When you freelance, you have one of life's most important assets - time, at your disposal.
For this reason, you should always try to utilize every working moment you have towards maximizing your revenues [Note - I say, "working moment", which is the time you allocate towards "work", not your leisure or family time].
Now, sites like Upwork or Fiverr are just one of your avenues for making money online.
Instead of focusing solely on them for your earnings, you should look to affiliate marketing as a great source of income augment.
As you become good at it and manage to reap good rewards from your affiliate marketing efforts, you may soon find it to be sufficient enough to replace all the time, effort, and money you were investing into freelance sites like Upwork, especially given the way the latter has started bleeding freelancers dry for their token ("connects") money.
Among affiliate platforms, you should definitely consider Amazon. While it is by no means easy to make money quickly as an "Amazon Associate", it is not that hard either.
TradeTracker is another affiliate marketing platform I highly recommend to freelancers, especially for those dabbling in the travel niche since there are excellent travel segment clients such as Air France that you can promote on TradeTracker.
While there are people who seem to believe that when it comes to prices quoted on freelance sites, they should be independent of any statutes or limitations as posed by the sites themselves, I refuse to toe that line at all.
After all, most freelance sites work on a percentage commission fee basis, apart from membership fees which they take from freelancers. Clearly when they do so, it is in their own interest to ensure that prices remain as high as possible so that they in turn can earn higher commissions.
As an instance, Elance charges a flat 8.75% commission on every single payment which is made by clients to contractors, irrespective of the amount which is paid out. So if say I have a $100 project which involved writing 10 500-word articles at $10 a piece, Elance would earn $8.75 out of that $100 which the client pays me to eventually hand me $91.25. In the same situation if I were to work at $20 an article or $200 for the exact same project, Elance would earn $17.50 without doing anything extra or different.
Elance charges 8.75% commission on every dollar which is earned by freelancers on the site. Therefore, it is in their own interest to ensure that every project maximizes revenue for them, which can only happen when they themselves work on stipulating higher minimum payouts for each project.
So who's the loser working at low rates, besides the freelancer in question of course? Yes, the freelance site too!
And if you ask me, this whole argument that large volumes of work can easily make up for small payouts on each project simply does not cut any ice whatsoever with me. After all, time and effort required on all such small projects is often similar to the larger projects, sometimes even greater, since freelancers are willing to work at really low rates. In such a scenario, the freelance sites lose out as well since they have to put in greater administrative and operational effort (and of course costs) towards small returns per project.
Instead if they mandated higher prices - or worked on a model which at least encouraged higher prices very strongly, I am sure the freelance sites themselves would have so much to gain from maintaining such a setup.
These are thoughts which I shared in a video on my YouTube Channel on Freelancing - Vikram Luvs 2 Freelance, where I have emphatically stressed on the need for freelance sites themselves to have higher prices being quoted on them, which can ultimately very clearly work in their own favor:
Please feel free to share your thoughts on this matter in the comments section below - I always love to hear from my readers!
I know a lot of you who simply disdain your day jobs but at the same time, in the absence of viable alternatives, are compelled to grudgingly go through the grind.
At the same time, I also know of a lot of individuals who have successfully made the transition from being in a full time job scenario, to working freelance and still managing to make as much or more than what they made in their full time job.
So what is it about this subset of individuals that actually manage to quit their day jobs and successfully freelance full time, free of all the perils that typically came with their full time job?
Well, if I am to take my own example, I did not quit my day job till the time I saw some REAL potential, REAL earnings in working freelance. And this would undoubtedly be my foremost advise to you, in case you are an individual who is seeking out freelance opportunities that would allow you to mirror the lifestyle that your full time day job proffers you.
Remember that things are a lot rosier than they appear from the outset. People will give you these larger than life impressions of working from just about anywhere, especially those images of working by the poolside or seaside, but trust me, things are really not as easy as they might seem.
Don't let these rosy images FOOL you!
Essentially, freelancing is also a lot of hard work..it is really NOT an easy way of working as opposed to working full time in a day job but rather a DIFFERENT way of working, where you have no boss and no office politics to deal with, nor do you need to contend with rush hour traffic, or follow the same regimen day in and day out which would easily bore you to death (at least to me it did).
At the same time, you do need to manage workflow very well, which can be tricky, especially since there are periods of lull and boom, crests and troughs, all too often. What I imply is that while there might be times when you would be simply besieged with work, there would be other times when work would simply not come by at all.
Unpredictable Schedules
A major resultant of the unpredictable nature of freelance work is the fact that your own schedule can in turn get rather unpredictable. So while one day you could take it easy and relax the whole day without doing anything much, there could be another day wherein you may very well end up working the whole day!
For me personally, this kind of disorder works very well, but honestly, this may not work for you or at least for a lot of others whom I know. So if you are a person who likes way too much order and predictability in life, a full time job may suit you better.
