An American Editor

July 3, 2019

It’s All About the Benjamins! EditTools’ Time Tracker (Part I)

By Richard Adin

In the early years of my freelance editing career, I joined the EFA (Editorial Freelancers Association) as a way to “meet,” via its chat list, other freelance editors. One thing that struck me was how united — except for me and a very few others — EFA members were in their approach to the business of editing. We outliers viewed our chosen career as a business, while most of our colleagues viewed what they did as more like art; that is, they paid as little attention as possible to the business side of freelancing and as much as possible to the skill (editorial) side.

There were many discussions about financial struggles, poor pay, added tasks, multiple passes, and the like. There were few discussions (and very few discussants) regarding advertising, promotion, business practices, calculating what to charge, negotiating — any of the business-side skills. And when business-oriented discussions did start, they often ended quickly because colleagues piled on about how craft was so much more important than something as pedestrian as business and money.

As I said, I was an outlier. For me, it was about the Benjamins (the money). Freelancing was my full-time job — my only source of income. I had a mortgage to pay and two children to feed, clothe, keep healthy, and school. I had no trust fund or wealthy relative who couldn’t wait to send me money on a regular basis. Although how well I edited was very important to both myself and my clients, the money was equally important to me.

I recognized from the start that if I didn’t pay close attention to the business side of freelancing, my family and I would be in trouble. When my son needed $5,000 worth of dental work, it was my job to make sure he got it. It was not my job to tell the dentist, “Sorry, but I am an artisan without sufficient income to pay for your services.” When it came time for college, it was my job to try to get my children through with minimal or no debt for them to deal with upon graduation. And this doesn’t even address such things as providing for my retirement or providing health insurance and auto insurance and the myriad other things that are part of modern life.

In other words, for me, it was all about the Benjamins in the sense that my editorial work could not be viewed through rose-colored glasses as if the only thing that mattered was artisanship.

Which brings me to the point of this essay: EditTools 9 and the project management macros that are part of the just-released EditTools 9 (www.wordsnSync.com).

In Business, Data Drive Success

What seems a lifetime ago, I wrote a series of essays for An American Editor about calculating pricing and why it is important not to look at rate surveys or ask colleagues for guidance (see, for example, the five-part essay “What to Charge,” beginning with Part I, and “The Quest for Rate Charts.” ) Yet, when I go to chat lists like Copyediting-l, it is not unusual to find colleagues asking “What should I charge?” or “What is the going rate?” Nor is it unusual to see a multitude of responses, not one of which is really informative or meaningful for the person who asked the question.

When I meet or speak with colleagues and these questions come up, I usually ask if they have read my essays (some yes, some no) and have ever actually gathered the data from their own experiences and used that data to calculate their personal required Effective Hourly Rate (rEHR) and their actual EHR, both for a project and over the course of many projects. Nearly universally, the answer to the latter questions (about data collection, rEHR, and EHR) is “no.” Why? Because “it is too much effort” or “the XYZ rate chart says to charge X amount” or “I can’t charge more than the going rate.”

But here are the problems: If you don’t collect the data,

  • you can’t determine what you are actually earning (as opposed to what you are charging; you can be charging $3 per page but actually earning $45 per hour, or you can be charging $5 per page but actually earning $9.25 per hour);
  • you can’t know what is the best way to charge to maximize your EHR for the kind of projects you do;
  • you can’t determine whether some types of work are more profitable for you than other types; and
  • you can’t easily determine what to bid/quote when asked for a bid/quote for a new project.

Ultimately, if you don’t know your rEHR, you don’t know if you are making money or losing money because you have nothing to compare your EHR against.

It is also important to remember that there are basically two ways to charge: by the hour or not by the hour (per word, per page, per project). Although many editors like to charge by the hour, that is the worst choice because whatever hourly rate you set, that is the most you can earn. In addition, it is not unusual to start a project and suddenly find that it is taking you less time — or more — to work than originally expected. If you charge by the hour and it takes less time than originally thought, you lose some of the revenue you were expecting to earn; if it takes more time, and assuming nothing has changed, such as the client making additional demands, you run up against the client’s budget. I have yet to meet a client with an unlimited budget and who doesn’t rebel against the idea that you quoted 100 hours of work but now say it will take 150 hours and expect the client to pay for the additional 50 hours.

However, to charge by something other than the hour requires past data so you can have some certainty, based on that past experience, that you can earn at least your rEHR and preferably a much-higher EHR. The way it works is this:

If you charge $3 per page for a 500-page project, you know you will be paid $1,500. If your rEHR is $30, you also know that you have to complete the job in no more than 50 hours. If you can complete the job in 40 hours, the client still pays $1,500 because the fee is not tied to the time spent but to the page count, and your EHR is $37.50. If you were charging by the hour and charged your rEHR of $30, you would be paid $1,200 — a $300 revenue loss.

