This business model involves you looking for services on Fiverr that involves researching or finding digital assets. These assets take many different forms.
There are people on Fiverr that use all sorts of sophisticated software to quickly find domain names. You can then buy these services to get a list of those domain name that you could possibly buy. Buy some and then, try to flip them.
Similarly, there are service providers on Fiverr that can help you find leads. For example, if you’re looking for yoga instructors in Los Angeles, there are virtual assistants who can look up those people.
They can get a name, an address, a specialization, and contact details. They can even find social media accounts. You bundle all that information, then you sell it to people who are looking to reach those prospects. Do you see how this works?
This is one of the least known ways to make money on Fiverr. If you know what you’re doing, you actually stand to make a lot more money using this technique than most of the other techniques I shared in this book.
A lot of the services that go into finding and analyzing potential, digital assets are actually cheap on Fiverr. We’re talking about five bucks. How come? A lot if these service providers don’t do it by hand. They don’t have the time to do it by hand, plus they’re too smart for that.
They use software. Some of them have special coded software that they built themselves or they hired somebody to do it for them. Others use off-the-shelf software. Regardless of the tool that they use, you benefit because you buy their services at a low price.
Next, you can buy these services to compile an asset. For example, you hire somebody to find a certain type of doctor in a certain city in the United Sates. You can then take that information and sell it many times over. You pay for the asset once, but you can sell it again and again.
Another advantage you get with this business model is that depending on the asset, you can actually charge quite a bit of money. Let’s get one thing clear.
If somebody just wants you to find all the doctors who offer their services in the greater Los Angeles, California area, you probably won’t be able to charge too much money. There’s probably a lot of lists out there. In fact, a lot of them are free. What makes your list so special?
Now, if you came up with a list of specialist doctors who are looking to buy and MRI machine because they have bought a related machine in a not-so-distant past. That list that you have can be gold. You can sell it to an MRI sales company or companies related to MRI. Do you see the big picture here? Good. It’s quite lucrative.
Finally, you sell assets with this service. For example, you hire people to find specialized domain names. Those are assets. This is very different from leads. Leads are those who can resell many times over, but are not assets.
The big drawback to this is the fact that it costs money upfront. People finding assets for you or digging up information for you will not do it for free. No chance. You have to pay upfront.
Next, you have to pick the right assets to sell. Otherwise, you’ll have many assets that won’t sell enough to cover your costs. Again, going back to the doctor example. You might think that people will pay good money for a pure list of doctors from a specific geographic area. Think again. Those lead lists are probably all over the place. Why should they pay you money?
You have to find specialized information. The same applies to domain names. You have to pick the right type of domain name that has existing demand. Otherwise, people are not going to pay that much money for it assuming they buy it at all.
The next disadvantage is that reselling domains means buying the service to find it, analyze it, and then, pending more money to buy the domain. In other words, you’re paying many times over.
Wait, it doesn’t stop there. Just because you bought the domain doesn’t necessarily mean that you can automatically flip it. A lot of times, people who buy digital assets like domains have to hang on for it for several months or even several years for it to be worth quite a bit of money. There’s a lot of opportunity costs involved. This is not a slam-dunk.
Finally, if you are using Fiverr services to find data that you can turn around and sell. Please understand that you can’t just advertise online and people would line up to buy that data. Chances are high that you have to do direct outreach.
This may mean that you would have to hire a virtual assistant to research businesses that may be interested in the data that you’re selling and reach out to them. If you are extra proactive, you might want to hire call centers in places like the Philippines and India, who do outbound sales. Basically, you’ll just give them a pitch and phone numbers to call, and they’ll take care of everything else.
Usually when an actual human being makes the outreach and gets a voice-to-voice connection, your chances of unloading your digital assets go up quite a bit. You’re also able to charge a lot more money, but again, this is not a slam-dunk. You’d have to have data assets that people would actually want to buy. It’s anybody’s guess if you have that kind of assets so you need to do your research first.
Decide on what resellable asset you want to specialize in
Formulate tightly defined research and production steps
This is extremely important. You cannot let your Fiverr freelancer do creative thinking for you. They work best when you have a pre-set list of decisions and analytical points for them to follow. They just need to go step-by-step to get to the desired result. The less surprises, uncertainties, and discretion involved in the process, the better.
Contact top-notch researchers on Fiverr
Basically, you look for the type of services that is required to find this type of information or asset. The next thing is to look at the different researchers available. Look at their ranking, testimonials, and what people say about them.
At this point, it’s not a good idea to go cheap. Don’t look for the lowest price service provider. Instead, look for somebody who is worth the money. Sure, you may pay a little bit more. However, if your results are solid and you have a high chance of reselling that data or finding the right asset, then you have struck gold.
Get the asset compiled
I’m talking primarily about data assets here.
Reach out and sell
This is the most important part. Seriously. The previous four steps are nothing compared to this step. If you get this right, you will make quite a bit of money. If you get this wrong, you’re going to be sitting on an asset that is practically worthless. It only has potential value, but that’s the best you can hope for— potential.
To turn that potential into cold, hard cash in your bank account, you have to reach out and sell. Again, Fiverr comes in handy. If you are too shy, or you don’t have the time, or you simply can’t be bothered to do this, there are virtual assistants on Fiverr. If you’re looking for specialized services at their cheap prices, go to Cognoplus.com.
Regardless of how you do it, you need to have other people find your prospective buyers, get in touch with them, open the sale, and then you come in and try to close the sale. If the assets that you have gotten using this business model involve domain names, then you can place those domain names on auction websites like Flippa.