You’ve heard it before, right? As an entrepreneur — if you’re a freelance medical writer, you are — you need to spend money to make money. I think it’s an investment in myself, not someone else. However, sometimes this is a difficult concept to implement, especially when you are new to the business and just starting out. There is little money, few customers and the fact that you no longer have a fixed salary affects every decision you make. I know because I’ve been there.
However, to become a freelance medical writer, you need to invest your money wisely in resources that will positively contribute to your bottom line. Here are 5 ways to spend money that will benefit your business in the long run:
Update your business card. Yes, even in this age of online social networking, when you meet colleagues and potential clients in person, you still need a business card to pass them on. Invest in a well-designed, professional-looking card and don’t forget to include URLs to your LinkedIn, Twitter, and business website pages. Carry one with you. Vistaprint makes it easy to design and order business cards online.
Hire a bookkeeper. They are not as expensive as you might think. Plus, with their tax law expertise, they can save you money by pointing out deductions and business expenses you didn’t know about.
Buy listings in the Freelance Directory of the American Medical Writers Association (AMWA). For less than $100 a year, this is one of the most cost-effective marketing tools I’ve found. I have won several clients over the years who first got to know me through my listing in the AMWA Freelancer Directory. I know some naysayers think this is a complete waste of money. However, I believe that a well-written list that highlights your area of expertise is a great way for potential clients to find you.
Develop good marketing materials. Marketing is not an optional investment if you are a freelancer. This is a mandatory fee that you need to grow your business. However, there is no need to get angry. Professionally print simple 1-page marketing articles or tri-fold brochures with beautiful graphics at a reasonable cost (Vistaprint also offers these services). Also, don’t forget a website. You can buy a domain name for less than $20 and get 1 year of hosting. The main cost is having someone design your website and keep it up to date.
Improve your skills with a lesson or two. Check out medical terminology and write foundational courses in your local community or 4-year university. Or visit the annual meeting of AMWA. Your registration fee will cover all public meetings, including public meeting medical communications, which provide an overview of the medical communications industry. AMWA’s Extended Education program allows you to earn certificates in medical writing in many different fields.
