Something crazy is happening all around the world. New and unexpected start-ups are turning themselves into billion dollar businesses, unhappy employees are kicking off the 9-to-5 jobs and accepting the life of solopreneurs or freelancers and people are successfully turning the boring work into something they really want to do. And what are we doing on StartupChamp?
We’re just trying to play our part in all this and through our Startup Ideas series, we’re trying to introduce you to some amazing ideas that can change the way you live. Today’s amazing startup idea is EDITORIAL SERVICES BUSINESS. In this write-up, we’re going to talk about what this business actually is, what’s the scope in this business and how you can get started with it.
What do you mean by Editorial Services Business?
Well, let’s talk about what’s the basic job role for someone who runs such a business. It is to write, edit, market and manage content for clients. There are a lot of services that come under this kind of business.
Here are some of the most popular editorial services that you can provide if you set up such a business.
- Copyediting: You would be required to check the content for grammatical, typographical and stylistic errors.
- Proofreading: the task of the proofreader is to pass the final copy of content to the client. A proofreader makes sure that the copyediting task is done properly and no errors are present in the content.
- Book Doctoring: This service is provided for the manuscripts that are written by experts. The experts create the manuscript and the book doctor makes sure that it is in publishable and understandable shape.
- Ghost Writing: As a ghost writer, you do the research and prepare the write-up but it gets published under someone else’s name.
- Copy Writing (Business Writing): This is the kind of writing that is used to promote a business or a service or a product.
- Book Writing: This is now popular as eBook writing. You can use up your expertise to write a book on a particular subject for your client. This might also include the usual book writing where you write a book and get it published under your name.
- Article Writing: You can write short articles 500-1500 words for magazines, blogs or newspapers. This also brings you recognition along with money.
- Web Page Content Provider: This is definitely different than writing blogs. A website’s content differs from client to client and is usually written in an informative manner.
- Technical Writer: did you ever think who wrote the manual for the new phone you just bought? This is what technical writers do.
What it is like to run an editorial services business?
As it may be very clear from the previous section, you have to do a lot of writing and editing. You might also need to do some negotiation for some clients won’t be happy with you for rewriting or cutting off a part of their content. You would be required to tell them why you did that, why it was necessary and make them understand.
You would be working as a freelancer. So, it would be really easy to control your schedule and work timings. The amount of work depends upon you. You can enjoy the flexibility of choosing the projects you really like.
As far as earning money is concerned, it depends upon how much you charge. You can charge on hourly basis or on project basis. My advice would be to start really low because initially it would build up your experience and reputation and then gradually increase your prices.
You don’t require a professional degree or something for starting off with this kind of business. All you need is a strong and thorough knowledge of grammar, usage and good vocabulary. Each kind of writing style differs and would come to you with practice and research.
In case, you’ve a degree in some subject, you can work as an expert in that subject. That can bring you more business in that field.
How to get started with the editorial services business?
- Develop a business plan: A business plan is of utmost importance when it comes to starting any kind of business. So, first thing you need to do is to research and make a business plan.
- Train yourself: I have already mentioned that formal training isn’t necessary for such a business but that doesn’t mean that you need no training. No one likes to hire novices even at rock bottom prices. Training would ensure that you have an adequate amount of knowledge about the business you want to be in and you fully understand the method and structure of editorial services. Find out more about different kind of editorial services, read a lot and practice.
- Find your target market: Plan about the different kinds of people/organizations you would like to work with. Don’t just jump to the big players in the market. Start small. Your potential clients can be publishers, independent self-publishing authors, businesses, magazines, freelance writers and bloggers, newspapers, website owners, students writing theses etc. List all the clients you would contact in your business plan.
- Gather experience: This is why I suggested you to start small. Focus on building an online portfolio. An empty CV won’t bring you clients. When you have testimonials and proof of your work and expertise, you would get more clients than you can handle.
- Financial Assessment: this is an important aspect of being a freelancer. Consider how much you need to earn, how much you can earn and over what period of time. Do remember that it does take time to get started off because initially you would be doing nothing but building your portfolio which would act as the foundation of your business. Once you have that, you can easily earn good sum of money.
- Build your marketing strategy: Marketing is one of the most important factors that determine the success of any kind of business. Instead of going with it in a haphazard manner, plan it and succeed. In editorial services business, personal branding is of utmost importance. The kind of clientele you would have, you need to present yourself as a trustworthy brand.
Scope of this business
If you’re thinking no one reads anymore, then probably you didn’t understand what editorial services really are. There is a HUGE scope in this market. Internet is driven by content and so are other businesses. And you can be the one who can provide all that content.
You can initially begin as a solopreneur and then build an entire team of experts as big as you can handle. The scope of earning money is endless. All you need to do is to get started!