what they want
• Keep your finances in order
• Outsource, where possible
• Use targeted marketing
• Get into a niche
• Get mentors
• Take time off
• Be Selective about who you spend your time with
• Get what you can for free
• Have fun!

 

1. Running your own business – Start small and keep overheads low

Don’t spend any more than you have to on your start-up. Loads of big businesses start small: Laura Ashley began on her kitchen table, M&S started out as a market stall and Tesco was just a couple of local grocer’s shops in the beginning.

So, before you fork out, unnecessarily, consider:

• Your office can be a laptop computer at your kitchen table
• Don’t forget insurance, as your household insurance may no longer be valid if you’re working from home. This is something you’ll need to check with your current broker, as you may need to upgrade your insurance. Take a look at our comparison tool to find the right home insurance for you
• Set up a separate bank account for your business. (If you mix up your personal account with your business account you’re asking for trouble – it’s confusing, extra hassle and no benefit to you at all when it comes to planning your business and life in general.) It doesn’t need to be an expensive ‘business’ account, it can be an ordinary current account – either with your current bank or with a different provider. Look for one with integrated finance software like FreeAgent or Xero, to prepare your business for the changeover to Making Tax Digital soon
• If you need to send any parcels, you could try Parcel Compare – a fab website that could save you a fortune on package delivery. Its special comparison tool means you can find the cheapest shipping company for your needs.
• Consider other costs such as electric and gas. If you do decide to rent or buy an office, take the time to do an energy comparison to make sure you’re not overpaying for your energy consumption.
• Packaging and labels are essential for shipping products. Make sure to invest in quality packaging to protect your items and professional labels to maintain a good brand image. You can find cost-effective options by comparing different suppliers.

 

2.Cashflow

Don’t assume that people will pay on time as they normally don’t. Instead:

• Cut down your waiting time by getting them to agree payment terms at the start
• Be clear in your invoices that you will charge 8% over base rate for any invoices that aren’t paid within 30 days
• Get in the habit of invoicing in milestones – a deposit, commencement, and delivery fee
• Don’t spend money now on an assumption that you’ll receive payment from your clients straight away. Plan your business expenditure so that you are not creating debt and are not dependent on anyone paying on time
• Have more than one income stream – even if that means doing a part-time job or taking in ironing
• If you’re having consistent problems with unpaid bills, then consider joining the Federation of Small Businesses (£195 for the first year), so  you can use their legal assistance to chase your debtors.
• Forecast your revenues and calculate your run rate to understand your business health and future earnings

3. Make a plan

As the saying goes: ‘If you fail to plan, you plan to fail’.

Therefore, even if you’re just setting up as a freelancer for a side hustle, you need to give yourself a clear idea of your monthly costs and how much profit (or other income) you must generate to keep yourself afloat.

Work out what your monthly income needs to be. Make yourself a chart for the next 12 months showing the growth in revenue that you can realistically generate and be clear on how you’ll generate those new clients.

It’s a tough thing to guess, but just the action of thinking it through will provide you with earnings goals and points to consider as you run your business. The Prince’s Trust and the Start Up Loans websites both host business plan templates that can be downloaded for free at the touch of a button.

 

4. Network

A business without a strong online presence is missing a great opportunity. Set a strong online presence from the start, since everything is going digital and people are always on the internet searching for goods and services they need.

Consider creating a professional website with a catchy name. And make sure to use the popular .com extension so it’s easy to remember.

The more you’re ‘out there’ touting for work the more likely you are to get the work. With the internet it’s possible to meet people without leaving your desk.

Join online networking groups and forums and start giving useful advice on areas directly relevant to your business. This raises your profile in a positive way. But don’t spend too much time on it – allocate a certain amount of time each week and stick to that.

Get business cards printed, get out to networking events in your area and make sure you take your business cards wherever you go – you can meet interesting and potentially useful people anywhere.

Have something beneficial that you can offer people when you meet them – make reference to it on your business card or on the website that your business card should refer new contacts to. This is called a lead magnet: something that makes someone get in touch with you after you’ve met. It could be downloading a free guide, booking a free consultation call with you, or something else that is easy for you to do at little cost, but builds trust and starts the client relationship.

Don’t go out and try to ‘sell’ your business or your service. Networking is usually a two-way street, where you create support by being useful to people who then go elsewhere and talk about you in a positive light. Don’t thrust your business card at other people – ask them for theirs and don’t give them yours until it’s asked for. Once you’ve met someone send them an email within 48 hours providing something useful, or the place where they can find that useful thing (e.g. on your website). They now have your contact details and a positive association with you.

 

5. Sales, sales, sales

Don’t shy away from the sales and marketing aspect of the business. Learn how to do it. Study it and practice it. You will probably find it nerve wracking at first but get through it! Question everything you do in the business, asking ‘how is this going to make money?’ If it won’t lead to a profit, then don’t waste your time doing it.

