Is Upwork a Good Way To Make Money? TIPS & TRICKS

Freelancers want to make money on Upwork and often ask whether Upwork is a good platform for earning.

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The short answer is Yes. Here is how to ensure you're earning and constantly growing your freelance business on Upwork and achieving your goals, whether those goals are a little extra money for the weekend or a full-time income and beyond.

Once your profile is approved, you're ready to start making money on Upwork. But like every business, it takes a combination of both effort and strategy. Upwork has been around for years, I started using it when it was called Elance in 2001, then oDesk, and now Upwork. This platform has been a great source of fixed price and hourly rate projects and an easy way to find potential clients, work on Upwork, and get paid.

How to make money on Upwork
The simple act of getting started on Upwork is the beginning of your freelance career. Upwork is the client's search engine for finding freelancers; ensuring you stand out to clients is crucial to finding jobs.

Many freelancers have difficulty finding work on the freelancing platform, and numerous other freelancers are always trying to get hired. Upwork offers an excellent platform for clients looking to hire, which makes it a great place to find freelance work.

Outbound sales versus Inbound sales on the Upwork platform
There are two processes to make money on Upwork, the first is Outbound sales which is the most common, and is most simply defined as you, the freelancer, contacting the client in hopes of a sale. The second and most lucrative is Inbound sales, when clients find you and request you send them a quote for your services.

You want to ensure you get to the point where you receive Inbound sales as quickly as possible. The reason is that Inbound sales significantly reduce your workload as a salesperson. So make sure your freelance profile is 100% complete, you have the Specialized profiles setup, ad an entire project catalog, and are active on the Upwork platform. All help you get found, then hired.

The Outbound sales process on the Upwork platform:
• Find work using the job search
• Refine your search based on your preferences
• Submit a proposal to the client
• Get hired for the project

The Inbound sales process on the Upwork platform:
• Get found by clients by writing a great profile
• Receive an invite to the project
• Respond to the invite with a proposal
• Get hired for the project

Your profile acts as your cover letter, except it serves multiple purposes, the first is to convince the customer that you are the one for the job (Outbound sales), but primarily it acts as a way to be found (Inbound sales).

The key you are looking for in with your Upwork profile is to be found, so use all of the 5,000 words on each of your Main and Specialized Profiles to ensure your best chance at success.

Defining your Goals for earning money on Upwork
When you aim to make money on Upwork, it is vital to set an initial goal of whether you want to maximize your income or your time. Every freelancer has their own goals, and I hope to help you define them to help give you direction when applying for jobs.

These goals can change as often as you would like, but it is a best practice to choose one to start, achieve the goal, and make adjustments as your life circumstances warrant.

Most of my freelance coaching students have a particular income in mind, usually $100,000/year. This is a great barometer for financial success and gets you into the six-figure club we all hear so much of on social media.

How much money do you want to make Freelancing?
Upwork makes it easy to earn money regularly. If your focus is mainly on achieving a particular income per week or year, it is essential to set an achievable goal, then once that goal is reached, expand from there.

PRO TIP: One way to achieve high financial success is to quickly reduce your overall rates and onboard new clients. As you max out your workload, you simply increase your rates for new clients. You repeat this over and over, and eventually, you can earn well over $100/hour, making your $100,000/year goal easily achieved.

I have found that if I get near the 100 hours per week of work range, I get burned out quickly if I don't make earning money my sole priority. We all have choices, and focusing on financial achievement is perfectly fine. You hear "hustle culture" vilified on social media as something terrible, but this depends on your perspective.

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