Can You Build a Million-Dollar Business Starting With Just $100 on Fiverr? Here's a Plan to Do Just That.
If you’re building or starting a business, then Fiverr is an excellent resource to get some of the time-consuming work done. For those unfamiliar with the website, it is a marketplace where people can buy and sell services. What makes it different from its competitors is that gigs can start as low as $5. From there, price points go up based on experience, value and any additional extras the seller may offer.
I’m a big fan of Fiverr, so much so that we’ve partnered with them on my Entrepreneur-hosted podcast that can be found here. And, as partners, they’re providing all of my readers and listeners 10% off with our promo code AA.
Fiverr’s platform revolves primarily around “gigs,” meaning that the services sold are typically a one-time job; however, the website also offers the opportunity to create “milestone” deliveries, meaning that you could retain a Fiverr seller for multiple projects or steps of a larger project.
I’m in the process of documenting how I’ve been building six and seven-figure businesses with Fiverr and am going to release a book by end of the year with all of the data, cheat codes and tricks. (Signup to be notified here.) In the meantime, here is a breakdown of some of the important things I've learned.
The most valuable gigs to build a business with Fiverr
The most useful gigs on Fiverr offer a wide range of sellers who can provide you with the price point and experience level that you’re looking for. The following services are some of the best to buy if you’re looking to build your business:
1. Market research
If you’re making your way into a new market, it’s smart to know what that market holds, including competitor research, trends and customer segmentation.
2. Business plans
While you may not be able to buy a comprehensive business plan for $5, you can still get an affordable one written for you by an experienced seller. Be sure to look at reviews, because a lot rests on your business plan and how it’s presented to investors. You want to choose a seller offering a plan that includes:
A market analysis summary
A comprehensive executive summary
What makes you competitive
3. Logo design
You can get a logo designed specifically for your business for a very low cost.
4. Business cards
Business cards are all about making a good first impression. You can get high-quality, customized cards built for your business.
5. Web content and design
A website is necessary for the success of every business. You can find content creators who can describe your business and services well and with a word-count or page-based cost that won’t break the bank. You can also find someone who does affordable web design if you don’t want to rely on ready-made templates.
6. Virtual assistants
If you have an entire range of tasks that need to be done, you can go ahead and hire your online assistant through Fiverr. You can find an hourly or task-based rate that will cover those tedious tasks you don’t want to do, or can’t do, yourself.
If you’re unsure of what gigs you want to buy to optimize your business, consider outsourcing tasks that are both time-consuming and low-value to you, meaning work that keeps you busy but that you aren’t able to prioritize yourself.
How to make your first purchase on Fiverr a successful one
1. Communicate well with the seller.
While some buyers place an order without first discussing the gig with the seller, it’s better to message the provider first. This is particularly true if your order is unique.
2. Answer all questions in the order requirements.
Even if you’ve already talked with the seller, placing the information within the order requirements makes it easier for the seller to reference your needs while working on the order.
3. Provide resources, websites or examples of what you want your project to look like.
You can provide links to competitors or samples of successful projects that you or someone else completed in the past.
4. Allow the seller to ask questions.
Sellers only have the information that you provided. While to you it may seem like enough, it might not be for them. Make sure they’re comfortable clarifying any necessary information.
5. Be safe.
If you need to give sellers any confidential or sensitive information, be sure that you have a safety plan in place. You can use an app like LastPass to manage access to your information and remove them as needed.
Use this 5-step formula to find the best talent
- Search for your gig.
- Sort by the bestselling service providers for that gig.
- Find the top 5 service providers that have the most ratings.
- Sort by the providers that are online.
- Reach out.
For entrepreneurs, time is your most valuable resource. I believe this makes Fiverr an invaluable tool for new and emerging entrepreneurs. Again, get an additional 10% off using my podcast promo code AA. Get you some!