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- Send it as an initial contact to all your key prospects.
- If you already have clients, a copy of your book would be an excellent thank-you gift for their loyalty.
- Use the PDF version of your book to attached to emails and proposals.
- Ask your clients to give a copy to someone that may be in need of your services at some point.
- Use it as a free lead magnet on your site in exchange for someone’s email address.
- Use it to get on podcast shows to showcase your expertise and offer the book for free to listeners.
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- What you enjoy doing
- What you’re good at
- What people will pay for
- What makes you feel truly happy? This includes your free time too, of course. Do you like playing a sport? Spending time with others? Being outdoors? Solving problems? Organizing and project management? Research? What excites you and makes the time fly by when you’re doing it? For me, it’s writing.
- What past project have you over-delivered on at work? Did you seek out challenging research projects? Maybe you can do online research. Were you always the first to sign up to organize the Christmas party? Maybe you can be an event planner (yes, there’s a huge need for those online!). Did you always design the poster for the Christmas party? Then maybe graphic design. You get the point.
- If we lived in a society without money (Karl Marx would be thrilled!), and you had to pick a job for yourself (couch-sitter or Netflix quality control doesn’t count!), what would you choose?
- Step 1 – A customer scrolls through the UberEATS app for the restaurant of his or her choice and makes a food selection.
- Step 2 – The app shows the customer the order cost, with the price of the food, tax, and booking fee, as well as the UberEATS driver pay.
- Step 3 – The order is transferred to the restaurant and they start to prepare the food.
- Step 4 – When the food’s nearly ready, the app notifies a local UberEATS delivery driver, who picks it up.
- Step 5 – The customer gives the address to the UberEATS driver for either curbside or door delivery.
- Step 6 – The Uber delivery driver makes the drive to the appropriate destination, with GPS guidance if needed.
- Step 7 – Once the food’s dropped off, the Uber delivery driver is credited instantly through the app.
- Step 8 – We eat!
- First, it’s all about customer service. Treat your customers well, and chances are they’ll be more than generous with the tips. For example, smile when you make the delivery, make small talk if you can – ask them about their days or talk about the weather. You can even compliment them on something like their gardens or their outfits.
- Second, ensure you deliver the right orders to the right customers. This is especially important if you are making multiple deliveries.
- Go above and beyond by picking up as many extra condiments from the restaurant as they allow (ketchup packets, soy sauce packets, salt and pepper packets, Parmesan packets, plastic cutlery, napkins, taco sauces, breath mints, or anything similar that you can take for free – GET IT.)
- Handle all orders carefully. Carry them in insulation bags and secure them in an upright position. The last thing you want is a spilled order.
- Maintain an excellent rating on the platform in all aspects. From a high order acceptance rate to a low cancellation late. This will enable you to qualify for more incentives, bonuses, and promos.
- Don’t forget parking! This one can be a nightmare. Beware of any parking meters, don’t double park and carry some change in case you need to pay for parking space. The last thing you want is to be dinged with a parking ticket on your errand.
- Keep your phone charged and with you at all times. Better yet, bring along a portable charger to ensure you are on especially when making multiple trips.
- Although Uber is changing the policy on the tipping on UberEATS drivers, it might make sense to bring some change in case the customer wants to tip you in cash. Veteran drivers recommend at least 20 bucks in change.
- Finally, take advantage of UberEATS driver incentives! Promotions allow drivers to earn extra cash, eg, by completing multiple orders in a specified time frame or making deliveries during particular high demand times. Examples include the Boost Guarantee, Hourly Guarantees, etc.
- Pass a background check;
- Dress professionally;
- Work with contacts in a friendly manner; and,
- Own a smart phone.
One of the biggest misconceptions among people who reach out to me is that there are no sharing economy income options in rural areas. Certainly the options are fewer, but there many remote work options available for those with an internet connection or simply a smartphone in some cases.
Today, we are going to talk about what remote jobs you can do from home. These are by far the best jobs for rural workers and those who don’t live in a city setting.
So let’s get started with our top four remote work options you can consider starting now.
Remote Work Option #1: Freelancing on Upwork
Do you have experience with research? Data entry? Administrative skills? Accounting? Writing? The list goes on and on. Check out Upwork’s job category directory here.
