fbpx

How To Create Passive Income Making Websites With Fiverr Service Arbitrage

A few of us took some interest in the freelancing site Fiverr this week without having a plan down to use it and after my previous post of cold calling and Whitelisting arbitrage. In this post, I we’re going to go down to its most minimal actionable level. Brace yourselves, because this entire post is spoon-feeding you exactly what you need to to make passive income via Fiverr Service Arbitrage -a fancy phrase to mean paying someone else to work for you over a cheap freelancer website.

I made a lot of mistakes in Fiverr, whitelisting, outsourcing, and purchasing freelancing work. You’ll learn from my mistakes so you can save a year long struggle of getting things right.

fiverr-service-arbitrage
My Expenses for a Year by Fiverr Service Arbitrage

This post is split into four parts, each with their own segment. I ask that if you’ve gotten value from this post to say so below in the comments.

0. SCOPE OF THE WORK & REQUIREMENTS

Fiverr Service Arbitrage can be done can be completely hands off. Depending on your experience on WordPress and your hustle, it does not matter what your level of expertise is for this website builder. Depending on your skill set, you will be outsourcing work to developers for web design services which is completely scale-able. You can assemble a team of people who will spend a few hours to complete their part and profit the rest.

At the end of the day, you will be able to create a website with the core pages a basic site needs as you hand off the website to your client. Given everything you do is based off the work of an individual on Fiverr, charging $250 for the design will net you $200 in profit. If you offer a five-page website, the cost and revenue breakdown is as follows:

  • Spend $5 a week for local Craigslist ads in an effort to get a payment of $250 to start the project.
  • Next, you’ll spend 2-4 hours with the client collecting all the needed details for the site.
  • You will earn $65 off a BlueHost affiliate purchase when you tell your client to purchase a domain and hosting via BlueHost.
  • To Install WordPress, you can either use EasyEngine.io to rapidly start using it OR pay someone $20 to install WordPress and a good looking premium theme (2 hours of their time or 5 minutes via installing via EasyEngine.io)
  • For $30, you pay someone to fill out the rest of the core pages that you negotiated for the basic website:
    • A home page
    • An about us page
    • A contact us page
    • A product/service page
    • A privacy policy page
      • Any additional pages you can up-sell for $50 per page while charging $5 or $10 for a 1k word article on a website.

At this point, you will have your client’s website completed and will have paid $50 in labor. At this point you deliver the website back to the client. Once you deliver, you need to be front and center explaining what the website has. At this point, the client is eager to get started. Explanation might take an hour and an hour of ‘support’ such as answering questions such as, “What’s my password again?” and “Where’s the Admin Page?”

That is the scope and high level summary of what the rest of the post will touch on. Now, on to the details!

1. COPYWRITING AND CRAIGSLIST

Copywriting is the art of marketing aimed towards creating a sale through the written word. It is also a numbers game. I welcome you to post this SAME ad and see where that gets you – you can also purchase a virtual assistant who can post twice every day to your Craigslist account but you will find the same level of success by offering this to your friends and family off Facebook.

Contact EVERY single person, and show them this ad. You could press urgency and say that you’re looking to get a client this week; otherwise, at the end of the week,  you would bump it up to $500. I’ve had cases where someone was told that, beat around the bush, and paid an extra $250 as a “hesitation tax”.

craigslist-webdesign-service-arbitrage

Get a SEO Optimized Website made for $250 right here in Minneapolis!

WordPress websites made for you right here in Minneapolis!
  • Flat $250 fee for full website setup (if you order before 2017)
  • 24 hour turnaround time.
  • Will go through full setup with you, or do it for you.
  • Will show you how to edit the website.
  • Expert in setting up bootstrap templates
  • Free Consultation for copywriting or marketing ideas
  • Portfolio of my work: www.jakegosskuehn.com

Call/Text Jake to start: *Phone Number Here*

do NOT contact me with unsolicited services or offers

With your ad in hand, clients will contact you. Now, on to dealing with the client!

2. CONNECTING WITH THE CLIENT

Now, let’s say you actually got someone interested. It’s time to get them to agree to give you $250 of their hard earned money. This is a question-based methodology that helps cement your position as someone who can genuinely help them.

Here’s how the story goes. You get a trickle of inquiries once or twice a day if you’re really good or one a week if you’re only posting ads.

