Passive Family Income » oDesk

The One Thing you Should NEVER Outsource

John S. — Wed, 15 Sep 2010 11:23:19 +0000

Over the past few months I have outsourced several small projects related to building passive income streams. So far I have had mixed results with the jobs that I have contracted out. Some of these outsourced jobs include: ghost writing articles for niche sites, optimizing a niche site, keyword research, and a customized Thesis WordPress design.

I hired a virtual assistant to complete several of the tasks by posting jobs on oDesk. On a few other occasions I hired a resource directly, thus bypassing any third party platform like oDesk or Elance to post my open jobs. I have not had a problem with either method of hiring out work, but there are some advantages and risks to both.

What NOT to Outsource

Of all the jobs I decided to outsource, the one that really did not make a lot of sense was asking my virtual assistant to conduct keyword research. By no means am I an expert on the topic nor will I ever be. But I found that I still spent a lot of time (2 or 3 hours) detailing the research that I wanted to be completed and the results I was expecting. Add on top of that the $60 ($4 per hour X 15 hours) I paid my VA and I was pushing almost $100 into this project.

In the end I got a list of keywords that I could have easily pulled from any of the free online research tools that are available today. It would have probably taken me no more than 30 minutes to complete this work as I knew what I was looking for.

Is it my virtual assistant’s fault for taking so much time on the project and giving me mixed results? NO! In the end I blame myself for not setting realistic expectations and for thinking I could outsource this job in the first place.

The Virtual Assistant Alternative

In place of hiring a virtual assistant to conduct my keyword research, I have recently purchased the Micro Niche Finder Keyword Software product for less than $100. This tool has not only saved me time, it also has saved me a ton of money compared to hiring a VA to do the same job.

In just over 1 month, I have spent less than 3 hours with this tool and have keyword research results that are far superior to those of my outsourced work. The point here is that sometimes it makes more sense to use a tool instead of hiring out the work to someone else.

Why Virtual Assistants are Still Good

Regardless of my disappointment of outsourcing work to conduct keyword research, I still believe that virtual assistants can be a huge asset to building passive income. They can save you time, money, and a lot of frustration around tedious tasks that you continuously put off.

I believe that there are still jobs that should and can be outsourced when it comes to building passive income. There are also times when purchasing a tool like the Micro Niche Finder makes more sense. Finally, there are other times when it just makes sense to pull up your sleeves and do the work yourself.

Overall, building passive income can be a balancing act. At times, you want to run out and hire every VA you possible can so that you can accelerate your earnings – even when it does not make a lot of sense. In the end, it is all about learning from your mistakes and capitalizing on what works. If you fail to learn anything from these types of situations, then you are almost certain to fail at building passive income.

Related posts brought to you by Yet Another Related Posts Plugin.

How to Find Freelance Work

John S. — Tue, 17 Aug 2010 11:42:18 +0000

Picking up freelance work can be a great way to earn extra income. The money earned from these type of gigs can be used to help supplement your current income, pay off debt, or build passive income through a high yield investment. As the job market continues to feel the pain of the global recession, freelance jobs are becoming more and more critical.

With employers still reluctant to hire full-time workers and employees lack of trust in most companies, freelancing can offer some financial security. As this trend continues and as technology makes it easier to obtain freelance work, it is hard to ignore this potential income stream.

If you are interested in finding freelance work, here are 3 places you can start looking for opportunities.

1. Freelance Websites

Technology has opened up many opportunities for freelance work that were just not available 10 or 15 years ago. On the downside, it has also increased competition for freelance jobs and introduced foreign competition. Websites like oDesk and Elance provide a place where those looking for freelance work can bid on open jobs posted by employers.

Some of the more popular forms of freelance work posted on these sites include – website design, technical writing, blog and article writing, software development, graphic design, and much more. If you have any of these types of skills, you may want to start checking out a couple of these websites.

2. Former Employers

Former employers can be an excellent place to find freelance work, provided you left on good terms. A previous employer may be inclined to hire you back on a contractual basis to work on a project or specific set of tasks. By hiring a former employee, the company saves in training costs and understands the type of worker they are paying for.

