So How to Make $10,000 a month?
Read this till the END.
For many, making $10,000 per month is not an easy task, even many seek high and low to get a job at $5,000 per month found to be very tough. Not talking about working from home and having your own free time having coffee with friends anytime you want and have alot of time enjoying with family members and kids.
Over here, let me share with you the steps, strategies, and mindset which I have gone through for the past years that is having this income of $10,000 per month.
Disclaimer: whatever I have written works for me and likely it will likely to work for many people, however, what I am sharing is the concept and mindset, the product and services offered will vary upon your preferences and your income will likely to vary upon many factors too.
Deciding You Are Going to Be Rich, in terms of money.
When I was young, yes very young at the age of 15 years old, I remembered that it was Secondary 3, I realized that I have a strong passion for money. Understand that money motivates me and I decided I wanted to get rich, very rich and realized that I cannot become rich if I were to work for people. So I have to sell something, to have a product or business that people will need it and willing to buy it.
Learning how to sell EFFECTIVELY (Seriously I don’t like to sell)
I know that in order to have more sales, I need to sell effectively, but I am not a salesperson and I don’t like to sell….SERIOUSLY!
But I told myself, why not just learn how to do it slowly, step by step, as long as I learn a little bit every day, 1 year, I believe I can accomplish plentiful, isn’t it?
365 X tiny improvement every day = 1 year, super improvement
That is to say, I need to learn HOW TO SELL, and also that means I need to learn how to convert every single lead to a sale, the ratio of conversion needs to be very high.
When I was at the age of 15 years old, I got involved with mail order marketing, learning from people in USA and see how they sell to other people, I gather bits and pieces from hundreds of “expert” and the “not so expert” from USA and gather the psychology of selling without me knowing how potent it can be in my next 25 years of business.
I apply them in ALL the business in ALL the sales material, I call it the WIIIFM method.
WIIIFM = What is it in for me.
So here is the sales pitch to you: The benefit of my product is …., …. and …. This is a typical sales speech.
It will not work.
Here is the WIIIFM direction:
How the product can BENEFIT you and make a difference in your life, or even ease your problem.
Everyone has a problem in some ways or even want to achieve something better, there is a desire for people to ask, what is it in for ME???
If I were to sell something based on what they need, I will have the same frequency as them. But if I were to sell something based on what I think is the best of the product or service itself, not very high chance the other party will be very willing to listen further to my presentation.
The same frequency with them = Building rapport with them.
Some use NLP to build rapport, it still can be done, but you need to be the same “PAGE” with the customer.
Using NLP without adding the WIIIFM method will have a lower chance of success.
WIIIFM + NLP + Some Salesmanship = Higher chances of Success in Sales.
Yes, in Sec 3 at the age of 15 years old, I have already learned what is call automation and massive reach out. The idea is, I need to talk to many people, reach out to many people at the same time to sell a product or service. I need a system, a software that can reach out to thousands of people, at that point of time, I was using email marketing, in the current year 28 Dec 2018, I am using SEO to reach out to tens of thousands of people without me doing anything.
We need to leverage what is available to reach out to the masses at the shortest time. That is called working SMART.
Anyone can become a salesperson, anyone can make good money, but here is the ONE SINGLE FACTOR separate the master “salesperson” and a normal salesperson.
I learn to give to others before I sell anything.
Many donkey years back, I remembered I referred at least 7-8 people who are looking to buy a new laptop to one laptop supplier. 6 months later, the same laptop supplier called me and asked me if I am interested to work on their website for the SEO, as they have decided to change SEO vendor. I told them ok…
6 months later, I help the company to reach the top 3 positions in Google in major keywords, they are very happy and making millions of dollars every year in the IT business.
They expanded and created another 4 brands. And automatically and rightfully I will be the person that helps to create their websites and do their marketing in SEO to rank their website to top 3 positions.
The same company operation director was so impressed with what I was doing and introduced his colleague father to me, who owns a car rental company.
In ONE meeting, I sealed the deal worth over $13,000.00 and I helped them to market all their cars out within 1 week of marketing via Facebook.
The boss of the car rental was very happy and one day he called me and invited me to meet his Group CEO, who owns a chain of restaurants in Singapore.
When I met with the Group CEO, he told me that the group chain of restaurant is suffering huge losses and need someone to help in their marketing, within the same day, I gave him the proposal and the Group CEO said go ahead with the proposal.
I was so surprised that the deal is sealed so fast. Either I am such a super salesperson or something else is there…
When I look back, the string of businesses that created so EASILY is because I GIVE before I receive. That was the foundation I have laid.
Remember the case where I referred 7-8 customers looking for a laptop?
That is the trigger point that leads to all the OTHER businesses that come in. Of course, you will need to be good in your delivery in terms of product or services and maintain a good relationship with the customers too.
Well, you might think that I am lucky to have so many deals, but not really true. I use the same GIVING technique in another case, here is what happened:
I received an EDM in my email from a regular customer that introduce their products and I realized that the method that they used is very bad and I approached the boss of the company who is about 30 years old and he told me that due to limited in resources and expertise, they can only produce such quality.
