An additional expense may include starting your own website, which many technical writers use to display their work and market their business. Depending on how much work you can take on, you can potentially make a considerable amount of money as a technical writer. In addition, if you have specific skills that are sought out by companies, your income can increase substantially.
Other than the cost of your Internet service, you will have nearly no monthly expenses as a technical writer. Considering the low, monthly expenses associated with a part-time technical writer business, you have a great chance at breaking even almost immediately.
As a technical writer, you must consistently meet deadlines for your clients, which can prove to be quite stressful at times. You must also be able to juggle several jobs at one time and constantly market yourself and search for your next job.
Marketing Plan Template - Download this free template to create a detailed marketing strategy for your business. Product or service to be offered —One of the most important sections of the business plan is the description of the actual product or service to be offered.
If it is a description of a product—a physical object—you need to use the techniques for technical description. If a service is to be offered, explain it and take readers on a step-by-step tour of how the service will be handled. Technical background on the product or service —If your product or service involves technologies or technical processes potentially unfamiliar to your readers, explain these. Remember that business plans often go to nonspecialists who, despite their lack of technical expertise, have the investment funds or the legal understanding to get your business going.
Market for the product or service —Critical also to any business plan is the exploration of the existing marketplace into which your product or service fits. What other companies exist that offer the same thing you plan to offer? How much business do they do? How are they different from each other? How will your business differ from them? Process by which the product or service is produced —If applicable, explain how the product or service will be produced.
Explain how the proposed business will operate on a day-to-day basis. Facilities and personnel needed for the operation —Plan to discuss the facilities storefronts, warehouses, production facilities, vehicles your business will require as well as the personnel that will be needed. Projected revenues from the operation —Of obvious importance in any business plan is the discussion of the revenues you project for your business. If you know the estimate of total revenues for the market area in which you plan to operate, what percentage do you expect to win?
Obviously, in your first few years, you may operate at a loss—at what point in time do you project to break even? Legal issues related to the proposed business —Your business plan may also need to discuss your business, its products, or its services in relation to government regulations—for example, environmental restrictions.
Qualifications and background of the personnel —Important too is the section that presents your qualifications to start and operate the business you are proposing. Of course, "you" can mean a number of people with whom you are working to start the business. Obviously, you believe that it will be a success, but you must find a way to support this belief with facts and conclusions in order to convince your readers.
Also, you must discuss what sort of return on investment readers can expect. What does it take to start your own technical-writing business? I began mine by getting a loan from my local bank for my first computer to set up a home office. It was a Micron desktop , the fastest computer in town! That was nine years ago.
I now have a nice office, a sizeable staff, and all the work I can handle, most of the time. Not everyone starts his or her own business the way I did. I started small and have maintained somewhat steady growth over the last nine years.
My background is in education. I have a degree in English and Journalism, but I worked as a technical writer with a local company for a few years, and later as an independent contractor before starting my company. I made the decision to form my business while working as an independent contractor. I wanted to look and feel like a real company and to separate my company and personal assets. So I took the dive. Another thing that motivated me to start my own company was my past experience working for large companies.
I knew I hated company politics —the meetings about meetings, the undermining by co-workers of other co-workers, all those types of situations that go on in large companies. At that time, a friend of mine was working as a technical writer in New York.
We had been sending copy back and forth to each other for editing before giving the final versions to our clients. Since we were already helping each other, I proposed we start a company together. We worked as partners for about five years before going our separate ways due to family issues.
Caution: In a technical writing course, treat a business-plan project as a writing project, not as a real-world business plan. This chapter should not be viewed as a .
Many technical writers work on a freelance basis, and many writers work from home. Given today’s soft economy, many companies are turning to freelance technical writers to save on the costs of full-time employees. As a result, the technical writer who works from .
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