Finding Work After 50 — Episode #15 (Making More Money)
Well I just got this nice email from UpWork.
When you use a freelancing site to find work after 50, you have to assume the site takes a chuck of your earnings. And in the case of UpWork, they take a big chuck: 20%. But not forever.
You see, UpWork wants to encourage long-term client-consultant relationships. One way they do that is to take a smaller chuck of your earnings as the relationship grows. It starts at 20%, but drops to 10% after just $500 with that client. Make it to $10,000 with a client and it drops to 5%.
Now, some freelancers complain about the service fee that sites like UpWork charge. They think they should try to do business with the client outside of UpWork and save the fee. There are two problems with that line of thinking.
First, that fee actually provides a valuable service: escrow. You will get paid faster and with greater certainty with a 3rd party escrow service like UpWork than you will on your own. It will also save you time not having to invoice them. To me, that’s a pretty valuable service.
Second, it’s against UpWork’s terms of service. If you get caught, you and your client get booted off UpWork forever AND they keep whatever money they are holding for you in escrow. Not worth it.
I don’t have any $10,000 clients on UpWork yet, but when I do I’ll be happy to hand over 5% of my earnings in exchange for less hassles working with a long-term client.
BTW, I’m getting ready to launch a free 5 part mini-course called course How to Find Your First Customer for People Over 50. If you’d like to be the first to find out about it, just head on over and sign up for my blog at Too Young To Retire.
Until next time.
Originally published at Too Young To Retire.