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******Is starting a freelance company worth the effort? ********

Discussion in 'Business & Tax Advice' started by red1eaf, Oct 24, 2011.

  1. red1eaf

    red1eaf Registered Member

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    Need suggestions

    Been doing the IM for last 3 years. Earning decently. Many times I have outsourced the jobs to freelancers.

    One thing that is true is whether I make money out of being affiliate or not, but the freelance service provider definitely makes money, albeit less. And there were several instances of WSOs that made a good deal of money out of providing services to other IMers. ( for eg. Website flipping).

    Though being an IMer is more lucrative ( or atleast for those who are superaffiliates) but being a service provider is more of a stable business.

    Now I am thinking of starting a company that provides medium-range technical services to the IMers. Something like modifying a joomla site, fixing a php site , or installing templates kinda. I need your suggestions on this model of business.

    Why I think this will be successful?

    I have access to a very large number of fresh engineering graduates who can be trained very fast on the specific technologies like joomla,wordpress,drupal,php. And with a MLM kind of business model , where an individual employee gets a fixed salary ( about $150 per month) + % of the total revenue generated from him/her, I think it would be a good proposition. ( dont be amazed at the figures. I can get the workforce at that cost)

    With this kind of setup I can initially start taking the medium-range technical work and once the experience of the employees grows , then start targeting more high-end technical work.

    The bottom line is I am depending on quantity rather than quality INITIALLY.

    What are the Challenges that I can think of ?

    1) First and foremost , to be able to train all of them to attain the desired technical skill in joomla,drupal,php,wordpress. ( Initially these technologies will be targeted from freelance sites like odesk,freelancer.com,elance etc)
    2) To find a software/system that can manage the training/assessment/tracking of the progress of skills.
    3) To find software that can track the revenue generated by individuals. ( After little bit of googling , MLM softwares seem to solve this issue, but not sure yet.




    Where I need help from you ?

    1) The most important, is it a practical business proposition? , I mean can we generate the kind of money as a group?
    2) What other challenges I am likely to face?
     
  2. SEOWhizz

    SEOWhizz Power Member

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    I don't think we can answer that. You will need to work out the figures, based on your projected sales and what 'net' profit you are forecasting to make, etc.

    Here's a few: competition, managing others (particularly if you've not done it before at this level), time management (combining your new business with affiliate marketing may not be easy and having a social life!).
     
  3. psatek

    psatek Newbie

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    Having run a normal IT company, we outsource quite a lot of work and have found a massive variance in the skill of the people you outsource to, some are incredibly competent and others are well really bad. It may take a while to find competent outsourcing staff and keep them on-board whilst getting rid of the incompetent ones. With what you say about training them, some people will learn quickly while others seemingly won't learn at all.
     
  4. red1eaf

    red1eaf Registered Member

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    thanks guys for the response. i think i need to take my chances to find out if it is really worth it.