Growing Your Small Business With Fiverr.com: Tapping into the Gig Economy
February 3, 2019
Bringing in a New Year creates a sense of renewal and opportunities. Yet, many small businesses have a ‘wait and see’ attitude riddled by uncertainty and unpredictability of the future. Most organizations have limited resources and must be cautious about their business growth. If you own a small business, what could you do with an extra stack of cash in your pocket by reducing your expenses while improving the quality of your goods and services? Over the last few years, I have been researching the freelance market in order to assist small businesses with the resource deficiencies that most organizations face.
With uncertainty in the market and competition at a peak, most organizations should rethink their business strategies. December’s outlook was not entirely positive. The fourth-quarter marked the worst start for stocks in 10 years. Many experts are skeptical about the economy for several reasons including: failure of popular tech stocks and the fallout from the trade fight between the U.S. and China. There is a weakening global economy that is wreaking havoc to U.S. companies. According to the Commerce Department in December, U.S. factory outputs were showing signs of slowing down. All of these realities demonstrate that businesses are not safe by maintaining the status quo. Things are changing… like it or not. One of the glaring trends was a search globally for talent. While Fortune 500 Companies have the financial strength for this international initiative, most small businesses could not do this… until now. In this discussion, we examine how today’s small businesses can leverage the power of the gig economy to secure great freelance talent to maximize their performance.
The gig economy allows small businesses to compete with others more effectively. A gig economy is “an environment in which temporary positions are common and organizations contract with independent workers for short-term engagements.” The gig economy is about talented individuals (i.e., graphic designers, programmers) who decide to become freelancers, whether by choice (independence and freedom) or not (i.e., downsizing, layoffs). The trend toward a gig economy has begun. According to a study by Intuit, 40% of American workers would be independent contractors by 2020. In any case, the future workforce will be increasingly mobile and global. In this gig economy, businesses can save resources in terms of benefits, office space, and training. In fact, organizations obtain short-term contracts with experts who might be too expensive to maintain on their payroll.
Freelance websites like Fiverr.com and Upwork.com offer small businesses an infusion of global talent. Most Americans are familiar with Uber and Airbnb in the freelance industry. However, there are lots of more businesses. Fiverr is one of the leading freelance websites where buyers can purchase a service or product for a gig ($5). Fiverr allows freelancers from anywhere in the world to connect. It enables people to make money easily or find a service in need while they are at home. If businesses need to promote their organizations (i.e. logos, posters, media releases) or need advice for their organization (i.e. competitor’s analysis, social media audit), Fiverr is the right place to begin. Furthermore, Fiverr users offer services, such as graphic design and programming. Treat the freelance purchase like any other online purchase. Do your homework.
Before selecting any freelancer, it is always better to obtain a recommendation from close acquaintances. You will be amazed at what businesses are already using freelance websites. Always read several reviews for one seller for at least several weeks before purchasing. Below are the top services for small businesses to consider:
- Business Card Design
- Content Development
- Custom Logo Design
- Editing/Proofreading
- Market Research
- Product Packaging Design
- Promotion (i.e., Promotional Materials, Social Media)
- Video Production
- Virtual Assistant
- Website Evaluation
In summary, most small businesses are trying to grow with limited resources. Buying services with the fractural of cost and efficiency could help many businesses. This article explained how today’s small businesses can leverage the power of the gig economy to secure great freelance talent to maximize their performance. With more than 3 million services on Fiverr.com, finding the right freelancers is a difficult task. There are many inferior or poor-quality products and services. Buyers need to beware. I have spent several years trying to figure out the diamond in the rough. Find help to secure the right talent for your business. Tap into the global talent today and grow your business.
Please share your ideas on this topic.
© 2019 by D. D. Green
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February 11, 2019 at 12:41 pm
Hi Katy,
Thanks for your opening remarks! Freelance websites like Fiverr.com allow small businesses and entrepreneurs to tap into more affordable services.
As you know, cheaper is often not better! However, the value of services and the exchange of funds look differently in a global marketplace.
Thus, how does one evaluate services like graphic design in a global market? Is it really a good deal or not?
Dr. Green
February 11, 2019 at 8:26 pm
One thing that has always concerned me about hiring workers from the gig economy is the ability to adequately vet potential job candidates. Liu (2018) looks at this in his article ‘6 Warning Signs That You’re About To Hire The Wrong Freelancer’. Liu has had the advantage of working in large companies with the backing of a solid human resources department as well as hiring freelancers to help build his startup. Though this transition Liu was able to objectively look at his hiring choices and learn how to better avoid poor performers. One sign that Liu pointed out was to be leery of people who are late to initial meetings. This is something that we should all watch out for because job candidates “are often on their best behavior when trying to win your business” (Liu, 2018) or a place in your company. A second sign that he noted was to make sure you trust your gut instinct. I am sure many of us have made bad hiring decisions because we needed ‘a body’ when we knew deep down it was a poor fit. This usually ends poorly for both the employer and the candidate. I believe that freelancers are here to stay, and Liu’s article provides some great advice for those looking to hire from this candidate pool.
