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EDIT: 2018 – I recommend you get my book Work Less Make More because it will help you achieve $5000 per week much faster
Video Highlights:
00:22 – Get paid first and then create. Avoid putting in work to make a product nobody wants.
02:16 – Six ways to make $5000 a week putting in two hours a day. Yes, it’s possible. James tells you how.
06:54 – How to keep your email list fresh. Prevent email fatigue with this tip.
Make your product creation efforts profitable with help from James
A big problem for product creators is when they build products and services that no one buys despite their best efforts.
“Get paid and then create.”
There’s an easy solution to this, which is simply putting the payment option up first. Get paid and then create.
Making money upfront with what you create
There are a number of ways to make this work. Take the person who pitches a workshop from stage. They get paid, and then they run the workshop. Membership sites are similar. You get paid a monthly subscription and then you deliver the content.
There are lots of models. What you do is, when someone asks you for something, you say, “Would you like to go ahead with that?” and then actually have them pay you, and then create it.
Create your product after getting paid for it
The worst thing you can do is spend time and energy building something that doesn’t sell. Read The Lean Start Up. It’s a great example of getting paid first. You can put together an offer and a payment option and get paid, and then create. You’ll get rewarded right away for your time and effort, and you’ll know with certainty that people are interested, because they’re voting with their wallet instead of a survey.
The trouble with surveys is that people often say one thing and do another. This is called preference versus performance. Beware of basing your future just on a survey. Most people don’t even know what they want until you show them.
Work with the existing demand
We once added packages to our website at the request of a customer. We put together a scope and asked them to pay for it. They paid for it, we did the job, it worked out great. So we made it available for other customers and so on.
That is the innovation curve that we have within our service business, looking for existing needs to earn extra money. You can do the same for your business. Once you start selling stuff, people will make requests. Ask them to pay for it and then roll it out.
Here are some business models you could do to make $5,000 a week with 2 hours a day:
Someone in SuperFastBusiness asked, “Can you make $5,000 a week putting in 2 hours a day?” The answer of course is yes. I in fact know you can make $5,000 a day putting in 2 hours a day. But that’s a different story.
I’ve answered that forum post with a bunch of answers and I’m going to give you the summary here.
1. You can do email coaching. This is where you can have a bunch of subscribers paying you a fee per month and you set up a helpdesk or an email coaching facility. You just need to be an expert in your field.
2. You could get started doing local business services. That is everything from websites, SEO, copywriting, heatmap tracking, conversions, images, design, banners, setting up an affiliate program, rolling out a podcast, setting up a YouTube channel, Facebook, social media marketing, Adwords…
There’s so many things you can help businesses with that they know nothing about. And you can easily charge 5 or 6 thousand dollars per month with a combination of this, and you really only need 4 customers a month to make it work.
I’ve been using that model for over 4 years, and it’s a winner. And you can scale it if you want to build a team.
If you don’t want to do all the services and the work, you could build in a supplier. Get someone to do the work and wedge yourself between the customer and the work. If you don’t even want to sell it, then get affiliates or a salesperson to do it. Now someone else supplies it, someone else sells it, and you are in the middle taking cut.
I built a business that did nearly $600,000 a year with this particular business model, before we did our own services. It’s totally viable and it’s something you can do while you have another job.
3. You can make a membership site. Create a forum or some kind of newsletter where you’re sending out information on a weekly, daily, monthly basis. People will keep paying. The thing is, you sell it once and then it just keeps billing. And most people will stick around as long as the value you deliver exceeds the amount you ask for. I’ve built several communities with recurring rent rolls that certainly exceed $5,000 a week.
4. You can set up an ecommerce store. Create a specialized store that just laser shoots into the market. You can take that market and use all your internet marketing knowledge about conversions and email marketing and content marketing and dominate that space for any product you want.
5. Be an affiliate marketer. Make extra money selling other people’s products for commission. That means you don’t have to worry so much about the sales copy, you don’t have any customer service, you don’t have to do research and development for products. You just have to promote. You just create and syndicate content that promotes the thing.
6. You can create information products. It’s so easy to get in front of a camera or make screencasts or PDF documents or audios and put them into a bundle and put a price on them and sell them. Upload them and they sell 24/7. You don’t have to do much after you’ve actually created them. You can get affiliates to sell them.