Your Current Cash Flow & Debt Position
While determining suitability for quitting your day job and pursuing a full time freelance career, a major consideration is that of your current cash flow as well as your overall debt position, or perhaps hopefully, the lack of the latter. The better cash flow your day job offers, as well as the maximal debt repayment that it allows you to make, the more I would advise you to stick to your day job. On the contrary, if you are like me with a decent cash flow from freelancing, zero debt liability, then taking the plunge towards a full time freelance career would be that much more viable and feasible.
Running Expenses
Another important consideration before taking the plunge towards full time freelancing would be that of running expenses; if you have a lot of them, on an ongoing basis, I would recommend that you stick to your day job, while perhaps moonlighting as a freelancer. In this context, remember that my assertion is different from debt like mortgage or car loan. Rather, I mean expenses which are not mandatory per se but yet you end up incurring them, say as a result of the lifestyle that you lead or the kind of family that you have. An excellent instance would be when you have kids; there are regular expenses which need to be incurred, whether you like it or not, and yet, that is NOT what can be referred to as debt.
Passion for Traveling
If in case like me, you share a major, deeply ingrained passion for traveling, then I would certainly suggest that you run from your day job as fast as you can and take up full time freelancing immediately! Trust me, and take my word on this, a full time job will never really allow you to travel passionately, unless your job happens to be that of a travel show host! Essentially, there are limitations galore, even if your job happens to be one where you get to travel a lot. Often, you will be pushed and shoved to places you would not want to go at all in the first place!
With freelancing, you can choose where to go and when to go, so this is a power which most day jobs rarely offer, not to talk about jobs that offer ZERO travel options!
My own scenario is that I have seen a lot of the world around me, only AFTER I started freelancing full time. Prior to that, I had barely stepped out of my own country, though I had traveled extensively within it. Now, after having traveled abroad substantially, I feel much less like the 'frog in the well' which I clearly was in those days, when I had hardly stepped out and seen the world from so many different perspectives.
Summary
Summarizing my thoughts, I would essentially assert that you take a well thought out call with regard to quitting your day job and beginning to freelance full time. The following video I posted on my freelancing specific YouTube channel that answers the question - Should I Quit My Day Job And Freelance Full Time?will I am sure give you a very good perspective on the thoughts I have shared in this post:
Overall, remember that things often seem rosier from the other side - it is not for nothing that they say, the grass is always greener on the other side, yet I would emphatically state that the grass on the freelancing side sure is a LOT greener than on the full time job side....take my word for it!
When it comes to long term relationships with freelance clients, I am always of the opinion that one should continuously evaluate that relationship and not take it for granted.
And this evaluation needs to take place, not only from the point of view of ensuring the sustenance of that freelance relationship, it also needs to take into consideration the possibility of severing such relationships, as and when the need arises.
Yes, you read that correct.
After all, there are opportune times when many freelance clients simply take freelance contractors for granted and look to "milk them" as much as they can. Essentially, they have a notion that since they have managed to find a freelance contractor who is willing to work on their terms, at their (very low) pay scales, they might as well extract as much work out of that contractor as possible.
Any freelance clients reading this should realize that when it comes to freelance contractors, while quite a few maybe outright dumb, not all are so. After a while, they can easily see through the exploitation tactic of freelance clients in question and accordingly look to move on or severe all ties that client.
While in most cases, this parting of ways may take place on very amicable terms, I have myself had situations where while there was no unpleasantness as such, I however chose to simply stop responding to the client in question. I agree that this is certainly not the most desirable strategy to follow but somehow under the given circumstances, that seemed like the best - maybe the only way ahead in terms of giving up on that client.
No doubt, this is something I would strongly advise you against - yes, you can very well learn from my mistakes.
Moreover, under no circumstances am I saying that you completely give up on any long term relationships with freelance clients. I myself have had some of the most fruitful freelance associations, both monetary and otherwise, with clients whom I worked with long term.
So don't get me wrong; I am not saying that you do not work long term with freelance clients. I am simply saying that you must evaluate the relevance as well as the importance of long term relationships with freelance clients, at all times. Bear in mind that while most such long term freelance relationships may prove really very beneficial, there are instances where such relationships do not prove beneficial. On the contrary, they end up proving detrimental since they keep you away from working with other clients who may well have yielded higher and better quality monetary rewards for you.
Therefore in conclusion all I would say is that do not get mesmerized by the fact that you have freelance clients whom you have built long term relationships with. Instead, always look at the value which these clients are offering you. Ask yourself:
1. Are these clients paying me well, commensurate to my qualification, my experience, and indeed my expectations?
2. Are they friendly and courteous?
3. Do they pay promptly or do you have to chase them for payments which arrive with excruciating delay?
Responses to these questions will give you a very good idea in terms of the viability of working with freelance clients on a long term basis. Wherever you notice a questionable association, I would advise you to forgo that relationship for another one that may well prove far more conducive.
