The realities of earning $10,000 + a month online or in business in general
- Thread starter GT777733
- Start date
2 Cool 4 U
Woodpecker
GT777733 said:
But then one person is in control of your source of income, and can cut you off at the drop of a dime. And you have no money coming in until you find another job or start a business.
2 Cool 4 U said:
Every man (and person in general) needs to get to a point where they understand and accept three things about employment and finances:
1. You should have a savings fund (I suggest 10 to 20k) for emergencies such as health and unemployment related events that will tide you over in case you need to live off savings for a while
2. You should start working on a second stream of income today. Whether that is active (a side hustle) or passive (bank interest, investing, assets etc.), or both. Having one income stream is not wise the older you get
3. If you are put out of your job that easily - you are either in the wrong industry or you aren't valuable or skilled enough to your company. My advice would be to find an industry that you thrive in, you have some strengths in/you feel competent in, and you want to become really good at. Immerse yourself in that industry, up skill yourself as much as possible and push for really good results. If you get results in your job, it is insanely easy to get another job if you put these results on your CV/resume. Once I started doing this - I was never out of a job - I had companies competing to employ me. I should note though that I went through several different industries before finding marketing and business - so there can be a lot of failure involved before you reach this point
My three notes on the above are:
1. You can't go out and become really good at what you do or build up significant second streams of income over night. Like everything worth it in life - it takes time. So, have a long term mind set and be patient to see results
2. Sometimes a company can outsource entire departments overseas to cheap labor, or you really do just get unlucky with becoming unemployed. This is why picking the right industry (with lots of employment opportunities that you can go to if one goes bad), and becoming good at what you do is so important
3. Do you have to do what I said? Of course not. If you want to spend your time just counting down the clock at work and just getting by for average effort, and playing video games, watching movies/Netflix, travelling, chasing girls or doing other things with your time - that is a choice every man has the freedom to make himself. BUT, if you don't want to sacrifice and spending time doing things you don't want to do, you don't have right to complain when things don't go the way you want them to, or you never feel like life is turning out how you want it to.
Pick a balance that works for you, and live with the results.
It's not always one or the other too. Once you build up finances and experience and momentum with your career and money - you have minimised your risk going forward and you can spend more time doing things you really want to do as well
I think this thread could demotivate a lot of people.
I do online business I don't even have to get out of bed and make 12-15k in monthly personal income. It took me a few years to get to this stage but I didn't have to grind alone for 12+ hours a day. I basically worked a standard work day often times in the company of friends on the same journey.
This income is likely to last at least a few more years (business is still growing) and I will probably sell at some stage which should earn me around a 500k payday.
If you have to grind hard for several years to get to 10k a month it simply means you have chosen a difficult/low profit business model. The guys that I know grinding away and working much harder than me aren't doing it to make 10k a month... they are making 100-300k a month or building an asset that can be sold for 8+ figures.
Content based businesses are always difficult. I recommend selling information products, productized services, print on demand, branded eCommerce, high ticket dropshipping, software, affiliate marketing, lead gen (depending on where your proclivities lie).
I do online business I don't even have to get out of bed and make 12-15k in monthly personal income. It took me a few years to get to this stage but I didn't have to grind alone for 12+ hours a day. I basically worked a standard work day often times in the company of friends on the same journey.
This income is likely to last at least a few more years (business is still growing) and I will probably sell at some stage which should earn me around a 500k payday.
If you have to grind hard for several years to get to 10k a month it simply means you have chosen a difficult/low profit business model. The guys that I know grinding away and working much harder than me aren't doing it to make 10k a month... they are making 100-300k a month or building an asset that can be sold for 8+ figures.
Content based businesses are always difficult. I recommend selling information products, productized services, print on demand, branded eCommerce, high ticket dropshipping, software, affiliate marketing, lead gen (depending on where your proclivities lie).
Slightly off topic, but right thread...
Anyone got any experience offering email marketing?
Anyone got any experience offering email marketing?
What @skptc said. Are you still grinding as much as you did even a year ago? I didn't have to go through that myself when I first started but everyone is different and we all take a different path. Some get lucky and chose a more profitable niche etc...
You mentioned you don't have employees. Maybe now is a good time to outsource. I have a programmer friend. He makes 15k/month as an employee and he didn't have to sacrificed his dating life or slumping it out. My point is, its fine to grind it out when you first started but after a couple years if you're not scaling and be more hands off and enjoy your life. What's the point?
You mentioned you don't have employees. Maybe now is a good time to outsource. I have a programmer friend. He makes 15k/month as an employee and he didn't have to sacrificed his dating life or slumping it out. My point is, its fine to grind it out when you first started but after a couple years if you're not scaling and be more hands off and enjoy your life. What's the point?
skptc said:
The major difference here is that those business models usually require a substantial amount of capital.
The guerilla model of content+traffic=income is something everyone can do with no expenses except hosting.
