Many people start making money online by posting their services on freelance websites like CraigsList or Rentacoder.
Though there are quite a handful of similar job board websites where online clients can post opportunities, freelancing is often considered the premier freelance market out there.
But if you’re looking for a full-featured freelance solution, then Freelancer is usually the way to go.
Whether you’re a writer, web designer, programmer, SEO expert, copywriter, virtual assistant, Social media manager or even a secretary, there is a position waiting for you on one of the many freelance marketplace that offer various services.
So let’s take a peek at the benefits and drawbacks of working with freelance websites like Upwork or Elance.
First, let’s start with the most significant advantage of working with a freelance marketplace. That would be finding a large and diverse clientele.
Because these websites allow employers to post a broad range of available freelance jobs, you can usually find many jobs that you qualify for in your area.
This is especially helpful if you’re new to freelance jobs and you don’t know anyone who has used the services before.
Advantage Freelance Market
Another significant advantage is that most freelancers and workers these days are experts at what they do.
Their skills are in demand, which means clients are willing to pay reasonable fees for them. The fact that you won’t have to deal with coding or writing makes hiring someone easier.
Hiring an actual person also cuts down on overhead.
Most Upwork clients run their business from their own homes, so hiring an employee isn’t feasible. You have to pay for benefits, insurance, payroll taxes, and all the other expenses that come with hiring someone full-time.
Disadvantage Freelance Market
One disadvantage of hiring freelancers or up to work is that you have little control over them. In other terms, no one knows precisely how you’re going to get things done.
Unless you have already developed good relationships with your freelancers, it’s always possible that they could pull a bait and switch and perform work that doesn’t get done on time or within the agreed-upon rates.
If this happens to you, it’s not too difficult to blame the client since they got into a contract that you weren’t aware of.
On the flip side, the lack of control over your freelancers gives you more options and freedom to set your rates and fees.
Freelance marketplaces allow you to set a base rate and customize it to fit the needs of your business. Pricing can be based on experience level, industry, and geographic location.
Many platforms even allow you to charge per word or a flat fee based on the number of projects you’re willing to complete.
This is very beneficial to owners of small businesses, who typically have a smaller staff than websites hiring a larger team of freelancers.
The lack of constraints associated with freelancing also has a tremendous benefit to new entrepreneurs.
For one, there’s a much lower risk of getting burned out on one project. If you don’t feel passionate about completing a particular job, you will not be as likely to continue pursuing it.
Newbies to the freelance market often underestimate the amount of information, creativity, and quality of work needed for specific projects.
By allowing yourself and time to focus on these aspects, you can complete more freelance jobs and meet more deadlines.
The benefit of the Freelance Market
Another benefit of the freelance market is the growing number of clientele it serves. As more people enter the workforce, freelancers have more clients than ever before.
This allows freelancers to expand their client base and find work in fields they’re most passionate about while making a sufficient living to support their lifestyle design business.
Though there are plenty of benefits of the freelancing trend, there are also plenty of criticisms.
Some individuals worry that it exposes poor work ethic since employers are typically looking for reliable, creative people who won’t quit when offered a contract.
In addition, many people argue that the process takes too long, and clients don’t always communicate clearly or understand the details of a contract.
However, the freelance market can be an excellent way to make a living doing what you love if properly executed.