Margaret, a Casual Capitalist community member, retired three years ago from a 35-year career as an Administrative Assistant. Margaret wanted to retire, but also wanted a flexible work option to keep her busy and to supplement her retirement income.
She recently got started on Upwork by becoming a virtual assistant. Before she knew it, Margaret had two full-time clients which took up three hours a day. This provided her with an extra $1,200 a month. Not bad at all!
Think you could do virtual assistant tasks? Maybe there is something else that would work for you. Check out Upwork to see the major categories of freelancing opportunities. Once you find one that fits your skills, sign up and then you can start bidding on jobs.
For more on Upwork, check out this resource.
While Upwork is by far the most popular freelance platform, it’s not the only option for those looking to make some extra money in rural areas. The following are some other platforms to get you started on your freelancing career:
To succeed in freelancing, it’s best to get good at something. For example you can offer services in something that you like to do, or something you are passionate about. Alternatively, aim to use your existing skills and experiences but adapt them to the digital sphere. The more skilled you are at a specific skill the higher the rates you are likely to command. This should be a good boost to your income.
Remote Work Option #2: Tool & Equipment Sharing
Chances are, living a rural lifestyle, you may have an abundance of specialized tools. If this is the case, there are a number of websites that will allow you to rent out these tools for a fee.
Do you have heavy farm equipment or specialized landscaping tools? Yard Club is also a popular sharing economy platform that will facilitate transactions between farm equipment owners, and renters.
For the Australian readers, check out Openshed, which is a similar website to Yard Club.
Remote Work Option #3: Animal Sitting
Although we’ve touched on this in detail in earlier articles, a great option for rural folks is pet sitting.
According to the American Pet Products Association (APPA), Americans own 83 million dogs and 95 million cats. In 2014 alone, pet owners spent three billion dollars on boarding. This is a significant market that you can tap into!
Instead of boarding their animals, people are electing to leave their pets in the homes of others. This is where you come in. As someone who lives in a rural area, it is likely that you have a lot of space to accommodate dogs, particularly outdoors.
On average, pet sitters on sites like DogVacay and Rover, earn $30 a day per dog. Does this sound like an interesting idea? Check out the above websites for more details on this rural employment option.
Remote Work Option #4: Teaching and Tutoring
The online tutoring industry was worth seven billion in 2014. By the end of 2015, this industry was worth over $13 billion.
If you have a teachable niche, then online tutoring in the sharing economy can be very profitable. The average wage varies greatly, from $5 an hour to $50 an hour, depending on the topic and your background. Do you have a teachable skill?
This could be anything, from traditional topics such as English, math, science, to non-traditional topics such as farming, gardening, painting, woodworking, cooking, and much more.
And you can teach from the comfort of your own home via Skype! Check out the more popular tutoring sites below to see the types of teaching subjects they cover.
Do any of these teaching categories sound familiar? Do they? Then sign up!
For all my handy Casual Capitalists in the UK, check out DAD, an on-demand DIY advice network where you can sell your advice via video chat. For instance, someone needs help installing a dishwasher, they get matched with someone on DAD who can walk them through the process via a video chat. Pretty cool!
Click here for a more in-depth look at the tutoring option.
Remote Work Option #5: Arts & Crafts
If you are good at making stuff, then you can make some extra money with your unique items and crafts. Beautiful handmade and unique crafts are all the rage nowadays and this is something you can do even in rural areas. For example, you can make jewelery, clothings and accessories, knitted bags, furniture among other items. You can sell your creations through platforms like Etsy, Artisna, Artfire among others.
If you need a bit of inspiration, check out how this lady makes over $20K selling crafts online.
Check out these guide and other platforms on how to get started selling crafts online:
How to Make a Living Selling Your Crafts – Complete Guide
Remote Work Option #6: Photography
Despite the proliferation of cheap cameras and smartphones, a need will always exist to capture those special moments in a unique way. Family events and gatherings such as weddings, birthday parties, engagements, graduations etc are special occasions whose memories need to be captured in the best light.
If you have the artistic skills and the right equipment, this is a relatively easy remote job to get started with. Do a great job for each client(s) and through word of mouth you can expand your business in your rural community. Find out how to get started with professional photography here.
Additionally, you can offer some of your shots through online platforms that pay a certain amount when your photos are used. Check out some of the top sites that pay for images and get a feel for the quality required for top shots.
