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PART 6 - Go To Part 1
How To Go From No Job To Your Own Business For Under $300 Getting Started
(Part 6)
What To Expect From Working Online With Elance
Advantages:
The advantages to working with Elance are numerous. There are few other avenues available to work with people all over the world to provide such valuable and unique services.
Own your own business - One of the most prominent advantages to working on Elance is the ability to own and operate your business as opposed to being an employee of someone else's. There are no clocks to punch or orders to take, just an agreement to offer a valuable service between two business people. There is a great sense of pride and freedom when it comes to making life decisions at your discretion instead of having them mandated by an outside source.
Work from home - With Elance, you truly have the opportunity to work from the comfort of your own home. Not only does this reduce commuting costs, but also general stress and unnecessary hassle. You can get up in the morning, drink a cup of coffee and look over your assignments for the day if you work from home.
Less effort - a lot of the work is done for you, as Elance has systems and processes in place to make your administration and business activity run smoothly without you having to set it all up from scratch.
Disadvantages:
While Elance affords an incredible opportunity, it is not without its disadvantages as well.
Fees - Elance charges service providers a fee for all transactions that take place within its marketplace. This amount is between 6.75% and 8.75%. This amount is in addition to the monthly service fee you pay to place bids initially.
Competition - The same factors that make Elance appealing also make it very competitive. There are hundreds of other service providers vying for the same projects, day in and day out. Many of these providers are in countries with depressed economies, which allow them to severely underbid the competition. Some employers avoid hiring "cheap labor" and, instead, go for providers in more developed countries, however, many prefer the bottom-dollar dealer.
Getting started - Perhaps the #1 hurdle to overcome in starting a business on Elance is getting it going initially. Without any feedback, some employers are hesitant to hire you. Until you really become comfortable in dealing on Elance, it may be difficult and disheartening waiting for the bids to be awarded. However, once you get over this initial obstacle, the more positive feedback you get, the easier it becomes to make a real income.
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