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Small Businesses Making Big Bucks on Elance Marketplace

Sep, 2005  
SynapseIndia's ascent is no anomaly. A growing number of other providers based in the U.S. and abroad have earnings greater than $500,000 and hundreds are earning greater than $50,000.

Another provider with more than $500,000 in Elance earnings, TheNetMenCorp, is an Argentinean design firm that possesses a fanatically loyal clientele cultivated through the Elance Marketplace. The firm is able to provide the caliber of web, brochure, and logo design you would expect to find from a Madison Avenue agency, but without the steep price tag.

Brendan Moran, an Elance buyer, has great things to say about TheNetMenCorp. "We were looking for a website company to give us a professional look and feel at a price we could afford. Our decision to go with TheNetMenCorp was based on their portfolio, price and customer feedback," he says. The founder of Moran Global Trading, a California-based export company says, "Their customer service was excellent and, since we don't have much web experience, they walked us through everything and made changes where we needed them.

"Another top-rated provider, Steve Soto, is a self-employed graphic artist based in Los Angeles and has earned more than $100,000 using the Marketplace. His focus is solely on the design of logos and stationery. Happy Elance customers number in the hundreds and have garnered Steve a revenue stream that allows him a flexible schedule. "Elance is easy for me to use to locate new clients," Steve says. "I'm buying my first home thanks to developing my business through Elance and my income continues to grow!

"It is the high caliber and diversity of Elance service professionals that keep buyers coming back. More than 75% of Elance buyers return to use their favorite service providers or to find new ones to work with.

Connecting Businesses with Service Providers

Elance Marketplace offers a professional online environment for small and mid-sized businesses searching for other professionals nationwide or offshore. Instead of trying to source professionals through the phone book or searching the web, Elance provides a simple-to-use platform to match buyers with experienced, rated service professionals. Those requiring a service, a specific type of expertise or a deliverable -- such as a PowerPoint presentation or a website, for example -- describe what they need on the Marketplace. Service providers matching the skills required to complete the project then offer competitive price bids for the project.

The platform offers a broad selection of tools and functions that ensure all outsourcing needs can be met in one place. A popular feature for new buyers is the feedback and rating scores left by other buyers that have worked with the providers in the past. And once a buyer has selected someone they want to work with, there are helpful features to assist with contract negotiation, project management and payment. These types of tools help create ideal business relationships by taking the risk and worry out of the process of finding service providers online.

Fueling the Elance Economy

The fact that the first company to reach $1 million dollars in revenue is hailing from India speaks volumes about the worldwide prospects of the Elance Marketplace. Providers in virtually every imaginable business-related service have found Elance a useful tool to engage a world of buyers. And in turn, buyers are increasingly looking at The Marketplace as a new source for quality professional services.

About Elance

ElanceĀ® is the leading provider of e-commerce solutions for services. Elance provides a simple, convenient and automated way to find, evaluate, purchase, manage and pay for third party services and contractors, resulting in tremendous cost savings and increased compliance for buyers and increased customer and market reach for suppliers. Elance brands include:

- Elance OnDemand, an enterprise service, used by Global 2000 companies to manage their network of service suppliers and contractors for over 50 service categories including contingent staffing, IT outsourcing, and consulting services;

- Elance Marketplace, the world's leading web-based project marketplace, used by mid-sized and small businesses and services providers to connect and transact projects online;

- Elance Agency, is an online marketing agency, used by mid-sized and small business to purchase fixed-price, fixed-scope marketing packages.

Headquartered in Mountain View, Calif., Elance services customers and suppliers the world over. For more information on Elance, please visit www.elance.com.
Source: biz.yahoo.com

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