What I realized is that it goes beyond knowing that you're a good writer. It also helps to keep in mind that if you want to make a living out of writing, you should have rates that would help you pay your bills, buy your food, have a roof over your head, etc. And you can't do that if you're working for several microcents per word. Alright, I made microcents up, but how else would you call the value of money under a cent?
There are a ton of resources you can get online for free and there are many books that you can also buy for cheap on Amazon to get you started. -Ray Edwards
Setting reasonable rates is one of the hardest parts of being a copywriter, in my opinion. I made the mistake of taking on some on-going work at a rate of one cent / word, and I'm finding that the rate isn't sustainable. I set higher rates for new clients, but as soon as I've finished the agreed work with this client, I'll be re-negotiating my rates. I doubt I'll be able to negotiate up to the rate I charge other clients though, because I've set a bad precedent with my starting rate. I hope others don't fall into the same trap!
You got it there, my friend. In the long run, it's not about working hard but working smart. Sure, people can work for 1c/word for let's say 16 hours a day. But why work that long when you can earn more than that by working fewer hours? And this goes to those who say that they'll work for very low rates thinking they can negotiate upwards later on. But the thing is that it rarely happens. Most of the time, you can only negotiate downwards. And yeah, I hope others won't fall into the same trap.