Moneymaker Trend Watch: Fiverr

Make Cash on FiverrRecently, I’ve had a few people ask me about Fiverr and whether it’s worth the effort. So- in my quest to let my readers know about all of the possible gigs and work-from-home jobs they might want to pursue- here’s my review on Fiverr.

What Is Fiverr?

The principle behind Fiverr is simple- you offer a specific service to anyone who wants to buy it for five dollars. The reality can be a little more complicated- you have to offer something that people actually want to buy, and you have to make sure it’s worth your time. Potential things you can offer on Fiverr include resume revamps, website pages, logo creation, press release writing, and voiceovers.

It’s also not limited to five dollars- you can set prices for more complicated versions of your service at higher rates.Once you develop a following of clients, you might even opt to stop taking $5.00 gigs altogether.

The other thing to consider is that Fiverr takes a cut of that $5.00, so you actually only get about $4.00 per gig.

How Much Can You Make on Fiverr?

Your earning potential on Fiverr is completely up to you. Some people make over $100,000 a year, but it usually takes a while to build up to that level. Most users of the site make occasional pocket change but not much more. To really make the big bucks, you need to dedicate yourself to developing a customer base and referrals.

Building up a reputation is the only real way to make significant money on Fiverr. Most customers won’t leave reviews at all, and you need somewhere between 200-500 reviews to really rise above other people in your category. Which means that you’ll need to complete a lot of $5 gigs before you can raise your prices.

Professionalism also matters- so investing in a professional website or videos depicting your work can help you get the higher-paying gigs you want more quickly than if you appear amateurish.

In general, Fiverr is a decent place to start if you want to try something new, and it has serious earning potential if you put a lot into it- but you need to choose wisely when deciding what to offer for $5.00 or you’ll end up spending far too much time working for low pay.

 

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