I'm not sure how many make it into full time income in the fields you mentioned, I'd think the success rate is even less than content based business, however there's probably more people who make 5 figures within 1-2 years.
interesting thread
Capital helps no doubt. But most online businesses can be started optimally with 20-50k which can be saved up in a few years. I saved up this amount working in the military for 4 years living super frugally.
I am not saying more can't help and speed up the growth curve but it is not absolutely necessary.
All of the business models I stated require very little capital in fact (except for software if you are non-technical). Even ~10k is enough as long as you have some available credit for scaling your ads. If you don't then you can easily find someone to finance your ads after you have some traction.
I started my software business with $0. I convinced a developer friend to work for equity and getting paid the first $XX,XXX in revenue.
There is always a way.
I am not saying more can't help and speed up the growth curve but it is not absolutely necessary.
All of the business models I stated require very little capital in fact (except for software if you are non-technical). Even ~10k is enough as long as you have some available credit for scaling your ads. If you don't then you can easily find someone to finance your ads after you have some traction.
I started my software business with $0. I convinced a developer friend to work for equity and getting paid the first $XX,XXX in revenue.
There is always a way.
nomadbrah said:
Easy_C said:
Its experience. It seems to always be what I end up making on a good day and what I've come to estimate when I'm estimating a price for a job. I'd could also say $40 per hour. If you want a data derived number... generally when estimating the cost to do a carpentry job, where I'm from, its standard to double the cost of materials plus ten percent. I used that formula long enough that I learned I was always making $500 a day, give or take.
Easy_C said:
Its experience. It seems to always be what I end up making on a good day and what I've come to estimate when I'm estimating a price for a job. I'd could also say $40 per hour. If you want a data derived number... generally when estimating the cost to do a carpentry job, where I'm from, its standard to double the cost of materials plus ten percent. I used that formula long enough that I learned I was always making $500 a day, give or take.
skptc said:
I did say in my original post that this is just my experience with my own strengths and limitations.
It's impossible to compare two journeys - no two people, situations, the decisions they make, some of the luck they get along the way etc. are the same.
I did see in another reply you said it took you 4 years to save your capital working your military job. I'm not sure you used all of it - but I'd consider that part of your journey to add to your implementation stage.
I've done what I've done with no capital (only time) in 3 years. That was my choice.
That doesn't make me better.
It's just one example of probably 100's of variables that if you compare our journeys side by side, they would look extremely different.
I do think if you took an average guy off the street, who knows absolutely nothing about marketing or business, and knows no one. And, let's say he works an average job. He probably also has a lot of limiting beliefs/mindsets, a few shitty habits, and probably also is renting or living with his parents - and you said to him "tomorrow I want you to try to make 15k a month within the next 3 years" - the VAST majority are either not going to get past the first few months, let alone the first year, because there's so many changes (and some sacrifices) to make which can grind you down.
Even if it doesn't emotionally affect you (you don't go through depression etc.) - I know plenty of people that have come into online business, pumped 10, 20, 30 k into buying websites and/or content, links, courses, you name it, and haven't broken even - because they gave up or they just expected things to happen or they just followed the wrong people (or a number of other reasons).
I also know guys making in the millions and every single one of them at some stage has gone through bouts of feeling shitty or losing motivation. The most successful guy I know, making in the multiple of millions, is currently seeing a psychologist to deal with mental stuff that has resurfaced from BEFORE he started online business. He's an A type personality, super positive guy - I never would have known unless he told me.
Once again - I have no idea of your situation, who you met along the way (and when), what knowledge you got access to, what events you went to or what courses you took or what groups you joined, what your natural personality and problem solving level is etc.
But, you're definitely the exception if you got through it all completely without any major problems or challenges (even the ones you can't account for like personal health or problems with friends and family, and even breakups).
Good on you for making it work.
It's equally as important for people to read stories like yours as well as stories like mine - whether they fall somewhere in between, or more towards yours or my experience.
Stickman said:
If there is one thing I know I need to implement in the future now I know what my income stream and personal bank account looks like, it's outsourcing/bringing on employees.
I was hesitant to do it before now because I wanted to guarantee my personal financial situation first (my maximising profit in the first few years), among a few other reasons.
That's a personal choice that has definitely worn me out more than say for example someone that outsources everything sooner.
One note on outsourcing though - I do think you need to want to spend the time to get the right people in, and keep them.
Plenty of people I know have had problems with getting employees or outsourcers in that do quality work and are reliable.
That's a whole other topic though.
