Leveraging on Freelance marketplaces is one of the modern ways of generating passive income streams. Though it’s been a trend for a while, yet, it is not getting any older. Why? More people are getting into this competitive income sector.
If more people are getting into the competitive sector, then there needs to be more ways out there for freelancers to be able to diversify their income.
Thankfully, the industry has a lot of opportunities, for even beginners to work with in order to start generating income. One of which is the Freelancing Marketplace.
Freelancing marketplaces are pillars of the freelancing world that brings together clients and freelancers.
In as much as you have a presentable service, you can easily make your own way out of any freelance marketplace. Yes, even if you are a newbie.
Except that you might be there to face intense competition. Worse enough, most newbies give up before the time they plan on.
In this article, we are going to delve into freelance marketplaces and how freelancers can make passive incomes from it.
What are Freelance Marketplaces?
Freelance marketplaces are platforms dedicated to freelancers and buyers of their services – potential clients – to come in contact and set up trading relations.
You as a freelancer get to sell your service to clients who are willing to buy your service on the platform. You might want to check out our article on How to market yourself effectively as a Freelancer in Social Media age to know how to do this effectively.
Similarly, you’d be offered a security of income, or should i just say an escrow which is something most newbies find difficult to manage when working with new clients.
Ohh yes, you can be comfortable with your income on freelance marketplaces just as much as any independent freelancers.
Can a Newbie Make Passive Income From Freelance Marketplaces?
Important question… though tricky. A newbie on the freelance marketplace can survive the competition and drive their own way to passive income in as much as they can put in the work.
The amount of work a newbie will put in finding jobs on the freelance marketplace is a lot more than what experts or intermediate freelancers in the same sector will be putting to get opportunities.
Similarly, there are lots of jobs on freelance marketplaces specifically dedicated to new freelancers in every sector. However, only a standout newbie can break the shakes of most clients.
Looking at it from a layman point of view, no one wants a mediocre job. Instead, they demand someone with maximum enthusiasm and creativity with a proof of work. As much as you can touch every part of this in your portfolio, you can easily make it from freelancing.
What are the Examples of Freelance Marketplaces?
There are lots of websites dedicated for freelancers and clients to meet and exchange services, some of which include:
- Upwork
- Gighunt.xyz
- Fiverr
- Indeed
- Freelancer.com
- PayPer hour
How To Maximise Your Income As A Freelancer?
There are ways by which you can maximise your income as a freelancer. Marketplaces alone wouldn’t cover that income you are looking forward to in your career as a freelancer. Some of which include:
- Blogging and Vlogging
Aside from marketplace jobs out there for freelancers, blogging is one of the most important concepts which freelancers can leverage on in order to make more money.
If you are a freelance writer, you can set up a blog for yourself writing about the basic things of life. Infact, it might even be your lifestyle as a freelancer.
Similarly, if you don’t want to own the responsibility of owning a personal blog you can become a guest writer for another freelance blog. Yep! It also works the same way as running your own blog.
What if you are not a freelance writer? It’s alright, if you can get a little bit creative about writing, you can also start a blog for other sectors of freelancing.
And if writing is not your thing at all, why not just go for Vlogging. That is making videos about your work, your progress and monetizing it. This works well with video content websites such as YouTube.
2. Take on Small Projects Regularly
Can’t lie to you? It’s always difficult for a newbie to get it right at foresight in this freelancing world. Your best bet for the mean time is to take on smaller projects, whether in your industry or not.
Taking small projects allows you to diversify your income and gain more experience in your niche until you can eventually hop on the big projects.
3. Clients Referrals
In one of our earlier articles, we discussed the importance and strategies of networking and guess what we hit the nail on the issue. I think you should check it out too.
In the article, we discussed how far clients relationships can take freelancers. Of course, clients come and go, and it takes some time to build relationships but don’t forgo any opportunity you have to make up a lifelong relationship with your clients.
After completing jobs with clients on marketplaces, keep in touch with them occasionally. There is nothing as good as a happy client introducing you to another.
4. Selling assets and digital products
There are different kinds of digital assets depending on your sector of freelancing. And there is a lot of demand out there for those digital assets. Why not start from there?
Designers see digital assets as mockups, design templates and so on. Writers see assets as digital ebooks, copies etc. Even web designers have assets in the form of website templates and themes.
Funny enough, there are digital marketplaces for these assets too such as Gumroad, Teachable and so on.
Conclusion
I started freelancing from marketplaces at the early stage of my freelancing career. It’s one of the easier foundations I had in my career. Though it was a little bit difficult at the beginning, within a month I got my first job.
Nevertheless, as much as you are marketing your service on freelance marketplaces, don’t forget to always update your portfolio and online visibility. You don’t want to be left out of an opportunity from any other part of the industry.
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