The internet and the sharing economy has opened even rural areas to opportunities that could only be enjoyed by urbanites. And while the opportunities in rural areas might not be as many as those in urban areas, you can still make a decent side income with a remote job in a rural area.
Sometimes it might require a bit of creativity to make a decent income in a rural area. Other times you need to repackage your skills and expertise for the digital space. What is evident though is this, where there is an internet connection, you can do some amazing things with the resources that you already have around you.
There you have it folks, a number of remote work options that could be your next killer side income gig. Take action now and commit to testing out at least one of these options in the next few days. What do you have to lose?
Good luck and let me know how it goes!
Editor’s note: This post was originally published in Feb 2016 and has been revamped and updated for accuracy and comprehensiveness.
Freelancing Tools: Finding work
Freelancing tools: Staying organized
Freelancing tools: Stay productive
Communication + project management = gold
Finances inside. Handle with care
Freelancing tools: Your virtual office
Phone calls – A necessary freelancing tool
Postage – Old-school is back!
Branding – Networking tools
Manage your website and blog like a pro
Advanced Freelancing Tip: Brand yourself!
Freelancing tools: Final thoughts
Show your clients you’re better than the competition
Start your freelance business by publishing an eBook
How to get started
These days, everyone appreciates a good book…Right?
One book. Dozens of ways to use it.
This number is only expected to increase, with another study staying it will rise to 50% by 2020.
This is a big deal! In all, these freelancers earned an astounding $1 trillion in 2016. Yes, with a T.
More professionals choose to work independently every day, and believe me, if there’s one thing they all have in common, it’s how they wished they'd started earlier. As you will shortly find out, freelance jobs are everywhere, you just need to find them.
Now, you may think this is easy to say for a designer, a web developer, or a writer. They must be getting loads of gigs, right? I mean, isn’t freelancing based mainly on these types of jobs?
Well, not exactly. In fact, not at all. The freelance jobs are much more versatile than you may think. The freelance economy is becoming more professionalized with lawyers, accountants, insurance professionals, drone operators, and many more professionals being able to find work on digital platforms.
Don’t worry. They’re not in this industry because they couldn’t get a regular job. They’re here because being independent allows them to spread their wings in a way that the traditional job market never could.
In fact, four out of five freelancers state that freelance jobs are better than their traditional employment.
But let’s get back to you. If you still have doubts about whether you can make it in freelancing or not, I’m here to tell you that your abilities and passions can be marketed too. No matter what your skills are.
Except maybe if your expertise is in competitive dog grooming...
Look around. Someone needs your services
For freelancing jobs, you must know thyself
What are your passions
Freelancing is all about marketable skills
It’s easy to understand why. Globally, the market for food delivery is about $110 billion. The vast majority of this, 90 percent to exact, is your traditional forms of delivery.
However, there is a growing consumer interest to order in non-traditional ways; mainly through mobile phones. This is why we’ve seen five startups in the food delivery space already valued at over $1 billion, including Uber’s version.
UberEATS is an on-demand food delivery service that has been in business since 2014. This new platform allows people to order food from their favorite local restaurants and is available in most major cities. The good news for you is that you can become an UberEATS driver in a few simple steps. And you don’t even need a car!
As an UberEATS delivery driver, you have a golden opportunity to fill a local need while fattening your bank account in your spare time. In many cases, people prefer to deliver with UberEATS over Uber driving, as there’s less interaction with riders.
Becoming an Uber delivery driver certainly has its perks; work when you want, get to know the best local restaurants and no annoying riders!
Let’s look closer at UberEATS. What does it take to become an UberEATS delivery driver? How much to UberEATS drivers get paid? What are the requirements?
We will deliver all this and more.
But wait, you have some homework. If you’re thinking about becoming an UberEATS driver, the best advice you could ever get is to do your homework first. So download the UberEATS app, pick out your favorite restaurant, and order some grub!
This will give you a good idea about the process from the customer’s standpoint, so you can kickass when it comes time to become an UberEATS delivery driver yourself. OK, are you full of pad thai? Let’s get started!
Here’s How UberEATS Works
UberEATS Driver Requirements
So this all sounds hunky dory, but how can you become an UberEATS driver?
As you will see, the UberEATS driver requirements are not as strict as those for Uber drivers.
