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Want to quit your corporate job? Want to have more time freedom, location freedom, and financial freedom?
Today we have a very hot topic, a complete guide on How to Make 10k A Month (online, obviously)!
I’m sharing this guide with you from real life experience.
From doing it myself and from helping all my clients and students achieve it as well.
I made my first 10k month in 2019, and since then I’ve helped hundreds of clients start and scale their online businesses and make their first $1K, scale to $5K, then $10,000 per month, and I’m really excited to be diving in and sharing how you can do the same.
For the past seven years now, I have been working full-time on The Wanderlover and I’ve grown it to multiple six-figures.
My whole business mission is to enable travel and freedom through online entrepreneurship.
The reason for that is because online products and services are the best way to make $10,000 a month fast.
Literally, all you need is an internet connection and a laptop.
So if you are tuning in right now and you don’t have an online business that is able to make you money, then this episode is going to be perfect for you!
Why an Online Business is the Fastest to $10k
If you want to make money online, you NEED to start a business.
This allows you to have full control over your income streams, instead of being dependent on an employer for a $10k/month salary.
The reason why online products and services are so superior is because of how low the expenses are for you to set up an online business.
There is no inventory, no overhead, like rent and utilities.
When I first started an online business in my corporate finance job, I was selling physical goods online and that required me to have inventory. It required me to deal with shipping and logistics.
With online digital products and services, you don’t have any of that.
Your profit margins are so much higher, and so if you’re just starting out, we want to make sure you are following the most tried and tested path with the highest chance of success.
So the first step is for you to start an online business.
💰 Learn How in the Wanderlover Business Academy
Why an Online Coaching Business is the Fastest to $10k
Next, I’m going to explain why coaching is the best way to make the most money in the shortest amount of time.
This is what I recommend to all of my clients who want to make money fast because it is simply the best way to do so in the beginning.
Scalability
Online businesses and online coaching businesses can scale, which means you are not confined to one location. You don’t have to show up for work somewhere in the world. You don’t have to be working for someone else and be asking for a $10,000 salary.
Basically, you make your own rules in your business, and this also applies to how much you can charge with coaching services or with 1:1 services.
You give your time, which is valuable because you can get your clients from point A to point B in the shortest amount of time.
If you set up a coaching package for $2,000. All you need is five clients in order to reach that $10,000 month.
If you offer a coaching package for $5,000, all you need is two clients.
Setting up an online coaching business also gives you the freedom and flexibility to work from anywhere.
Obviously I know this because I’ve been doing this since I quit my corporate job in 2017.
Impact
What I also love about this business model is that it is so freaking impactful.
You have the ability to change people’s lives all around the world.
I get messages every single day being like, I cannot believe how much you’ve inspired me to make changes in my own life!
All of these amazing things that can happen when you start your business and start sharing content to then reach your ideal clients and customers.
Ease of Set Up
A coaching business model is also very easy to set up.
You can start selling coaching services this week.
You don’t need to set up a website. You don’t need to design branding or logos. You can just start with the service itself and start selling.
I’ll teach you some of the tech like really basic tech later in this episode so that you can get started right away if you wanted to!
How to Find Your Profitable Niche
What we now have to do is to find your profitable business niche for you to enter.
I emphasize profitable because you obviously want people to be paying you, so you want to make sure that there is demand.
We don’t wanna start a business and then realize that no one needs this type of coaching.
First, ask yourself, where can you add the most value and help your clients the most?
Usually this comes from your experience, from your passions, from your expertise.
Maybe you have a corporate job and that is what you can transfer over to your own coaching business.
Maybe you have prior experience that now you can design a business around your clients will pay a premium to get results the fastest.
If you can capitalize on what it is that you can offer, then that is the fastest way to sign your first, second, fifth clients.
Profitable Niche Examples
For example, there are fitness coaches, relationship coaches, personal finance coaches.
Most of the time we see the most traction in health, wealth, and relationships.
These three niches often have people with the most pressing problems that they wanna get solved right away, and they are willing to pay a premium for.
The caveat is that if you have experience in one of these niches (health, wealth or relationships) but you don’t necessarily offer coaching services, you can still enter the market with a high ticket, one-on-one service where you are adding value for your time.
Let’s say you have experience editing audios and you teach yourself and brand yourself as a podcast editor.
That’s not necessarily coaching, but you can still use your expertise to enter the wealth creation niche because you’re helping other people make more money by streamlining their podcast editing workflow.
You are able to craft a high ticket offer or a high ticket package in order to get clients signed up for your podcast editing services.
Once you decide on your profitable online business niche that you are going to offer a valuable service in, we are then going to apply The Wanderlover Online Business Model.
How to Make $10k A Month
This is the key to making 10000 a month fast because you really have to understand that making money online is all a numbers game.
Business is a numbers game.
If you want to make $10,000 a month that looks like either:
- 5 clients at $2000
- 20 course sales at $500
- 500 ebook sales at $20
Those all add up to $10,000.
Of course, if you have multiple offers or services, you can reach that $10k a month with a combination of selling your products and services.
