Ever walked into a store having a sale. You see the sign out front shouting “Everything Up To 70% OFF!” And the “70% OFF” part is REALLY BIG, whilst the “Everything Up To” is pretty small. Well, you get excited, because wow! 70% off is huge. Well, the problem is that MOST of the sale items are not 70% off. In fact, they are more likely 20% or 30% off. Not bad, but by no means what you went in for. So, with disappointment, you plan to leave quietly and complain about it later. Or, if you’re someone like my wife, then you will probably buy something anyway just to be polite.
Fiverr is a lot like that. The tag line Is “Anything for $5” or “Hire people for only $5.” And you can, but that’s only for basic, basic gigs. Go into any highly ranked offer and you are likely to see three various levels of offers available. E.g. a basic, standard and premium gig.
And often, the basic gig is not even worth it! Not all gigs do that. But, there are also add-ons available, and almost every gig will have this. This can be anything! You could add extra revisions for $5, you could add a chart, or an extra minute of time, or delivery in less than 2 days. It can be anything. This is what makes Fiverr powerful. Because prices START at $5 and can go as high as the sky after that.
Having a look at the main Fiverr website again, I don’t even see many gigs being advertised for $5 anymore. I see $20, $30, $10, $50, $128, $50, $60, so on. It took me a while to actually find a $5 gig. So, is Fiverr good for a Fiver ($) anymore? Who knows. What I do know is it is still a great start for any entrepreneur looking to hit $100 a day.
Bonus Offer (Free)
Pro’s & Con’s
Low barrier to entry
Low barrier to entry
You can sell almost ANY service
So can everyone else, lots of competition
You can make a full-time income
It is difficult to get started at first
Training wheels for entrepreneurs
You don’t get much help from Fiverr
Get paid to practice your skills
Okay, ideally you are going to do something you are good at on Fiverr. By that, I mean a skill you have been learning and growing. You may have something in mind already, if not then it is time to learn. Try and find a skill that will be in high demand in the coming years, here is a list of ideas:
Bi-lingual (i.e. English & Chinese)
Conversion Rate Optimisation (CRO)
These skills are going to be some of (or already are) the highest in-demand skills in the near future. You will already see many of these popping up on lists “Top Skills To Get You A High Paying Job in 2017” or some such. Invest time into one of these and you will never go hungry.
Whether you are aiming for a job or just freelancing, one of these can take you there. And the beautiful thing is that you do not need to go to university, you do not need to go back to school. You can learn the entire skill, in full, and better, online.
Spend an hour a day and more on weekends doing some focused learning, and when you have a decent grasp, it’s time to set up some jobs around your skill on Fiverr.
How I Would Do It
Start off by getting a lay of the land, check out the top sellers in the category you want to get into. You should have some idea already of what your skill is and where you can sell a great service. Check out their job listings and figure out what they have done right. You’ll start to see trends among the top sellers, they all do the same things. It may be hard, but try to come up with an original twist on everyone else’s service. This will be difficult since there are SO MANY people competing, just about everything has been thought of already.
Damian Pros is making 6 or 7 figures a year on Fiverr and gave 3 fundamentals of running a Fiverr business in his book, Conquering Fiverr.
Treat it like a real business
Offer exceptional service (so many don’t on Fiverr!)
Give more than expected
Here are the steps I would take:
After identifying a niche or specialisation, make an account and list your first gig
You will want to have good branding (consistent across all gigs), logo, name, etc.
Ensure it is a gig you can either outsource for less than you earn or that you can complete in 5 minutes ($5 for 5 minutes)
This is just for the $5 gig
Have great up-sells or bigger packages (or both)
You will have an idea of what kind of packages and up-sells other uses are selling by looking around at all the top sellers first. Copy them if it is something you can do too
You will also have seen the kind of descriptions they use, you want to get across the same gist as them, but in your own words and unique to your gig.
Don’t forget to have an AMAZING picture or video that grabs attention
And use the same tags as the top ranking gigs
Done that? Time to add new gigs! If I recall, Fiverr allows 7 gigs at first, and more when you have ranked up by selling a few orders. You want to fill out EVERYONE YOU CAN!
One way to get your first sales is by doing a lot more than your competitors for cheaper. For example, if your competitors are doing 500 words for $5, do 1,000 words for $5. Why? At first, your main weakness is not having reviews. Once you have some, you can raise prices.
The hard part now is promoting your gig. You could try and game Fiverr by running traffic/ads to your gig to get your first sales. This helps your ranking in their search results.
If you have a website, YouTube, or any social media with a following, definitely post it there!
Don’t forget, you can also have lots of other gigs, you never know what might sell. Check out what kind of gigs are selling in Fun & Lifestyle to see what I mean!
$100 A Day Math
Using the standard route of $5 a day, you would need to do 20 gigs per day. Assuming it only takes you 5 minutes of work per gig, that is just 100 minutes of work. But, more likely it is not going to work out like that. Getting 20 gigs a day is extremely hard, so we will try and sell bigger packages.
It’s difficult to say what you will sell and for how much, but let’s use an estimate.
Assuming three packages of $5, $25 and $50. Most sales will fall into the $5 or $25 range.
If so, you need 20 gigs to sell per day or 4 per day at $25. Or 2 $50 gigs.
But, there are also up-sells! You will have maxed out your up-sells. And ideally, you will have your up-sells and packages set up so that you only need to sell 2 or 3 gigs per day to hit $100 a day. That is do-able! ESPECIALLY if you have maxed out how many gigs you can have! If you have 7 gigs, there is a chance that each will sell a gig per day.
Scalability – Can It Become A Million Dollar Business?
Yes, but you would need to be in the top 1% of businesses on Fiverr. And you would need to be outsourcing the work on a very cheap basis. So, I would say this is a very long shot.
More realistically, you should be using Fiverr to first hit $100 day, then aim for 6 figures a year. Somewhere between $100 a day and 6 figures, you will have begun work on your main business with the goal of being a million-dollar business.