Making Money With Fiverr

What follows is an introduction to Fiverr, followed by a list of the people making the most money on Fiverr this week… you wont find this info anywhere else…

Have you got a great idea for a simple service you could sell? Maybe you have a specific skill that you excel at which would be marketable? You could use a microsourcing site such as Fiverr to turn your ideas and skills in to a sustainable full-time business. Below we take a look at exactly what makes Fiverr tick, what kinds of products sell, and how to build a viable business using this top microsourcing site.

What Is Fiverr?

Over that last decade we have witnessed a veritable explosion of websites that enable businesses to recruit ad-hoc staff as they require. Originally, this was in the form of project driven freelancing sites such as Elance and oDesk. More recently, we have seen the emergence of microsourcing sites, which allow people to purchase much smaller levels of services from freelancers. Fiverr was the first of these sites, and remains the most successful to date. Where a traditional freelancing site might be great for finding a web designer to build an entire site from scratch, it might not be the best place to find somebody to design something like a small logo. Fiverr on the other hand, is perfect for these kinds of microprojects.

How does Fiverr Work?

The idea that drives Fiverr is really very simple. You may sell anything you wish (as long as you stick to the rules) for $5. Sellers simply create a listing explaining what they are going to sell. Buyers can browse and search listings, and when they find one they are interested in, they simply buy it for the set price of $5, what could be simpler? Each listing is presented with full information about the seller, including their overall rating, how long it will take to deliver the order, and how many people have already ordered and are waiting. If the buyer likes the look of the listing, they simply click the large ‘Order Now’ button and are walked through the ordering process. Once the provider delivers the order, they are paid $4 for every $5 of services they sell. It really is a very simple concept, and one which works very well. Fiverr has been an incredible success, and is the most popular microsourcing site in the world, with many sellers making some great cash through the site, as shown by the number of sales in this screenshot below:

profiting with fiverr

What Sells on Fiverr?

The most direct answer to this question is everything! Take a look through the current listings a Fiverr. You will find everything from attractive females offering to write a message across their cleavage, to serious professionals offering graphic design services. This is actually what makes Fiverr so successful. If you spot something absolutely over the top, you can spend a quick $5 just to check it out, a very small chunk of change. The real secret to selling on Fiverr is using your imagination to come up with something that will attract buyers. This can be something obviously crazy, or it can be something that has real value. Both options seem to work well. For people with a skill to sell, then the latter option would probably be best, this will allow you to develop your business outside of Fiverr, more on that below. Check out the screenshot below for an example of how diverse Fiverr gigs can be:

profiting with fiverr

Can Fiverr Be Used to Build a Business?

Yes, Fiverr is an entirely viable vehicle for building a sustainable business, but with a single caveat. Many people, especially those who sell the wackier services, see Fiverr as a source of extra income, not a full-time vocation. They are not too worried whether they sell 5 gigs or 50 gigs. Building a working business takes a difference approach. It requires both a valid idea for a product to sell, and a commitment to providing great customer service to develop a reputation. However, the real value of Fiverr for anyone serious about building a healthy business is as a vehicle for gaining prospective clients for larger projects, and the fact that Fiverr is a great place to make first contact with new clients.

Extending a Fiverr Business

As mentioned above, Fiverr is a great way for professional people to find new clients for a much larger, more profitable business venture. If we consider selling a $5 gig on Fiverr as a point of contact, then even if the seller is providing the service at a loss, they are in a position to extract additional value from the client in the form of more work. For example, a graphic designer may spend an hour to make a logo to sell for $5 to a Fiverr customer. However, that same customer may come back to the designer for a complete set of site graphics at some stage. A smart Fiverr seller will build a backline, and keep lists of customers, sending them regular mailings of offers, and checking to see if they require any more work. This is the sweet spot for anyone wishing to build a viable business using Fiverr. Don’t see Fiverr as a main source of income; instead see it as a marketing avenue, a source of leads and contacts, which can lead to much higher paying work, and a serious full-time income.

People Making Money with Fiverr right now (updated, 27th October 2012).

Now that you understand the basics, what follows is a screenshot of the top guys on Fiverr making money right now.

Collected = orders that have been fulfilled. Queued = orders in the queue waiting to be processed.

So… each “collected” is at least $5 (more if the seller allows for “upsells” and extras). And each queued means people are buying right this second and the seller has yet to fulfill the orders. I hope this info inspires you to set up your own business on Fiverr!

make money with fiverr

 

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