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News About Upwork

Community Guru
Maria T Member Since: Nov 12, 2015
11 of 16

Mark F wrote:

Maria T wrote:

I ask to you, Mark, because you are the featured contributor Smiley Wink, but any of you can help me.
I have read the article (badly translated) and I can't understand anything Smiley Frustrated
Can someone explain to me what this is all about in words for someone who doesn't understand anything about economics and little English?

What is Upwork supposed is thinking to do?
I would appreciate it very much.


I only speak English and I am not sure I understand it that well.  

 

So, first off the Motley Fool, in case you didn't know it, is a company that provides financial advice (https://en.wikipedia.org/wiki/The_Motley_Fool).  I think it is important to understand that the information this article is targeted to investors both by TMF and by the Upwork people commenting in it.  The reason I think that is important is that it paints the picture in a certain way.

 

Mostly I think what the article is saying is that Upwork is primarily focussed on a strategy of engaging with larger customers for the future.  It is a strategy that might have great appeal to Wall Street because they know what big companies are and that they have tremendous money.

 

I think overall a lot of people have extrapollated that Upwork is shifting away from smaller companies and thus smaller projects.   I do not believe Upwork has or will ever say that even if they do it.


Thank you very much, Mark!
Well, now I know more or less what the subject is about.

And, I add the majority here. Small and medium business customers.
So, we'll see ...

 

Eres un encanto! (use the translator Smiley LOL)

Community Guru
Mark F Member Since: Jul 10, 2018
12 of 16

Maria T wrote:
\\!
Well, now I know more or less what the subject is about.

And, I add the majority here. Small and medium business customers.
So, we'll see ...

 

Eres un encanto! (use the translator Smiley LOL)


Well I woudln't assume that I am totally right in my summation either because I didn't really read it that thoroughly.  I also think Tiffany's take, as always, is probably the one to really ponder.

Community Guru
Wendy C Member Since: Aug 24, 2015
13 of 16

I'm in the same boat as Mark and Tiffany.  As Mark wrote - with the caveat that non-italised words in parens are mine alone:

 

"I am in the same boat all of my clients have been either individuals or small to medium sized businesses (even off Upwork). My belief, bias really, is that I would not work well (nor do I chose to) with larger companies and corporations because they will want to turn me into a cog."  

 

I have clients who have surpassed the $5k mark; a rare few who are over the $10k mark. From U's perspective, these clients are still not as profitable as they would like as almost all their spend has been with me or funneled through me for aspects of jobs I don't do.  No matter what the actual spend - this approach seems to defeat U's end goal of higher and higher client spend per month.

 

I'm not insinuating that U scoffs at the cash; just that the spend pattern does not fit into their 'ideal client' format and, hence, U is not willing to recruit other potential buyers of the same ilk. Where the disconnect seems to be is that these jobs started out as > or < $500 gigs and grew from there. I saw the potential in them which is why I bid originally; everything else from there on was a collaborative effort between the client and me to build his/her business.

 

When one considers the time lines involved in building positive growth, it just makes more immediate financial sense for U to go after the enterprise type client with a guaranteed 30 FL per month spend at $10-$50 p/h each depending on skills.

 

An OTOH observation ... I read the 2nd article in Will's link and was surprised to learn that F****r has apparently upped the ante for quality of both clients and FLers.

 

Community Guru
Jennifer R Member Since: Sep 15, 2017
14 of 16

" This $5,000 figure is a pretty low bar given that it's only about a month of work for the average U.S.-based freelancer."

 

So an "average U.S.-based freelancer" makes $5k each month? Is this on Upwork or in the real world?

Community Guru
Noureldin Y Member Since: Sep 7, 2019
15 of 16

Jennifer R wrote:

Is this on Upwork or in the real world?



In the dreams.


Marvelous.
Community Guru
Noureldin Y Member Since: Sep 7, 2019
16 of 16

That's going to affect the US freelancers only ?


Marvelous.
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