How To Create A Profitable Fiverr Business Model
Does making profits on Fiverr sounds
like a outrageous idea to you? Think
again…
As we discussed earlier, ‘The name
Fiverr has been derived from an
American Slang where, “Fiverr”
actually means a five dollar bill.’ So this
is a market to sell and buy products in
just 5 dollars.
This is still not considered as a serious business by many people. According to
them you cannot go anywhere with a
small amount like $5.00. However in
reality, there are a lot of sellers who
earn in the range of $2500 - $3000 per
month by just investing few hours every
day.
As you are selling your service, you
need to be very creative with your ideas
to earn money. For example, a top seller
is offering his or her services to design
your Facebook timelines, leaflets etc. for
just $5.00. This seller sold more than
800 gigs in a period of one year.
For someone who is great in graphic design, it would just take one or two
hours to complete the task. You already
have all the designs and templates ready,
just a bit of modification is required as
per the requirement of the buyer.
This example can give you a fair idea of
how simple it is to make money on this
platform.
What market is attracted to Fiverr?
People who are looking for the services
at a low cost are attracted to this
platform. Owners of small businesses
are the main customers. They are looking
for high quality work for an affordable
cost.
A word of caution for buyers, SEO
(search engine optimization) services
should not be bought from this platform.
As success or failure of these services
would impact your business directly.
What gigs should be purchased on
Fiverr?
Gigs like, introduction videos, graphic designing, product boxes, cover designs,
eBooks etc. can be purchased from this
platform. As a buyer, you should ensure
that you always purchase from a top
rated seller.
Sellers on Fiverr are primarily
hardworking people who are looking to
earn extra money. In case you someone
cheats you on this platform, you may
contact Fiverr support team and they
would take care of it from there.
In serious situations, your money would
be refunded by Fiverr and the scammers
would be thrown out.
How to earn money on this platform?
You can earn money on this platform by
offering the high quality services that
targets a certain niche. You just need to
remember here that any business
requires time and a good amount of hard
work, before it starts earning money.
This holds true here as well.
Turning this platform into a serious
business
If you consider Fiverr as a serious
business, then these small deposits of 5
dollar can convert your PayPal account
to $500 to $1000 every month. But, how
do you actually make money from these
5 dollar gigs?
a. Offer the services which do not take
a lot of time to get completed
b. In case you offer services for fixing
bugs for software or writing articles,
which have high time requirements.
Therefore, it wouldn’t be the best
investment if you did these kind of
gigs.
c. Earning on this platform is a simple
mathematics calculation. To earn
$800.00 every month, you need to
make $15.00 every hour, which
means 3 gigs in an hour, or every gig
should only consume 20 minutes or
less.
• Working hours per day: 4
• Planned Earning per hour: $15.00
• Earning in a day: 4 x $15.00 =
$60.00
o Getting 12 gigs (4 hours x 3
gigs per hour) every day is bit
difficult, so let’s take an
average earning of $40.00 per
day.
• Working days in month: 25
• Basis average of $40.00, your
earning for the month: $40.00 x 25
= $1000.00
• Fiverr’s commission @20%
(20% of $1000) = $200.00
• Your final earning: $1000.00 -
$200.00 = $800.00
We have done this rough calculation
with the assumption that your gigs are
only for $5.00. However depending on
the cost of your gigs ($20.00 or $ 50.00)
this calculation can increase as well.
d. There are only a few services which
are easy and help you earn easy
money, creation of timeline covers for a Facebook account, logo
creation, small video (30-35
seconds) video recording, tweeting
the followers, and this is not an
exhaustive list.
e. The idea of earning money on Fiverr
really boils down to your creativity.
Opt for a less time consuming
service. Make sure that this is
something people would love to buy
over and over again.
f. Always think from the prospective of
a buyer before deciding for a service.
All these pointers are good for reading,
but how do you persuade people to
purchase my gigs?
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