Business Plan for Freelancer Website Business Plan

Pages: 25 (6848 words)  ·  Bibliography Sources: 25  ·  File: .docx  ·  Level: Corporate/Professional  ·  Topic: Business

SAMPLE EXCERPT . . .

Before starting up a freelancer website, the owners will have to conduct a full-fledged environmental scan of the freelance business industry in order to operate the website in an effective and profitable fashion (Allen, 2012). The major environmental forces that can affect the business operations and profitability of freelancer website include political and legal forces; economic forces; social and demographical forces; technological forces; and the most importantly, Globalization and international competition (Ilasco & Cho, 2010).

Political and Legal Infrastructure:

Being an international freelancing services provider, the freelancer website will have to adhere to the local and international laws and regulations that govern freelancing industry. For example, it will have to pay taxes on its sales, technical services, software acquisitions, etc. (Entrepreneur magazine, 2012). It will also have to follow the regulatory guidelines regarding business expansion, business and marketing ethics. However, it will be exempt from industrial relations and labor laws because of its freelance employment services (Bangs & Henricks, 2005).

Economic Impacts:

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In addition to the business and marketing ethics and other legal and regulatory requirements, the freelancer website will also take an economic impact from the industry patterns, consumer behavior, inflationary pressures, unemployment levels, etc. First of all, the industry patterns will impact its sales and profitability in a way that the entrance of new freelancing websites will enhance the concentration of the industry at large (Longenecker, 2012). In this way, the customers will have more choices to choose a freelancing website which will be a negative sign for the company. Secondly, the inflationary pressures will restrict a large number of potential customers to get their projects done from third parties -- they will prefer to do these projects by themselves in order to save money for their other necessities (Brown, 2006).

TOPIC: Business Plan on Business Plan for Freelancer Website Assignment

Converse to these negative impacts, the rising level of unemployment can give a benefit to the freelancer website by attracting more and more writers, designers, and freelancers to join the freelancing industry and earn income for their living. Similarly, the bad economic conditions and poor wage rates also make a large number of capable writers to work part-time as freelancers. In order to keep its operations running smoothly and efficiently, the freelancer website will have to keep an eye on these economic impacts and strategize to transform them in favor of its business.

Social, Demographical, and Cultural Impacts:

The business growth of freelancing industry largely depends upon the social, cultural, and demographical patterns of the target markets. These factors impact its customer base as well as freelancer workforce (Belew & Elad, 2009). The customers from different regions have different consumption patterns, e.g. students and professionals in the developed regions of the world are more likely to take the services of freelancers to complete their projects as compared to the students and professionals from underdeveloped regions (Freelance UK, 2007). Reason being, the former have greater access to the freelancers and are more dependent on freelance writing and services industry due to time constraints (Longenecker, 2012).

On the other hand, professionals from underdeveloped and developing areas are generally engaged in only one profession at a time. Therefore, they have more time to complete their projects by themselves (Ilasco & Cho, 2010). The students in underdeveloped countries are also kept aside by their parents from doing jobs during their educational career which gives them time to do their assignments and projects with their own research and efforts. These social, cultural, and demographical impacts create opportunities for the freelancers to apply for part-time jobs at freelancing companies and earn handsome extra incomes (Brown, 2006).

Technological Impact:

The freelancing industry is largely exposed to the advancements in Information Technology and Electronic Sciences (Rich, 2008). Reason being, all the business operations, communication systems, customer relationship management systems, human resource management systems, databases, and technical processes operate through Information Technology and the Internet (DeWolf, 2009). In order to keep up pace with the changing market needs and serve its customers in the most effective and efficient way, the freelancer website will have to continuously upgrade its systems. It will have to give a big focus on its Research & Development and Marketing section so that it can find the most innovative, effective, and cost-efficient ways to serve its customers and manage its orders and database (Rich, 2008).

Competitive Analysis

Globalization and International Competition:

Globalization, Information Technology, and advanced communication mediums have made it easy for customers to access the international markets and buy their favorite products in a very convenient way (Brown, 2006). Since the Freelancer website is totally dependent on the internet platform which is connected to the Worldwide Web, it will have to compete with the other freelance websites at the Global level (Belew & Elad, 2009). There are a number of multinational freelancing businesses which have a huge customer base and a large team of writers, web designers, and other freelancers; for example, freelancer.com, guru.com, craigslist.com, Odesk, ELance, FreeIndex, vWorker, etc. (Freelance UK, 2007). These websites are the market leaders in the international freelance business industry with respect to revenues and business network (Lima, 2007).

Additionally, this new freelancer website will not only have to compete with the top Global industry rivals, but also with the small scale local freelancer websites. In order to operate competitively and profitably in this industry, it will have to carefully analyze the business policies, customer services, and marketing strategies of these competitor websites (Rich, 2008).

Learning Opportunities from the Competition and Industry patterns:

The freelancer website will have to look for learning opportunities from experienced freelance businesses which have been operating in this industry for a long period of time. These opportunities will enable it to have a closer look at the industry patterns and learn the tactics to deal with the environmental issues. The owners can learn how to make an impressive and customer focused website and make attractive revenues in a short period of time (Longenecker, 2012).

There are some freelancer websites which are engaged in more than one type of freelancing services and are making huge profits on daily basis. The new freelancer website can learn from these successful businesses and strategize for its future growth and development. Moreover, it can make partnership and strategic alliances with the well-established freelancer websites which can help it in promoting its business in the potential target markets.

Operational Procedures

Structure of the business and Hours of Operations:

The freelancer website is purely operational through the Internet and web-related services. The company will basically serve as an intermediary between the clients and the freelance writers, designers, and researchers. Ideally, the company should operate 24/7 and 365 days due to its large scale of operations which is spread around the Globe. Being a freelancer services provider, the company cannot even announce gazette holidays for its writers and freelancers, i.e. The customers can place orders whenever they want without being worried of festivals or holidays (Belew & Elad, 2009).

Pricing Comparison and Order Placement procedure:

For a client to place an order with this freelancer website, the first step is to review the available services and pay rates which it charges. This freelancer website will provide a chart for its clients they can review to look for the charges for every order according to its nature, length, complexity, and time span. If the customer is satisfied with the charges, he can place order on the website. The order placement procedure starts with providing all types of instructions in a pre-designed format on the website.

The customer has to fill an online form; provide his personal information and order instructions, and submit it to be included in the available orders database. The next step is to choose the payment method (Entrepreneur Press, 2008). This freelancer website will get the payments for its orders in advance to keep itself on the safest side and avoid financial risk. The customer chooses to pay through online fund transfer and takes his online receipt from the website (Lima, 2007). Some orders are just placed with a proportion of the total payment while rest of the payment is made after the completion of the assignment or project (DeWolf, 2009).

Assignment of Orders to the highest bidders:

Once the orders are placed on the available orders database, the registered freelance writers and researchers can review them and choose the ones which best suit their qualification, abilities, skills, and time schedules. The company assigns the orders to the first bidder or to the highest rate bidder depending upon the type of order and its payment method (DeWolf, 2009).

Payment Mechanism for the Freelancers:

The freelancer website will pay its writers, researchers, and designers through online bank transfers once or twice a month. The high performers will also be paid bonuses and pay increments upon the performance appraisals by the company's Management team (Longenecker, 2012). These bonuses and pay increments will… [END OF PREVIEW] . . . READ MORE

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