I need to make a business decision...

s0lid · Mar 2, 2024

I am making 3k per month via upwork and i spend 1.5k outsorcing so i am left with 1.5k per month profit.

I started SMMA getting clients outside of upwork and using Facebook Ads. I spent around 1.1k in ads. In the last batch of ads i got 2 clients very interested but now they wen't dark.

I have taxes to pay in 20 March - these could be around 1.5k for Jan-Feb-March

I stopped FB ads for SMMA so i can pay the taxes as i am out of budget and on the limits. (They were $50/day)

I have lost like 2.6k on crypto.

Now i have no saved money, only 100 usd on copytrading. That guy turned my 50 dollars to 110 in 10 days.

WHAT SHOULD I DO?

1) Risk spending all my money on FB ADS and hopefully get 1 client? (But i won't have money for taxes)
2) Pause ads and start again after 1 month (I barely will have money even after 1 month for ads)
3) Invest an extra 500 usd in crypto and give it to my crypto trading guy to make it double in 2 weeks
4) Grow upwork

Note: I am sure that if i have 3k Cash now, i can make my SMMA work and scale it

ellay · Mar 2, 2024

4. Focus on your UpWork and scale up ;^)

kingarthhur · Mar 2, 2024

Yes just use what is worked so far and focus on that

s0lid · Mar 2, 2024

ellay said:
4. Focus on your UpWork and scale up ;^)

I used to make 6k max there. now i find it pretty hard to get new clients

s0lid · Mar 2, 2024

kingarthhur said:
Yes just use what is worked so far and focus on that

You are right but the issue is that upwork is very saturated at the moment. What i need right now is just an extra 3k so i can make FB ads work for the new SMMA agency bu also not wait 2-3 months collecting money from Upwork :/

dawwa1938 · Mar 2, 2024

s0lid said:
You are right but the issue is that upwork is very saturated at the moment. What i need right now is just an extra 3k so i can make FB ads work for the new SMMA agency bu also not wait 2-3 months collecting money from Upwork :/

You spend 1.5k to make 3k on upwork, so you only make 1.5k profit after all that work and then you decided to blow 1.1k on ads to just talk to two "interested" clients that never materialized into revenue.

You shouldn't be even doing ads with how little money you make. Seriously what the hell are you thinking dropping 1.1k in ads when you barely make 1.5k profit a month. That's beyond dumb, your goal should have been to multiply that Upwork income x10 at the minimum. Start with at least 3-5x your Upwork income. The only scaling that you can do with 1.5k is on yourself not personnel, and definitely not 1.1k in ads.

Mukiwa · Mar 2, 2024

Scale Upwork - if you made profit there in recent times then you can do it again.
Sure - some say its saturated - for them.
Not for you and what you do obviously.
Get on with it and good luck with the hard work.

OccultKingdoms · Mar 2, 2024

Mukiwa said:
Scale Upwork - if you made profit there in recent times then you can do it again.
Sure - some say its saturated - for them.
Not for you and what you do obviously.
Get on with it and good luck with the hard work.

Push when they give.

Don't push when they don't give.

Season is up and going!

s0lid · Mar 2, 2024

dawwa1938 said:
You spend 1.5k to make 3k on upwork, so you only make 1.5k profit after all that work and then you decided to blow 1.1k on ads to just talk to two "interested" clients that never materialized into revenue.

You shouldn't be even doing ads with how little money you make. Seriously what the hell are you thinking dropping 1.1k in ads when you barely make 1.5k profit a month. That's beyond dumb, your goal should have been to multiply that Upwork income x10 at the minimum. Start with at least 3-5x your Upwork income. The only scaling that you can do with 1.5k is on yourself not personnel, and definitely not 1.1k in ads.

You're right, i need more cashflow to invest and scale in ads.

I am very good in social media managing but not in ADS. So i spent a total of 850 usd just testing different ad creatives and offers for my SMMA in the dentists niche. Last batch i spent around $260 and got ($25 CPL and 2 clients who want to see contract.)

Then i STOPPED ads because i have to pay taxes in 18 days (around 1.5k)

UPWORK ISSUE: It's getting harder and harder these days to scale it and i doubt i can make more than that.. maybe just an extra 1k...

s0lid · Mar 2, 2024

Mukiwa said:
Scale Upwork - if you made profit there in recent times then you can do it again.
Sure - some say its saturated - for them.
Not for you and what you do obviously.
Get on with it and good luck with the hard work.

Thanks man, after getting the thoughts of all of you - i will try to go full ham on upwork and increase cashflow...

OccultKingdoms · Mar 2, 2024

Too many things at once. This can end up badly. Be careful.

s0lid · Mar 2, 2024

reaaski said:
Too many things at once. This can end up badly. Be careful.

That's true!

But here's how much time i spend daily on:

Upwork - 2H (the work is done from contractors - i just get clients)
Crypto - 1H
SMMA - 1H (outsourced but now i paused it)

I think i still have more time for other things, thoughts?

Maybe this makes me overwhelmed?

OccultKingdoms · Mar 2, 2024

s0lid said:
That's true!

But here's how much time i spend daily on:

Upwork - 2H (the work is done from contractors - i just get clients)
Crypto - 1H
SMMA - 1H (outsourced but now i paused it)

I think i still have more time for other things, thoughts?

Maybe this makes me overwhelmed?

Crypto - you lost.
Ads - you lost.
Upwork - you got it.

What are your doubts?

Diversification is useless. You got almost $0.

I doubt crypto trading is a good choice. Affiliate marketing is better. Or just hold long term btc.

No trading makes sense. Ads are best for affiliate marketing black hat.

s0lid · Mar 2, 2024

reaaski said:
Crypto - you lost.
Ads - you lost.
Upwork - you got it.

What are your doubts?

Agree, but i can't stay my whole life on upwork :/ i need to find other sources of income (that's why i need to test test and test other things)...

The issue with Upwork is that it's not scalable (especially the past 6 months - very saturated)

OccultKingdoms · Mar 2, 2024

s0lid said:
Agree, but i can't stay my whole life on upwork :/ i need to find other sources of income (that's why i need to test test and test other things)...

The issue with Upwork is that it's not scalable (especially the past 6 months - very saturated)

Sounds like you want to find a job. Maybe remote job if you have skill for that.

I don't have so I just do offline job.

MrStev · Mar 2, 2024

Hello. Don't overthink, bro. Just focus on one thing until you master it.

s0lid · Mar 2, 2024

MrStev said:
Hello. Don't overthink, bro. Just focus on one thing until you master it.

Appreciate it, brother! It's just that I feel a bit pressured now because I want to make it work fast... i was so close to scaling my SMMA and getting the first client from ADS until i got a punch from the taxes (First time paying taxes because they just added them in my state for my income level)

rkt77 · Mar 2, 2024

I also suggest you just working on upwork until you get back on your feet.

s0lid · Mar 2, 2024

rkt77 said:
I also suggest you just working on upwork until you get back on your feet.

Thanks, at this moment, I am thinking of way on how to increase the revenue through Upwork... if there's anything i can improve to attract more clients

Nikolaos · Mar 3, 2024

In my opinion options 2 and 4 are most viable. Also if you have a business you can put the Facebook ad spending from Facebook ads under expenses so you'll pay less tax.

I need to make a business decision...

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