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I posted on the forum earlier this year about a business idea. I'm still working on this idea, but it's been moved to the back burner since I've been getting more freelance work. Most of the work is book editing, which is what I've been doing for a few years. I also started writing blogs and copy for an online content creator. It doesn't pay a lot, but it's taught me a lot about running a creative business online.
Then there was a very unexpected gig. One of my friends is writing a book, and she started a YouTube channel to build her online following. I asked if I could give her some feedback on her videos. The tips I gave her were pretty simple and easy to implement, so I thought that would be the end of it. But a little while later, she asked if she could hire me to edit her videos! And almost every time I give her feedback on marketing/social media, she asks if she can just hire me to do it for her. (She has a full-time job and is a couple decades older than me. I was born in the 90s, so I grew up around computers, social media, etc.) Recently, she asked if I could put together a formal proposal with recommendations and a price quote. So I did some frantic research and put something together. (She is still reviewing it, but has told me she loves what I put together.)
I know quite a few people who want to market themselves online but don't have the time, skills, or money. I'm no expert on digital marketing, but I can do basic things like schedule social media posts, edit videos, and create basic graphics. So I talked to a mentor of mine about the stuff I've been doing, and asked if it could be a business. She connected me with a friend of hers, who not only gave me advice, but wants to hire me, too! She has also offered to train me in SEO.
I'm excited, but I'm also freaking out!
I think this business has limited potential for scaleability. I can automate a lot. I can schedule social media posts. I can create a brand strategy with my clients so each brand has set colors, fonts, music, etc. But I still have to create the graphics, edit the videos, etc. I can batch it and be smart about how I do it, but it can't be automated. And it doesn't make sense to outsource since I enjoy the work and it's a personal, creative process for me.
Since I'm doing very basic tasks, I don't want to charge too much. I'm not a graphic designer or video editor by trade. I also want to keep my fees low to appeal to folks who don't have a high budget. As I said, my market is people who don't have the time, skills, or money to do social media marketing. We're talking about people between their 40s and 60s who are marketing a book or running a small online business and need someone to do basic social media.
I'm thinking about a sliding scale: pay what you can between $50 and $300 a month for x services.
I also would like to have a brand setup package for people who haven't even started marketing. This would include basic brand strategy, a basic website, and a mailing list. (This is something that I offered to my current client for $75-200.)
The problem with the flat monthly fee is that different people need different things. Not everyone has a YouTube channel. Some people already have a website. Some people need copywriting, some people need Instagram graphics, some people need Tweets, etc. The range of services is so broad that I have no idea where to begin with pricing.
I should also add that I'm not expecting this to make a boatload of money. I'm viewing it as more of a lifestyle business. Is that bad? I know this is the Fastlane Forum.
I must admit that I'm not 100% into the Fastlane lifestyle yet. Does this business have the potential to be Fastlane? Or can it only ever be a lifestyle business?
It feels scary to throw all these numbers out there... I know people charge a lot more for what I'm doing, but I don't want to price myself out of my target market.
Then there was a very unexpected gig. One of my friends is writing a book, and she started a YouTube channel to build her online following. I asked if I could give her some feedback on her videos. The tips I gave her were pretty simple and easy to implement, so I thought that would be the end of it. But a little while later, she asked if she could hire me to edit her videos! And almost every time I give her feedback on marketing/social media, she asks if she can just hire me to do it for her. (She has a full-time job and is a couple decades older than me. I was born in the 90s, so I grew up around computers, social media, etc.) Recently, she asked if I could put together a formal proposal with recommendations and a price quote. So I did some frantic research and put something together. (She is still reviewing it, but has told me she loves what I put together.)
I know quite a few people who want to market themselves online but don't have the time, skills, or money. I'm no expert on digital marketing, but I can do basic things like schedule social media posts, edit videos, and create basic graphics. So I talked to a mentor of mine about the stuff I've been doing, and asked if it could be a business. She connected me with a friend of hers, who not only gave me advice, but wants to hire me, too! She has also offered to train me in SEO.
I'm excited, but I'm also freaking out!
I think this business has limited potential for scaleability. I can automate a lot. I can schedule social media posts. I can create a brand strategy with my clients so each brand has set colors, fonts, music, etc. But I still have to create the graphics, edit the videos, etc. I can batch it and be smart about how I do it, but it can't be automated. And it doesn't make sense to outsource since I enjoy the work and it's a personal, creative process for me.
Since I'm doing very basic tasks, I don't want to charge too much. I'm not a graphic designer or video editor by trade. I also want to keep my fees low to appeal to folks who don't have a high budget. As I said, my market is people who don't have the time, skills, or money to do social media marketing. We're talking about people between their 40s and 60s who are marketing a book or running a small online business and need someone to do basic social media.
I'm thinking about a sliding scale: pay what you can between $50 and $300 a month for x services.
I also would like to have a brand setup package for people who haven't even started marketing. This would include basic brand strategy, a basic website, and a mailing list. (This is something that I offered to my current client for $75-200.)
The problem with the flat monthly fee is that different people need different things. Not everyone has a YouTube channel. Some people already have a website. Some people need copywriting, some people need Instagram graphics, some people need Tweets, etc. The range of services is so broad that I have no idea where to begin with pricing.
I should also add that I'm not expecting this to make a boatload of money. I'm viewing it as more of a lifestyle business. Is that bad? I know this is the Fastlane Forum.
I must admit that I'm not 100% into the Fastlane lifestyle yet. Does this business have the potential to be Fastlane? Or can it only ever be a lifestyle business?It feels scary to throw all these numbers out there... I know people charge a lot more for what I'm doing, but I don't want to price myself out of my target market.
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