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The Freelance Economy Is Booming. But Is It Good Business?

by Joe Mobley
5 replies
'We serve the world'
The U.S. has the greatest number of Elancers, with nearly 716,000. India is second, with more than 359,000; Pakistan is third, with more than 113,000; and the Philippines are fourth, with more than 89,000.

Such rock-bottom prices are de rigeur among freelancers in emerging economies such as Pakistan and Bangladesh. Feinkind has turned to Third World contractors for furniture blueprints, among other things. "Where I was paying $500 for factory drawings in the U.S., now I'm paying $50," he says. "For businesses, I think it's fantastic. I'm getting great work at a fraction of the cost [of American labor]."

HourlyNerd limits its pool of freelancers to MBA students and graduates of the top 20 U.S. business schools. More than 1,000 MBAs have signed up so far, and they are averaging $20 to $50 an hour
Reluctant freelancers
Elance's annual report for 2013 is chock full of upbeat Elancer testimonials. But Rosati acknowledges that some freelancers "would prefer full-time employment if the right employment opportunity were available.
The working world continues to evolve.

The Freelance Economy Is Booming. But Is It Good Business? | Entrepreneur.com

Joe Mobley
#booming #business #economy #freelance #good
  • Profile picture of the author drem
    Thank you for sharing this. It can be very difficult for a person to stick to a respectable wage when freelancing. I think a lot of freelancers undervalue their expertise and will try to lower their prices to that of those living in other countries. What may be a livable wage in India may not be a livable wage in America.

    If you have a skill, be persistent and really look for quality clients that will pay for your knowledge and expertise. I think the worst thing that can be done is undervaluing yourself from the very beginning.
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  • Profile picture of the author Fazal Mayar
    It would be good to have a portfolio for freelancing so you charge more. Freelancing can be good.
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  • Profile picture of the author brettb
    Did a lot of work on oDesk last month. Trouble is the client fired me (actually I quit first) because I charged too much.

    So my options were:

    1. Charge a low amount and work a whole month for $200.

    2. Charge a lot and risk losing the client.

    In the end I chose to walk away - there are always more jobs out there.
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  • Profile picture of the author Nytshade
    It's hard labor, I would rather be the one doing the paying
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  • Profile picture of the author katequinn1983
    Banned
    Working as a freelancer is not as easy as it seems. You need a lot of patience and time to accomplish your jobs. More than that, your work is not paid as it should be at the begining and you need a lot of self-determination to continue. But, once you gain experience, your earnings can increase considerably.
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