All of this is based on knowing your data. During my years as a freelancer, I accumulated reams of data. The data were not always well-organized or easy to access until I got smarter about how track the information, but it was always valuable. Within months of first collecting data, I learned some valuable things about my business. I learned, among many other things, that for me (I emphasize that this applies solely to me and my experience):

  • medical textbooks earned a higher EHR than any other type of project;
  • charging by the page was better than charging hourly;
  • calculating a page by number of characters rather than words was better;
  • high-page-count projects that took months to complete were better than low-page-count projects (I rarely edited books of fewer than 3,000 manuscript pages and usually edited texts ranging between 5,000 and 7,500 manuscript pages; I often edited books that ran between 15,000 and 20,000+ manuscript pages);
  • working directly with an author was highly problematic and to be avoided;
  • limiting my services to copyediting was best (I phased out proofreading and other services);
  • working only with clients who would meet my payment schedule was best;
  • saying no, even to a regular, long-time client, was better for business than saying yes and not doing a topnotch job because I hated the work.

I also learned that investing in my business, such as spending many thousands of dollars to create and improve EditTools, paid dividends over the long term (the more-important term).

And I learned a lesson that many editors don’t want to accept: that sometimes you lose money on a project, but that is no reason not to try again. Too many editors have told me that when they have charged by a non-hourly method, they lost money, so they returned to hourly charging. How they know they lost money, I do not know, because they had no idea what their rEHR was, but their assumption was that if they earned less than they would have had they charged by the hour, they lost money. This is not only incorrect thinking, it is short-term thinking.

Such decisions have to be made based on data. Because collecting and analyzing accurate data is a stumbling block for many editors, EditTools 9 includes the Time Tracker project management macro, discussion of which will begin in Part 2 of this essay.

Richard (Rich) Adin is the founder of the An American Editor blog, author of The Business of Editing, owner of wordsnSync, and creator/owner of EditTools.

July 1, 2019

EditTools 9 with Time & Project Management Macros Is Now Available

By Richard Adin

It has taken nearly two years to create the newest release of EditTools, but EditTools 9 is now available (http://www.wordsnsync.com/download.php). New features in EditTools 9 include:

Time Tracker not only lets you keep track of the time you are spending on a project, but it also keeps data about your projects and calculates your Effective Hourly Rate (EHR) and Average Pages per Hour (APH) for the specific project, all projects worked on in the current year, and all projects over your career.

EditTools 9 requires a new license; your EditTools 8 registration number will not work with EditTools 9. There are two versions of EditTools 9: a full version for a first-time EditTools user and an upgrade version for registered users of EditTools 8. Unlike past upgrades, the upgrade is not free.

For details about how to upgrade from EditTools 8 to EditTools 9, see the information at “Download Upgrade to EditTools v9 from v8.”

Richard (Rich) Adin is the founder of the An American Editor blog, author of The Business of Editing, owner of wordsnsync, and creator/owner of EditTools.

May 15, 2019

On the Basics: Rethinking Saving Everything

By Ruth E. Thaler-Carter, AAE Owner

For more years than I can count, I’ve saved everything related to my work: multiple paper copies of published articles and of pre-computer edited and proofread projects; electronic or digital copies from the days of 5 1/4-inch disks to 3.5 diskettes to Syquest and Zip disks to CDs; finished files on both my iMac desktop computer and MacBook Air laptop; cloud storage …

My theory was that we never know when a client might want to redo or update a project, and I wanted to be the freelancer whom my clients could rely on to have old copies of projects at hand, just in case.

I recently changed my mind about this approach. In preparing to move halfway across the country last fall, even though to a larger space, I found myself wanting to scale back on this extensive, bulky, obsessive wealth of backups. I had to empty out file drawers for the movers, and clear stuff off shelves and out of cubbyholes; the more I could get rid of, the more I could save on the move. A light bulb went off: It seems unlikely that anyone would want anything more than a year old, but even if they do, I could keep a paper copy of everything, so I’d be able to scan anything that someone might want, and update old versions in new, current editions of software.

I went through those file cabinets in my home office and weeded out all but one paper copy each of published works. Then I went back and pitched all the loose copies after I remembered that I have a copy of everything in notebooks organized by year and going back to the 1970s, which creates the one paper copy that all that I really need — in these days of websites and online portfolios, there’s rarely a need to send someone a paper copy of a finished project. Although my file cabinet copies were organized by client or publication name and the notebooks are organized by year, I’m pretty sure I can remember at least roughly when I worked with which clients and thus can pull old copies as needed.