But first, check with UberEATS because requirements and restrictions vary greatly depending on the city and regulations. The best thing you can do is head to UberEATS now, go through the signup process for your city, and they will tell you exactly what you need. You aren’t committed in any way to becoming an UberEATS delivery driver, but you will at least know if you qualify.
Generally speaking, to become an UberEATS driver you must be at least 19 years old (21 in Canada). UberEATS driver requirements include a driver’s license, your vehicle registration card, and your vehicle insurance card.
According to Uber, an UberEATS driver should have at least a year of driving experience, and you need to be able to lift at least 30 pounds. You know, for those heavy turkey dinner deliveries!
If your city allows UberEATS drivers who only delivers food (rather than having to drive UberX too – some cities require this!), your car can be much older than the limit for Uber drivers who carry customers. Anything 1994 or newer is typically acceptable.
As noted before, a bike or scooter can be used instead of a car by an Uber driver carrying only food. You’ll have to present your social security number for identification if you don’t have a driver’s license in this case.
How to Become an UberEATS Driver
The UberEATS driver requirements are not as strict if they only carry food rather than people. The car can be older; scooters and bikes are also allowed.
Collect all the papers you will need to register as an UberEATS delivery driver: your driver’s license or social security number, your vehicle registration, and your insurance card. If you need a work permit to be eligible to work, pull that out too.
Go to Uber’s sign-up page to fill out the application, letting Uber know you meet all the UberEATS driver requirements. Once this is approved, you can start delivering food and earning serious supplemental income. But how much will an UberEATS driver get paid?
UberEATS Driver Pay
The UberEATS driver pay is completed entirely through the app. An UberEATS delivery driver doesn’t handle any cash payment. The amount an UberEATS delivery driver gets paid for the delivery includes fees for pickup, dropoff, and a mileage pickup fee.
Uber’s fee is usually 25% of the total, and the UberEATS driver gets the rest. The driver app also has a built-in tipping feature, so be sure to be courteous and communicative!
According to Harry Campbell, the awesome Uber guru, “UberEATS drivers can expect to make around $8 – $12/hour after factoring in vehicle expenses. Pay can vary quite a bit from day to day and hour to hour, and it’s crucial to work lunch and dinner rushes if you want to earn on the higher end of the pay scale.”
If you have more than one drop off address for an order, UberEATS driver pay includes a drop-off fee for each address that you deliver to.
To give you a better idea of what it’s like to be an UberEATS driver, check out this awesome video from the Rideshare Genius who breaks down the UberEATS supplemental income opportunity.
For his first delivery, this UberEATS driver earned $5.74 for 12 minutes of work – not too shabby!
UberEATS Driver App
The heart of your delivery workplace is the UberEATS driver app. Once you register, are accepted, and given an account number, you will install the UberEATS driver app on your phone.
To begin your work as an UberEATS driver for the day, you tap the UberEATS driver app and select whether you are willing to carry passengers, food, or both. A job pops up with the address of the restaurant, the name of the customer, and the order items. You, the Uber delivery driver, are given a time to pick the order up. The GPS on the UberEATS driver app guides you to the restaurant.
If the food is ready, you can show the order on the UberEATS driver app to the cashier. He or she gives you the food, and you’re off to the customer. Should the food not be ready on time, you then have the option to wait or cancel. The decision will usually depend on the wait time and how busy you are.
A thoughtful UberEATS driver will text the customer and give them an estimated time of arrival. The app will note whether you will be met at the curb or will need to park and go to the client’s door. Once there you have the customer you give the order to confirm delivery on the app. As you drive away, the UberEATS driver app registers the amount of UberEATS driver pay for the delivery. And then, you’re on your way to pick up another delivery as an Uber delivery driver!
Top Tips For UberEATS Drivers
Thought you were done? We’re almost there, but we have some tips for new UberEATS drivers that will save you time, earn you more, and maybe a little head banging.
And don’t forget to subtly hint to them that you thought they might need the extras.
Still want more tips to enhance your UberEATS driver experience, check out these pro tips from the UberEATS site.
UberEATS Delivering Summary
UberEATS is a fantastic way to make some extra money – not the most profitable per hour, but you’ll still end up with a decent sum from your side hustle. Half of something good is better than nothing if you ask me.
In any case, $10 an hour for picking and dropping stuff still beats nothing. Give it a shot and let us know about your experiences as an UberEATS driver in the comments section below.
