Is It Feasible to EARN $1,000 per Month as a Freelancer on Elance?

Introduction

Earning $1,000 per month as a freelancer on Elance is indeed achievable, especially if you have the right skills, a strategic approach, and a mix of clients. In my experience, I consistently earn more than $1,000 per month using Elance, among other platforms. My Elance profile can give you an idea of my earnings and the type of work I do. However, achieving such income demands a strategic mindset and a commitment to continual learning.

Understanding the Market

To thrive in the freelancing world, it's essential to have a clear understanding of the market demands and competition. For starters, Elance is not the only source for your clients. Many freelancers have multiple income streams, such as a personal blog that attracts clients and income. Here, I will break down the factors that can help you earn $1,000 per month on Elance.

Multiplicity of Skills and Niches

The world of freelancing is vast, encompassing a variety of expertise. For instance, WordPress development, design, and coding can open up numerous opportunities, but it's important to recognize that competition is fierce. When you specialize in a particular area, such as SEO-friendly WordPress templates, you balance the price competitiveness and the potential for higher earnings.

Another example is landing page design and copywriting. These services can be lucrative, but you need to adapt to the specific requirements of different clients. The success of your work often depends on your ability to deliver what the client needs, on time, and within budget.

Strategic Targets and Realistic Goals

Let's consider an example to illustrate the feasibility of earning $1,000 per month. If you were to win a Wordpress design job in a competitive bidding environment, you might find yourself bidding as low as $100 for an SEO-friendly WordPress template. To reach the $1,000 mark, you would need to secure at least 11 jobs per month, considering Elance fees and various other expenses.

This is a significant task, given that you have to balance multiple clients, manage their requirements, and deliver quality work within a limited timeframe. However, moving to more complex tasks, such as CakePHP or Ruby on Rails development, can help you overcome this hurdle.

In general, earning $1,000 per month as a freelancer on Elance is achievable if you are skilled, mindful of the market, and willing to undertake a diverse workload. The key is to diversify your skill set and explore various niches to find the best opportunities.

Personal Savings and Outcomes

Another important factor to consider is your personal financial goals. While $5,000 is a significant sum, it's not necessarily a weekly or monthly requirement, unless you plan to hire someone to handle the jobs. Think about the impact of hiring freelancers, as it can add to your overall expenses and reduce your net income.

If you plan to hire someone to get the jobs done, acquiring experience and building a strong portfolio is crucial. Frequent job applications may take some time to land your first assignment, but the effort will pay off in the long run. Each assignment you secure is a step towards becoming a more experienced and highly sought-after freelancer.

Conclusion

Compared to the aspiration of making $1,000 per month, achieving such income through freelancing on Elance is certainly feasible. It requires a strategic approach, a diversified skill set, and the willingness to jump from one project to another. If you can effectively manage your workload and maintain a competitive edge, you can indeed earn $1,000 per month and potentially more.

My Elance Profile for Reference

You can explore my Elance profile for more insights into my work and earnings. It will give you a clearer picture of what is possible and help you set realistic goals for your freelancing journey.