Will an influx of freelancers reduce our net competitive position?

[bizwriterjohn]

Probability is, we will see an influx of freelancers, with either the change-the-mode-of-work or I-have-to-make-money-any-way-I-can.

The general strategy may be for new-to-platform freelancers come in at low-ball rates so as to provide competitive pricing advantage.  At the same time, they will have the usual stresses and complexities of positioning their portfolios and profiles.  Learning the tactics for proposing.  Figuring out delivery strategies.  It is not so very effective to just throw up a profile written in 5 minutes and load in a few portfolio pieces, net-net.

It would be interesting if Upwork provided a little dashboard we could dial into under Stats some day, that shows the number of freelancers, net, in the system and the number of job listings for a two week period. That implies a not-so-massive change to the Stats page and would be fascinating to track.

[hglewis]

Hello Nichola,

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Nichola L wrote:

I think the writing is on the wall for many experienced editors (and translators) on this sort of job platform. Picking and choosing is no longer an option (at least not for me). I rarely see a job in my categories, that offer what I charge hourly or per word, which was not the case a couple of years ago.  I have been fortunate enough to have outside clients, but as always, in freelancing one has to keep hustling.  It's a precarious business. 

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You just triggered a Rick Ross flashback

[jenniferhead]

Precisely. This is exaclty the issue that I'm having. I've started to branch out into other platforms (Kolabtree, FlexJobs, etc.), as well as building my website off the platform and investing in advertising. 

I've also started taking courses on Coursera to broaden my skill set. Best of luck to you!

[hglewis]

Hello Jennifer,

You mentioned:

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Jennifer H wrote:

Precisely. This is exaclty the issue that I'm having. I've started to branch out into other platforms (Kolabtree, FlexJobs, etc.), as well as building my website off the platform and investing in advertising. 

I've also started taking courses on Coursera to broaden my skill set. Best of luck to you!

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When it comes to advertising, be ruthless in this area. Insist that the results must generate warm leads or sales for your business. Anything less than that eats into your profits.

You will discover that many will promise these results or those results. However, as a business owner,  the only sure-fire way to know if your advertising dollar is well spent, you must test and measure, test and measure, and continue testing and measuring your advertising until you find the medium that generates leads or sales consistently.

When you uncover a marketing or advertising method that is not working or generating at least a 5.1 ratio immediately discontinue using it. 

To your success!

[hglewis]

Hello Jennifer,

It's clear you are passionate about your skills as I am mine. I would venture to say most freelancers would agree they too have that same deep commitment.

However, the buyer, a.k.a. client/customer/decision-maker, will never have that same view as you or I do about our abilities and fees. 

I'm reminded of this old business saying, "The buyer says, "It is too much!" But goes away gloating."

There is no amount of education or skills either of us can and will accumulate that supersedes what clients are willing to pay or the value they place on them. 

Do I like that? Of course not. But that is business 101.

I do applaud you for branching out.

I've probably spent in access of $100,000 over the past 30 years to keep my skills honed and look for other revenue streams.

Sadly, many freelancers don't realize a day is coming, and their current skills will not be enough to keep them afloat.

However, if you are a forward-thinking individual, which I believe you are, you'll never rest on your laurels.

Best of luck to you!

[jenniferhead]

Woodrow,

Thank you so much for this helpful feedback and perspective! I guess my instincts to branch out were not so bad. So far, it's been fun and productive. I've started branching out into market research, data viz, and pitch decks. Gotta keep hustling!

Best of luck to you as well!