Freelance As A Side Hustle?

THE IDEA

You can spend your spare time freelancing on sites like Upwork (previously oDesk and Elance), Freelancer, and Guru to earn a side hustle income.

PROS

  • You can work anywhere as long as you have a Wi-Fi connection. Online, remote work is the standard on these platforms so your location isn’t usually a restriction.
  • On Upwork alone, there’s around 130,000 jobs available every single day. There’s a lot of opportunity on these platforms and it only looks to be growing. In fact, the first iteration of Upwork (Elance) has been around since 1999.
  • Most platforms have a fixed-rate or hourly contract. And your payments are usually guaranteed through escrow and mediation services. Not getting paid for completed work is far less likely on these platforms.
  • Also, there’s room for long-term contracts and bonuses. While some jobs are one-time projects there are companies out there looking for a steady stream of work.
  • You can earn in a stronger currency (and better rate) than your local country. For example, Filipinos tend to be hired by Australian companies due to similar timezones. This gives Filipinos an option to earn in AUD or USD instead of PHP.

CONS

  • For free users of Upwork, currently, you only have 60 connects each month. This means you can only submit proposals to 30 jobs each month (each job requires 2 connects). So you’ll need to learn how to write compelling proposals in order to close deals and land a job.
  • Now, it’s also possible that a client doesn’t hire anybody. Some clients don’t make some projects a priority. Chances are, you could be applying to jobs that use up your limited connects. So you’ll also need to know how to identify which clients are worth working with.
  • Also, these sites take a fee for handling each transaction. While they are providing a great, secure service these fees may be considered steep. On Upwork, your first $500 earned with a client will have a fee of 20%. In this case, you’d only earn $400. Anything more than $500 will only have a 10% fee. So be sure to keep that in mind.
  • Freelancing can be a great option, however, you’re still trading your time for money. Or if you’re doing a fixed-rate job, you’re still doing the work. A scalable business isn’t really viable with freelancing. After all, it’s like having a second job, but with a little more freedom.
  • Upwork has a screening process for anyone that opens up a new freelancer account. Most people will get rejected. You’ll have to have skills that are in demand and low in supply in order to be accepted.

VS Digital Flipping

  • With Digital Flipping, I actually show you how to leverage Upwork but from the position similar to an agency. This means we won’t actually do the work. For example, if a client wants a website done for $500 we’ll outsource the work to an expert web developer for $100 and profit the difference. This allows more time freedom and a more scalable side hustle.
  • With Digital Flipping, I show you how to get your account approved even if you’ve been rejected. Plus, how to identify the most lucrative deals and clients (while also showing you what to avoid). And word-for-word what to write to close a deal.
  • Digital Flipping has the advantage here because we don’t actually do the work. This allows us to break into any job category because we’re not relying on our skills alone. So we’re able to apply to jobs in the most lucrative categories. Details are in my Digital Flipping course.