3 Critical Admin Tasks to Keep Your Freelance Copywriting Business Thriving

As a freelance copywriter, staying on top of key admin tasks is crucial for keeping your business running smoothly. In this guide, we’ll explore the essential annual tasks that every freelancer should prioritise to ensure ongoing success.

1. Securing Digital Infrastructure

For a freelance copywriter, your digital infrastructure is your workspace, your client’s portal, and your creative hub. If your digital infrastructure is compromised, your ability to work and meet deadlines, not to mention your client’s trust, is at risk.

You have to protect your digital workspace from any external threats such as malware and viruses, phishing and data breaches.

How can you secure your digital infrastructure?

• Use strong, unique passwords: This is a given, but using unique passwords are the first steps to securing your digital infrastructure.
• Enable two-factor authentication: Another given, and yes, it is a terrible inconvenience when it comes to using it but that extra layer of security is a must.
• Keep software updated: Regularly update you operating software, including applications and antivirus software. This will help to protect your copywriting business from vulnerabilities.
• Use Secure Networks: Freelance copywriters often enjoy working from cafes or libraries, but using public Wi-Fi for sensitive projects can expose your data to interception.
• Hire a Cyber Security firm: There are so many cyber security companies around the world, from those specialising in cybersecurity in Fort Worth, to specialists in Mumbai. They all cater to freelance copywriters who require extra security to protect not only their own work and information but the information of their clients.

2. Review your Business’ Insurance

Whether you’re running a massive corporation or a one-person operation, insurance is crucial. Freelance copywriters often need specific types of insurance to protect their business from potential risks. The right insurance coverage can protect you against financial losses due to lawsuits, accidents, theft or other unexpected events.

What are the key insurance types a freelance copywriter should consider?

• Professional liability insurance: This covers legal costs and damages if your client claims that your work caused them a financial loss.
• Business owner’s policy: This protects your business property, for instance, equipment such as laptops and screens or office furniture. It may also cover liability claims.
• Cyber Liability Insurance: As mentioned in the previous point, securing your digital infrastructure is essential for a freelancer copywriter. That’s why it’s worth getting insurance specific for losses related to data breach, hacking and other cyber attacks. This insurance usually covers the cost of data recovery, legal fees and credit monitoring services for clients who have had their data compromised.

3. Financial Management

This is technically an ongoing task that you have to keep on top of throughout the year. Due to fluctuating income, which comes with the territory of being a freelancer, financial management is one of the major challenges a freelance copywriter faces.

How can a freelance copywriter keep on top of their finances?

• Track your income and expenses: From travel expenses to the mini project you worked on for a friend, take note of all your financial movements in a spreadsheet. This should be ongoing throughout the year so that when it comes to tax season, you have everything in order.
• Record your Invoices: This coincides with the above point. Start with creating an invoice template. You can search for them on google, there’s hundreds of free templates you can download. You can track your invoices on a spreadsheet where you can keep on top of late payments. Alternatively, there are some great money management apps that allow you to send out invoices and keep on track with them. Bonsai, Invoicely and Freshbooks are just a few programmes worth mentioning.
• Don’t forget your taxes: As a freelancer, you need to pay your own taxes. This might seem like a daunting task, but if you have managed your finances wisely throughout the year, taxes aren’t so bad. In saying that, each country has their own taxation scheme. So if you are a freelance copywriter who resides in Canada, you would have to comply with a different tax code to that of a freelance copywriter in Spain.
• Save, save, save: To ensure that you don’t get any surprises at the end of the year, put money aside at the end of each month. A good starting point is about 20% of your monthly income.
• Hire an accountant: Although this seems like an unnecessary expense, hiring an accountant could help you save money in the long run. That’s because accountants know more about the tax system than you do, so they know where you can gain governmental benefits, and where you can save on taxes. Moreover, an accountant will go through all your financial paperwork once a year. They will check to make sure that everything is up to code, keeping the taxman at bay.