Categorised | Business & Finance

Why Setting Up A Freelance Marketplace Is A Great Business Venture

 

Online marketplaces are everywhere these days. And if you’re looking for a way to implement a business that goes global, and you’re stuck for an idea, the freelance marketplace can be a very profitable, but also helpful, venture. So, why is this, and what do you need to set this up appropriately? 

The Explosion Of The Freelance Market

As a sustainable business model, making the most of freelance workers has never been more lucrative. So many people are looking to forge their own path in life, and as such, the freelance way appears to be the only way. But there are plenty of sites that provide this, and many entrepreneurs and CEOs are looking at their own niche. Nancy Welsh, the co-founder of iBUILD, developed it as a marketplace for the affordable housing market. And this model works by connecting architects and builders to other freelance professionals, for a purpose that helps many people out there. As such, this works at capitalising on the freelance market, but also for a purpose the benefits the planet and the public. From a charitable perspective, this is quite ingenious. So take inspiration from these types of companies, but also find your own niche.

Analysing The Market

Any freelance marketplaces incredibly competitive, and when you have found your niche, it’s important to look at the marketplace to see if you are adding another business into an already crowded arena. But also, by conducting a market analysis, you can find the best ways to make your product stand out. The best way to do it is to find the problems many freelancers have and find a way to generate interest. Perhaps something like the arts, which is notoriously underfunded, can mean that if you have a sustainable business model that can help freelancers out, either by providing a working space for them to develop ideas, or to establish a collective that means that all sorts of creatives work together for skills swaps, you could find yourself with a beneficial business model.

Implementing The Business

It’s all about prototyping and establishing the brand early on in the process. As a freelance marketplace can get big quick, the best thing for you to do is to start small. That way, the whole process can be manageable, but also, if you need extra help, you can keep it close. It’s a notoriously difficult journey to get a business up and running, but when we find our feet, that way we can make appropriate changes to the model, so that others benefit, not just us.

Finding a way to help freelancers find work can mean you are inundated with requests. And it’s a very saturated marketplace, but by finding your niche, and taking baby steps, it can be a very profitable business venture. After all, as there are more people looking to gain control over their lives, and shun the standard working week, what can you provide for these people that will keep coming back to you? And as these marketplaces are pretty much everywhere, as soon as you develop your own place in the market, this could be your ticket to business independence.

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