I recently completed my first paid freelance assignment through a previous employer. My former employer actually contacted me for the job, as they felt I had the skills and prior knowledge of the work that needed to be completed. The employer saved money as I began working on the project immediately while I added a profitable short term income stream to help out our finances.

If you are looking to earn some extra income, then I highly suggest contacting a former employer to see if they have any freelance opportunities.

3. Networking

Networking is one of the most important tools used to find freelance work in today’s economy. Social networking sites like LinkedIn create an environment where freelancers can network with potential employers for future freelance work.

The nice thing about sites like LinkedIn is that they can be used at no charge to promote your services and skills to potential clients. Some freelancers also leverage popular sites like Twitter and facebook as another way to advertise their services at no cost.

I have received a few inquires about potential freelance job opportunities just from my LinkedIn account. While the timing did not fit with my schedule from these opportunities, I am planning to leverage this tool to find other freelance work that may become available in the future.

Final Thoughts

The traditional work environment is changing from what it once was. Most people I know from the baby boomer generation stayed employed with one company their entire careers before retiring. That just does not seem to be the case anymore. Whether it is the poor economy or improved technology, the trend of earning an income from freelance work is growing.

Freelancing is a great way to start a side business or begin a full-time job on your own. As the economy continues to struggle and companies are hesitant to hire on full-time employees, freelance opportunities will continue to grow. Employers who need specific jobs or projects completed are turning to part-time help to get by until they are confident of hiring again.

Now may be the best time to start considering adding on freelance work as a new income stream. I know that I am exploring several opportunities in this area to help supplement my income and work to become financially independent once and for all.

Do you pick up any side freelance jobs to help supplement your income? What other places can you suggest to find opportunities for those starting out?

Related posts brought to you by Yet Another Related Posts Plugin.

The Most Important Thing to Know About Working with your Virtual Assistant

John S. — Fri, 21 Aug 2009 11:20:14 +0000

Hiring a virtual assistant (VA) can be a great way to take care of those tasks that you never seem to get done. A VA can typically be hired for all sorts of jobs, both personal and professional. Anyone who builds passive income streams should at least consider outsourcing some of their work to a virtual assistant if they want to accelerate their earnings potential. After all, there are only so many hours in the day to get work done.

Virtual assistants can be hired with all types of skills and experience. They can typically be hired from as little as $2 per hour all the way up to over $100 per hour. They can also be hired at a set amount per completed job or task. The payment structure and terms normally depend on the agreement between you and your VA, as well as the guidelines laid out through virtual assistant service providers like oDesk.

Most Important Thing to Know About Hiring a Virtual Assistant

So now that you are at the point of hiring a VA, there is one thing you need to know. If you don’t get this right, then your entire experience working with your virtual assistant will more than likely be a waste of your time and money. It will probably also end up being a negative experience for your virtual assistant as well.

The most important thing you should know – Having a Plan!

It sounds simple, but if you don’t have a plan in place for your virtual assistant, you are bound to fail. Have a list of tasks and jobs that you plan on having your VA work on. Without this list, you won’t be focusing in on the areas that you need help on. There must have been a reason why you wanted to hire out certain tasks, just make sure you can detail what those tasks are and assign them out.

You really can’t expect your virtual assistant to understand exactly what you are thinking. Depending on the background and experience of the outsourced resource, you may need to be very detailed in assigning tasks. Always be as specific as you can so that there is no room for any confusion between both parties. You can’t expect that hiring someone for $2 per hour is going to comprehend tasks that are not specifically detailed, so be sure that you account for this. Otherwise, you will be asking them to do the work over again – or worse, you will be finishing the job yourself!

Treat it Like a Business

Just as it is important to be specific in your assigned outsourced tasks, it is also important to treat this experience as a business. You are the manager, the virtual assistant is your employee. Be specific in your details and always assign due dates and milestones in your plan. Never leave any room for confusion or misunderstanding.

If you are able to create and stick to a detailed plan, then your experience working with a virtual assistant will be a positive and productive experience!

Recommended Virtual Assistant Service Providers

What has your experience been with virtual assistants?

Related posts brought to you by Yet Another Related Posts Plugin.