Editors, Writers, Publishers: Theory on Payment

One of the key mindsets a writer should have when they approach writing as a business is how to increase their perceived value.

Equal to this is translating to prospects—editors, publishers, clients, readers—the unique solution to the prospects problem that they are the owner of.

So, for example, writing strong copy for an editor that is predictable and on time can add to your perceived value because you are solving a key problem editors have: Receiving strong, clean copy, on deadline.

This can work in the other direction. As a former magazine editor, I was always frustrated (hugely so) by the fact that we paid so little for freelance writers. And we expected them to go above and beyond by producing great stories that were very well written.

I had no influence or control over the purse strings, but I could find other ways to add value to writers for writing for my magazine.

The key strategy was paying on acceptance, not publication.

As writers know, when you submit a story to an editor, they generally accept it—meaning it is what they were looking for and all is well—within a few days to a week.

But publication may not be for weeks or months.

There are two opportunities here to add value and offer a unique solution to writers.

The first is accepting work quickly, within that few days to a week timeframe. Or at the very least send an email explaining why it will be delayed.

The second is paying quickly. Even some payers who accept quickly can work on a 30 day payment schedule, which always turns into 35, 40, 45… But even two weeks is unhelpful if you’re a freelance writer working on tight margins trying to pay bills.

By issuing a check the day of acceptance—or a few days after—you become very valuable to that writer even though you are paying peanuts for their work because:

1. Writers will know they can submit their work and get paid within a week or so, which means they can bank on that money.

2. They will put their best first effort in because they want acceptance because they want to get paid.

3. They see you as predictable and on their side.

4. You solve a huge problem for writers, which is simply getting paid.

And because of these reasons, you will get better work and get it on time because they see you as a partner and ally…and will work for low pay knowing they will be paid quickly and without hassle.

If you direct deposit, all the better.

Bottom line: Writers should seek to add value by providing a unique solution, and so should editors, publishers, etc. It’s a win-win.