“Start with a minimum viable product.”
This is how you build up or snowball a nice recurring revenue. Is it hard work up front? Yes. Should you start with a minimum viable product? Yes. Get paid by somebody to do something and then scale it because then you’re onto a winner.
How do you keep people from getting sick of your emails?
The traditional marketer has this problem. They’ve been sending promotional email after promotional email, or canned auto sequences for a year. It’s pretty hard to keep that fresh.
I suggest you go to a news platform. Put out news. Speak to your prospects, speak to your existing customers and speak to your past customers by sending out a weekly news update.
It’s done wonders for my business. It’s what I talk about in the Own the Racecourse training, and I strongly recommend it. It’s probably one of the best things I’ve done this year in particular, is building a news platform. That way you don’t have to worry about people dropping off your list, because they stick around to find out what’s new.
News is educational, it’s interesting, and if you put good tips into your news then you can certainly recommend your other products. It’s a natural thing for you to do, a way to make people aware of what you have to offer.
I hope you’ve enjoyed these tips. Be sure to leave your comments on iTunes and YouTube. Thank you.
For targeted business resources and coaching, join SuperFastBusiness membership
Hi James. Re the business model where you wedge yourself in between the supplier (and potentially the seller), can you please direct me to where i can learn more about that? Thanks
Emma we discuss such things inside http://www.FastWebFormula.com (in fact you can ask me any question you like I’ll do my best to answer it). I make more than $5000 a DAY doing some of these models (combined).
Here are the rough steps:
It first starts with awareness that it is even possible.
Next you find a common group of people with a problem
Then you find a solution provider
Next you agree to buy wholesale from the supplier
Then you setup a selling system (website is ideal)
Collect the payments, and manage the customer (later you can get the end supplier to manager the customer via your support desk)
After that you pay the supplier
the evolution of this business model is to introduce marketing (affiliates or other)
Then bring the supply in-house if you think you can do better or want to own that type of business.
Great video James, useful tips I can really use at the moment. I am logging into traffic grab right now to check out those tips and re watch all the videos and put them into action.
Thanks
Akil
I am continuing to add more videos as we get more data. I have a few in pre-release just waiting for me to land in a quiet hotel. (Travelling today).
Dear Mr. Schramko,
I have about 6 or 7 domains. None of them are up, all of them have hosting space paid for them..and I know what markets I’m after and why…but I’m am so untechie it’s hysterical. This isn’t just a case of my not being able to code…it’s the whole shooting match. My question: How do I find reliable, reasonably priced techies who are willing to do actual work. I’m in the US and it seems like everyone here just wants to shine me on…and/or take me for a very expensive ride. I either get no answer, I think because I’m a small start-up, or I get some outrageous quote. I don’t speak any foreign languages and managing overseas workers is out of the question right now. I hoped that Reese’s Outsource Force would be the answer…but he wanted $2k and it was never going to updated. I just need an all round techie who can post content, manage a little SEO and work within a WP theme. Any ideas?
Thanks,
Quantella Owens
Quantella,
Great questions.
In your case (you dont want to manage an overseas worker) you are best to hire someone for contract work on an as needed basis. We do work like this at http://www.atlweb.com
You can have a quality WordPress website built (pre-done theme) for $199 and then we can do whatever you need using hours. My team built this site and over one thousand others so we are capable. We also run an SEO firm so you can be sure we know that topic as well.
Hey James,
The points about service businesses and packages are rock solid. That’s how I’ve ran my video marketing service business 2007 and it’s done over 6 figures without a dime in advertising. I only start the service package after I get paid an escrow deposit.
I’ve found that providing service packages gives more clarity to a new customer and they feel better doing business rather than saying that someone is an “all-in-one” company. If someone does provide “all-in-one” that should be a package too so at least the new customer can differentiate the key services.
Thanks for releasing the updated version of Traffic Grab. It’s all solid content.
James – I’m interested in your idea of creating a weekly news update for subscribers. However, do you really mean a news update from places like BBC, Yahoo news? Do people really want to know about all the depressing stuff out there? Or do you just select a couple of news items related to your niche? (there wouldn’t be much about Graphic Design in the news…)
Could you clarify this for me?
