In January this year I set myself a goal to make atleast $20.00 per week outside my full-time job. This was an experiment to test what I have been reading and listening to, on podcasts, all the the talk about making money online. Just because I like to define the parameters clearly before committing to a project – there were a few rules. There must be no inventory and no setup costs. The idea was to earn this without any upfront cost, the money needs to be made doing something I already knew.
Enter www.fiverr.com I had an existing Fiverr account which I had used as a buyer. I decided to brainstorm some ideas for gigs (services I could offer), updated the profile and got my first order on 20/01/2015.
Recently I was transferring funds from the Fiverr account to Paypal and noticed that I had hit my goal on 05/09/15. The analyst in me wanted to review; was the experiment worth it? what was the average order value? what did I learn? will I continue?
What I sell on Fiverr?
I started with selling virtual assistant services but quickly realised that I didn’t enjoy jobs like, data entry, Excel sheet tidy and with a full time job my response time was around 5-6 hours, I was not converting much of it. Then I decided to create a new gig and started offering Powerpoint presentations, now I am not a designer but I am quite confident in creating and presenting ideas. Something that seemed obvious at the time, with the increase in no. of slides in a presentation, I could start charging more, increasing average order value. This didn’t go well either and I ended up cancelling the orders I received for this gig. As I felt it was far too much work and generally very little direction or clear specification from buyer.
Even though I have kept these gigs active my most popular gig now is creating systems, which I have over 5 years of experience in. I felt like buyer were getting a bargain as I was creating systems for small business from real estate agencies to private coaches, from scratch. Systems to hold employee information, generate invoices, track communication history, send emails, you get the idea. It felt good to say no to a project that I didn’t find interesting, I said no to all student projects as somewhere in doing this I added one more rule, to increase my skill set and student projects were not going to make the cut.
Statement on 15/11/15
While I worked mostly on weekends on these gigs, I don’t know how much time I spent per project. If I continue to do this I need to be able to track and record my time to make sure I am being paid a decent wage!
What did I learn selling on Fiverr?
- Consider Fiverr fees before quoting for a project
- Track your time
- Agree on no. of revisions you can offer – because of the nature of these projects, it was apparent that buyer would need some revisions and quite possibly need something doing which wasn’t previously agreed. I learnt to agree on scope and limit the no. of revisions otherwise I could be working on a project for weeks.
I will be continuing to sell on Fiverr and at the same time will be exploring some other remote project work platforms. To be honest, I don’t even know what these are called and if these exist at all! If you know of any please let me know in the comments.