Black Board Friday: Internet Micro Economy

Internet Micro EconomyWhile the US economy is nose diving and taking much of the world along with it, its time to start paying attention to the internet where a micro economy has not only been doing well all along but exploding recently.

I wish I could take credit for this saying as it holds true especially now “Some people wake up in the morning and make things happen, others watch things happen and some wonder what just happened?”. Its time to snap free for a moment from all the news and realize that if you have skills its time to put them to work and make some money online!

So how exactly do you make money? In a nutshell take inventory of your skills, a true hard look at what you can do and start getting creative with your online marketing of those skills. For example I am always in need of new content, so finding writers who can generate fresh new content is something I scour the internet for on a daily basis. In my experience with hiring content writers I have been privileged to work with and hire some of the most credentialed Ivy League graduates to hard working stay at home moms who need to make ends meet. Some of the writers already have day jobs that may not be their ideal job but they are not sitting around holding out for that corner office. Instead they take on side work to make up the difference and sometimes make more than they expected.

So what is the catch? I completely expect you to wonder what the catch is, here it is. Think MICRO! For example content writers may charge anywhere from $10 to $40 per article for the type of content I am looking for. Now this may be well below what you hoped you could charge for a well researched non-plagiarized article but do not get caught up in the price just yet. In my experience when ordering articles it usually an order of 3 to 5 articles at a time every week or every other week. So let’s do the math:

3 articles per week x $25 per article = $75 in your pocket or $300 per month

Now I know you can’t live off of $75 or roughly $300 per month, so let’s start scaling this out because you are one of those people that make things happen!

3 Clients
9 articles per week x $25 per article = $225 in your pocket or $900 per month

5 Clients
15 articles per week x $25 per article = $375 in your pocket or $1500 per month

Now the great thing about this Internet Micro Economy is the un-written rules that apply to it in a street smart way that provides a quick checks and balance system. Basically if you burn somebody, you’re done! Let’s take a look at a few:

– All work requires a deposit of minimum 50% unless you have a great reputation and require full payment up front.

– All work requires that you provide a guaranteed turn around time.

– If you mess up or fail to deliver and can’t work it out with your client, your client will in most cases let everyone know how you messed up and not recommend you. Basically you are toast.

– Be flexible with your pricing as in most cases you will be undercutting someone else so expect to be undercut.

– Go the extra mile! Do not just deliver what is expected; go above and beyond so that you stand out from the crowd. This usually leads to good recommendations and more work!

If you are not a writer, don’t worry there are so many opportunities to work. Writing is just one small part of what is in demand. Here are a few other examples of work:

– Landing page designers

– PSD to HTML

– PHP scripts

– WordPress Plugins

– Social Media

– Link Builders

Ready to get started? Where can you post your skills and start getting work you ask? I like your attitude, the rule of thumb is go to the watering hole or virtual water cooler like forums. Here are few great places to get started:

WickedFire Forum (Not for easily offended)
http://www.wickedfire.com/sell-buy-trade/

Digital Point
http://forums.digitalpoint.com/forumdisplay.php?f=24

SitePoint
http://marketplace.sitepoint.com/categories/looking-to-hire

ProBlogger Job Board
http://jobs.problogger.net/

StuntDubl Job Board
http://www.stuntdubl.com/jobs

Its time to shake off the gloom and doom attitude! Go out there and market your skills and although you will not be getting the big money that you are used to making you will in some cases be able to make more collectively.

THE MOST IMPORTANT PART! You need to give back! What makes the Internet Micro Economy work is people who recognize that they do not need to do everything themselves and realize they make more money by hiring out work as they can move towards completing goals faster. Do not hoard up all your work and do it all yourself! If you need a PSD converted to HTML and it’s not your thing hire someone from the same place you get work. If you need a design for you new site don’t waste time trying to figure out Photoshop and hire someone who can crank out a great design for you.

The economy is not great right now, that’s a fact. If you have skills you can survive and thrive despite what is going on around you. Be conscious of what is on in the world but do not let it keep you from putting food on the table and paying your bills!

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Comments

  1. Beth Gilmore says:

    Perhaps you should consider beginning a new career as a business coach??? Great article!

  2. I loved this article, it clears so many things I didn’t quite get until now, thank you!

  3. I totally get your point about internet micro economy, thank you for this very well put post

  4. Great article! This is powerful information to share because article marketing can become a great source of revenue for people that have lots of knowledge in their field or industry. The reality is that although there is a glut of content and information on the web, useful and relevant information always commands a premium. Another great site that deserves a mention is http://www.associatedcontent.com where people can submit articles for income.

    I’ve actually developed my entire blog based around this theme of an online economy and how everyday people can turn their head knowledge into streams of online income. With so many people losing their jobs and out of work the Internet can really become a Godsend to people that become crippled by their local economy.

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