Do you know that you can make huge profit selling the services provided by other people? If you are a smart person with defined online money making goals, you can profit from other people’s work. The benefits of this business model include:
The underlying principle of this business method is you create a platform where people give you jobs and you outsource it to professionals. You can decide to start your own website or use established websites to do your business. But if you really want to make a wide profit margin and look professional, it is better you start your own website where people can request for the services you are offering.
First Thing First
To start with, you must have a service that you want to sell, one that gets regular demand and which there is sufficient supply of professional to do the job. You are just the middleman. You can see that this business does not require your own labor nor does it require you to start promoting someone else’s physical product. Building your own website gives you more control over the business and more so, you are growing your own business and not another man’s. Examples of niches you can venture into include academic writing, essay writing, article writing, proofreading, language translation, and a host of other services. You should choose a niche that you are comfortable with and which you can easily fulfill clients’ demands.
Find service providers
Before you start getting jobs, make sure you know where and how to source contract service providers for whatever service you want to sell. If you know someone offline that can expertly deliver your services, you can have them on your team. However, there are hundreds of thousands of freelance professionals online who you can contact anytime you have jobs. The best way forward is to gather a team of freelance people so that if one is not available for work, another will. You can go to sites such as Upwork, Fiverr, Freelancer, Indeed, etc to contract people to execute your services. You should ensure you screen them properly before handling them client’s job. You can give them test or samples to complete in order to evaluate their quality.
Get clients: Market your business
Promote your website using every available channel, especially those focusing on your target audience. If for example you are specializing in helping students with their assignments, you need to target online places where students meet and discuss. Devise marketing methods that bring high-end clients. That’s where your profit lies.
Anytime a client gives you job on your site, make a quote that includes the fees of the freelancer and your own profit. Once payment is made, forward the job to the contracted professional and have him or her deliver the job within agreed deadline. Send the finished job to the client, pay your freelancer and keep the profit. It’s that simple. If you can continuously deliver premium quality to your clients, you will get referrals and sure have more jobs.
Automate the process
If one of your goals is to get passive income, then you should refine your methods. Automate the whole process; develop a pricing model on your services, hire an assistant to handle transactions and streamline your services.
The truth is there is no limit to how much you can make from this business if you are really serious with it. Just ensure you have it all worked out before venturing into it. Not only will you be making immediate profits, but also building an asset which you can sell off later in the future should your interest shift.