Can anyone recommend a good forum about making money online? BlackHatWorld a few years back was really good and the best one I know now is the Entrepreneur subreddit which is ok but people are generally quite vague and cliche and "politically correct", not really talking about the real issues and methods.
nomadbrah said:
I get that but I'm in some niche groups but they are too niche to be that useful. Having a more broad range of topics and people from different backgrounds can open your mind to methods and attitudes that none of your peers (who would be in a more niche group) are thinking about. Their advice of what works in their industry can often be applied to yours but you're going to be too tunnel visioned to realise those things if you're just in a facebook ads group or a crypto group or affiliate marketing group or whatnot. A broad forum with one common interest is actually a great thing.
testos111
Robin
While a lot of what has been said is of course true, I just want to say that don't let that discourage you into not even attempting it.
I recently released my new information product (an in-depth video course related to photography) and the excitement of getting sales after sales while you are sleeping/working out/having food is just amazing and beats any other feeling out there.
This last Saturday I was out on a Tinder date and my phone was blowing up with sales and more sales. We would order wine and the cost would be recovered as soon as it arrived on our table thanks to these passive sales I was making. I would say after 5 years in the online (mainly) entrepreneurship game, this was kind of pleasantly surreal for even me since most of my success in the past was based on services and not products. For the first time in my life, I'm kind of getting the taste of what passive income feels like. I still have to provide customer service but that's nothing but an exchange of one-two emails, that too with only some customers. I may not be making an absolutely crazy amount of money but if my products keep performing the way they are, I'll be on the road to making most of my money relatively passively and be able to give up the services part of my business, especially considering my frugal lifestyle.
I'm not bragging. Just pointing out that yes it's tough. The 4-5 months it took me to make this information product were fucking painful at times and at least 4-5 times during the course, I really thought I was not going to finish the product. But I would wake up the next morning and it would all seem fine and I would start again.
In my last five years at Rooshvforum, I've mentioned this quite a lot but I'll do it again. One of the things that keeps me going during the tough times is that I LIKE WHAT I DO. So no matter how tough it gets, at the end of the day, I'm still doing what I like doing. I see most guys out there ignoring this point because it sounds a little melo/feminine. But that's the biggest mistake you can make. At the very least you should never start something you hate just because of the money/less effort involved.
The most recent example I can give is of the Dropshipping business. After I started the Facebook advertising thread here, I started getting so many messages form the guys here asking me to check their "business website". All I've ever seen in a website that is so unprofessionally made with zero hint of branding and zero business sense. But why are so many people doing it? Because it sounds an easy way to make money without having responsibility. The same is the case with affiliate marketing to some extent.
If you are professional about things, aren't doing something to take the easy way out, willing to start a PROPER business especially with your OWN products/services, then there is no reason why you can't succeed. Trust me it's actually easier than doing a job for someone else. Just do it the right way.
I recently released my new information product (an in-depth video course related to photography) and the excitement of getting sales after sales while you are sleeping/working out/having food is just amazing and beats any other feeling out there.
This last Saturday I was out on a Tinder date and my phone was blowing up with sales and more sales. We would order wine and the cost would be recovered as soon as it arrived on our table thanks to these passive sales I was making. I would say after 5 years in the online (mainly) entrepreneurship game, this was kind of pleasantly surreal for even me since most of my success in the past was based on services and not products. For the first time in my life, I'm kind of getting the taste of what passive income feels like. I still have to provide customer service but that's nothing but an exchange of one-two emails, that too with only some customers. I may not be making an absolutely crazy amount of money but if my products keep performing the way they are, I'll be on the road to making most of my money relatively passively and be able to give up the services part of my business, especially considering my frugal lifestyle.
I'm not bragging. Just pointing out that yes it's tough. The 4-5 months it took me to make this information product were fucking painful at times and at least 4-5 times during the course, I really thought I was not going to finish the product. But I would wake up the next morning and it would all seem fine and I would start again.
In my last five years at Rooshvforum, I've mentioned this quite a lot but I'll do it again. One of the things that keeps me going during the tough times is that I LIKE WHAT I DO. So no matter how tough it gets, at the end of the day, I'm still doing what I like doing. I see most guys out there ignoring this point because it sounds a little melo/feminine. But that's the biggest mistake you can make. At the very least you should never start something you hate just because of the money/less effort involved.
The most recent example I can give is of the Dropshipping business. After I started the Facebook advertising thread here, I started getting so many messages form the guys here asking me to check their "business website". All I've ever seen in a website that is so unprofessionally made with zero hint of branding and zero business sense. But why are so many people doing it? Because it sounds an easy way to make money without having responsibility. The same is the case with affiliate marketing to some extent.
If you are professional about things, aren't doing something to take the easy way out, willing to start a PROPER business especially with your OWN products/services, then there is no reason why you can't succeed. Trust me it's actually easier than doing a job for someone else. Just do it the right way.
Any tips on traffic? I've got a good product, and have been putting out good ads on Fb, but getting nothing but a trickle...
Also doesn't look like Insta shout outs are going to work out.
Any ideas on what's working now?
Also doesn't look like Insta shout outs are going to work out.
Any ideas on what's working now?
