Most Difficult Thing On FIVERR
You’re probably excited about Fiverr at this point. In fact, you might be itching to place an ad and see what you can come up with. You might want to take a break and cool your heels for a while. Most Difficult Thing On FIVERR!
What makes you think that? So, here’s the unfortunate reality of Fiverr. On Fiverr, the majority of the money is earned in one of two ways. In what way is that possible? You are in the business of selling your time.
“What’s the big deal about this?” you may wonder. You should have just gotten a job if that’s what you really wanted to do. No, seriously. You should have simply gone to monster.com or another online job board and looked for a job.
A regular job has the advantage of guaranteeing you a paycheck every 14 days. With freelancing, you don’t have that assurance. Besides, most American jobs include medical and dental insurance, as well as a 401(k) retirement plan. With freelancing, you don’t have that problem. Take this into consideration.
Because if you’re just going to sell your time for money, getting a regular job will maximize your return on investment. It simply will not suffice unless your hourly rate is $1,000 or higher. If your goal is to make money by selling your time, there’s no comparison. Most Difficult Thing On FIVERR!
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What’s the Big Deal About Making Money by Selling Your Time?
This method of earning money has several drawbacks. To begin with, you only have a limited amount of time to sell. There are only 24 hours in a day, according to my calculations. If you’re like the majority of people, you’ll need at least six of those hours to sleep, if not more.
There’s also the fact that you’re the only one. It would be fantastic if you had an army of you out there, so you could farm yourself out to work on a variety of freelance projects. After that, you’ll be paid several times over. But there’s only one of you, and there are only 24 hours in a day.
Freelancing in the traditional sense is also not very scalable. After all of your available time slots and production, slots have been filled, you must wait until you have some work to take on new clients.
What do you think would happen if you told them to hold their horses? According to my personal experience, at least half of them will seek employment elsewhere. They don’t have to look far, and they don’t have to search for long, thanks to the robustness of the Fiverr platform.
It’s all too easy to fall into a pigeonhole.
Another issue with Fiverr freelancing is that it’s all too easy to feel like you’re only allowed to offer one type of service in one type of situation. It quickly becomes tiresome. You appear to be completely excluded from all of Fiverr’s fantastic features. It’s not long before you realize it’s all about hard work.
Now, you might enjoy what you’re doing, but if you get pigeonholed and only provide one type of service, say you’re a graphics artist who designs banners for people, your skillset will stagnate if that’s all you do. When you’re doing banners all day, every day, the amount of progress you can make in terms of taking your skills to the next level is actually quite limited.
Furthermore, there is always the possibility that someone will undercut your pricing. You must realize that the vast majority of Fiverr users either do not make any money at all or make very little money.
This could be due to a large variety of different factors. Some people simply perform poorly, and as a result, they receive negative feedback. Others overcharge for their services.
It’s important to keep in mind that the market has expectations based on the services you offer. If the going rate for banner design is $5, and I come along and offer my service for $25, it’s unlikely that I’ll get many orders. I might get orders now and then, but you can bet they won’t be repeat orders.
Customers must believe they are getting good value for their money before they return. You can provide that value based on either quality or price, but the problem is that Fiverr attracts people who are primarily interested in price.
I understand how difficult it is. We can cry about it, and we can certainly whine about it, but none of that will change the situation. That’s simply how things are.
Making Money Off Fiverr: The Uncomfortable Truth
I’m not trying to make you downhearted. I don’t want to discourage you from taking advantage of this fantastic platform. It’s absolutely incredible. It has the potential to bring you financial gain. However, you must make proper use of it.
If you use it incorrectly, it can quickly devolve into a race to the bottom. That’s right, when you’re looking at your pricing, make sure it’s as low as possible because if there’s any room for a decent profit margin, someone will come in and offer a lower price.
This is particularly true in the case of virtual assistants, data entry, and other similar services. It’s a brutal experience. We’re talking about people who are working for ever-increasingly low wages.
Low-cost service providers used to be found in Southeast Asia as well as South Asia, in countries such as Bangladesh, Sri Lanka, Pakistan, India, the Philippines, and Indonesia. The focus has shifted to Africa at this time. Think again if you think people from India charge low rates.
That’s why there’s such fierce competition and a race to the bottom when it comes to pricing. It’s not a pleasant sight. If you’re going to be trading your time for money, you’ll have to accept the possibility that you’ll have to charge less and less to stay competitive.
Playing up the volume is one way to compensate for this unfortunate reality. You can slash your prices to the bone to increase volume.
This sounds fantastic, but you’re the only one who can do it. If you’re like the majority of people, you’d like to spend some time with your loved ones. You would most likely want to read and devote time to yourself to improve as a person. Unfortunately, you’ll have to bid farewell to all of that time because volume necessitates a significant amount of time consumption.
Final Thoughts
Now that you have a better understanding of Fiverr’s promises and the dangers of its reality, I have some exciting news for you. You don’t have to participate in the Fiverr freelancing game to lose money. There are six more effective ways to make money on Fiverr.
Starting in the next chapter, you’ll learn everything you need to know about how to play the Fiverr game properly. I’m going to show you how to win on Fiverr’s freelancing platform.
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