But if you are just starting from scratch, I’m going to assume that you don’t have an audience yet, you don’t have a product or service yet.
Which means in order to reach that $10k the fastest, you need to aim for getting those very few, the handful of high ticket clients versus trying to get 500 people to buy your ebook.
You’re probably not going to get 500 people to get your ebook in the next month if no one knows who you are.
And it’s just going to be a lot harder to get 500 people to convert than 5 people.
So if you want to earn $10k a month fast, we need to focus on the high ticket 1:1 services first.
🚀 Check out the Start Your Business Intensive
The Wanderlover Online Business Model
Depending on your timeline and how fast you want to be making and hitting all of these income milestones, you can start expanding to all of these other income streams under the same business.
- Starting with 1:1
- Expand into Group Programs (group coaching or round tables or retreats)
- Online Courses
- Ebooks
- Memberships
- Digital products like templates, bundles etc.
From a business perspective, 1:1 is how you’re going to get the most money in the shortest period of time, if that’s what you are aiming for.
But I don’t want you to think I’m limiting you!
Because over time, we are going to build out all of the above for maximum profits and passive income in your online business.
Get Your First Paying Clients
I often recommend starting with a 3 Month Coaching Package or a 3 Month service retainer, so three months of fitness coaching, nutrition coaching, business coaching or relationship coaching, or three months of podcast editing etc.
Once you have your 1:1 coaching package or service created, we are going to focus on getting your first paying clients.
We’ll want to focus on is getting your service and expertise in front of more and more and more people every single day.
When you have that service created, we want to tell as many people and find as many people who need our services as we can on a daily basis.
Announce to Warm Audience
The first way is to get your friends, family, existing circle, and existing audience involved, simply showing up and identifying as an online business owner with services to sell.
Introducing and branding yourself as a relationship coach or a business coach or a podcast editor.
Word of mouth is very, very powerful.
Use Social Media
The second way is to utilize and harness the power of social media.
There are two ways to do this on any social media platform (Instagram, TikTok, Facebook, YouTube, LinkedIn).
You can either create content and add value, whether that is posting on your own feed or finding targeted Facebook or LinkedIn groups, pages, places where your ideal clients hang out and offer to add value there.
Or you can directly message DM your ideal clients, create a relationship and ask if they need your services.
If you’re just starting out, the best way to do this is to connect one-on-one with potential clients.
I recommend focusing more on this push marketing than what I call pull marketing, which is creating content and having people come to you.
There is a learning curve to content creation, so give yourself time to learn how to create optimized content for that specific platform.
For example, YouTube videos, it takes a few videos and a few learning curves in order to get it so that more and more people see it.
There’s also more time involved, which is usually the case for a lot of the platforms.
If you wanna make $10,000 in a month fast, you’re going to want to stick with the most tried and tested strategy, which is guaranteeing people see your business by directly messaging them.
Using Digital Marketing to Scale
The other way we can get as many eyes on your services as possible is by utilizing digital marketing.
Facebook Ads and Google Ads.
You are paying to show an advertisement of your services to your ideal clients.
This is by far the most powerful way to guarantee targeted people are seeing your offer and signing up.
You can also run ads to your other products and services, so it doesn’t have to be 1:1 because you can control what the budget is and how many people see it.
Hypothetically speaking, if you have $20,000 to invest into ads, and you can score a 1.5 return on ad spend (ROAS), you will make $30,000 in a month and $10,000 of that be profit.
Depending on how savvy you are in the online space, how savvy you are with tech, this is definitely possible because you can just invest all of that money and optimize for return on ad spend!
Online Systems
Next, you’ll need to set up systems online that enable you to have discovery calls with potential clients and also to have calls with potential clients.
You can do this very easily by going to Calendly.com, it’s free to sign up.
Create an event specifically for people to be able to schedule a time with you, to be able to ask any questions, and see if your program is the right fit for them.
You don’t always need a discovery call before signing on clients.
However, if you are promoting yourself online and people don’t know you that well, it’s always great to have this option.
You can get my Discovery Call Script here for free.
The other option that many of my clients are using, and it’s also very easy to set up, is Stan.store.
I’ve never personally used this, so I can’t speak about my experience on it.
But I do know that behind the scenes, it is very user-friendly, it’s very affordable, and you can sign up for a low monthly price and be able to test out all of their checkout and booking options.
It’s all very streamlined and they have a free trial, so you can test out if it works for you.
Lastly, you’re going to need a platform to be able to have your coaching calls online.
I recommend Zoom or Google Meet.
And there you have it. Once you have your business, your high ticket coaching offer, your marketing down and your online systems set up so that you can execute the coaching, you are on track to make your first $10,000 a month.
It just takes a few clients and is so, so possible when you fully commit to it.
If you wanna get started, I would love to invite you inside the Wanderlover Business Academy, an online course where we teach you exactly how to set up your online business and get clients and customers online so that you can work from anywhere.
If you’ve enjoyed this episode, it would mean so much if you could leave a review on Apple Podcasts. This helps us spread The Wanderlover mission to those who need a dose of inspiration today.
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