How to make money from How to Make $8k Per Month on Freelancing and UpWork
Questions? Message me on Facebook: https://www.facebook.com/dbhmatt
Most of the people think of freelancing platforms as of job platforms where you have to bid on offers to get a job. You work hard applying to jobs and hopefully you get a job and do everything yourself. Is this good? No! You should think like an entrepreneur instead!
So how does that work? You need to implement freelancing business model if you want to turn it into 6 figure business model. You don’t want to do things yourself anymore but you want to outsource every single step of the process.
You outsource things in the respective manner:
1. Product delivery (20% of the project price)
The best way to find people is Eastern European (ex. Bulgaria, Romania, Ukraine) University Facebook groups
2. Lead generation (fixed around $150/ per month)
The best way to find people is Asian (ex. Vietnam) University Facebook groups and get them to create new profiles over and over using VPN. This way you are only limited by amount of job offers posted per day instead of amount of job offers you are allowed to apply to.
3. Sales (20% of the project price)
The best way to find people is sales learners Facebook groups
4. Project Management (20% of the project price)
The best way to find people is your social circle
Now your business is automated so you do not have to work in the business yourself. You only work on the business now.
You will find around 180 job offers in any category on UpWork per day. It means that there is around 180 web design jobs, around 180 assistant tasks, 180 photoshop jobs etc. The conversion rate (of people contacting you) is around 10% (it means that around 10% of people you contact will get back to contact you). So around 18 people should contact you per day. If 18 people can contact you per day this is freaking obvious you can close a sale on at least some of them on a monthly basis. Your sales people should close one sale per day if they get 18 leads and if they are not even too good. So if you guys can close 1 out of 18 people you are good to go 🙂 One sale per day 🙂 Just make sure you know how to construct the right proposal to your clients. Worst case scenario 18*30 = 540 leads per month. Shall your sales conversion rate be only 10% you gonna close 54 people per month.
The calculation is quite nice. Let the average project price be $460 (This is my average project price offered by client, in fact is is higher), then you only need those 54 sales to get almost 25k.
25k in sales rounds up to above 8k in profits after you pay your team.
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