YouTube is a fantastic resource for all things startup, whether that’s Canva tutorials to make your marketing materials or how-to guides on creating sales funnels or best marketing strategies for your industry and business type.

6. Avoid borrowing if possible

While it’s tempting to borrow money to get started, try to avoid it as you could end up in a debt you can’t afford to repay. Instead:

• Try to grow your business organically. Use your own savings, or earnings from another business or income stream to fund it
• Barter services rather than paying for them – offer up your skills in one area in exchange for someone else’s in another
• If you want to go big time straight away and feel you need external funding to do it then put together a professional business plan and discuss it with your suppliers, customers, prospective customers and other ‘known’ potential investors before stepping into the shark-infested waters where venture capitalists and ‘angel’ investors roam.

7. Set up passive income streams, where possible

This is money that comes in when you’re not working.

• Consider incorporating Google Adsense on your website (these are adverts generated by Google that are relevant to the content on your website)
• Think about writing an eBook on different elements of your business subject and selling it on your website, eBay, and elsewhere on the net.
• Automate as much of the selling process as possible by installing PayPal payment on your site and having non-physical products that don’t require any human fulfilment such as delivery or packaging etc – PDF zines, comics and documents for sale are ideal for this
• Affiliate marketing with Amazon Associates is ideal if you discuss products on your website. If readers choose to buy a product that you’ve mentioned through a link on your site, then you get a small percentage from that purchase

 

8. Get online

If you haven’t already, get online. Use online services such as WordPress and Wix to build a website that is totally free.

You should always shop around to find the best possible deal for your web host.

Once your website’s up and running, here’s how you can keep visitors returning to your site:

• Create a community of people by providing a genuinely useful, free, newsletter that’s sent out regularly
• Provide useful content on your site that gives your potential clients the first couple of steps in addressing a problem that they might have
• Include audio and video on your site and use that content on YouTube and similar sites to promote your site
• Provide an easy response mechanism (e.g. blog comments or an email address) so you can find out what your community thinks and wants
• Ensure your business is secure to prevent unforeseen losses with software such as antivirus or VPN.
• Optimize your website for search engines (aka SEO). This is especially important for small local businesses.

 

9. Don’t buy advertising just because you’re offered a deal

If you need to advertise (and it’s better to promote yourself for free to start with) make sure your advertising is targeted, specific and within an advertising budget. Before exploring online marketing packages, think about the following:

• Work out who your customers are, where they are, where they live, what they read, what worries them and what excites them.
• Work out what the message is that you want to communicate so the right people will take action right away.
• Decide what is the best medium to use to communicate this message to your market.
• Take no notice of calls from advertising salespeople from publications you don’t know, even if they’re offering serious discounts and start telling you about all your competitors who are advertising with them.

 

10. Have an exit strategy

Serious business owners set up with an exit strategy in mind from the start as this allows them to plan the business and know why they’re doing it – only then can they effectively plan how they’re going to achieve what they want.

Acknowledge why you’re in business – what’s the lifestyle that you want to achieve? Is this business going to help you achieve this? And at what point will you know that this has been achieved?

What kind of profit level do you need to reach to command a decent fee, and what will you have to do to create that profit? At what point will you want to sell the business or hand it over to your kids to run?

 

11. Give people what they want

Don’t make the mistake of being blinkered about what you want to produce/sell. You have to be very aware of what your potential and existing customers want – not just what you think they want.

Do speak to potential customers – before you start up your business and as an ongoing habit. Take them to lunch, pick their brains, ask them what they want and need, what they hate and what they’d pay extra for. Keep a realistic perspective of what’s selling as your business develops. Is there a sideline product or service that’s very popular and takes less effort than the main offering? If so, focus more effort on it. Do be honest with yourself about what works, what doesn’t and why you’re in business. If you have to make enough to pay the rent, you need to be brutally honest about the success or failure of products pretty quickly.

 

12. Keep your finances in order

Admin is a drag, everyone hates it – but it must be done.

