The Gig Economy is no longer another buzzword. With 57.3 million freelancers in the US making up around 36% of the total country workforce, there is no denying that freelancing is now the reality we live in. Some of the world’s largest and successful companies work with freelancers. Businesses worldwide refuse to limit themselves to the local pool of candidates and go looking for the required talent overseas.
The conditions of the COVID-19 outbreak caused job cuts all around the world and forced the workforce to look for job opportunities online. That is why freelance websites like Upwork, offering a convenient, reliable, and easy way to access global freelance talent, have become popular.
A large number of existing freelance online platforms represents an opportunity for a business to join in and develop a freelance marketplace that can close the existing gaps. In this article, we explore the main features of the freelance website Upwork and how to make money on Upwork.
What is Upwork?
Upwork is a marketplace that connects freelancers to potential clients. Clients post jobs they need to be completed, and the freelancers can bid on the jobs they’re interested in. Upwork is the largest freelance marketplace in the world. The main advantage of using Upwork is that it’s a non-vetted marketplace, making it easier for beginners to get started. Upwork requires new freelancers to get their profile approved to ensure there’s a need for the service they offer.
How to Make Money on Upwork?
Setup your profile:
The first step to making money on Upwork is setting up your freelance profile. To get started, click on the “sign up” button and use a Gmail or work email address to create your account. You’ll add your personal information, work history and highlight the services you offer. Make sure you fill out all the information, or at least until Upwork says your profile is 100% complete.
Verify your Identity:
One of the changes Upwork has implemented in recent years is that it requires freelancers to verify their identity before they can apply for work. Once you’re verified, you will have a badge on your profile that potential clients can see. This helps you to build trust and credibility with potential clients.
The first step to verify your account identity is to use a government-issued ID, like a driver’s license or passport. You’ll go through a video verification process where an Upwork employee will ask you a few questions about your profile.
Choose your pricing:
The next step is to choose your pricing. You can either set up hourly or fixed-rate projects with clients and there are pros and cons to both options.
If you use the hourly pricing option, you’ll log your time on the Upwork app. The advantage of hourly pricing is that Upwork guarantees you’ll get paid for the work you’ve completed. As you get efficient at your work, an hourly price could cause you to lose money.
With fixed-rate pricing, you and the client will agree to a set amount for the entire project. This ensures you aren’t trading time for money, but it can be easy to undercharge for big projects if you’re new to freelancing.
Start applying for jobs:
Start applying for jobs so you can find your first client. You can never run out of jobs to apply for on Upwork. For the first couple of jobs, you may have to accept a lower rate until you have some social proof. Once you have a few clients under your belt and some good reviews, you can begin raising your prices.
Types of Membership:
When you create an Upwork account. There are two different plans you can choose between, the Freelancer Basic and Freelancer Plus plan. The basic plan is free and comes with 10 connections each month, which you’ll use to apply for jobs.
Most jobs require up to six connects each to apply, depending on the size of the job. For instance, a small job of $49 will cost two connects. Medium jobs of $50 to $599 cost four connects, and large projects over $600 will cost six connects. If you apply regularly for jobs, the free connects you receive may not be enough. You can buy extra connects at 15 cents each, and can also sign up for plus membership.
Pros & Cons of Upwork:
Wide variety of jobs available
A good way for beginners to get started
Lots of features for freelancers and clients
Upwork takes a percentage of your earnings
The work can be low paying
If a dispute arises, Upwork generally sides with the clients.
If you’re looking for ways to make money as a freelancer, Upwork is a good option for you. Freelancing is one of the few side hustles where you can start earning money immediately. Upwork has a large selection of jobs to apply for.
It takes time to set up your profile and may have to accept lower rates in the beginning. But if you’re consistent about looking for jobs and do good work for clients, Upwork can be another tool to help you grow your freelancing business.
Ron started as a tech blogger 15 years ago. Since then, Ron has developed massive writing skills and is reviewing tools for freelancers and more.
Ron has a huge part of our Everythingfreelance.com community.
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