How to Sell a Service on Fiverr

Fiverr is a global online marketplace that is mainly used by freelancers. Fiverr allows individuals to offer tasks and services, beginning at a cost of $5 per job performed, from which it gets its name. Even though $5 is not a lot of money, it is a great source of side income. Most people use Fiverr to help other people, in other words, to provide a service rather than a physical product. There are not many rules or regulation on how to sell, they pretty much let you sell however you want to. Also there is no limit, so you can offer as many products as you want.Fiverr does not have a way for you to promote your service, so it is best to use an outside source like Facebook, Instagram, or Snapchat and direct them to your service. Sales are key to becoming a trusted seller. Up front you will have to work hard and get a couple hundred sales under your belt and some good reviews, but once you do you will get more sales because people will know they can trust you. It is best to find a special niche where there are not many competitors, the fewer competitors there are the better.

Fiverr does have a relatively large price for letting you use their web base. They take $1 for a $5 gig, and you keep the rest. Payments are made through PayPal and they take $.42 as well. This leaves the seller with a total retention of $3.58 for every gig. Other downsides include not being able to upsell products, not being able to make sales outside of the Fiver database, and having your prices restricted to $5.Most people want to know, does Fiverr really work? My answer to this question is yes. Even though there are some downsides, there is a reason it has risen to the top of freelance services. Fiverr launched in early 2010 and by 2012 it was hosting over 1.3 million Gigs. The website transaction volume has grown 600% since 2011. Additionally, it has been ranked among the top 100 most popular sites in the U.S. and in the top 200 sites in the world since the beginning of 2013.So, how do you make money on this site? The answer involves a few steps. When selling on Fiverr you should keep it simple. Remember you should probably start small and work your way up, do not start out trying to become a millionaire on Fiverr. Most people on Fiverr are using it as a way to generate side income. Also when selling on Fiverr, offer your smallest service for $5 and then offer your bigger packages (if you have any) for more. A couple of tips for your account are to have a great title, it is the first thing people are going to see, make sure it makes a good impression. Also, make sure your picture is relevant to your gig, and that the picture is high quality and professional. You know what they say, a good picture is worth 1000 words. People like to see good pictures.Always remember to keep in contact with your customers and deliver your service as soon as promised. You can set how long it will take you to complete the service, so remember people expect you to keep your word. If you do exceed your due date your customer will then have the option to cancel their order which means you might lose a sale.

So, my verdict is to try it. I think it is a great way to earn some extra cash. I know it does not pay a lot, but it can be profitable if you learn how to streamline your part so that it does not take you long to perform a job. There are no fines for canceling an account, so you can start and if you do not like it you can quit right away. Fiverr offers a wide variety of categories to choose from. They have: Graphics & Design, Digital Marketing, Writing & Translation, Video & Animation, Music & Audio, Programming & Tech, Advertising, Business, Lifestyle, Gifts, and Fun & Bizarre. So get started today, go to and see how well you can sell.

Sources of Business Finance

Sources of business finance can be studied under the following heads:

(1) Short Term Finance:

Short-term finance is needed to fulfill the current needs of business. The current needs may include payment of taxes, salaries or wages, repair expenses, payment to creditor etc. The need for short term finance arises because sales revenues and purchase payments are not perfectly same at all the time. Sometimes sales can be low as compared to purchases. Further sales may be on credit while purchases are on cash. So short term finance is needed to match these disequilibrium.

Sources of short term finance are as follows:

(i) Bank Overdraft: Bank overdraft is very widely used source of business finance. Under this client can draw certain sum of money over and above his original account balance. Thus it is easier for the businessman to meet short term unexpected expenses.

(ii) Bill Discounting: Bills of exchange can be discounted at the banks. This provides cash to the holder of the bill which can be used to finance immediate needs.

(iii) Advances from Customers: Advances are primarily demanded and received for the confirmation of orders However, these are also used as source of financing the operations necessary to execute the job order.

(iv) Installment Purchases: Purchasing on installment gives more time to make payments. The deferred payments are used as a source of financing small expenses which are to be paid immediately.

(v) Bill of Lading: Bill of lading and other export and import documents are used as a guarantee to take loan from banks and that loan amount can be used as finance for a short time period.

(vi) Financial Institutions: Different financial institutions also help businessmen to get out of financial difficulties by providing short-term loans. Certain co-operative societies can arrange short term financial assistance for businessmen.

(vii) Trade Credit: It is the usual practice of the businessmen to buy raw material, store and spares on credit. Such transactions result in increasing accounts payable of the business which are to be paid after a certain time period. Goods are sold on cash and payment is made after 30, 60, or 90 days. This allows some freedom to businessmen in meeting financial difficulties.

(2) Medium Term Finance:

This finance is required to meet the medium term (1-5 years) requirements of the business. Such finances are basically required for the balancing, modernization and replacement of machinery and plant. These are also needed for re-engineering of the organization. They aid the management in completing medium term capital projects within planned time. Following are the sources of medium term finance:

(i) Commercial Banks: Commercial banks are the major source of medium term finance. They provide loans for different time-period against appropriate securities. At the termination of terms the loan can be re-negotiated, if required.

(ii) Hire Purchase: Hire purchase means buying on installments. It allows the business house to have the required goods with payments to be made in future in agreed installment. Needless to say that some interest is always charged on outstanding amount.

(iii) Financial Institutions: Several financial institutions such as SME Bank, Industrial Development Bank, etc., also provide medium and long-term finances. Besides providing finance they also provide technical and managerial assistance on different matters.

(iv) Debentures and TFCs: Debentures and TFCs (Terms Finance Certificates) are also used as a source of medium term finances. Debentures is an acknowledgement of loan from the company. It can be of any duration as agreed among the parties. The debenture holder enjoys return at a fixed rate of interest. Under Islamic mode of financing debentures has been replaced by TFCs.

(v) Insurance Companies: Insurance companies have a large pool of funds contributed by their policy holders. Insurance companies grant loans and make investments out of this pool. Such loans are the source of medium term financing for various businesses.

(3) Long Term Finance:

Long term finances are those that are required on permanent basis or for more than five years tenure. They are basically desired to meet structural changes in business or for heavy modernization expenses. These are also needed to initiate a new business plan or for a long term developmental projects. Following are its sources:

(i) Equity Shares: This method is most widely used all over the world to raise long term finance. Equity shares are subscribed by public to generate the capital base of a large scale business. The equity share holders shares the profit and loss of the business. This method is safe and secured, in a sense that amount once received is only paid back at the time of wounding up of the company.

(ii) Retained Earnings: Retained earnings are the reserves which are generated from the excess profits. In times of need they can be used to finance the business project. This is also called ploughing back of profits.

(iii) Leasing: Leasing is also a source of long term finance. With the help of leasing, new equipment can be acquired without any heavy outflow of cash.

(iv) Financial Institutions: Different financial institutions such as former PICIC also provide long term loans to business houses.

(v) Debentures: Debentures and Participation Term Certificates are also used as a source of long term financing.


These are various sources of finance. In fact there is no hard and fast rule to differentiate among short and medium term sources or medium and long term sources. A source for example commercial bank can provide both a short term or a long term loan according to the needs of client. However, all these sources are frequently used in the modern business world for raising finances.