How to Make 6 Figures Online - A Post You'll Need

Precisely the inspiration that I needed during a transitional phase where I'm trying to figure what to do next after having had one majorly successful and multiple failed ventures. Thank you!
 
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t2van said:
But that digital business has to be service based then rather than product in order to "make 100k" but then I would argue if it's a business there is still costs involved either services, meeting clients etc so in order to "make 100k" online you still have to be selling or turning over more than that figure no?

Like you said there are a 100s of different situations and scenarios to each I just don't think a broad sweeping statement of make 100k online is that 'easy' or has a fixed time frame.

Digital businesses run by 1 person are high profit. There's no need to make a distinction between turnover and profit. Yes there is. Do you not pay any bills in 12 months or have any costs then?



Well no because like I said "profit" for a $1mil/year business my salary could be taken out, costs for running that business, stock, office space, services what ever it may be. What ever is left after all them bills is my profit.

So if I have a high wage bill, high service costs (servers) or whatever it maybe as long as everyone is paid including me and money is the bank then how is that a poor business or a nightmare?

Like I said there is a difference between a turn over and profit. Profit is after all your costs.


In my opinion having a business doing a 100k a year vs having 100k in the bank after a year are TWO different things.
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I understand the difference between profit and turnover. I do my own corporate accounting. I don't bother using an accountant. I understand the difference between amortization and depreciation, intangible assets, tangible assets, the capitalization of intangible assets, recurring journal entries to amortize yearly operating expenses monthly and more. Not to boast, but just so you're aware I'm not someone who doesn't know the difference between profit and turnover. :)

But these are all massively over-complicating things.

Taking a salary out before profit for example is definitely over-complicating things for a 1 man company. If you're making $100k/year and taking out a $90k salary, you wouldn't say your business is making less than 10% net profit. :) Technically, for accounting purposes if you are operating with a ltd company or equivalent then, but for practical purposes, the gross profit for a 1 man company is the important figure.

The other things you stated, let's go over them.

Office space: Not needed for a 1 man company and not needed for the vast majority of other companies. There are billion dollar companies where 1000+ staff all work remotely. It actually has a lot of advantages and with modern business tools being in the same room is just an annoyance for most people. That's getting into another philosophical discussion, but for a person who's making nothing and going to run their first digital business, they should not be renting any offices.

Services: What is so expensive that's going to eat up 70%+ of your turnover? $50k/mo of services?! :)

Travelling to meet clients: This is not a big cost. Taking your car a few miles into the city. No one needs to be travelling 1000's of miles to meet clients. That's not the norm. And even less so for a digital business. If it's a client based business you talk to them on the phone.

servers are not that expensive. Again, what servers are going to eat up your costs for a $1mil business? Unless you're trying to be the next ahrefs your server bill won't be much. A 4GB linode is $20/mo. I've had 4GB linodes handle 100 hits per second. Most businesses really won't need more than a $5/mo linode for quite some time. Even if you need some serious hardware, a few hundred $ gets you a LOT of cloud goodies.

Where businesses are spending money is offices and staff to fill those offices. Many businesses have TOO MUCH staff and it's all inefficient. I've seen web design companies who have php guys, ruby guys, javascript guys, animation guys, and they might have 1-2 clients that need ruby. If they cut down they could go from $1mil/year and 10% profit to $300k/year and 60% profit with less work/headaches.

A business doing $1mil/year should have 30% net profit margins or 0% profit. Anything less is a waste of time. If you're making 10% net profit at $1mil/year, you won't magically turn that into a healthy $25mil/year company.

And lastly, about services vs products. For digital businesses most will be doing either services, info products, software products or affiliate marketing.

If you are drop shipping or keeping your own inventory, then yes you'll think more in terms of gross profit. But none of that really matters. I'm not talking about $100k per year for a drop shipping company where gross profit is 20% and your net profit is like 12%.

I'm talking very casually, but if you want to be more specific, then I'm talking about $100k/year in GROSS profit and I'm saying for most digital companies the difference between gross profit and turnover isn't so much that at this stage, and with the point I'm making the distinction needs to be made.
 
mohdqasim said:
I tried this in the past two years with print on demand, built up a POD Shopify store, kept running ads through FB and paying Shopify fees every month and finally shut down the store few weeks ago and the journey ended up with a loss of around $6K :)
However, i don't want to give up and would like to get your advice on starting a new journey with an investment of $10k or $15K, what you recommend to start with?
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You're in a waaaaay better position than most. 2 years of experience under your belt. And over the whole 2 years you lost $6k? Was that after a salary? Either way, much cheaper than a college education.

Why would you give up! You're already way ahead of the game.

