What are Freelance Services?
Freelance Service websites like Upwork and Fivver are now incredibly common. They allow companies access to a global talent marketplace in searching for employees, be it part-time or full-time, that can fulfill their needs. Freelance Service websites are great for small businesses with a small or niche need but start to become challenging at scale.
Services covered:
- Talent Marketplace
Strengths:
- Access to Global Freelance Service Talent
- Easy and cost effective at small scale
- Ability to start at small scale
Weaknesses:
- Lack of visibility and control
- How do you know if the person you hired is working or performing? Are they helping multiple clients with different accounts?
- Compliance
- No one is ensuring that your employee is keeping up with local tax laws or compliance.
- IT Support
- If black outs or outages occur, no support is provided to get your employee back online.
- High Management Cost
- How much is your time worth? $100/hr? $1000/hr? Ultimately, you are wholly responsible for the management of the employee, thus you own the management cost.
- Turnover risk
- In this model, it is difficult to retain employees. In a freelance marketplace, employees can bounce around to different clients and jobs whenever they see fit.
Read more on why a Remote Virtual Assistant or Freelance Service business model can work for you in our previously published article.
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