One of the ways that many companies raise capital is through charging fees. These fees are usually charged on top of regular service prices, allowing companies to advertise low rates, and then make up for it by tacking on the fees. It is hard to find an industry that has been more successful at this than the airline industry. In the last year or so, we have seen a definite uptick in airline fees, from baggage fees ($15 for the first checked bag and $25 for each additional) to higher cost in-flight meals and snacks to even adding surcharges for …read more

Reduce your chargebacks.

With the 53rd U.S. bank failure having happened just a couple of days ago, it is no secret that banks across the country are struggling with loans that cannot be repaid and investments that never pan out. Many banks across the country are trying to make up the difference by raising fees here and there to make up the difference.
 
You may have already noticed that ATM fees are up, especially those that banks charge you if you use try to withdraw money from a different bank than the one that owns the ATM machine. Overdraft fees have also gone up …read more

Investor transaction fees are about to rise.

(www.thegoldenpencil.com)
The other day a writing buddy of mine called. He was tempted to take a writing gig that paid way less than half of what she normally gets. True, it was a rather unique opportunity with a major trade publisher. If he did this job well he’d have an excellent contact which might lead to more lucrative work in the future. It wasn’t, however, a book, nor did it earn royalties. In my mind, the “might lead to more lucrative work” some day, some time down the road is, well, most often futile.
We’re close so I asked him what …read more

(www.thegoldenpencil.com)
As you who follow this blog, I’m a big proponent of charging enough for your writing. Of course, just how much is enough is an open question. My experience, however, indicates that many freelance writers consistently under-value themselves, often in an attempt to keep the cash flowing.
It doesn’t usually work that way. When you charge less for your writing than it’s worth, you expect less from yourself and your clients will follow right along with your thinking. When you charge what you’re worth, your confidence increases and so does the confidence your clients have in you. You also begin to …read more

Publishers Weekly today announced that the Author’s Guild is warning Simon and Schuster authors to be extra careful when signing an addendum to their book contract that alters their ebook royalties.
According to the article, the addendum may actually change author’s rights in favor of the publisher.
I don’t have a contract with Simon and Schuster so I haven’t seen the letter in question. But I know how important it is to understand throughly any contract you sign. Publishers are like any business – charged to make a profit, and will often do so almost anyway they can.
The article also suggests …read more

A client sent me to a meeting and put me up overnight in a very nice hotel. When I checked in, they asked for my credit card, which I gave them. The next morning, when I looked at the invoice which had been slipped under my door, I confirmed that the billing address was my client’s and not mine. The meeting was highly productive, the amenities at the hotel outstanding and I felt totally pampered.
A couple of days later I was checking my business checking account online and realized I’d been charged for the room and the meals… not only …read more

My favorite writing client is the person who knows what they want written. I mean they know specifically both what they want to accomplish and how they want it done. If it’s a ghostwriting client, that means they know why they want to write a book, what they want the book to say, and maybe, at least in a general way, how they want that said. This kind of client is a cakewalk.
The kind of client that drives me nuts are the ones who have only the vaguest notions about why they want a book written. Since they don’t know …read more

This is taking chances month at the b5media.com business channel. We’ve been challenged to do something slightly differently. Hence my call for guest bloggers the other day. (And you’re still welcome to submit one, or two, or… )
I’ve also changed the tag line – no, not the one under the logo on top (more about that in another blog) but over on the right, above my name. The new tag is: Making good money as a freelance writer.
What do you think? Is that a better description of this blog? Do you have a better idea? Let us know.
Write well and …read more