| Do you write? Can you string together words and | | | | open projects by $250 and multiply that again by 70% |
| sentences - like this? Would you like to make a few | | | | you will get a fairly good idea. For example, 200 open |
| extra bucks (maybe more...) without the hassles of a | | | | projects X $250 X 70% = $35,000 |
| traditional job? You would? Then welcome to the | | | | -- But What About the "Big" Projects? |
| wonderful world of freelance writing on Elance. | | | | There are big projects on Elance, they get posted |
| -- What is Elance? | | | | infrequently but they are available. As you might |
| Elance is a website forum, a marketplace that allows | | | | imagine these projects are usually posted by |
| people from all over the world to actively participate in | | | | companies - not people - and they usually pay 5 to 10 |
| buying and selling their products and services. As a | | | | times what a regular project pays. With this kind of |
| freelance writer you can offer your writing services | | | | payout you can imagine the competition is quite high, |
| with very little effort on your part. If you can surf the | | | | however pitching to a business is not the same as |
| web, use email and generally communicate in English | | | | pitching to a person. |
| (yup, it's the principal language used on Elance) then | | | | -- What About Gotchas And Other Issues? |
| you are pretty much good to go. | | | | There aren't too many. The biggest one that springs to |
| -- How Does It Work? | | | | mind is that Elance currently does not offer a refund |
| It's quite simple; Elance is a subscription based website | | | | policy on their subscriptions. You actually have to get |
| that charges you a small fee to become a member. | | | | on board and sign up to get a feel for the Elance |
| At the time of writing basic monthly subscriptions begin | | | | market. And to be quite frank, you really need to give |
| at $30. Once you're registered you can browse all the | | | | yourself a fighting chance and sign up for three |
| active (open) projects and bid on the ones that interest | | | | months. |
| you. As a member you can even set up a personal | | | | If you signed up for a three month Select membership |
| store front (profile) and showcase your products and | | | | you would currently pay $150 USD. That's not a huge |
| services to potential buyers (and it's not unusual to get | | | | amount of money, but it is a bit steep if you find out |
| direct enquiries from buyers this way.) | | | | that Elance is not for you. |
| -- If Your Bid Is Chosen | | | | -- Here Are a Few Elance Quick Facts: |
| If your bid is selected you will get the chance to decide | | | | * 100,000+ potential buyers visit Elance Online every |
| if you want to proceed with the project or not. If you | | | | week |
| decide to go ahead then you and the buyer enter into | | | | * Web's #1 consulting site and top 1,000 most visited |
| an agreement (Elance provides templates and | | | | site |
| samples at no charge.) You provide the services to | | | | * Awarded Best of the Web by Forbes (2003) |
| the buyer and the buyer pays you what they | | | | * Reliability Certified by the Better Business Bureau |
| promised - simple. | | | | -- And Here Are a Few Neat Benefits of Using Elance: |
| Elance gets a small commission on all projects that are | | | | * Easily market yourself to a global pool of prospective |
| awarded. But don't worry, there is no cost to you for | | | | clients. |
| winning projects - that's the buyers responsibility and | | | | * Pitch your services at prices you establish. |
| the buyer will be billed directly (it doesn't even come | | | | * Make a profit as an independent consultant. |
| out of the agreed project payments!) | | | | It's true, thousands of service firms and individuals take |
| -- So How Much Work Is Available To You? | | | | advantage of Elance as a marketing channel. And |
| That's a good question; after all if you are going to | | | | Elance actively supports your efforts with aggressive |
| spend at least $30 a month on a basic subscription, | | | | online and offline marketing delivering high volumes of |
| you really need to figure out if the subscription is worth | | | | traffic. |
| it. The number of open projects varies, however it's | | | | -- Remember, You Can Win Work 3 Different Ways: |
| not unusual to find between 150 and 200 writing | | | | (1) Answer the phone after people check out your |
| projects available at any given time. | | | | online profile and work samples. |
| -- And How Much Are These Projects Worth? | | | | (2) Develop pre-priced 'buy now' packages that buyers |
| There are currently two types of project postings on | | | | can purchase instantly. |
| Elance: BASIC and SELECT. If you have only chosen | | | | (3) Bid on projects - many buyers post their |
| a basic membership then you can only bid on Basic | | | | requirements directly online. |
| projects. You will need a Select membership to bid on | | | | -- Conclusions |
| the select projects. | | | | Before you dive into Elance you might want to do |
| And the reason you would buy a select membership is | | | | some digging on the Internet to get a feel for what |
| simple - select projects pay more, are less likely to end | | | | others have experienced. For instance you might want |
| without being awarded (yes there are people on | | | | to find out more about the bid success ratios, the real |
| Elance who post projects to "get a feel for the | | | | differences between Basic and Select projects, how |
| market" and have no intention of actually awarding the | | | | many projects will pay you more than $1,500 and so |
| project!) | | | | forth. |
| So back to the main question - how much are the | | | | You can make money on Elance if you know what |
| projects really worth? Again, this data varies over time | | | | you are doing, and quite frankly all it takes is a little time |
| however here's a quick 'rule of thumb' that I've found | | | | and patience. Good luck, and happy bidding! |
| to be fairly accurate: If you multiply all the number of | | | | |