In today’s article, we will be discussing why so many people are choosing to freelance as a flexible career. This is part of a larger series of articles on how to become an effective and profitable freelancer. Our ultimate goal is to help you increase your financial flexibility in life and help new freelancers attract more clients. If you’d like to digest all of these articles at once, stay tuned for our comprehensive eBook that contains all the material in one easily accessible format. Happy freelancing everyone!
Freelancing: Stats Never Lie
It’s Easy to Fall in Love With Being a Freelancer
Freedom. It’s Always Worth it!
Potential Downsides of Freelancing
Easily Motivated, or Not?
Don’t Quit Your Job Just Yet!
Here at the Casual Capitalist we’re always on the lookout for income opportunities in the sharing economy. Today we are going to bring to you four special opportunities to make money looking at stuff, starting with WeGoLook.
Although the platforms below fall into the tasking category of the sharing economy, they are unique. All three allow for some form of specialized tasking. This includes asset inspections in the case of WeGoLook, and retail and market research for Field Agent and GigWalk. Why are platforms like WeGoLook becoming so popular?
In 2013, Jack retired from being a food scientist. Like many others in retirement, Jack found that he just couldn’t stay at home. Jack needed a flexible employment option to keep him occupied and engaged. After some research, Jack found WeGoLook.
Since joining, Jack has been able to fill his empty schedule with WeGoLook jobs, or ‘Looks’. This allows Jack to get out of his house and interact with people on a regular basis. Jack is also cushioning his retirement with side income. As an added bonus, Jack has the opportunity to refine his photography skills, something else Jack enjoys in retirement.
Let’s take a closer look at these platforms.
Make Money Looking At Stuff: WeGoLook
WeGoLook is a sharing economy platform that can dispatch from its over 30,000 ‘Lookers’ to verify claims made by sellers about assets for sale. Lookers act as your eyes on the ground to see if a purchase you want to make is as advertised. Think of it as an on-demand inspection, or custom tasking.
Maybe you want to buy a vacation property or used vehicle a few hundred miles away. You’re busy and don’t have the time to travel to this location and inspect the sale. You could hire a Looker from WeGoLook who would not only travel to the point of sale, but fill out a customized report. How’s that for service?
For Lookers, once a report is requested in your area you could be dispatched to fulfill that job. You will then reach out to the contact or seller to arrange the Look. Meanwhile, buyers can track the progress of their Look via the WeGoLook dashboard.
Lookers take pictures, videos, collect specified data, and respond to any questions about the object or property. Once complete, the Looker files their report which is verified by WeGoLook and then sent to the buyer.
Lookers are dispatched to verify anything about an object of interest to WeGoLook customers. These are usually vehicles and property, but can include boats, heavy equipment, document retrieval, notary services, and more.
Want to become a Looker? According to WeGoLook, their community is comprised of “school teachers, retired veterans, pastors, mechanics and other persons utilizing the opportunities within the crowd-sharing economy.”
To become a Looker, there are certain requirements you must fulfill:
As a nod to its unique business model, WeGoLook won the 2015 Innovator of the Year by The Journal Record. This award recognizes Oklahoma companies for innovation, technology, and growth. In 2015 Dell named WeGoLook in the #2 spot of their Top 10 Most Innovative Companies in The Internet of Things (IoT) field.
In January 2017 Crawford & Company, the world largest independent publicly listed provider of claims management solutions acquired a majority stake in WeGoLook further solidifying it’s position in the industry.
The company is revolutionizing the insurance industry by improving the flow of information and making it easier to make crucial decisions.
Impressed yet? Consider that in 2012, WeGoLook had 2 employees and a stable of 7,000 lookers. By 2017, the company employed over 130 people and had over 30,000 Lookers registered.
Why is WeGoLook so popular? Because it is solving a big problem in its industry. Put yourself in the shoes of someone about to make a large purchase remotely. This can be a property, car, or auction item. These purchasers are increasingly electing to have a trusted associate, in this case a WeGoLook Looker, do the inspection work for them. People are happy to pay for this type of professional service.
Interested in becoming a Looker? I know I am. You could be earning between $25-$200 per job just by acting as someone else’s eyes and ears. Check out the application site to become a WeGoLook Looker. WeGoLook also has an awesome resource page for Lookers and blog.
