With Christmas right around the corner, it's not too soon to be stocking up on Christmas gifts and stocking stuffers for friends and family.
Luckily, I have about 95 percent of my shopping done already (please don’t hate me!) but I’ve realized I need to add some extra people to my gift list. Instead of skimping on gifts, I've been looking for ways to make extra cash so I can still buy nice items without blowing my budget. One of my favorite ways is Fiverr.
What is Fiverr? Basically, it's like Craigslist, but the focus is services. It's a website where people can list what they are willing to do for $5.
How does it work? After signing up for an account, users are given the option to "create a gig." That's where people can list their services available for $5. For example, someone who teaches piano lessons would list the number of hours/days they are available and any other details about their teaching (beginners only, advanced students, children, adults, etc.).
Some of the perks of Fiverr include the ability to view all sales, revenues, or due dates for any services offered. If a break is needed, the service provider can put a hold on their account to prevent anyone from placing any additional orders.
What does it pay? It depends on how hard the service provider is willing to work. It is possible to make over $400 in one month. Sellers make $4 off of each sale after payment transfers through PayPal. The money is sent 48 hours after a successful gig, and it is possible to cash out as soon as the seller makes their first $4.
Tips for Success on Fiverr
- Be unique. If everyone is selling the same product for the same price, the only person that is going to make any money is the one who has the most customers. The more unique a service, the more likely it is to make money. Try to think outside of the box and play to your strengths. I've also found that if I choose a gig that makes me happy, then I tend to do a better job. This makes my customers happy and keeps them coming back.
- Be realistic. Don't go overboard for $4. It's one thing to work hard, but time is money. Ask yourself if your time is really worth the money. Don't offer too much or divide services up into separate gigs. On the other hand, don't take advantage of people, either. Ask yourself if you'd be willing to pay $5 for that service and if it would be worth the money.
- Gain more service options. At some point Fiverr users "unlock" options that add on extra services. For example, I may offer to write a 300 word article for $5, but after my options have unlocked, I could offer an "extra service" of a 600 word article for another $5.
- Connect with your clients. If you're good enough, it is possible to pick up additional work outside of Fiverr. That can lead to more money since there isn’t the need to lose a percentage of the commission to the website.
You're not going to get rich using Fiverr. But you’ll make enough to sweeten your gift list. By using Fiverr I was able to buy several gift cards for my friends and family, and the best part is I've still got two months to see how much more money I can make.