25 Apr Ten Different Ways to Earn One Million Dollars
Today we’re going through a quick checklist, this is an interesting checklist, I like this one it’s called “Ten Different Ways to Earn One Million Dollars”.
Here’s the thing, isn’t that the benchmark? Use to be “hey we want to own a hundred thousand dollars” but of course as more and more people are earning that kind of income through their businesses, well where’s the next benchmark? Three hundred? Five hundred thousand? Why not just take it to the top, one million dollars.
So I want to give you today, and talk about some of these different options, 10 Different Ways to Earn 1 Million Dollars.
Now the most common, the one that most of us would know, is just to earn a salary. I mean if you got a salary, let’s say your earning $50,000 a year, well over 20 years that is $1 million.
Now I can some of you saying “Sorry, what..? $50,000 a year? Are you kidding me? I wish I could earn $50,000 a year“. Well I have two simple things to say for you on that thought, one is upskill and get a better job so you can, or two is start working for yourself. Maybe something on the side to make up some of the difference. So you can earn a salary $50,000 a year over 20 years and ”bang” you got a million bucks. But of course most of that is gone on living so that’s really not much good.
Here’s an easy one, let’s upgrade our salary, get someone to pay us a $100,000 a year, then over ten years … same old story, right? And this is why the entrepreneurial spirit exists and it’s so strong in most of us because we want to earn great income but we sure as hell don’t want to have to do it over 10, 20 years to be able to earn our first million. Would you agree with me on that?
So let us look at a few different options. Maybe if we stop working for ourselves and create a product that’s valued at $500. $500 and you get 5,000 people to buy it from you. That’s certainly possible. Who says it has to be in the initial products launch? Who says it can’t be over the space of the year or 3? One of my most successful products over the years “E-business Mastery” was priced around the $500 mark and the very first weekends sold over $50,000 and went on sell over quarter of a million dollars just in the first few months. And then trickles from there on out, so certainly possible to do.
But how about this next one? Find a thousand, not two thousand, but find one thousand people to buy a one thousand dollar product for you. This is where in that internet marketing style of things that have the small sort of top of the sales funnel price point and then there’s the up-sell and then there’s the up-sell. Now I don’t work in the internet marketing game anymore. I still get requests here every day. I work with small businesses.
So small businesses particularly, not for all of you, no but certainly some, of you is there not some kind of coaching program that you can put together? I mean $1,000 for a coaching program, that’s nothing. A 12-week program $1,000? No, a 12-week program minimum, $2,500, 3 or 4 perhaps, of course assuming it’s a good quality program.
Now there are, let me just get this off my chest, “the Guru’s” out there who will sell the shit out of anything and sorry rip you off by charging $10,000 plus. Yeah well just between you and me I’ve done some of those coaching programs, I’ve seen what their offering, sorry not worth it. They need to get back to reality and so do you if you’re wasting that kind of money on stuff.
Well let’s just go through the list. Let me make a few more simple suggestions. Maybe you could create a $42 a month membership or subscription product. 2,000 people, $42 a month over 12 months, just 12 months and there is the million dollar question right there.
Here’s another one down the bottom: how about a $278 product, or $278 of subscription in the services industry that’s easy to do over 12 months. Only 300 people and there’s the million dollars question answered right there for you.
So these are some of the things I want you to consider. What kind of business are you running? Is there opportunity for some coaching or some services subscription of some kind? Now I’m talking obviously about gross turnout over here, not net, not after cost and so on, but it’s a starting point. If you are really interested to find out more explore a little bit further, whether your selling your own product or somebody else’s, and just want to grab some more ideas to understand the numbers.
Well I like to invite you to stop by my shop at PaulBarrs.com/shop. I have a program in there called The 6-Figures Success System it’s not about how to, how to make: that’s easy you just create a product and you sell! “hhmmm” end of story. That’s what the Guru’s get you to pay 10,000 dollars for. Now what this Six Figure Success System is about is showing you how the numbers work. How the cost for putting those numbers together work. How you have to take out this cost and this cost and then showing you what you’re really left with. Hmmm that’s interesting. You can watch it in the space of having probably two or three cups you know, or couple of drinks in a short afternoon. PaulBarrs.com/shop and have a look for the 6-Figures Success System.
Thanks very much, I’ll talk to you again soon. Bye-bye.