Then I told him, can I arrange a training session with your marketing team and teach them how to do it? (I am the expert in email marketing) It will take about 1 hour 30 mins, the most 2 hours. And yes, I told him, I will do it for free…..
And the training took place and all things went well, their sales actually were better after the training and customer experiences were much better and the boss was very very pleased.
One fine day, he told me that his younger sister, who is owning a restaurant (Which took over 2 million dollars to set up), need some services from my end, so I helped them too. After which the sister told me her father who is the top 4 office furnishing company in Singapore, is looking at my services and would like me to help him too…
So the father, daughter, and son become my loyal customer… and if you were to look back because I volunteer to teach the marketing team and spend almost 2 hours of my time on them….and it spins off to something greater….
And is all because I have the GIVERS MINDSET.
There are also many other cases related to how I have benefited exponentially using the method but I will save that for other sessions.
When I say play big, I mean, given a choice, sell a product or service that is higher in ticket value. Do not sell product or services that is 2 or 3 figures, it is simply more worthy and your time to sell is basically about the same and the ROI will be far much better. That’s why you will seldom see me selling a few hundred dollar items. For a start, I would need you to focus only on items or packages that is in thousands of dollars, once you get more confident, you will be able to go for tens of thousands, hundreds of thousands or even millions of dollars.
Let us do the basic first, focus on the thousands.
Get a Mentor
Well, you can also get someone who is more experienced that is willing to share their experience with you or you can also learn from books or YouTube. However, do be careful about books and Youtube, it is ONE WAY learning, you will not know what is the best, there is a need to test out what is good, real or useless and without a real mentor, you will also learn BOTH ways and you will be able to see YOUR REAL problem.
Creating a Product or Service
As I mentioned before, ideally create a product or services that you can price at 4 figures or above, then you can sell a few of them and you can reach your $10,000 -$20,000 sales per month. After which can outsource the service or creation of the product to one or more parties which are inexpensive. The product need not have to be “original”, it can be a product that is already in the market.
Take, for example, I am selling SEO Services, it is nothing new but here is the catch. Anyone was to talk to me about SEO, they will know that the depth of knowledge of SEO is so intense is that even people who are in the SEO industry also learned from me. I can don’t rank in the top 3 of Google and I still can get a lot of leads for the customers. I repeat that:
There is no need to be top 3 in Google to generate leads for customers, this is unheard of in SEO….
Inexpensive Product or Services
Take for example, when I sell a website design service, it will easily cost the customer $3,000 to $5,000 per website, so I can sell 3 websites per month, then I will be able to earn $15,000 per month in sales. (Assuming $5,000 per website)
But here is the problem, most people in Singapore will hire or outsource to a local Singaporean and it will cost alot and by the time the total cost is tabulated, it will be over $10,000+++ you will likely be left with about $3,000 or lesser.
This is a VERY BAD business model.
The ideal model is to get someone from India or other countries for website design, pay them a FULL-TIME pay of let say US$500.00 per month and let them handle 3 websites per month. You will be able to find someone who is very good at US$500.00 per month from India.
In this way, you will easily earn a profit of over $14,000.00. And this is really happening, last time I used to do so and I am teaching people how to make massive profits doing the same thing.
There is a huge difference between earning $14,000.00 in profits and $3,000.00, you will have an extra $11,000 per month to travel around the world!
Teachability index (TI)
TI = K x A
K = The Ability and willingness to learn new things
A = The Ability to take action without any interruption or excuse
Let me give you an example of how this TI works:
A student comes to me, learned from me 80%, so on a scale of K, his K will be 8/10.
He takes massive action, does not worry about whether it will work or not, just diligently do what is needed to be done, this “A” will be likely to be 9/10.
His TI = 8 x 9 = 72 index
After 2 years, the student is earning 2 million USD per year.
Another student comes to me, always asking for free advises and learned from me 10%, so on a scale of K, he will be 2/10.
He does not believe what I shared with him and believes he got a better system or method to make it work. His “A” is 2/10.
His TI = 1 x 2 = 2 index
Eventually, this person every year he is losing money and went bankrupt after that.
Student A: TI = 72, lead to earning 2 million USD per year
Student B: TI = 2, lead to bankruptcy
This Teachability Index is so powerful and it will give a very precise indication on where the person will land in years to come. The higher the TI, the better and successful the person will be.
So there you are, my formula to make $10,000 per month.
Bearing in mind that $10,000 is just a number, you decide how much you want to earn.
You are the creator of your life.
You will need to start a business, some cash will be good, pick some product or services, sell big ticket item, learn how to sell, marketing and make sure your cost of running is super low. Yes, not forgetting the giver’s mindset and with a very HIGH Teachability Index, you will be able to earn $10,000 or more per month easily.
To your success, I believe.
An article by Dougles Chan – Millionaire Business Mentor. Author of 8 books. 25 years in business coaching and business mentoring. Training business owners in Singapore, USA, UK, and Australia. He specialized business, sales, marketing, digital marketing, 360 recruitment process, SEO, SEM, and social media recruiting.