Field Agent (North America)
Field Agent is a mobile platform for brief in-person retail tasks. Think of it as on-location market research.
As opposed to other platforms, Field Agent is not peer-to-peer – it’s business-to-peer. Field Agents (taskers on this platform) are hired by larger corporations through the app to inspect products in local environments.
This platform is 100% mobile-based. You download the app, sign up, begin accepting tasks in your area and make money looking at stuff basically!
Tasks can include going to a local grocery store in your community and taking a picture of a product display. Or, going to a local chain restaurant and ordering a particular item on the menu. You will fill out questionnaires about the particular state of a product or experience.
Field Agent tasks can take anywhere from 1 to 60 minutes, but on average last between 1 to 10 minutes. Payouts per task vary, but they can be anywhere between $3 and $20.
It’s hard to make big bucks with Field Agent. But it’s a good way to make a money here and there when jobs become available in your area.
Gigwalk and Field Agent are similar, as they are both market research mobile apps. Gigwalk is available worldwide and was founded by three Yahoo! colleagues.
Gigwalk provides opportunities to complete small tasks that can take anywhere from five minutes to a few hours.
Payouts on Gigwalk range from $3 to $100. As with Field Agent, all you need to do is download the mobile app and register. The registration process for both of these platforms is painfully easy.
Above are three solid options for making money by being someone else’s eyes. Maybe you are always on the go and this is a great way to fill in spare slots of time. Or, maybe you don’t get out enough, and this is the kick in the butt you need.
Easyshift is an app that lets you make money looking at stuff and other small tasks locally. Some of the tasks you might perform include: taking pictures of products at local stores, verifying prices, or even asking for help from an employee.
How Easy Shift Works
1. Download the App & Sign Up
2. Find Jobs Near You
Ensure you share your location so the app can bring up jobs near you. Jobs can be shown on a map or list and exactly what you need to do plus how much the job pays
3. Complete Tasks
You have 24hrs from accepting a job on the app to when you are supposed to complete it. Once done, submit work through the app
4. Get Paid
Once your task is approved, you can expect payment within 48hrs (usually through Paypal), but it could be much sooner!
You can make anywhere from $2 – $20 depending on the task. Some jobs pay more.
Get out there and start earning!
Editor’s note: This post was originally published in Feb 2016 and has been revamped and updated for accuracy and comprehensiveness.
You know you should invest.
Usually, whenever people start thinking about investing their money they typically think about traditional investing strategies, like the stock market or real estate.
Most people want to retire early, build a passive income portfolio by putting up their cash and time up front, and get rich fast.
It’s understandable. Those plans sound great, right?
Too bad that when it comes to investing, nothing is really that straightforward.
For most people dabbling in investing, using the buy low and sell high model simply won’t work.
If you want to invest in something, why not focus on investing in something that you can buy low, generate maximum profits, and then give yourself even more options: sell it to increase your profit margins, or keep the asset earning from month-to-month.
If that strategy sounds too good to be true, it’s not. This is the reality of investing in websites.
Whenever you’re investing in websites, there are quite a few different strategies you can use, whether you want to build a website from scratch or you want to purchase a website that’s already successful.
In this article, I’m going to break down both the advantages of investing in websites, and the disadvantages to help you understand exactly what goes into flipping digital real estate.
Option #1: Build The Website From Scratch And Grow It Yourself
Building the website yourself, and growing it from the ground up gives you a couple different options.
You can keep the website in your portfolio and collect the monthly earnings. Or, you can sell the website to another investor for a multiple of its monthly net profits.
Let’s assume that you have built the website from the ground up and have started receiving consistent traffic. The website grows to the point it is making $200 per month.
You could let the site continue on from month, to month, without growing it anymore, and collect the $2,400 a year in earnings. This is assuming that the website doesn’t continue growing. An extra $2,400 per year is a great supplemental income that happens on autopilot. You could also keep working on the site and grow it past that $2,400 per year mark.
Advantages: You can focus on new projects while this website is continuing to earn.
Disadvantages: You are banking on the notion that the website’s earnings will stay consistent and stable on their own.
Another strategy is to build the website and then sell it to an investor once it has hit a certain earnings milestone.
This is the slower, more long-term strategy where you are planning on building websites up to the point where they are profitable, and then flipping them to investors. With this strategy, you can easily sell a website that’s generating $200 per month for upwards of $4,000, or more.