Make sure you:

• Put money aside for your forthcoming tax bill (at least 30% of every invoice)
• If you can, speak up front to an accountant (recommended to you by someone you know) about how much you should put aside for tax and other similar issues
• However if you’re just starting up, you probably won’t have to pay VAT as you’re allowed a £85,000 turnover before you have to pay it. If you’re planning on going over that then you’ll have to contact HMRC to register for VAT. You can use VAT software to help you.
• Keep good records of your incoming and outgoing revenues, your receipts and other related information. Again if you speak to an accountant they will give you guidance on what files to keep, how to organise them and what to do to keep your accountancy bills down
• Accountants too expensive? Though a good accountant is invaluable, you don’t necessarily need one when you’re first starting out. Plenty of people do their own accounts on paper or using an Excel spreadsheet. However, it is smart to hire an accountant for an expanding business or if you can’t handle your accounts on paper. A great accountant can provide audit and assurance services to ensure your company’s compliance, detect and prevent fraud, increase your chances of accessing credit, and ensure better resource utilisation.
• Furthermore, taxes are a nightmare for many business owners due to their complex forms and hefty late fines. This is going to be even more important as Making Tax Digital is rolled out to all businesses earning over £20,000 by 2027 – HMRC will be looking for people making mistakes in the new system, so going via an accountant can be beneficial to prevent costly errors.
• Remember that accountants and bookkeeper fees can be written off as an expense on your tax return as it is a legitimate business cost.

13. Outsource, where possible

Now that we have entered the virtual world, it’s getting cheaper and more efficient to outsource large chunks of a business to UK and Asian-based  services.

A Virtual Assistant can do everything from responding to calls and emails through to bookkeeping, serious business research, and web development for around £12 an hour. Search the internet for Virtual Assistants  and test three at the same time with small, but very similar tasks. Rate them in terms of value for money, accuracy, responsiveness and common sense (this is very important).

 

14. Use targeted marketing

This is an extension of tip number nine (don’t buy advertising).

Work out a detailed profile of your target market: where they live, what they read/watch/listen to, if they have children, if they drive a car or own a home, whether they’re professionals, in a particular business sector or part of the country. Work out an interesting and relevant letter or email blast to send to these people offering them something genuinely useful up front. Put a time limit on the special offer so that they have to take action.

 

15. Get into a niche

As the American industrialist Andrew Carnegie said: “The men who have succeeded are the men who have chosen one line and stuck to it.”

Don’t try to enter a competitive market that requires a great deal of capital and experience. If you’re reading this then you probably don’t have the capital and experience combination that’ll be required! Stick to something that you either know a lot about already or something that really interests you so that you’ll want to find out a great deal about it. If you carve out a niche and personalise it (e.g. be friendly and talkative on your website or in your correspondence), this will differentiate you from everyone else in your market. Combine this ‘difference’ with your market knowledge and the fact that you’re in a relatively small market and your chances of success will be increased.

 

16. Get mentors

You become like the people you associate with so associate with people who are like minded. Join appropriate industry associations – these will also give you the lowdown on relevant industry threats, opportunities legislation and the like. Meet or converse with other entrepreneurs who have nothing to do with your market sector. They’ll be happy to share solutions and encouragement with you in a way that your current friends cannot because they don’t really understand what you are going through or why.

 

17. Take time off

Setting up a new business can be a 24/7 activity and it’s very tempting to spend all your waking hours in the office. But to make sure you’re not overstretching yourself, re-charge your batteries every so often.

Book time off for yourself in your diary (including evenings off to do a sport or socialise). Set hours that match with your most productive times and allow yourself to spend time with your loved ones – they’ll need to know when you’re not going to be working! Revisit your tasks and see what you can outsource cheaply (see tip eleven). Prioritise tasks and see what you could ditch – temporarily or permanently. Be brutal and honest about this – don’t do certain tasks because you enjoy them, do what brings in a profit.

 

18. Be selective about who you spend your time with

Don’t undo your good work by spending time with people who are dismissive of what you’re trying to achieve. Don’t spend too much time with people who make you question your goals and ambitions. People will always criticise what they don’t understand; find someone who you can teach and help. That’s when you really learn AND it’s one of the most rewarding elements of being in business.

 

19. Get what you can for free

Make a habit of looking for a free (or at least cheaper) way of doing what you need to do. Contact colleges and universities to find people who want to build their CV or portfolio and will do free or cheap work on websites, photo shoots, design etc. Put an advert out to schools and colleges, as well as social media networks, for work placements and internships if you feel there are jobs that can be learnt fairly quickly and that will benefit the person doing them even if only through the experience of the real world.

Keep talking to other entrepreneurs, government agencies and business organisations to find out about free things you could get your hands on. See if you can get hold of office equipment through community pages like Freecycle.

 

20. Have fun!

Running a business should be creative, satisfying and enjoyable. It’s a chance to express yourself, meet interesting and creative people, potentially make a lot of money and create a whole new life for yourself.

So do everything you can to enjoy the process of being in business. And make the most of the good times – when you get a big contract or when you complete a difficult task – because the challenging times will come around soon enough.

 

Disclaimer: MoneyMagpie is not a licensed financial advisor and therefore information found here including opinions, commentary, suggestions or strategies are for informational, entertainment or educational purposes only. This should not be considered as financial advice. Anyone thinking of investing should conduct their own due diligence.

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