The more I read about Freelancer.com from various freelancers as well as project owners, greater the impression which I get with regard to the site being nothing but a sham and a scam.
Freelancer.com - Scam or Legit?
But is that really true? Have you ever worked on or worked through Freelancer.com, as a freelancer and project owner respectively?
If so, how has your experience been?
If I talk about myself, I have not worked on the site (as a freelancer or a contractor) for a very long time, in fact from the time it got rechristened as Freelancer.com, from its previous avatar of GetAFreelancer.com.
And if you ask me, the experience on GetAFreelancer.com, at least till the time I worked on it, was fairly good. Not once did I get a feeling that the whole site is nothing but a scam.
Over time though, I drifted onto Elance which is where I do bulk of my content writing projects today, for clients from around the world.
Pay on Elance is definitely many notches above what it used to be on GetAFreelancer.com to the extent that I can easily state with confidence, one CAN actually make a decent living, working full time on Elance, even as an individual freelancer. I specifically say individual because there are MANY businesses or small companies which are working aggressively on Elance and actually making as much or more money than what many other comparable businesses in the "real world" make.
As an instance, take a look at the No. 1 Elance contractor, across all project categories - SynapseIndia, a New Delhi, India based offshore custom development solutions provider which in the last 12 months alone has earned in excess of 2 Million Dollars and over its lifetime presence on Elance, has made more than 10 Million Dollars.
Clearly, these are very large sums of money in the context of a freelance platform and they clearly showcase the potential that a site like Elance holds for the entire freelance community.
Vis-a-vis that, I would very highly doubt if there is even a single freelance business on Freelancer.com that has earned a Million Dollars or above, forget about individual freelancers. On Elance I can assure you that there are many businesses which have, including some in the extremely competitive and not-so-well-paying 'Writing and Translation' category such as Words You Want.
It is against such a backdrop that the whole Freelancer.com saga comes across to me as such a BIG surprise.
After all, while on one hand, if you look up the Freelancer.com Wikipedia page, you will get an impression that all is hunky dory with this business and is clearly a frontrunner for being one of the biggest players in this space, especially after having acquired other businesses such as LimeExchange, Scriptlance, and vWorker, among others.
The Founder of Freelancer.com as it exists today, is an individual named Matt Barrie. Again, things seem more or alright with this person, at least as some really rudimentary Google searching reveals.
Matt Barrie, Freelancer.com Founder -
A Savvy Tech Entrepreneur OR A Scam Artist?
But ironically, the same Wikipedia page which lists out numerous awards won by Freelancer.com also lists out plentiful scams originating from the company...scroll down the page and you will see those links for yourself.
I have myself provided you with some links here, here, here and here.
So my question is, have you worked, or are still working on or through Freelancer.com, in any capacity? If so, how is your experience going?
Like I mentioned, after having begun the entire saga of bidding on online freelance sites, on GetAFreelancer.com, I graduated to Elance.com and there has really been no looking back on my part.
For me, the biggest impediment with regard to all other sites barring Elance.com is that they do not charge freelancers to place proposals (individually, for each proposal) unlike the way Elance does.
I feel that is a very good policy to follow since it restricts the sheer number of proposals which are placed on these job sites. Otherwise, on sites like oDesk and Freelancer.com in particular, I have noted jobs that pay really very poorly getting a phenomenal number of bids. As an instance, you might have a job on oDesk or Freelancer.com which seeks out 10, 500 word articles for $10 viz. a $ an article and yet there could well be as many as 50 freelancers bidding on that job!!
Really, all this seems just so crazy and funny to me!
I mean my raison d'etre of being on Elance or working freelance this way is ONLY & ONLY to make money, not to kill time!!
But the rates at which these jokers work, I really get a feeling that they have motives other than to make a living or even to make some decent money, up their sleeves!
So my assertion to freelancers as well as project owners working (or have worked) on Freelancer.com to please share your experiences.
Let's hear some real stories so that we are reassured about the authenticity (or otherwise) of both Freelancer.com as well as the scam allegations which are made so often against the site.
In case these allegations are true, Freelancer.com should ideally be reported to the ACCC or Australian Competition & Consumer Commission (since Freelancer.com is Sydney, Australia based) which can take necessary action and ideally close the site and its entire business altogether.
But if these allegations are baseless, then action should contrarily be taken against all those parties who have made those allegations in the first place, which I wouldn't be surprised, if they turn out to be competitors of the site.
As far as my own assertions with regard to very poor pay on the site, accompanied by numerous charges and fees at practically every stage (even in those GetAFreelancer.com days, though clearly not as much as the ones that complainants have cited for Freelancer.com), I stand by them and they will remain sacrosanct.
But whether Freelancer.com is a scam outright or not...let's just have that very clearly established please.
