Episode #2 | Hiring Freelancers, Selling to Small Retailers, Web Site Sponsorships
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Show Overview
This week’s episode focused on a number of small business issues that many people are facing; how and where to find good freelance workers, how to sell to small retailers, and where to get Web site sponsors for online businesses.
Show Notes
Hiring Freelancers
I’m working on a project that I hope one day to monetize. The problem is I’m employed full time and really don’t have the time resources to get the site to a point where I feel it’s a quality product. Do you have any idea coders found in places like rentacoder.com have typically impressed / disappointed. With my own skill set I might get the site to the level I want – but it’ll take way too long. Also – do you have any good suggestions for local (USA) coders (php, mysql, wordpress) and logo / graphic artists?
(question by Kevin Epstein)
I really love the fact that you’re seeking to get assistance from an expert. Even if you can do it yourself, it doesn’t mean you should. The opportunity cost associated with the time you’re going to spend vs. what you could be doing would often logically dictate that a pro will ultimately be less expensive.
As far as having luck with various freelance sites, the answer is yes! I’ve personally had fantastic luck with several folks that I found via eLance.com. Whether you’re looking to get hired or hire someone else, here are 8 sites you should definitely check out:
- Elance.com – One of the largest freelance sites around. Membership accounts range from FREE to $39.95/month for large businesses. Elance charges a service fee of between 6.75 % – 8.75 % for paid jobs.
- RentACoder.com – Claims to have over 200,000 registered members, and over 2,500 active jobs (as of the day I published this).
- GetACoder.com – Large list of jobs available with commissions comparable to the other services listed here.
- GetAFreelancer.com – Most projects seem to range from $500-$1,000, with the company charging a commission for paid jobs.
- Guru.com – Claims to be the largest freelance site out there. Guru offers FREE, as well as paid, memberships that range from $29.95 to $99.95 per quarter. Guru takes 5 % – 10 % commission.
- ScriptLance.com – ScriptLance is FREE but charges 5% commission.
- iFreelance – Membership levels vary between $4 – $7/month but that is all you pay. iFreelance doesn’t charge a commission.
- ProBlogger’s Job Board – pretty much nothing but jobs for writers or bloggers.
The real key here, is to write a fairly comprehensive description of exactly what you want built. The more detailed you can be, the better your chances of success. You’ll likely get 10-20 bids on your work, so look through the portfolios and make sure you find someone who you feel comfortable working with. I really recommend sticking to the sites that also allow service providers to be rated. Just like eBay, you know how their previous customers felt about the work they did for them.
Selling Products to Small Retail Outlets
When selling local products to small retail outlets, what is the best way to approach the business? Should you just ‘drop in’ or should you call first to schedule time with the owner/manager? (question from Glenn)
When it comes to selling to local vendors:
- I’m not a fan of dropping by unannounced. It doesn’t show much respect for the owner’s time.
- I would recommend a brief phone call, letter or e-mail to introduce your products first.
- Be creative! Send a sample of the product to the owner with a hand written letter.
- Focus on the reasons that you think your product will be appropriate for the business
- Don’t tell them what YOU want, instead focus on how you can help THEM achieve their goals
Sponsorships & Business Structure
Starting video podcast Peeling Back the Onion. I would like to know how to get Sponsors, should I form a corp?
(question by Gary)
First of all, if you are serious about forming a business you are going to need to establish a formal company. A sole proprietorship or an LLC would be an appropriate structure. We’ll have another show all about selecting the proper business structure in the next few weeks.
The simplest answer regarding attracting sponsors is, bring the “eyeballs”. Sponsors are looking for two different things:
- Exposure. How many people are going to hear about their offering. If it’s a small number, their opportunity cost is that they could have advertised elsewhere and gotten greater exposure.
- Return on Investment. I don’t care how many people simply see my advertisement, I ultimately care how many people actually take action on my offer. Sign up for service, purchase a product, etc.
New podcasts and Web sites are going to have no audience to attract sponsors for months. So, the real question is how do you intend to invest in your business to grow your reach? You are going to need, on average, thousands of visitors or subscribers per day to make even a moderate amount of money.
You’ve heard the saying, “you have to spend money to make money“? Well, starting a successful podcast or Web site is going to take an investment in time and money before you see ROI.
Having said all that, if you’re interested in getting some advertising on your site before anyone wants to actually sponsor it, affiliate programs are the way to go.
- Commission Junction
- Amazon Associates
- Google search for Affiliate Programs
Website Advertising
What are some free methods to advertise my website on the Internet?
(question by @rickmitchell99)
Well, there is more to driving traffic on your site than advertising – free or paid. I wrote an article last year called 45 Ways to Power Up Your Blog which has many tips that are appropriate for normal web sites as well, so I’m going to refer you to that article for a lot more tips.
Having said that, today the simplest free method of self promotion is to take advantage of all of the most popular social media sites.
And keep an eye on how you are doing by using Woopra to monitor your Web site’s inbound traffic.
You need to be providing content that is interesting and different, and if you post your updates and changes to these mediums (without seeming spammy) you can quickly develop a healthy stream of traffic. Most people I know only concentrate on one or two of these sites and still get a lot of good traffic, so the more time you’re willing to devote to it, the better.
** Image courtesy of EJP Photo. Thanks! **
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Loved the podcast. You guys blend well together.
On the subject of doing something you love, I have an example where I “slightly” disagree.
I have a friend who is the best air-brush artist I’ve ever seen. He absolutely loves it. A few years ago he decided to try making a living at it and he did very well. After about a year he quit. When i asked him why he said “The moment it became a job, I stopped loving what i do”.
If you have the chance to make money at what you love, certainly try and see how it goes, but never let it kill the love you had in the first place.
I am really enjoying Wealth Nation so far. It is right up my alley, because I have been toying with the idea of developing a business/website for a long time now. I will most likely be calling in one week to ask some questions!
Great job guys! I really like the show notes too and how you revisit the users questions.
Thanks for the great episode. I am trying to start a podcast as well and you gave me some good pointers. I also appreciated the freelancing links. Those will come in handy.
the “The Podcast” link on this page points to Episode #1 instead of #2. please fix. thx.
[http://wealthnation.fm/episodes/episode-2-hiring-freelancers-selling-to-small-retailers-web-site-sponsorships/]
i subscribe thru i-tunes, but listen from the webpage when in the office.
-marshall
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