How To Make Extra Money From Home As A Freelancer With Just A Computer

NOTE: The steps below are still applicable even though oDesk is now Upwork

This post is an update to a prior post shared here: How to Make Money Online for Free. Ever since it ranked on Google, people have contacted me asking for more details.

So I’m going to share a bit more here on how can you make real money online without having to squander a single penny out of your wallet. Before that, a short Disclaimer…

“I can’t promise you any earnings or income (or) that you will achieve the same results.”

With that said, here’s a screenshot taken from one of my freelance accounts on August 12th 2013. If you’ve been following me, you know that I’m not a full-time freelancer and I don’t focus all my time doing freelancing work. The reason I show this is merely to prove that I know what I’m talking when it comes to making a little extra money online.

I hear you asked: “How did you do that?”

Well, I’ll reveal to you shortly. But please bear in mind that I’m not an Internet Guru nor an Internet Marketing Star. I’m just an ordinary guy wanting to earn a living from home.

I bet many of you must have stumbled upon tons of ways to earn online, the key question is have you really made the kind of income that you’re expecting? It is true that there are plenty of ways to make money online; but if you’re doing something that isn’t generating you income, your first step is to stop doing it. If it’s making you money, then do more of it.

Here’s what I often get…

From what I’ve gathered so far, most people are just interested in exploring the quickest, most effective, without spending a dime (free) method to make lots of money from home.

By the way, I’m not referring to direct selling, home based business, MLM, or network marketing. If you are planning to work on that, then this post is definitely NOT for you.

I’m talking about doing freelance online, taking up projects with legitimate contracts.

Basically, you earn money through selling your services, offering your skills and talent; helping people to get their job done, solve their desperate problems or challenges.

Are you interested to learn how to make extra money from home? I guess you’d say yes.

OK, let’s get into the nitty-gritty…

7 secrets to making extra money online as freelancer

#1 Identify A Profitable Niche That You’re Really Good At: If you want to make good money as a freelancer, you need to be in a niche that has plenty of working opportunities. Start by doing your research on niches/skills that people are prepared to PAY money for.

Make sure you’re well-versed in the niche you choose or… you’ve got interest in at least.

Example: My niche is in Web Development: WordPress. As of Aug 2013, 18.9% out of ALL existing websites are using WordPress. I know this is an extremely profitable niche.

You can refer to the diagram here to check whether your niche is in high demand or not.

#2 Tie Yourself To ONE Reputable Freelance Platform: If you’re just starting out with freelancing, I’d highly recommend you stick to ONE established freelancing network.

I’m talking about sites that have a proper system and written agreements in place – from applying a project to working on it, and getting paid once it’s successfully completed.

Example: I’ve a pleasant experience working with Upwork and Elance platforms. For your info, more than $1 Billion USD has been spent on oDesk as of August 05 2013.

#3 Complete Your Profile With A Presentable Picture:  I can’t stress how significant this step is. Your photo is the first thing a client will look at when you apply for work. Then they look at your profile, followed by work history, clients’ feedback, and portfolio.

Make sure you fill out every single detail of your profile, upload a REAL picture of you, list down the things (skills) in point form you can contribute, and include work samples.

Example: My profile has only 67 words. I list down the things I can do in point form and link to this blog if people want to know more about me. I also include my work samples.

#4 Build Your Reputation Doing Work You Can Deliver: There’re literally thousands of online jobs posted in real time on a daily basis. You only want to work on projects that you’re confident can deliver. Confirm the work description before accepting any offer.

There is abundance of projects. You just need to focus on those that you’re familiar with.

Here is what will happen when you only work on projects you know. You get things up and running with no hassle. When you able to deliver what you’ve promised in super quick time, not only you’ll receive excellent feedback but you’ll also get paid immediately!

Example: I only apply to WordPress, membership site, and sales funnel related projects.

#5 Responsiveness Plus Impressiveness To Application: This is more towards to people who are just starting out. Ever heard of “the early bird catches the worm?” This is what it means here – You need to apply to a project incredibly fast. To be specific, your application must be submitted in first 10-15 mins from the moment that project is posted.

Not only you need responsiveness in your application, you need impressiveness in your proposal (cover letter) as well. Your proposal must be unique, straight to the point on WHY you apply? WHAT similar work have you done? WHEN you can accomplish it?

Some clients will ask to include some wordings or answer a question in the first line of your proposal to test you out and also filter out spam applicants. Make sure you do it.

Example: My proposal usually consists of ~100 words. Here’s a proposal I used…

#6 Bidding & Positioning Strategies That Make You Money: We’re now living in an increasingly competitive and globalized world. You need to aware there’re probably hundreds if not thousands of people out there that can do what you do. Why select you?

Here’s my tip to those who are just getting started – those who want to learn how to make extra money from home as freelancer, please bid HALF of the client’s budget.

The reason is because most clients are also looking for freelancers (contractors) that willing to work on their projects a little below their budget. After qualifying candidates, most often the project will be awarded to the LOWEST Bidder. Keep this in mind.

The only time you can bid high is NOT when you apply to a project, but it’s when you receive an invitation offer from clients. This is where the REAL money is because you’ve proven you’re skilled and you’ve positioned yourself as a leading expert in your niche.

Once you start receiving offers, you can negotiate and select which clients to work with.

Clearly, this depends on several key factors like: work history, awesome reviews, good relationship with clients, recommendations, and being profile optimized in search results.

Example: When I just got started, my hourly rate was just $3 USD per hour. I worked hard on building my portfolio, constantly getting projects completed successfully on time, and received 5-star feedback from clients… I’ve gradually increased my hourly rate from $3 => $11 => $16 USD and my rate is currently $33 USD per hour (as of Sept 10, 2013).

#7 Sharpen Your Skills & Be A Phenom In Your Niche: As the classic saying goes… “If I had six hours to chop down a tree, I’d spend the first four hours sharpening the axe.” You need to constantly keep yourself up-to-date with newest info related to your niche.

Set up Google Alerts and start monitoring the latest happenings. Look at what clients are advertising on the freelance platforms. Look at their advertised budget and then use it as reference point on acquiring new skills. Participate in 1-2 active forums that are relevant.

And so this basically concludes my sharing on what I know about making money on the Internet as a freelancer. To whoever who are reading until here (I know is lengthy), I hope you will find the 7 secrets here helpful. Please let me know your thoughts at below.