For each one you follow the following mindset: you establish yourself as a salesman and an expert before offering your solution and price. First, you need to establish credibility. To show you know the market, ask them STATUS questions where it’s a one word answer to qualify them and understand where they’re at.

Status Questions

Is getting more customers through placing your page on the first page of Google something that you are interested in?
Are you currently automating any marketing processes such as a sales funnel or email drip campaign?
Are you using a cheap Apache server host such as BlueHost, Go Daddy, or Host Gator? 
If I can show you a 4-5 ROI based on that marketing sheet, would I be welcomed to show you how that can happen?
Are you currently tracking conversions, if so whats the rate? Whats the average ticket? How many of them are repeat?

Uncover Their Issues

After you ask those, they know that you have some level of competency. The next step is to build rapport while uncovering ISSUES. These are longer form questions where you want them to talk a bit more.

What would you like to accomplish with our services? 
What’s the most significant business issue you currently face with regards to customer acquisition and branding?
What other challenges do you foresee?
To what extent is (getting consistent warm prospects through your website) important to you?
How do you promote through your existing customer base?

You want to keep them talking, and you want to ask this question at least once: “To What Extent Is X Important To You?” This forces them to dive deeper into the issues they may have.

Guide The Prospective Client to the Sale

Now, it’s the time to press them. We’re not telling them that they have a problem. The more forceful you are in your sales pitch will result in a higher defensive state from them. They need to come to the conclusion that they need your services. Let’s guide them towards that through IMPLICATION questions like these.

Have you ever calculated how much money every month your lack of a site is costing in terms of missed opportunities?
Is the core of your business repeat clients or new clients via word of mouth?
How important is getting at least a dozen business citations and reviews every month for your word of mouth?

It’s good to develop 3 implications per issue that they have. For the most part, they might just want a website. Others might want a web store. Maybe they just want to get this done as fast as possible. It might be good to press into each need they have for this by creating a need in their mind.

Close the Sale

After asking the questions above and determining the issues and wants of the prospective client, it’s time for the close. You should be able to just say, “to offer the solution I presented in the ad, I’m asking for $250 if you close by the end of the week.”

If your client is a local business, for the love of god, don’t sell a website for $250. Even though they say they might not be able to afford it, pick up top notch sales book that covers everything in this segment and after reading  you will be able to pitch your $250 services for $2,000 or $3,500.

Don’t think that people would pay that much for a website? This business paid $3,500 and is full of spelling errors. Here’s what you can close with if you want to close a business client. (If it’s a friend or family member will be OK if you just say the first line.)

“So, would it make sense for me to send you an invoice right now so we can [[fix your specific problem]] and build that site?”

“[[Prospect Name]], if this is what you need, we do this, would it make sense to schedule a time to get the appropriate people together in front of a piece of paper to map out your options, the impact on your business, and the associated costs?”
“If money was no object in your decision, what would you do to solve this problem?”
“In your mind, what would the ideal solution to this problem/issue look like?”

Now, once they are close, ask what they need. Most of the time they will give you basic requirements such as I would prefer a certain color or feel. Whatever it is, it is up to you to bring what they want to reality.

3. COMMANDING YOUR FORCES

Great job. You have a client! Now on to making the website through Fiverr Service Arbitrage.

If you have patience, this will be a true test of that. Going on Fiverr.com and finding any virtual assistant to copy and paste an ad can be done. Negotiating $5 for 5 minutes of work a day for a month is possible but international fiverr service arbitrageworkers are interesting to work wit and some can be great.

I’m not sharing my virtual assistant, but creating a request on the site with a description of each stage of your work will bring you 2o to 30 bids. Most of these are one sentences saying “BUY NOW FOR MANY RESULT FAST THANKS” or a variation of how happy I will be.

Thanks to the hiring info from one of our book review posts, you want to filter out people who have the hustle and speak English. The best way to filter through all the people who want to work for you is by adding this sentence to the the ad:

“Start your first sentence of your reply for this job request with Chocolate to be considered for the position”

Install WordPress Job

Anyone browsing in the ‘Install a WordPress’ job requests board already can do WordPress Installs. They’re just looking for bids. Now, those 20 job bids become 2 or even 3. Very easy to look at all and then close a sale.

