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As A Freelancer, Have You Ever Lost Your Own Money?



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As A Freelancer, Have You Ever Lost Your Own Money?

Let me paint you a picture of something I've done a million times..

When I were into social media, selling various packages for likes, subscribers and all that, I where using a "reseller panel".

Simply put, I bought the amount of likes I wanted and the panel made the deliveries onto the links I entered.

That said, I paid for the services myself before the clients got their deliveries. I charged a little bit more so I'd make profit. (this is pure reselling we're talking about.)

Anyhow, these panels comes with updates. Whenever a social media platform made changes the panels had to be updated. This affected my business many times in different aspects.

  • The panels didn't get updated quickly enough so I couldn't uphold my delivery time.
  • The panels increased their prices for the services I needed to buy.. Which made me earn less, and ultimately even lose money.


I can't blame anyone besides myself and I don't. This is not about that. But due to these circumstances, I ended up paying more for the services my clients needed than I earned selling them, as I already had orders from my clients before these changes where made.

I managed to keep my ratings and I never received any bad feedbacks during this time, as I contacted each of my clients and told them about this.. However, I did not only that. I also told each of them that they would get what they had order, as quickly as possible, without charging them a dime more! (How could I charge more when we already had a deal? I couldn't. Not in my book.)

I lost money doing this several times and my question is.. Have you ever been in a similar situation yourself? How did you handle it? Did you lose money from your own pocket?

And, just for the fun of it. Would you do the same thing and what should I have done different, in your opinion?


Best Regards,
hitmeasap

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MasterA
I haven’t lost any money, thankfully. I have resold services in the past and it has worked quite well. However, I have found that the prices of the resellers can be quite steep so I have to set prices quite high and this reduces my demand. Generally, I am quite careful with investing beforehand so I haven’t lost money as a freelancer. I think the important thing you have to do is be quick with adjusting prices and make sure that the gap between your price and the reseller price is bigger so you don’t lose money when the reseller price increases.



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hitmeasap
I totally agree with you and I'm glad you've managed to stay with the profits so to speak.. The main reason I lost money was due to my willingness to provide my clients what they had ordered. Even if that made me lose money, I gained both experience, recurring customers and also positive feedbacks which in the long run makes up for it several times. That being said, It did hurt to see my profits just vanish before my eyes like that.



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Barida
I have lost money as a freelancer, but I wouldn't say it is that big money for I just started working on that site newly before the scenario played out. So, I've learnt my lesson and found ways to get better at what I do online.



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vinaya
As a freelancer, I have lost mone when the client ran away without paying me or paid less amount that he had committed. I have never done reselling, however, sometimes when there is a work load I hire freelancers to work on my assignments. In doing so, sometimes I end up paying more to the freelancers than I am actually making from the clients.



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Corzhens
When I started freelancing, I was already given an orientation regarding scams and websites that do not pay. That was the time when the Bubblews exploded that’s why the issue of losing money was everywhere. And I am lucky to have friends to warn me. In fact, my first work was with ChatAbout, a forum that pays coins for every post. And I was so jubilant upon withdrawing my first $5 that I thought was not possible. After that, I was on my way to better sites that pay better.



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Kakashi2020
I've been a part time freelancer for some years now and I did lost some money when I did some local Dropshipping. The customers pay me first then I pay the Dropshipping company before they deliver the goods. Problem was some times the goods are not available and they would deliver a more expensive item so there are times that my profit margin would be negative by a couple of bucks.



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