What you first need to do is look back on your business and try to understand why exactly it didn't work out.

What were your figures like. Costs, advertising costs, return on ad spend after 1 week, 1 month, 3 months etc. Were you building a list, did you have repeat customers, were you using front-end funnels? Were you using email funnels? Break the whole business down and pinpoint what went wrong and why before moving on. After that your next business should probably be another shopify store since that's your area of expertise. Research some different things you can sell and potential markets and put together some campaigns. Usually the failures revolve around the facebook ads/funnels. Either ineffective targeting or not using funnels correctly. You have to do more than just build 1 funnel, you have to test multiple funnels and be *constantly* refining them.

Maybe look into youtube ads. It's easier than fb just now. Less competition. Facebook is easier to get a small/targeted campaign going. Youtube is easier to scale big.
 
splishsplash said:
I understand the difference between profit and turnover. I do my own corporate accounting. I don't bother using an accountant. I understand the difference between amortization and depreciation, intangible assets, tangible assets, the capitalization of intangible assets, recurring journal entries to amortize yearly operating expenses monthly and more. Not to boast, but just so you're aware I'm not someone who doesn't know the difference between profit and turnover. :)

But these are all massively over-complicating things.

Taking a salary out before profit for example is definitely over-complicating things for a 1 man company. If you're making $100k/year and taking out a $90k salary, you wouldn't say your business is making less than 10% net profit. :) Technically, for accounting purposes if you are operating with a ltd company or equivalent then, but for practical purposes, the gross profit for a 1 man company is the important figure.

The other things you stated, let's go over them.

Office space: Not needed for a 1 man company and not needed for the vast majority of other companies. There are billion dollar companies where 1000+ staff all work remotely. It actually has a lot of advantages and with modern business tools being in the same room is just an annoyance for most people. That's getting into another philosophical discussion, but for a person who's making nothing and going to run their first digital business, they should not be renting any offices.

Services: What is so expensive that's going to eat up 70%+ of your turnover? $50k/mo of services?! :)

Travelling to meet clients: This is not a big cost. Taking your car a few miles into the city. No one needs to be travelling 1000's of miles to meet clients. That's not the norm. And even less so for a digital business. If it's a client based business you talk to them on the phone.

servers are not that expensive. Again, what servers are going to eat up your costs for a $1mil business? Unless you're trying to be the next ahrefs your server bill won't be much. A 4GB linode is $20/mo. I've had 4GB linodes handle 100 hits per second. Most businesses really won't need more than a $5/mo linode for quite some time. Even if you need some serious hardware, a few hundred $ gets you a LOT of cloud goodies.

Where businesses are spending money is offices and staff to fill those offices. Many businesses have TOO MUCH staff and it's all inefficient. I've seen web design companies who have php guys, ruby guys, javascript guys, animation guys, and they might have 1-2 clients that need ruby. If they cut down they could go from $1mil/year and 10% profit to $300k/year and 60% profit with less work/headaches.

A business doing $1mil/year should have 30% net profit margins or 0% profit. Anything less is a waste of time. If you're making 10% net profit at $1mil/year, you won't magically turn that into a healthy $25mil/year company.

And lastly, about services vs products. For digital businesses most will be doing either services, info products, software products or affiliate marketing.

If you are drop shipping or keeping your own inventory, then yes you'll think more in terms of gross profit. But none of that really matters. I'm not talking about $100k per year for a drop shipping company where gross profit is 20% and your net profit is like 12%.

I'm talking very casually, but if you want to be more specific, then I'm talking about $100k/year in GROSS profit and I'm saying for most digital companies the difference between gross profit and turnover isn't so much that at this stage, and with the point I'm making the distinction needs to be made.
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I'm not saying you don't understand the difference between them.

My point is with the word "making" and your other wording earlier when asked about how long it takes to reach 100k "Anyone above 2 years isn't actually working." which is my whole point about profit and turn over.

For me the word making or made is a word that represents turn over you even made that point your self here:

Taking a salary out before profit for example is definitely over-complicating things for a 1 man company. If you're making $100k/year and taking out a $90k salary, you wouldn't say your business is making less than 10% net profit. :) Technically, for accounting purposes if you are operating with a ltd company or equivalent then, but for practical purposes, the gross profit for a 1 man company is the important figure.
Click to expand...

I understand you are making the point of a single business owner being the same as a the business. But even a business has to make money IF that company is "making / turning over" 100k in a year, and I took 90k out then that business only "made / profit" 10k. Because the other 90k isn't in the bank.

Its the same when it comes to doing the tax, I still have to take a tax payment out of it. I'm not trying to nit pick and yes I agree 100% in your example I would tell people "I made 100k" last year because id be referring to my turn over - I got nothing to show I actually have 100k.

