Upwork is a large platform that connects people with different skills and talents. It helps people to actualise their dreams by assisting them in getting started. The platform works diversely. It allows individuals who need people to assist them in getting a task done. It provides means for them to view the profile of many people ready to sell their service, and they hire who they want. It also allows freelancers to work and earn in all ways possible. Joining Upwork is free to all users.
Similarly, Fiverr is an online place for marketers, and it allows people to offer their freelancing services. This also works in different ways; it permits buyers to get access to sellers. The buyer pays for the service on offer. If you are on the platform, you are either a freelancer or a buyer. Freelancing has become a primary profession for many people who desire a side hustle to support their primary business.
As we can see from above, the two platforms are a broad market that offers a series of professional skills. In today’s post, we shall be considering why the platform is a good investment option to consider.
Upwork and Fiverr are freelancing platforms. If you follow the network space, you will realise that the freelancing platforms are booming. This is because people are getting more interested in working from home. So many people are going forward to quit their 9-5 to become a freelancer. Before you consider where to invest, you may need to consider Upwork and Fiverr. They are the most popular freelancing sites where freelancers register and sell their skills for a specific range.
For example, Fiverr is secure, and they make provision for freelancers to manage their tasks. They achieved this through back-office software. The platform is also a means for people to learn while they earn simultaneously. Fiverr and Upwork is an extensive marketing place for buying and selling digital services. Over time, the platform keeps getting better, and both the sellers and buyers can achieve their goals.
The two platforms have a stock which could be a good investment. If you are looking for a way to diversify your portfolio, you can choose one from the freelancing platforms. Upwork and Fiverr have a sizable digital space, and they are growing as the days go by. The global platforms connect people who need digital services to those who have the service to offer.
The world is now digitalised. People will continue to need digital services. These services include; website design, graphics design, content writing, eBook writing and more. Undoubtedly, the market will continue to increase, and there will be more opportunities to generate revenue. It is an excellent time to consider these companies that promote digital service. The two most popular freelancing companies are making a significant move in the digital economy.
During the pandemic, the situation caused many people to lose their jobs, and they had nowhere to turn. Their saving grace was these freelancing platforms. With a long-term view in mind, the freelancing sites will keep gaining more revenue. Many firms in need of digital service always turn to one of these sites because the sites are digital platforms focused on delivering quality service.
Once a client posts the request that they need a particular service, they begin to get a series of proposals to choose from. The choice of who to work with depends on the client. Most clients check the ratings of freelancers and make a choice. Once an agreement is reached between the seller and client, payment will be made on the site. Upwork, for instance, pays its freelancers through PayPal or bank transfer, which is done weekly.
A study has shown that as of last year, the share of Upwork is priced at $45.87. Therefore, $5.855 billion in market capitalisation. Like every other company stock, the stock of freelancing platforms also fluctuates, but this doesn’t make it a bad investment option. To get access to Upwork shares, the stock exchange market is the best place to visit. There are many institutions through which you can purchase stocks.
The freelancing platform makes its money by charging a rate from the payment made by the contractors or clients. Freelancers who need networking or relationships with clients can pay for additional connections. Every business platform has a business model through which they operate. The freelancing industry is not an exemption. Upwork was initially the outcome of merging Elance and oDesk in 2013. However, it officially became Upwork after they re-branded in 2015. Afterwards, they became listed on the Nasdaq stock exchange two years later.
As a freelancer on any of the sites, there will be a need for you to upload a profile picture of yourself. Other requirements include; skills, education, hourly rate charge and additional certifications. Once all these are completed, a freelancer will be able to send his proposals for jobs of interest. Once there is a need to begin a project, both the client and freelancer will meet in the workplace provided for conversation and exchange of files. This makes it easier for them to share and receive feedback and other strictly work-related files.
Whichever investment option you make, ensure it is a good one. Be patient with your investment option and think only long-term. Even when there is volatility, it should not bother you, and it will last for only a short period. Trust your choice and be disciplined. These are the fundamentals of all investments. The goal of investment is to grow wealth, and that’s the ultimate goal.
What do you think about the volatility of freelancing sites? Is it an investment you can make? Let us know in the section below. Don’t forget to like, share and signup to our newsletter for more updates. Kindly check out also our previous post on “5 secrets to being a successful investor“.
Recommended books for further reading:
- Rich Dad’s Guide to Investing: What the Rich Invest in, That the Poor and the Middle Class Do Not!
- Smarter Investing: Simpler Decisions for Better Results
- The Barefoot Investor: The Only Money Guide You’ll Ever Need
- The Five Rules Successful Stock Investing: Morningstar’s Guide to Building Wealth and Winning in the Market
- The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Little Books. Big Profits
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