The $4,000 valuation is based on investors being willing to pay a 20-month multiple of the website’s earnings.
Advantages: Quick cash influx, assuming that you sell the website through a broker, and that your website is earning a healthy income each month. This is a repeatable process that you can reinvest in over, and over again.
Disadvantages: You’re giving up the long-term potential to build the website and earn even more money if you simply held onto the website. Your investor is going to want to take the website to the next level, where the website’s earnings will help justify the initial cost of buying it.
Option #2 – Purchasing established websites.
If you have already set aside cash from your job or other investments, you can spend it on a website that is already generating revenue, and save yourself the time it takes to build a site up from nothing.
Building a website to the point that it’s earning consistent revenue can take anywhere from months to years, while purchasing a website that has already hit that point can significantly reduce the amount of time it takes.
There are two different strategies you can use when it comes to buying established, profitable websites.
You can hold on to the website after you buy it, collecting the monthly profits and reinvesting them to grow the business even further.
Advantages: Assuming that you have purchased a legitimate website that is going to continue earning from month to month, you can sit back and collect the earnings. This will help you earn more than what you’ve paid to purchase the website. You also have the option of putting additional effort into the business and generating more revenue, helping you recoup your investment much quicker.
Disadvantages: You’re going to be required to invest time and wait for the work to pay off. It could potentially be years before you see a payoff, which some investors aren’t willing to wait for.
Another strategy is to continue growing the business until it hits a certain revenue goal and then flip it for a profit.
Advantages: This strategy makes it easy to scale. You can put together a small team of people, or even outsource the process of growing the business, and then start flipping multiple websites at the same time. You’ll start earning your money back through the website’s revenue, as well as through flipping the website to another investor.
Disadvantages: In an ideal world, you’re going to want to flip the website for a high earnings-multiple. Finding the right investor, though, can be challenging, especially if you’re using a website like Flippa. This is why it’s always recommended to work with a broker that can help you get the higher earnings-multiple. Also, if you are working to keep growing the site from month, to month, your investment is no longer passive.
To Build, or To Buy
As a beginner, if you’re looking into investing in websites, you’re going to want to purchase websites through a reputable broker that vets each of the businesses they list for sale. Then, you will need to focus on learning the basics of growing a website.
You’re going to be dealing with a website that is already established and profitable, which helps reduce the chances of the website tanking.
A broker will do most of the heavy lifting, and verify that the website isn’t going to lose traffic or have the earnings become unstable from things like search engine penalties.
Of course, like other investment strategies, there are no guarantees. However, the odds of finding a successful website when you’re working with a broker are substantially higher than trying to find one by yourself through a marketplace like Flippa.
If you work on a marketplace like Flippa, you are going to have to weed through each of the listings to find diamonds in the rough, and then perform due diligence by yourself to verify that the website isn’t going to tank shortly after you buy it.
Many investors utilize Flippa because it is a well-known marketplace. However, those same investors can agree that it’s not always the best place to find trustworthy websites.
The sheer number of websites listed on Flippa means it can be nearly impossible for them to maintain a high-quality set of listings. You’re going to need to spend more time sifting through less-than-desirable websites to find one that’s worth investing in.
When it comes to buying vs building, there are great debates happening, arguing for both sides.
On one side of the equation, investing in websites require relatively low investments. This is, of course, assuming that most people don’t have massive stacks of cash piled away. In these cases, building websites from the ground up is actually a very inexpensive strategy, especially if you do the work and write the content yourself.
Even if you outsource the writing process to someone else, have a graphic designer put together a logo for you, and use a premium WordPress theme on the website, you still may only have a few hundred dollars invested into the website.
When you compare that to the thousands of dollars people devote to starting a “real” business, like a restaurant for instance, the investments are miniscule.
However, buying a website helps you bypass all of the work, and dramatically reduce your learning curve, especially if you’re not necessarily tech savvy. As an investor, you are able to take an established website and offer a multiple of its monthly net profits.
In the end, it is up to you to figure out which side of the equation you want to be on and the flipping path that you want to go down.
About the author: Originally from Australia but now enjoying life in the U.S, Jock Purtle is an internet entrepreneur and business broker. He is an expert in buying and selling websites and digital businesses, and is the founder of Digital Exits.
