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The Pros And Cons Of Making Money On Fiverr

Jul 27, 2017 04:37PM

Some days back, I made a post on Nairaland on how I earned 6 Million naira from Fiverr in 20 months.

It was received with lots of criticism mostly from those who have tried one online business or the other and failed at it. They accused me of making the entire process look so easy whereas it isn’t.

Well, I want to clear some misconceptions with this post.

Making legitimate money anywhere, whether online or offline is easy and at the same time hard.

It is easy if you learn the nitty-gritty of the business and you are willing to commit your time into making it work. It becomes hard when you don’t know the nooks and crannies of the business.

The same thing applies on Fiverr.

Fiverr is not a get-rich-quick scheme that you can jump in today and expect to earn one million naira within one month. It doesn’t work that way.

If you read the post, you will discover that the 6 million naira earned was within a 20month interval.

When you get started on Fiverr, the first one or two months tends to be slow because you are new and you don’t have enough reviews from previous clients. So only few clients will be willing to hire you.

But as your reviews keep increasing, your trust level will increase and so your sales increases too.

While some are lucky (like I was) to earn up to $500 (N170,000) or more on their first month, most people earn between $100 (N33,000) to $250 (N83,000).

Even if you earned $100 in your first month, it is still a good start since the work you will do will take you less than 24hours combined to do.
In this post, I will give you the pros and cons of working on Fiverr so that you can decide if it’s for you or not.

Let me start with the cons; the negatives

[center]CONS OF WORKING ON FIVERR[/center]

1. TO MAKE MORE MONEY, YOU WILL HAVE TO WORK MORE

If you earn $20 (N6,500) for a job that takes you an hour to execute, it means that for you to earn $500 in a month, you need to do 25 jobs which will take 25hours, even though the hours are spread within the days of the month and not a straight 24hours.

I call this a con because if you fall sick or decide to go on a personal holiday where you won’t have to work, then your income will seize till you resume.

Sometimes, I will just feel like taking a weekend off without doing any work, but if I remember that I have sales, I will have no option than to do it so that I won’t lose the sale.

So working on Fiverr will require you to work harder if you have to earn more.

2. SALES AT THE BEGINNING DOESN’T COME IN DROVES

Like I have already written before, when you start newly, sales don’t pour in heavily. You will need to be patient to build up your reputation before the sales starts pouring in.

You might get just few sales within the first month. What you will need to do is to ensure you deliver excellent job to the client so that the client will give you a great review. As your reviews increase, more clients will start trusting you and your sales will increase.

Most importantly, if you build enough reputation, you will start charging higher.

For instance, I charge between $50 and $100 for a job that takes me around 3hours to execute. There are even bigger sellers on Fiverr who will charge up to $200 for same job.

So you need to develop patience and persistence in the beginning to be able to build your reputation gradually.

3. TO EARN HEAVY AMOUNTS, YOU WILL NEED TO UPGRADE YOUR SKILLS

To be candid, some skills pay more than others.

The average amount people earn for a 500word article on Fiverr is between $5-$10, whereas a sales letter of 500words will earn you between $30-$50. Some charge even more.

The difference is that article writing is just a normal type of writing, whereas sales letter writing is a more sophisticated type of writing called copywriting.

The more specialized the skill you have, the higher you will be able to earn.

My advice to people is to start with the basic skills like article writing and data entry. As they start making some cash from it, they should invest their time and maybe resources into acquiring more lucrative skills like graphic design, video animation, copywriting, web design, programming, research writing, etc.

Anyway, these skills I mentioned aren’t the only lucrative ones. I just wrote down the ones that came to my head right now.

So if you want to start earning higher, you need to upgrade your skills.

Now that I have listed the cons, let’s get to the positive side.

[center]PROS OF WORKING ON FIVERR[/center]

1. YOU CAN EARN MORE MONEY THAN MOST WORKING CLAS PEOPLE

A recent survey by Stutern showed that more than 50% of Nigerian graduates earn N50,000 or less monthly and only about 1.9% of employed graduates earn above N150,000. Google this to confirm for yourself.

This is pathetic!

It is even more worrisome when you discover the number of hours they need to put in to earn such amount.

On the contrary, this figure is actually a starting point for a freelancer. Earning $200 (N75,000) monthly on Fiverr is considered a newbie

So as a freelancer on Fiverr, you can a huge amount of money to enable you take care of a family like I do.

2. YOU CAN INCREASE YOUR EARNINGS BY WORKING MORE

If you are an employee working with either the public or private sector, how long does it take for your employer to increase your salary?

Probably many years…..right?

In addition, you will have to work so hard to please your employer so that your salary will not be tampered with at the end of the month.

This is not so with a freelancer.

If a freelancer wants to increase his or her earnings in a month, he can decide to work harder to make it happen. At the end of the month, he gets more work and earns more money. The harder he works, the more money he earns.

Personally, I’m a lazy dude and so operates only two Fiverr account (****this is actually against Fiverr rules, but there’s a way to avoid getting caught……..Naija man must survive naa*****winks)

One of my super hardworking friends has 5 different accounts on Fiverr and is always busy. His revenue every month is never less than $2,000, even when the services he renders are just the basic ones like article writing, review writing, proofreading, etc.

I don’t envy him because he works harder than I do and so earns more. The most interesting part is that he doesn’t work up to the 8 hours that most employees offer their employers, yet he rakes in a minimum of $2,000 (N660,000) every month.

So as a freelancer, you have control of the amount of money you can earn. The more you work, the more you earn.

2. YOU GET TO WORK FROM HOME OR ANYWHERE YOU ARE

For example, I had a program at Port Harcourt last weekend, so I had to travel.

But it never stopped my work since all I had to do was carry my laptop with me. When I retire to my hotel room, I will simply open my laptop and execute the jobs I have and go to bed.

So as a freelancer, you are not limited by location. You can work from anywhere and anytime…..even from the beach like the oyibos like doing.

3. YOU GET MORE EXPOSURE AND INSIGHTS ON OTHER BUSINESSES YOU CAN DO

My working with so many clients all over the world as a copywriter, has given me insights to different businesses that people do around the world.
It has led me into thinking of creating my own information marketing, starting my own blog, starting affiliate marketing and even other offline businesses.

Even though I haven’t started executing some of these ideas, I’m working heavily on them and will soon launch out and hopefully make more money.

Now, I’m not trying to discourage those who are into one form of employment or the other.

No way!

My objective with this post is for the unemployed or underemployed youths in Nigeria to think towards different areas of making money rather than waiting for paid employment.

Presently, there’s no paid employment that will thrill me or make me consider taking it up. There is so much money to be made on the internet only if you can be diligent enough to master it and stick to it.

To me, Fiverr is just a scratch of the surface.

So is working on Fiverr worth it?

The answer is a BIG YES.

When I compare the pros and cons of working on Fiverr, the advantages far outweigh the disadvantages.

My mission in Fiverr is to generate revenue which I will be investing in other businesses both online and offline. It’s already working out for me and before too long, Fiverr will become my secondary…..no…..tertiary source of income…….****winks.

You too can also start on Fiverr if you have a laptop and internet connection. Besides, you wont need initial investment into getting a website, traffic building, etc unlike other internet business.

So it’s a good entry point.

Go ahead and try it today and kiss goodbye to unemployment.

If you would want to learn how to make a living from Fiverr, click here

Source: http://www.nairaland.com/3948321/pros-cons-making-money-fiverr

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