The Wealthy Freelancer: Book Review
When a copy of The Wealthy Freelancer showed up at my door, the wife was quick to open the package and start perusing the contents. Now, I won’t get into how I feel about other people opening my packages, but what she said next caught my attention.
“You’re going to like this,” she said.
I asked her why, but she kept replying, “Just read it. You’ll find out.”
So I did.
What’s it about?
The Wealthy Freelancer is actually a collective work of three career copy-writing freelancers – Steve Slaunwhite, Pete Savage and Ed Gandia.
The book boils down to their collective experiences during their freelance career and is broken up into 12 secrets to building a high income in any freelance occupation. And although the authors are all copywriters, there are enough interviews and experiences from a wide range of freelance professionals to give the book a broad appeal.
What’s in a name?
When I first heard about The Wealthy Freelancer and its 12 secrets, I imagined it may require a healthy dose of Kool-Aid to wash down. The problem with many books claiming secrets to wealth is that they typically dispense knowledge that is long on theory and short on practicality.
While The Wealthy Freelancer has plenty of wealth building ideas it doesn’t downplay the hard work that is involved when putting them into action. There are no easy paths to the executive income and while the contents of the book may help you refocus your efforts, the authors are upfront and honest about the work that will be required to be successful.
What’s inside?
Each of the 12 secrets contains strategies and success stories of freelancers who have actualized them to a measure of success.
Here is just a sampling of what’s inside:
- Secret 1: Master the Mental Game – Whether you’re just starting out in your freelance career or well along your way, having a clear action plan is invaluable. You will really appreciate the advice on defining your ideal freelance day along with a set of business standards. With that in hand, you’ll be well along in being focused on who you want to work with rather than just taking any job that comes your way.
- Secret 2: Simplify the Process of Getting Clients –Our AskFreelanceSwitch column gets the “How do I find clients?” question asked more than any other question. This chapter will aid you in developing a strategy for finding and turning leads into prospects.
- Secret 5: Cultivate Repeat and Referral Business – Word of mouth is a powerful tool in increasing your client base. This chapter contains action tips for earning repeat business and advice on when and how to ask for referrals.
- Secret 7: Price Your Services for Success – Probably my favorite chapter. Here you will learn how to determine your prices and quote effectively. Even when asked the dreaded “ballpark” question, the chapter gives good direction on how to respond and why it is not such a bad idea to ballpark your price.
- Secret 8: Bring Focus to Your Freelance Business – I think we as freelancers all suffer time to time from a lack of focus. Taking the magnifying glass to what you currently offer and then identifying the market for your services helps you avoid needlessly spinning your wheels or getting stuck doing work you hate.
- Secret 12: Live and Work in the Wealthy Triangle™ – While I found this chapter a little short on application, I did appreciate the authors touching on the fact that more money doesn’t equal more happiness. Wealthy Triangle™ living means you can still be successful without sacrificing time with loved ones or time spent pursuing your own passions.
Conclusion
If you are just beginning your freelance career, there are plenty of common mistakes that can be easily avoided, and this book will help you identify and hopefully avoid those mistakes. For the current freelancer looking to increase his take home pay, you’ll no doubt find some suggestions to put into practice as well.
The Wealthy Freelancer has been lauded as the must have book for freelancers. And while you may not execute or even agree with all the advice given, I do believe there is something of value in the book for almost any freelancer.
As mentioned previously, I particularly enjoyed the sections dealing with methods for successful quoting and the encouragement to stand up and fight for your ideal freelancing experience. So much about being a successful freelancer is how we define where we want to be and how we focus our efforts in getting there. I believe this book can help with that.
While the authors do have a succinct focus on the copywriting sector, their writing is top notch and there are plenty of tips that will have a crossover benefit to almost any freelance business. That being said, if you are currently a freelance copywriter, you would be daft not to own a copy of this book.
The 274 page book is currently available from Amazon for $11.53.
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Thanks for your objective and balanced review on The Wealthy Freelancer. It is a contender for next month’s All Freelance Writing Virtual Book Club, and I’m going to vote for it…just had to vote for The Well-Fed Writer first. I like the concept of this book. I read a lot of books about wealth building but I am always weary of the books I read because so many are drowning in Kool-Aid. I’m glad to see something similar to a favorite of mine (highly actionable) Donald Trump’s Wealth Building 101 geared towards freelancers. As a freelance time management writer and professional blogger, I definitely have an interest in a wealth building book for freelancers by freelance copywriters.
Nice and balanced review Travis. The one thing I don’t like about such books, whether paperback or digital, is that they sell packaged solutions, while not providing anything solid. Being a freelancer mostly means being the doorman and the CEO of your business at the same time, and you don’t only do the job, you also find the job, again and again and again. Seems to be an interesting book though.