By: Maggie Aland – Staff Writer at Fit Small Business,
Many small business owners utilize freelancers. Businesses, regardless of industry, are always looking for writers, marketers, programmers, designers, accountants, and more — all of whom they can hire on a contractual basis.
The freelance economy is booming as it offers more freedom and flexibility than having a full-time career path. However, freelancing can be quite challenging especially if you are in a very competitive field. That’s why you have to make sure that you stand out among other freelancers. You can do this by looking more valuable and professional. Here are some tips to achieve that goal.
1. Build a Credible Online Presence
When you apply for a freelance position, employers usually research you online to see your previous work. Make sure what they find is something impressive and worthwhile. The better your online reputation is, the more jobs you’ll likely secure.
Here are 3 things to have in place to ensure a credible online presence:
Have a website / online portfolio.
Having your own website with your portfolio will instantly make you look more professional. Focus on your best clients and include examples of your previous work. Don’t simply put anything and everything you’ve ever done on your site. You might have some early projects that are not up to your current standards. Make sure to include your contact details and to keep your website updated regularly.
Take advantage of social media platforms.
Almost all businesses have their own social media accounts, so you should, too. While creating a name for yourself can take time, building your presence on sites like Instagram, Twitter, and Facebook can help speed up the process. Use your social accounts to connect with potential clients across the globe. Like with your website, make sure that the information you share on your social accounts will help you build your reputation as a credible and experienced professional.
Have a powerful LinkedIn profile.
LinkedIn has become one of the most important websites for job searching. But don’t just create a profile, make sure to create a detailed and powerful one so you have better chances of standing out from the crowd.
Use a clear head-shot that makes you look professional and pleasant at the same time. Craft a compelling headline and use keywords related to your expertise. Showcase your experience by listing the best clients you’ve worked with as well as list a few of your invaluable work skills and accomplishments. Also, take the time to build quality connections and get recommendations from anyone you have worked with. Doing this will help make your LinkedIn profile stronger.
2. Create your own brand.
Developing a brand requires that you have a clear vision of your professional style as well as where you want to take your freelance work. Having a logo may not be a common practice among freelancers but this will help you in building your brand as an industry professional. There are plenty of free tools available online that can help turn your brand identity into visual art. After you developed your own brand and logo, you can print it on your business cards or use it to work alongside your portfolio.
3. Have a professional email address.
Remember that your email address is a reflection of you. Every email you send can either build or detract from your reputation. So make sure to use a professional-looking email address like firstname.lastname@example.org. You will definitely appear more credible when you reach out to potential clients using an email address like email@example.com rather than firstname.lastname@example.org. Plus, creating a business email is free and easy to do, so there’s no excuse not to have one.
Using an email signature will also help you make a good impression. Plus, it’s a great way to promote yourself and your services. Add your contact details such as your phone number, links to your social media profiles, and website. This will provide your potential clients with plenty of options to connect with you and will give them the impression that you take your profession seriously.
4. Utilize client testimonials.
Have previous customers write reviews that you can post on your website or on freelance sites. This will help boost your credibility and establish trust. Testimonials work because they are not strong sales pitches and they are given by unbiased voices. Using real people to show the quality of your service is an effective way to prompt potential clients to contact you. If possible, add an image next to your client’s testimonial. It will help your prospects feel more secure and confident in the review.
5. Always use a contract.
Contracts provide not only protection for you and your client, but they also a provide a great way to build trust and manage expectations. Defining what’s expected of you and your client in writing will ensure that both parties will be happy at the end of the project. Prepare a well-written contract before you start any job. You don’t need a legal professional to draft a contract. Determine what works for you and write it yourself. Make sure to include details on pricing, payment method, copyrights, revision terms, deadlines, etc. Be as specific as possible.
Having this kind of formalized agreement will not only prevent awkward confrontation down the line, but will ultimately help create a more professional image for yourself.
Being a freelancer can be both a liberating and overwhelming experience. It’s not enough that you do what you do well, you also need to project yourself in a professional light so that your prospects will choose you over your competitors. But just like with other things, a combination of good practices and determination will help you succeed.
Maggie Aland is a staff writer for Fit Small Business, a website that provides small business owners with information to help their businesses succeed. She writes on a variety of marketing topics, ranging from newspaper ads to how to market your business on Facebook. Before joining Fit Small Business, Maggie worked as a marketing associate at a niche publishing company.