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Liu, J. (2018, October 02). 6 Warning Signs That You’re About To Hire The Wrong Freelancer. Retrieved February 11, 2019, from https://www.forbes.com/sites/josephliu/2018/10/02/signs-wrong-freelancer/#7347d07d7879
February 11, 2019 at 9:12 pm
Hi Michele,
Thanks for your thoughtful points!
I agree with you; vetting all freelancers must take place.
Since about 2015, I have been evaluating Sellers on freelance websites like Elance.com and Fiverr.com.
Yes, I have been disappointed on a few occasions (i.e. poor quality, lack of responsiveness). Yet, failures often bring success. I have learned from those mistakes.
As a result, I’m in favor of freelance websites for securing affordable services. In fact, I love having access to global talent as a small business owner. I have built my master expert list based on my own experience (or referrals from others). My preferred freelancers are customer-focused and quality-oriented. Like using Ebay.com or AirBnB, buyers need to be careful.
Here’s a list of the top freelance websites since 2018:
https://fitsmallbusiness.com/best-freelance-websites-small-business/
All,
Is one freelance website better than another?
Dr. Green
February 11, 2019 at 10:51 pm
Freelancing can be a fast and affordable way to get started working as your own boss. Freelancing has several benefits to explore: It’s flexible, it’s relocatable, and there’s a high demand for help. Services that Fiverr.com offer are great for a small business who is trying to get started. Freelance marketers help businesses and companies promote their brand. According to Peerism “The growth of freelancing worldwide is staggering. In the US alone, freelancers make up 35% or 55 million workers who collectively earned $1 trillion in 2016. That number is predicted to reach 43% by 2020 with some analysts citing that figure at 80% of the global workforce by 2030.” I found this research to be insightful because I didn’t realize how beneficial freelancing is.
W.C- 150
Peerism – https://medium.com/peerism/future-of-work-how-to-avoid-7-5-billion-freelancers-competing-for-scraps-part-1-f1268f2b66b9
6 Comments
As a business owner, I’ve experienced the benefits of sites like Fiverr.com on the consumer side saving on graphic design. But the drastic cost savings caused me to question both the quality of work and quality of working conditions brought about by the growing gig economy. While proponents tout flexible working arrangements for individuals choosing to work outside of the traditional employee-employer relationship, the lack of stability and company provided benefits might outweigh the ‘perks’. While it may benefit a small business like mine and an individual trying to earn additional income on the side, we must consider the impact the gig economy has on workers who are solely employed through gigs. As industry giants like Uber leverage the gig economy, the impact is much wider. ‘Because they claim not to employ the people providing the service, who are considered independent contractors, gig businesses deny having an employer relationship or the responsibility to follow labor laws. Therefore, most do not provide benefits such as health or workers’ compensation insurance. (Tran, 2017).’ Should we attempt to mitigate these concerns through legislation? Without stricter regulations, are you concerned we may see the technological equivalent of the child labor violations that outsourcing brought?
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Tran, M. (2017). The Gig Economy and Contingent Work: An Occupational Health Assessment. Journal of Occupational and Health Assessment. 59(4). Retrieved from https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5374746/
The gig economy has more pros than cons and we are going to explore a few reasons why. The gig economy is a rapidly-growing venture in our world and I find it intriguing, the possibilities are endless. Miles Jennings scoped out seven of the positives that are seen through this economy: flexibility in pay and hours, variety of work, possibility for ‘enough’, mimics entrepreneurship, outlet for growth outside of traditional jobs, ease for employers and the vast amount of potential for new opportunities (Jennings, 2018). Like Jennings, I find this economy a huge step for many people who are looking for a start or looking for new avenues to use their skills/knowledge. Personally, I would love to utilize this opportunity if I had the talents that prove to be popular on the market. I am definitely going to recommend these sites to my cousin who has recently started a business with two other investors. This resource would provide him with a variety of individuals who could enhance his business with just a few small gigs. All in all, this venture is great but like Dr. Green mentioned – research is crucial!
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Jennings, M. (2018, April). 7 Reasons Why the Gig Economy is a Net Positive. Retrieved from: https://www.entrepreneur.com/article/310685