Next, I got rid of all paper copies of edited and proofed projects — anyone wanting to update or revise any of those nowadays will send me an electronic file to work on, and a current version is likely to be different from the one I worked on years ago. Even if it’s the still the same, my edits should already have been incorporated, and it would make more sense to reread the current version as if it’s new than to try to copy old edits from the past. The clients should have paper copies of anything not available electronically and also should be the one responsible for scanning paper copies to create new versions.

I wouldn’t use those paper edits in pitching to new clients anyhow, because no one would want their “before” versions made public, even on a limited basis. I don’t need to wonder about that or to have signed anything promising not to show the edited version of a document to anyone other than the client. If a prospective client wants proof of my editing or proofreading skills, I’d rather do a short sample than risk embarrassing a past client by showing what I did on their projects, even if I can hide their names. And my website has (wonderful) testimonials from clients attesting to the value of my skills and services, often more effective than samples.

After trashing all those paper copies, I bagged all the various types of disks and headed to the local recycling center to dispense with those as well. I still have electronic versions of everything that’s a year or so old on my computers and in cloud storage.

I even gave up my dad’s little classic Mac and my ancient Radius CPU, taking those to the recycling center as well (after wiping their hard drives).

It felt wonderfully liberating to clear out so much old material — and saved a bunch of effort in packing, which probably saved some money in the way of moving costs. I’m hoping a client won’t ask for a very old project after all, but I’m prepared to defend not keeping ancient files or copies, and can always photocopy or scan my paper versions from those yearly notebooks.

The next task for the aspiring organizer in me: going through all those old business and tax records to get rid of everything from receipt copies to entire years’ worth of documentation! That will open up an entire bookcase … I won’t know what to do with those empty shelves.

For a little farther down the road, it’s time to clear out old computer files in my e-mail program, Dropbox cloud storage account and project folders on both computers … at least I can never say I have nothing to do!

How have you changed your processes for saving projects and client files?

January 8, 2018

A New Year — and a New Era for An American Editor

By Ruth E. Thaler-Carter

Happy new year to all subscribers and contributors to An American Editor! As most of you know, blog founder Rich Adin has done me the great honor of handing off “editorship” of An American Editor. I’m both thrilled and intimidated by this responsibility — Rich created big shoes to fill, so to speak. The response to our announcements of this change from colleagues has been downright heart-warming, and I appreciate all of your generous comments in various forums. I hope to live up to his — and all of your — confidence in me.

While Rich and I have been editing professionally for almost the same amount of time, we work on very different kinds of projects, so my take on this profession will be unlike his. He routinely works on huge projects, usually in the medical field; even one of my biggest projects would probably make only a chapter in one of Rich’s usual manuscripts. He also functions as a company, with people who work for him, while I’m happily a sole proprietor, occasionally working with colleagues but mostly on my own. However, we share similar opinions about many aspects of editing today. We both care about quality and excellence, and are concerned about consolidation in publishing, outsourcing, and professionalism in the field. We notice many of the same things about how editors approach their work, how independent editors manage their businesses, and what clients expect or demand from editors at all levels.

Rich is also far more technologically and technically ept than I will ever be, but I’ll do my best to enhance my skills in that area on behalf of our subscribers.

Because I’m new to blogging on my own, I probably will not post quite as often as Rich has been doing, so please do not be concerned or disappointed if it takes awhile for me to work up to a three-posts/week schedule.

I’m glad to report that several of our columnists still plan to be involved with An American Editor and continue to share their perspectives on editing: Jack Lyon, of macro fame; Carolyn Haley, fiction editor (and author; a double threat!); and AElfwine Mischler, indexer (who also covers working in Arabic). We are open to new columns, either occasional or regular ones, from new contributors. If you would like to contribute essays to An American Editor, contact me with your ideas at Ruth.Thaler-Carter@anamericaneditor.com.

No one (including me) gets paid, so all posts you see here or would consider writing are labors of love — love of our profession, of quality, and — if this doesn’t seem too touchy-feely — of colleagues.

If there are topics you would like to see addressed here, please feel free to let me know at Ruth.Thaler-Carter@anamericaneditor.com.

Again, my thanks to all of you for your support of An American Editor to date, and from this point onward. Here’s wishing a productive and profitable new year for all.

Ruth E. Thaler-Carter is an award-winning freelance writer, editor, proofreader, desktop publisher, and speaker whose motto is “I can write about anything!”® She is also the owner of Communication Central, which hosts an annual conference for colleagues, and the new editor-in-chief of An American Editor.

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