Three Steps to Wealth and Freedom
Book Review by Thomas Albert of
Making Money in Technical Writing: Turn Your Writing Skills into $100,000 A Year

Peter Kent's 270 page career guide (1998: Macmillian General Reference USA, http://www.mcp.com/mgr/acro) provides a long term career growth plan--from the initial analysis of whether contracting is right for you, to business strategy, to tax details. You can read the clearly written book from cover to cover, or jump to any of the 25 chapters. As an optimistic career guide, it advocates three steps to wealth and freedom: (1) working for recruiters, (2) independent contracting, and (3) independent consulting.

Step 1: Freelancing for Technical Service Agencies
You want to be paid at least a base hourly rate for overtime, know there is no job security in being a "captive" staff member and are willing to shop for medical insurance. Interviewing for jobs every six months instead of every four years is acceptable. You have the discipline to save most of your increased earnings so that you can live for several months between lucrative contracts. Send your resume to 90 recruiting agencies: you will get several phone calls each week and learn more about the contract market. When negotiating your hourly fee, tactfully let each agency know that you have opportunities with other agencies. In preparation for Step 2, each time an agency sends you on an interview, add to your personal computerized database of contacts.

Step 2: Independent Contracting
You have worked for recruits for a couple of years, built a network of contacts, and saved enough money to start your own business. You are willing to invoice clients for your hours and tolerate up to 90 days before you get paid. You network at STC meetings and with writers you met during Step 1. You go to job fairs, read the classifieds, meet human resource specialists inside client companies. You even throw networking parties at your house as a tax deductible business expense. Each time you get a contract, you expand your network by introducing yourself to hiring managers in the company's other departments.

Step 3: Independent Consulting
Through being exposed to different tools and technologies in contracting, you have developed an impressive resume, list of references, and network of contacts. You know the market and the kind of money it is willing to pay for efficient project completion. You have used stopwatch programs to develop your skill in estimating the hours required for different kinds of projects. Now you are ready to assume complete control of entire projects, maximize your profit margin, and charge a fixed price. If your client wants a 300 page book, you might charge $100 per page for a total of $30,000 for the project. You hire subcontractors if necessary to ensure you meet the deadline. You save time by knowing how to program Word or FrameMaker macros. You often work at home and never disclose how many hours you work on a project, because your secret goal is to make $150 per hour.

(This article has been submitted to the Silicon Valley Connection newsletter.)