You need to purchase a gig to Install WordPress. This is done by a technical person and will cost $10 to 20. Some people pirate their designs and don’t use the real deal. Make sure you ask if they have a licence for the theme. If so, then they will show you examples of what they can use. You can also purchase a theme for your client over at a website like themeforest or if you’re really into this you can get an annual license at elegantthemes.com for roughly $89 a year.

You then need to purchase a gig for someone fill out the WordPress Template. This is done by a technical content writer. The pages you have are already made, but you need to go through and finalize it. Telling your content writer of the specifics it just needs 5 pages is really all you really need. Excellently researched articles can be done at $30 per article, but you need someone proficient in English.

4. COMPLETING YOUR CLIENTS WORK

Now your gig is done and you got the site back. It looks great. Your client knows you’re working on it, and now that it’s done, spend some time to double check the website. Test everything. Make sure each button doesn’t go somewhere it’s not supposed to or that there isn’t an extra template page there with sample words left behind in the template.

Once that’s done, ping your client and schedule a time to chat for 15 minutes for a Q/A. This is where you could upsell extra services for $500/month if you had read this sales book. Give them the rundown of what you did. You made 5 pages, and they can login at the WordPress admin page. The default login for a WordPress site looks something like this (this is ours):

wordpress sign in

Login yourself as they would, and tell them how to make a new page. Explain that WordPress is everywhere and that they can easily find help on Google. This is where you can start to up-sell extra features.

You can fix their WordPress problems at 50$/hour. Most people think that’s too steep. If that’s the case, you can bring that $50 an hour down to $50 for gigs where it takes longer than 2 hours and you give them half off the first hour. You can even offer extra page creation for $50 per page. I’ve had people order 100 pages of content deliverable throughout a year where I outsourced every single article.

Conclusion for Using Fiverr Service Arbitrage

Well, there you have it – you now have the exact steps to start practicing Fiverr Service Arbitrage today. Create an free account on Fiverr right now and your first step will be to hire a Virtual Assistant to start posting the same ad above for you. It will cost you $5 or $10 for you to hire someone for a few minutes of their time for 30 days.

Leave a comment below if you think I presented value for you in this post.

Jake

Join the Personal Finance Blogs Newsletter
Get the Best Personal Finance Articles Delivered to Your Inbox Daily



Looking For More than Just Personal Finance Curated Content?
Click the Book Below to See the Daily Feeds.

How Living a Healthy Life Will Improve Your Investment Performance

We have a guest post today from Troy who runs a hedge fund in Austraila and blogs about his historical market research.

Everyone talks about the importance of budgeting and cutting down on expenses with regards to getting wealthy. If you think of your life as a business, adhering to a strict budget is akin to rigorous cost control. While it’s important to not wasting money on non-essentials, I believe that we should try to maximize the “revenue” side of our life instead of minimizing the cost side.

Theoretically speaking, you can only cut the costs side down to $0, while you can increase the revenues side infinitely.investment performance

As you work, save, and invest over the years, your investment income from real estate or stocks will perhaps one day become greater than your income from your full time job.

That being said, what if you aren’t healthy enough to enjoy your investment income!

I want to share with you an aspect of investing many people don’t talk about: physical and mental health. Investing is ultimately a game of decision making. Your health will impact your decision making capabilities. For example, someone who has poor health will probably become easily frustrated in his/her life. This will result in poor decision making skills when things turn sour.

Instead of making a rational decision about whether to sell an asset when the market turns down, the individual might make an irrational decision based on his/her emotions instead. Living a healthy lifestyle via healthy dining and abundant exercise provides many benefits to investors.

Benefits of Being Healthy

A healthy body is a temple for a healthy mind. Scientific studies show that exercise trains your mind to think quicker and analyze situations in more detail. It also improves your memory – you don’t need to waste time on finding studies/research that you’ve done in the past.

Eating delicious, nutritious food makes you happier by releasing hormones called endorphins. People who are happier are also more optimistic in life. Since the stock market goes up more than it goes down, you need to have an optimistic bullish bias if you are to succeed in the stock market. Perma-pessimists inevitably get killed in stocks.

In addition, investing is a long term game. Warren Buffett said you have to treat your body as if it were the only car you have in your lifetime. You need to change the oil frequently, take it to the repair shop, and run it every once in a while (or else the engine will die).

People who live healthier lifestyles live longer than those who don’t. You can just imagine the final difference in wealth between someone who dies at 65 and someone who dies at 85. The person who dies at 85 benefits from an additional 20 years of compounding!