Caroline
Caroline, I mean like these videos. Only publish content that interests your customers.
Love your tips for 5k earning on low work hours. That’s information that certainly interests a lot of people! I’m pretty sure I’ve commented on itunes before so guess I need to go scout your youtube channel with some more comments LOL
Kimberly you are incredibly kind!!! thank you
Hey James, loved this episode, excellent content!
One question, you mention local businesses as your market. Could you give an example of 3 types of local businesses that would be the best to approach? Or is anyone with no online presence a green light?
I have met success with many local business types. You should make a list of every person you know and it will not take long until you recognise someone who has a trade (pest control, carpentry, electrical, plumbing, wardrobes, floor polishing) professional service (accounting, legal,dental) retail store (appliance, electrical, kitchen, spa, vehicle) who you can help..
and again you deliver.
Thanks for the tips mate.
TURN $6 INTO MORE THAN $6000 ON PAYPAL
Make money smart on paypal!Please read this text until the end to understand, it’s easy!Turn $ 6.00 into more than $ 6,000.00 Paypal
READING THIS COULD CHANGE YOUR LIFE! IT WORKS!
I found this on a bulletin board and decided to try it. Not
long ago, I was browsing the forums (or newsgroups), just like you are
doing now, and came across an article similar to this that said you
could make lots of money within weeks with only an initial investment
with Paypal for $ 6.00 ! So I thought, “What nonsense,” but like most of us, I was curious, so I kept reading.The text told me to Pour $ 1.00 to each of the 6 names and emails stated in the article. After this is done, put my name at # 6 on the list, and post the article in at least 200 newsgroups (There are thousands). Nothing else, only this and you win big money.So after thinking it over, and talking to a few people first, I thought about trying it. I
came to the conclusion: “I got to lose except the $ 6.00? I always
spend it on when I go shopping, eat lunch or going to the movies.” Then I invested the measly $ 6.00.The other day, I started getting money in Paypal. I was surprised! In my first week, I made about $ 70.00. At the end of the month I had made a total of over $ 2,000.00! In the third week I had over $ 5,000.00 and still growing. Surely I have spent much more on the lottery and never received anything like it! Let me tell you how this works is that most importantly, WHY it works … Print a copy of this article NOW, so you can read the information off of it when needed. If
you follow the directions of how it is said, you will start making
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your investment is only $ 6.00 IMPORTANT: This is not a scam, it is
not indecent, is not illegal and is 99% no risk – it really works! If all the following instructions are adhered to, you will receive extraordinary dividends.
ATTENTION:
Please follow these directions EXACTLY, and $ 10,000 or more can be yours in 20 to 60 days. This program remains successful because of the honesty and integrity of the participants. Please continue making the program a success by carefully adhering to the instructions. Here are the 4 easy steps to success:STEP
2: Write an email “PLEASE PUT ME ON YOUR LIST OF SHIPPERS” (Please add
me to your list) – in English – and put your name and email below. Now transfer the $ 1.00 Paypal – and send what you wrote – for each email list that follows:Note: if you give error when sending and only jump to the next email. Reason: Too many posts of deposits of $ 1.00
1) Rafael — [email protected]
2) Abu Nahapamehi — [email protected]
3) tche garotos —- [email protected]
4) Laura B. — http://mce_host/builder/oggba [email protected]
5) kyle c.—[email protected]
6) Ntobeko — [email protected]
STEP
3: Now take the # 1 name in the list and raise others (6 becomes 5, 5
becomes 4, and so on …) and add YOUR name to the email from Paypal as
number 6 on the list.
