Two things amuse me most when it comes to making money online.
First, when people who don’t know how things work start yelling how it cannot be done. And yet, most of them spend $488 on average on online purchases each year. Multiply that by 2,200,000,000 and you’ll get the closer picture of how much money spins in online businesses annually.
Second, when someone says, “$1,000,000 is not what it used to be.” Well, that might as well be the truth, but it does beat the overdraft or having lousy $20 on your bank account, doesn’t it? If nothing else, it’s a good start.
But how do you make it?
Brace yourself! We’re gonna show you the step-by-step process of how to set the online business and make your first million on short notice – after this quick introduction!
What it takes to make the first million online in the course of, let’s say, 3 years or even less?
We are talking about the net worth here, and not about the annual income. Because the reality is: you can make $2M annually and still be down for $50M. It’s relative and that’s why the net worth is what counts.
Let’s break it down
To make it easier and more appealing, we’ll break that $1M into 365 equal parts.
That’s $2,739.73 per day.
It will be our benchmark for this training session.
Seems impossible?
How many recurring services do you pay for? How many people pay for that same service each month?
Or, how many items of $40 in gross value have you purchased last year alone? How many people did the same? Impossible my ass…
APPROACH #1 – Sell for a one-time fee
Build the product (quality is the name of the game here, as you know), and put the price tag on it. Let’s say $39.99.
There you go. You only need to find 69 customers per day.
Seems hard to achieve?
Let’s see…
Every day you get up and turn on your laptop, smartphone or whatever the hell you use to read the feeds and news, you are in fact entering the market of 2+ billion potential prospects.
Let’s repeat that one more time.
Over 2 billion potential customers. Every day!
It’s even hard to express the percentage of your 69 customers in that corpus.
Whatever you have right now in your house, car, or office, which is perceived as a junk and scheduled for the trash this evening, CAN BE SOLD to someone.
Organic waste? How do you think they make organic compost?
Broken smartphone? There are gold and platinum inside.
Broken metal shelf? Does recycling ring the bell?
Every product has its buyer; most likely plenty of them!
APPROACH #2 – Sell for a recurring fee
Again, build the service and put the monthly recurring fee on it.
Let’s go with $24.99 this time.
It’s some kind of the sweet spot because it doesn’t sound too cheap which could associate with a hoax or the poor quality, but it’s also not too much to pay.
We’ll now break that first million $ in 12 equal parts to see what happens.
Shit, it’s $83,333.33 per month.
It does sound like a lot, doesn’t it? And you have a service that makes you $24.50 per user, in that timeframe. That’s…I don’t know…around 3,402 active subscribers per month.
Still sounds hard to achieve?
Let’s apply a median global conversion rate now
And it’s steady at 3,8%.
We are talking about the median ratio of visitors/users/customers that will execute any type of buying action on a site they find trustworthy, credible and of personal benefit.
Hence, you need to animate around…
How much was it? Ah, yes, approximately 90,000 people to be sure.
Let’s split that number into 30 equal parts (days).
We get 3,000 per day.
Now, as much as it may appear, everybody can attract 3,000 people each day to his site, whatever or whenever it may be.
A supermarket in your neighborhood gets far more visitors per day. A low performing or a narrow-niche-oriented website gets 5,000 visitors per day.
Now you need to figure out the product or service
You have the numbers now. Each option has its advantages and downsides.
For instance, if you choose a recurring option, you need to pump updates relentlessly. If, however, you choose a one-time fee option, you need to build new products to keep steady increase of your incomes.
It’s time for some heavy brainstorming.
Remember: you don’t have to know how to program an application, for example. You pay the fiddler to do it for you. You only need a concept and the strategy.
What will you choose, it’s up to you. Nobody will do it for you. But, to give you a hint: start using the Internet in an adjusted way.
That is to say that you should search for the options because they are countless. You can invent something new or improve something already in use.
Now, it’s time to go into details, see the actual blueprint, and learn every single action step that will lead you to your first million – fast!