Thanks! I ordered this a couple days ago and I’m looking forward to the read even more now.
I’ve been reading this slowly for the last week or two – there is some good advice and some fluff.
I’m a little tired of reading phrase “the wealthy freelancer”
I’ve just about finished with this book. I think it makes some good points — have a fee schedule, produce a buzz piece that you freely share with others, and expect that becoming wealthy won’t be easy.
However, like a lot of books of its kind, it tends to be too networking-focused. Which begs the question of what happens to you and your business if your network doesn’t have people who fit your ideal client profile.
My own personal network is a good example. I do business with scientific and technical types in universities, companies, and government agencies. I am not personally acquainted with many people who fit that description. Which means that I have to prospect by cold and warm calling. And I do it. Every work day, in fact.
The authors of The Wealthy Freelancer seem to be down on cold calling and that’s a shame. Because networking just isn’t the panacea for everyone. Sometimes you have to pick up the phone and call strangers to ask them for their business.
I’m honored that FreelanceSwitch has reviewed our book! And thank you everyone for your comments.
@Jessie – Wanted to clarify something because it’s not readily apparent from the title of the book. We take a much broader definition of wealth. To us, it’s about consistently having the clients, projects, income and quality of life you want. It shouldn’t be a tradeoff. You should be able to enjoy all 4 of these without having to give some of them up.
Also, even though the book is not necessarily about how to accumulate material wealth, the ability to increase your income for every unit of effort you put forth (a big premise of the book), is hugely important. And that’s what most of the book is focused on — how to increase your income without necessarily having to put in the equivalent number of hours. Yes, it takes work to set up your business so that you get more out of every hour you put it. But in the long run, these strategies will bear a lot of fruit.
@Martha – You bring up a good point. Although we emphasize starting with your network, we also recognize that you’ll need to supplement that with “cold” approaches. Our preference, however, is to use direct mail as your “cold calling” weapon. When done correctly, it can be very effective. And when used with phone follow-up behind it, you’ll almost always boost your response.
Also, keep in mind that we promote a very diversified promotional approach that focuses on 3 – 5 strategies that work well for you, your business and your specific situation. Cold calling is listed in our Quadrant 2 list, which is a list of promotional activities we recommend.
@Ed,
I really appreciate the time you took to respond to me personally. I wanted to let you know that is, in fact, my definition of wealth as well. As it is in the Donald Trump book, although there’s a big focus on millionaire and billionaire incomes, it is still about a balanced and happy life.
I’ll definitely be voting for this book for next month’s virtual book club at AllFreelanceWriting.com. I am really looking forward to reading it.
Re: the networking focus, that is delightful to here. To me, networking is the most important thing in business. This is my eighth business, all successes under my belt and this one is shaping up just as successful, and networking is how it is done. I focus on making connections with people, although I’ve been known to cold call and cold email / query, I’m often just striking a conversation with these calls and emails. I want to make networking contacts and show them what I can do. They’ll come to me!
Get it on iPad from iBook for $9.99!!!!!! cant wait to read it.
Nice review. It sounds like a good book and is going to be ordered here in a couple weeks
Thanks!
Far be it from me to be against networking.
But here’s something I’ve learned: When I’m out on the networking trail, I am very clear about what kind of clients I’m looking for. To the point of being adamant, but, hey, that’s just me. I’m an adamant kind of gal.
Reason for this adamant approach: I’ve learned the hard way that my business doesn’t prosper unless I’m very focused. Like a laser beam.
So, if you don’t fit my Ideal Client Profile, well, sorry Charlie, we just aren’t going to do business. I do design for science, technology, engineering, and math programs in universities and government agencies. I’m also interested in scientific and technology-based companies. That’s my ICP.
My ICP rules out doing design for shoe stores, insurance agencies, bakeries, and many other worthwhile enterprises. Those are for other designers to handle.
sometimes .we could imagine the freelancing stuff…..books always give you a way from his style…..freelancing means feel free to try and do ..even if its really hard time to pass
@Jessie – Thanks for your support!
@Martha – Completely agree with you about getting really focused when you’re networking. In fact, I say that going deep with one or two VERY targeted organizations is the way to go — rather than going for 5 or 6 and never growing roots. And your take on having a very clear and specific ICP is dead on! Love that!
This sounds like a great book, I put it on my list.
I just got myself a copy of this book, I hope it’s not too old! Over one year, shouldn’t be that old
Best,
Shaun Wallace // Freelance Web Designer, Developer, and Marketer