Investing isn’t all about money. The purpose of money is so that you can have a good quality of life. Healthy living isn’t only beneficial for your investment decision skills, it also leads to a markedly improved quality of life.

My Healthy Lifestyle

My lifestyle revolves around 4 tenets.

  1. Eat vegetables/fruits and foods that are high in protein.
  2. Exercise regularly.
  3. Take a lot of mini-vacations.
  4. Wake up early and sleep early.

I recognize that not everyone can follow my lifestyle. Being young and single, I don’t have many of the constraints that other adults have.

I believe in spending modestly but not too modestly. This means I don’t tighten my belt too strictly when it comes to groceries. Although the monetary benefits of having a tight budget are obvious, there is no way to be “cheap” in when trying to live a balanced life and to eat healthy.

Start in the Kitchen

My diet is high on vegetables and protein while low on carbs. In addition, I prefer organic, natural, and low salt foods. I stay away from frozen foods. While a diet rich in carbs such as pasta/bread is definitely cheaper, I don’t eat many carbs because they aren’t the best for me. Here in Sydney, a loaf of wholewheat bread is $3 while a single head of lettuce is $3.50 (Sydney is ridiculously expensive)!

By eating healthy foods I feel better, have more energy, and think more clearly. Sugar-rich foods may provide the body with an immediate boost in energy, but that energy drops precipitously after a few hours. Meanwhile, vegetables and fruits cause energy levels to rise and remain elevated for many hours, after which it declines rather slowly. It is important for an investor to stay sharp at all times.

I find I’m always hungry when I’m investing and working. This is a common problem that many hedge fund managers, traders, and professional investors have (that’s why so many hedge fund managers are overweight).

Eating too many sugary foods or carbs makes you feel bloated and slightly dizzy, thereby worsening your investment decision making skills. That’s why I’ll usually eat fruits while I’m working. Eating while working acts as a good semi-distraction and relieves stress.

While I spend a lot more on groceries than most people, my expenditures are far from extravagant. I cut down on the non-essentials in life to save more money. I don’t eat out (which for a person of my appetite can become ridiculously expensive!)

Another frugal thing I do is I still use an old phone instead of keeping up to date with every iPhone refresh! It’s all a matter of spending the same amount of money but improving your quality of life.

Working Out

In addition, I work out a lot. I lift weights for 50 minutes and run on a treadmill for 20 minutes 5 times a week in my home gym. Science shows that consistent exercise improves your memory and quickens your decision making skills. It also improves your ability to think rationally.

You’ll probably make poor investment decisions after you’ve had a tough day at the office. Working out is a great way to release stress because your body produces more feel-good hormones called endorphins.

Mini-Vacations

I go on a lot of mini-vacations. It doesn’t have to be a big multi-week trip that includes 10+ hour flights (flying to anywhere from Australia takes forever). It might just be a day trip to a remote beach. Getting out in the world has 2 main benefits for investors.

  1. It broadens your view of the world! I have gained so much knowledge that aids my investing. For example, I’ve learned a lot about the economies of different states in the U.S. and different countries just by talking to taxi drivers.
  2. It does miracles to your body. A vacation is a nice break from everyday life. Certain investments decisions are hard to make because there are too many factors to consider. When I come back from vacation, my thinking becomes a lot more focused. Thus I can more easily strip away the factors that don’t matter and focus on the factors that are important to the particular investment.

Early to bed, Early to Rise!

I wake up early and sleep early (I understand this is hard for adults with kids). Certain studies show that the body starts to regenerate after 9 pm and stops regenerating by 5-6am. However, this regeneration occurs at a much faster rate if you’re sleeping during this time. That’s why I usually sleep from 9:30 pm – 5 am.

“Early to bed, early to rise, makes a man healthy, wealthy, and wise!” – Benjamin Franklin

Conclusion

If you are looking to maximize your returns in the stock market, it might be best to supplement your market research with some gym time and time in the kitchen!

Start trying to get to bed a little earlier and you will reap the benefits!

Troy is an investor who shares his thoughts on stocks, commodities and currencies on the web.

Join the Personal Finance Blogs Newsletter
Get the Best Personal Finance Articles Delivered to Your Inbox Daily



Looking For More than Just Personal Finance Curated Content?
Click the Book Below to See the Daily Feeds.