Intro

When you think about hiring talent, you consider cost, quality, and availability. Under the cost structure, you think about a project rate the fractional executive would charge for their services, but rarely do you think about freelance marketplace fees. They can severely impact your search for the best talent.

On the other hand, if you’re a fractional executive, you’re looking for the best possible way to work with your (startup) clients. For that, you’re not willing to pay obscure fees some marketplaces have.

So, let’s examine marketplace fees and how they affect the relationship between fractional executives and startups (their clients).

Why marketplace fees matter

The most popular (and biggest) marketplaces are Fiverr, Upwork, and Freelancer.com. There are over 500 categories of work across these platforms and it’s a great way to connect talent with a company that needs their expertise.

As a business, you can quickly go on any of the platforms and find talent that would fill your skills gap and solve burning problems. However, all of these platforms come with their fees that can be significant and even cause the deal to fall through.

So let’s take a look at the numbers to see how fees from these marketplaces can affect deals:

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The benchmark amount taken was $1,000.00 for simplicity. However, the problem with these fees is multiple. For contracts that are for bigger amounts, such as the ones you will have with your fractional executives, these marketplaces take a percentage cut which can get pretty steep.

A fractional executive who has a $10,000.00 contract would have to give $1,000.00 in fees to Upwork or $2,000.00 to Fiverr. This is why marketplace fees matter. A fractional executive that has a big contract simply won’t operate via those marketplaces because their fee structure punishes bigger contracts.

On the other hand, businesses won’t be able to sign deals with fractional executives and they will lose the talent that they need. Also, the processing fees aren’t small even for businesses and the fees can quickly add up.

The truth is, the best talent out there isn’t willing to give such lump sums of their hard-earned money to marketplace fees.

Top-of-the-line executives will charge a premium for their skills and they won’t deal with such high marketplace fees.

This is where Hiper comes into play.

When you look at the table above, you can see that our fee structure is almost nonexistent (ACH charges a processing fee); We don’t charge talent any fees so the fractional executives save 100% of the money they earn. There are no hidden fees. On top of that, Hiper saves clients 34% on fees compared to Upwork.

Since we don’t charge a fee to talent, we save both sides 190% on fees compared to Upwork only; we don’t charge talent and clients save 90%.

But that’s not the only savings you’ll have with Hiper; there’s more.

How you can use Hiper to save on fees

With Hiper, you can really save on fees for multiple things that you need during the startup-fractional executive relationship:

• Instant Contracts. With our Instant Contract option, you can save more than $1,000 per contract. Hiper facilitates a tailored and mutually amicable contract agreement that both sides can trust and accept faster. There’s no back-and-forth, redlining, or costly legal fees; you simply focus on getting the work done and we deal with the back-end legal stuff.
• Invoice Automation. With our Invoice Automation, you save $50 on every invoice. We support an automatic invoicing workflow so you can focus on getting the work done without thinking if you sent the invoice or using an expensive invoicing tool. The client and the talent don’t need to lift a finger for invoices; it’s all done automatically.
• Free NDA. With our Free NDA, you save $500 right away. Our NDAs’ are easily customizable, instant, and legally sound (vetted by lawyers so you’re free to use them with confidence.)

Conclusion

When you use Hiper, you save a hefty amount on multiple things such as contracts, NDAs, and marketplace fees. The only thing left is to do the work; Hiper-fast with the right talent and the right company by saving a lot of money, time, and nerves in the process.