- Business and Employment
Understanding The Fiverr Payment System
Making Fiverr Part Of Your Business Plan
If you're going to make Fiverr part of your business plan then you're going to need to understand how their payment system works. After all, you're in this for the money, right?
The first thing you need to understand is that your earnings potential with Fiverr is really unlimited. Get that $5 figure out of your head right now. Too many people focus on that one, thin little five dollar bill.
What you should be focusing on is the fact that it only takes 20 of those things to make $100. It only takes 200 to make $1000. If you work online even part time there's something that you do at least 200 times a month. You send a Tweet. You 'Like' something on Facebook. You comment on blogs or forums. You sketch for your sketchblog. You write out recipes for your Squidoo lenses.
All of these things - and anything else you do 200 times a month - could easily be making you $5 every single time you do them! There's a buyer for everything on Fiverr.
You also don't need to look at Fiverr as a full-time commitment. If you just want to make a hundred extra bucks a month so you can afford to take in dinner and a movie - fine. Just do it!
But the first thing you need to do is make a commitment that you're going to include Fiverr in your business plan. The size of the commitment is up to you. But you will have to be committed because you're working on a clock!
Before I start, let me make one thing perfectly clear....
I make no money from referring people to Fiverr. As far as I know they don't have an affiliate program. So feel free to click on any links you see. I make these Fiverr lenses because it warms up my writing Muse!
That Rumor You're Hearing is Only Partly True
A lot of people won't even consider working on Fiverr because they've heard it takes 14 days to get paid.
That's only partly true.
Follow me while I walk you through the Fiverr Payment Process!
Step One: The Buyer Orders Your Gig - And the Clock Starts Ticking
We're going to assume you've already created your very first gig. You can get more information about setting up gigs at Follow Me While I Make A Fiverr.
Let's also assume that you've created an Express Gig - which means you're going to deliver within 24 hours.
The very first buyer steps up and orders your gig on Monday at 1 pm. and the clock starts ticking. Your remaining time limit is always displayed at the top of each order, no matter how far out you extend your lead time.
This clock only counts down your time until the delivery is due. It has nothing to do with when you get paid.
Fiverr doesn't care when you deliver, as long as you deliver on time. So if you need a few extra bucks and you want to work ahead on your orders - go for it.
Step Two: You Deliver The Order - And the payment clock starts ticking!
As soon as you click the send button to deliver that gig, you've earned your $5 and the payment clock starts ticking.
Now, one of three things will happen:
- The buyer will immediately accept delivery
If you're really lucky the buyer will be sitting there waiting for delivery. Or he'll at least check Fiverr periodically throughout the day.
The buyer has 3 days to accept deliver. If, at any time during those 3 days he physically accepts delivery, the 14 day countdown immediately starts.
- The buyer never physically accepts delivery
A lot of things will prevent a buyer from physically accepting delivery - different time zones, they get too busy, they forgot they even ordered anything, life gets in the way, and so on.
Fiverr gives the buyer 3 days to physically accept delivery and file a dispute if they don't like what they received. If they do NOT physically accept delivery during those three days then Fiverr automatically considers the gig delivered, they give you an automatic Thumbs Up rating, and the start counting the 14 days.
What this means to you is this - If the buyer doesn't accept the order within those 3 days, then you're waiting a total of 17 days to receive payment for that gig.
- The buyer disputes for whatever reason
If the buyer accepts the order and just gives you a Thumbs Down then the payment clock starts ticking and you have 14 days from the day he accepted.
However, the buyer can also dispute the order with Fiverr. At that point, you're not going to get paid until you straighten it out with the buyer and/or Fiverr Support.
Don't Panic Over A Thumbs Down
If a buyer disputes your order and gives you a Thumbs Down, simply contact the buyer and see what you can do to make it right. Most buyers just use that Thumbs Down button to get your attention and they can change it on their end once they're satisfied.
If you CAN'T get the buyer to remove that Thumbs Down and you feel you're not at fault, use the Fiverr Support button and ask them to remove the negative rating. If you've documented everything they'll usually take care of it for you.
Step Three: Keep Working
Here's where a lot of people make their mistake. Don't stop working and wait 14 or 17 days for the money to come in!
If you stop and wait for that first paycheck, first of all it's only going to be $4. Second, you'll have to deliver another gig and wait another 14 days to get the next $4.
If you keep working then the money starts coming in every day. Deliver 10 gigs on Monday and 2 weeks later - on Monday - you'll have $40 in your Fiverr account. Deliver 10 gigs on Tuesday and 2 weeks later on Tuesday you'll have another $40 in your Fiverr account.
Once you start working with Fiverr you only have to wait for money for the first 14 to 17 days. If you're delivering gigs every day, then you'll have a steady stream of income coming in every day!
How To Get Paid By Fiverr - It's time to get your money!
Once those first 14 to 17 days are up, you can start collecting your money from Fiverr. On your Seller's Revenue page you'll see just how much money you've earned!
In the image above the $36 is what I have available to withdraw if I want it today. I usually let it accumulate for a week or so so I don't have to pay so much in Paypal fees.
The $252 that's awaiting clearance is money I've earned from gigs that have been delivered and accepted, either manually or by Fiverr's system. That means that over the next 14 days I have $252 coming in. (Yeah, it's kinda low. But I took some time off this month.)
The $212 you see is for gigs that I still need to deliver and if you add all of this up it comes to the $500 total revenues showing at the top. If I were to withdraw that $36 right now then my total revenues would drop to $464.
If I want that $36 I can have it in my Paypal account instantly. There is no wait time. (Not sure about other countries.)
You need to have a Paypal account associated with your Fiverr account. Fiverr is only set up to pay through Paypal. (No. I don't know if that will change.)
When you're ready to withdraw you just click that little blue box that says "Withdraw Your Earnings". Fiverr sends a confirmation email to the email address you have on your Fiverr account. Then you just click the confirmation link and the money drops right into your Paypal account!
I blacked out my total withdrawals in that image up above but it's over $2,000 now. That means I've been paid more than $2,000 from Fiverr gigs since Nov. 26, 2011 and I still have another $500 on the way.
What could YOU do with an extra 2.5 Grand?!
And why haven't you signed up with Fiverr?!
Making Fiverr Part Of Your Business Plan
Here's what I like about Fiverr - You can control your work and your earnings.
When I need a little extra money for something, I just work ahead on my gigs.
For example, I went to visit my brother a couple of weeks ago and about 3 weeks before I left I really busted my hump on Fiverr so I could earn some extra cash. And 2 weeks before I left I paused my gig for 7 days so I wouldn't have any orders come due while I was gone.
I also build and update my own library of Squidoo lenses plus I have other writing gigs come in, too. So I just look at my calendar at the beginning of the month and pencil in time for Fiverr then adjust my leadtimes and gigs accordingly.
My point is, you can make Fiverr a small part or a big part of your business plan because you have control over your lead times and bookings. You're not at the beck and call of the buyers. If they don't like your lead time then they just won't order your gig. But trust me, if you deliver a quality product - no matter what it is - you will have a steady stream of buyers... which means you'll also have a steady stream of income!
Need More Fiverr Help? Look Here!
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