Freelancing – Most Lucrative of Startup Business Ideas?

Posted by admin on May 29, 2011 in Freelancing |

Freelancing as a Big Part of Your Home Business

Freelancing requires zero expenditure and that’s why it’s perhaps the favorite of all Startup Business Ideas out there. All you need to start your own freelancing business is a computer, and an internet connection. Optional extras include the desire to succeed, and a skill set that is in demand. Every website must be designed, and every website requires content – if you’re proficient in either of these areas, you can be sure your skills are worth some cold hard cash to a lot of people out there.

Approach it as a business
There are two ways to approach freelancing – a quick way to make some easy money, or a way to make sustainable income with a little work. Those who are looking to make some easy money may find it hard to see any kind of return from freelancing. For those who approach freelancing with a long term outlook, it’s a great startup business idea.

There’s nothing stopping you from acting as a broker when it comes to freelancing. If you find yourself getting more work than you can handle, why not outsource it to someone else? It is frowned upon, but providing the work is to the same standard as what you’d produce, there’s little harm in trying it. This way you can output twice as much work – with little extra effort exerted. You can even make some money on the prices you get paid for the work. If you’re being paid $10 per design or article, outsource it for $5 – that’s a 50% mark up for relatively little work.

A Good Reputation is Vital
Maintaining a good reputation is essential to your survival as a freelancer. If you have bad feedback it’s easy to see why you wouldn’t be very attractive to clients, so make sure you spend time and effort making your work the best it can be. Make sure you don’t just outsource your work then send it over in a bad shape – if it’s not quality, don’t send it.

When you’ve found a reliable person to outsource work to, keep them in mind for future projects. Freelancers love repeat work – as do clients, it’s a symbiotic relationship. If you provide your clients with high quality work, they’ll come back time and again. If you provide the people you outsource your work to with frank feedback, praise where appropriate and punctual payments – they’ll want to work for you time and again.

Keeping everyone happy all of the time isn’t easy – but it’s worth striving for. If you strike gold and find a great person to outsource work to, you can easily make upwards of $100 a week for very little work. Find two great people to outsource that work to, and you can easily double that figure. The benefits of outsourcing work to reliable providers speaks for itself.

Don’t approach freelancing with contempt or complacency, approach it with the respect you’d approach all startup business ideas. Finding work may be slow at first – but if you gradually ease yourself into a role as a “broker” between your clients and the people you outsource work to, you can easily earn money for very little work on your part.

A couple of places to sign up:

  • Elance
  • The On Demand Global Workforce – oDesk – Employer focussed
  • The On Demand Global Workforce – oDesk – Contractor focussed

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