Pros and Cons of Fiverr online $5 dollar business model


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http://jaysoriano.com/fiverr-review/

Fiverr has a very simple concept. People post small jobs, called “gigs,” that they are willing to do for just $5. It sounds small, but what it really provides is a platform to grow from. Buyers like Fiverr because they can get small tasks done quickly and cheaply, there isn’t a large risk and over time they can find dependable freelancers they can turn to for quality work. Sellers can grow their business by offering basic gigs for $5 and offering upgrades and extras for additional money.

Fiverr Pros

  • Clean and clear website design, easy to navigate, easy to use
  • Clear and easy to understand concept
  • Active and fun community with supportive forum
  • Make money doing something you love

The biggest advantage to Fiverr, of course, is making extra money doing something you love. Now, there are a few lucky people out there that have turned their Fiverr.com gigs into a full time job. There is even a recent story of a Fiverr seller who bought a small house exclusively with Fiverr money! It can be done, but of course it takes dedication. More likely though you can use Fiverr as extra income and who wouldn’t love to get paid for a hobby?

Because Fiverr offers basic jobs for a set cost, they attract a fairly decent quality of work. Some freelance sites that allow people to bid very low on jobs attract nothing but low end work that is often plagiarized or automated. Since the job costs are more on a level playing field the quality is a little more level as well.

Fiverr is a very easy website to use and the communication from staff is friendly and conversational. For the most part customer service concerns are handled in a timely mannor although they can get bogged down from time to time and delays can happen. The staff is generally friendly and they follow up to make sure the issue was resolved.

Fiverr Cons

  • 20% revenue sharing with Fiverr, that’s a pretty big fee for them to host your services, other sites do it for less
  • Limited ways to get paid, mostly relies on Paypal with additional fees
  • 14 day hold time on funds
  • Automatically accepts jobs, limited control for sellers

One of the biggest drawbacks to Fiverr is their rating and level system which is highly automated and is too easily skewed by things that are clearly outside of the seller’s control. For instance, if a buyer places five or ten orders on the same day for a service the seller doesn’t provide, or worse something that is illegal or against Fiverr’s rules, the gig gets automatically accepted by the system and the seller is forced to cancel the orders which will most likely cause them to lose their seller level for a period of time. Since the system is automated complaining to customer service will do no good, and the seller will have to wait to complete more good orders to renew their level. Fortunately customer service can do things about erroneous negative feedback and buyer scams, but they can’t do anything to circumvent their own automated leveling system at this time.

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One thought on “Pros and Cons of Fiverr online $5 dollar business model

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