STEP 4: Try to keep your message as close as possible to this.Now,
post your amended article (or even that my) for at least 200
newsgroups (UOL says on their homepage there are over 20,000
newsgroups, find out there in the forum if you do not know) all you need is 200, but remember, the more you send, the more money you make! You
do not get very much unless you post like crazy (the best way to post
is to put as the title, which is visible to all, EASY MONEY IN PAYPAL
or TURN $ 6 INTO $ 6,000 BY PAYPAL, and content, select your text in
the block notes or wordpad and then copy put in the message being sent to the forums and newsgroups put paste. Single)
This is perfectly legal! Keep a copy of these steps for yourself and, whenever you need money, you can use it again. PLEASE
REMEMBER that this program remains successful because of the honesty
and integrity of the participants and by their carefully adhering to the
directions. Look at it this way. If
you are honest, the program will continue and the money that so many
others have received will come to you, because of its contribution to $
6.00.NOTE: You may want to keep all the names and emails of people who sent you money on a computer or recorded. So,
as each post is downloaded and the directions carefully followed, six
members will be reimbursed for their participation as a List.Your
name will move up the list each shipment so that when your name
reaches the # 1 position you will be receiving thousands dollarsRemember that you only invested $ 6.00 ($ 1.00 for each of the six people listed above).
DIRECTIONS FOR HOW TO POST TO NEWSGROUPS:Step 1) You do not have to retype this entire letter to do your own posting. Simply
put your cursor at the beginning of this letter and drag your cursor
to the bottom of this document, and select ‘copy’ from the edit menu. This will copy the entire letter into the computer memory.Step 2) Open ‘Notepad’ or something on the Edit menu and choose the option ‘paste’. This message will appear.Step 3) Save the file as. Txt.Step
4) Use Netscape, Internet Explorer or another browser and try
searching for various newsgroups (on-line forums, message boards, chat
sites, discussions.)Step 5) Among these newsgroups and post a new message in each AREA MURAL or something similar. Place
the cursor at the beginning of this message on your computer and drag
to the end of the document and select ‘copy’ from the Edit menu. In
part of the text to be entered for the message will be sent to the
newsgroup click the right mouse button on the field with the space to be
filled and put ‘paste’. As a subject or title, put something that catches my attention like or invent something.Send the message and voila, you just send your first message!Congratulations … All you have to do is go on other WALL (themes, areas, etc.). And do it again as much as possible (200 minimum)* REMEMBER, THE MORE NEWSGROUPS YOU POST OR TO DIFFERENT PLACES, THE MORE MONEY YOU WILL MAKE! BUT YOU HAVE TO POST A MINIMUM OF 200 *Ready! You will begin receiving money! If you wish to stay anonymous, you can invent a name to use as long as the mail is right for you to receive the money.* CHECK YOUR EMAIL! *
Now
the WHY you receive that money, we pessimistically say that the 200
messages I sent, say I receive only 5 replies (very low example). So then I made $ 5.00 with my name at # 6. Now,
each of the 5 persons who just sent me $ 1.00 make the MINIMUM 200
send messages to other different places, each with my name at # 5 and
only 5 persons respond to each of these five people (30 people
honestly participate in a total of 1200 messages to multiple people,
even a very low example), this is another $ 25.00 for me, now those 25
each make 200 MINIMUM posts with my name at # 4 and only 5 replies eachone of the 25 sent, I will bring over $ 125.00! Now,
those 125 people post the MINIMUM 200 with my name at # 3 and only
receive 5 replies each, I will make an additional $ 626.00! OK,
now here is the fun part, each of those 625 persons post a MINIMUM 200
letters with my name at # 2 and they each only receive 5 replies. It would get me over $ 3125.00! Those
3,125 people will also send this message to 200 newsgroups with my
name at # 1 and if still 5 persons per 200 newsgroups react, then I
will receive $ 15,625.00!
With an original investment of only $ 6.00! Incredible! When
your name is on the list you just need to send another $ 6.00 and put
your name at number 6 a new message is posted over 200 messages again. You
must remember that thousands of people are entering the Internet in
Brazil and worldwide and reading these articles everyday, just like you
now! You should Pour the $ 6.00 and see if it works? I
think so, some people said, “And if that does not give money? What are
the chances of that happening when millions of honest people like you
are joining this group? It is estimated that between 20,000 and 50,000
new people join Internet every day and go to the chat rooms and newsgroups!
Remember, play FAIRLY and HONESTLY and this will really work.REMEMBER, THE MORE YOU POST TO NEWSGROUPS, FORUMS AND DIFFERENT PLACES, THE MORE MONEY YOU WILL MAKE! *** *** GOOD LUCK AND ENJOY GOOD all the money you earn!!
THANK YOU!