After all in order for that 100k you still want to expand and grow next year so you need to put money back into it. Other wise where does that money come from.

Id love business to be as black and white as you said to be making 100k in a year and all that but it sadly isn't.

On a simplistic outlook then yeah I agree you can just go off and make 100k if you stick at something.


My other issue is with 'if you haven't made 100k in 2 years your not working'' ok I'm paraphrasing here but I think that was your point - that's how I read it? Like I said there are plenty of people to disagree I'm sure many of these would even fit into the bracket of saying "I made 100k" last year but don't actually have 100k... like I said turnover.

Turnover and Profit makes no different if you are a sole trader or even simpler 1 man guy and a business there is still costs, if you ever had to value it to sell you would still need to write down all your costs, expenses, profits and losses. So it does matter ;) But that's just being picky.

I'm a big Linode fan BUT even at $20 a month for a digital product that $240... so even if I sell 100k worth of products that year have I made 100k or $99,760... yeah I can tell people people I made 100k but on paper or in the bank it's not what I got..

I've only MADE 99,760k

My point is, in business using words like make & made can be interpreted in different ways.
 
t2van said:
I've only MADE 99,760k
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:weep:;)


Wait for it...

:devil:

Boom! I win.

Just kidding. Good points, not much more needs to be said. It's all extra info for people to enjoy.
 
mohdqasim said:
I tried this in the past two years with print on demand, built up a POD Shopify store, kept running ads through FB and paying Shopify fees every month and finally shut down the store few weeks ago and the journey ended up with a loss of around $6K :)
However, i don't want to give up and would like to get your advice on starting a new journey with an investment of $10k or $15K, what you recommend to start with?
Click to expand...

I'm sure you gained some valuable experience from this journey. Since you only specified ads as promotion i take it you didn't try too many other things? That might be one of the reasons your store failed.

I believe that You can always improve on something, and if something (your store) doesn't work then look for other ways to make it work instead of quitting.

For instance you could try to improve your ads by trying different types of images, viral type videos, test different audience. Or try different ad networks like pinterest, reddit, youtube etc

try sending free stuff to influencers to wear in their videos or to review. Start with small channels where you don't have to pay them and as you build confidence go for the medium then bigger.

You could grow your social media presence like facebook, instagram and other visual networks. Post creative images related to your niche or if you do art yourself even better! Give out some value!

there could be something wrong with the type of designs you make. Find things that people are very passionate about and offer designs around that. Look on reddit, see what's hot at the moment, make a design around that and maybe post in the next few days one of your products.

Start a blog and write about the niche related to your designs

And that is only a few things that could have gone wrong in your case or were non existent in your marketing efforts. Starting another store might not help In your case unless you are willing to explore other ways to promote it.
 
splishsplash said:
Hey everyone,

I just felt a bit of random inspiration, as I often do before I write posts.

I've been in business for a long time, and I've had a lot of ups and downs.

Because of that experience I've really come away with an incredibly solid understanding of exactly what you need to succeed in online business, or any business for that matter.

If you follow this mindset and these instructions, then you absolutely will succeed, no matter what you've tried, how many times you've failed or how dismayed you are.

Now.. This is why almost everyone fails. This rule is almost absolute. In all my years, with all the people I've talked to, all the interviews I've watched, all the biography's I've read, I cannot think of 1 single example of someone who's succeeded who has not done this.

Massive, relentless energy put into ONE single focus for a long period of time.

That's it.

NO ONE does this. Not even close.

People try something for 2 weeks, then give up and move onto the next shiny thing.

Others try something for 3 months, then give up. Yeah, still not enough.

Most think you can make money by running some process like it's a job. Set up this, do this, do that, and boom you're making money. It doesn't work like that.

You can make $100k/year, in pretty much ANYTHING. Making videos, podcasts, creating training products, dropshipping, creating a product, re-selling a product, affiliate marketing in any niche, consulting, selling little pink hairbands.

The way to succeed is to pick ONE thing, and focus hard on it for a full year of your life. Put all your energy into it and don't make your goal to make money, make your goal to be the best at this thing. The money will follow that. Minimum $100k/year if you've picked an absolutely dire business and you're massively lacking in skills/experience.


It's near impossible to fail if you do this.

Let's use an example of how most people approach something vs the correct way.

You decide you're going to make youtube videos about games, build an email list and sell something to those people via email and you do nothing but that for a year, you'll master it.

You wake up at 8am, yawn, and decide to sleep in.. There's no hurry, you can start after lunch.

zzzzz

You get up at midday and crawl over to the computer.

You lookup some affiliate offer for gaming. Good, job done.

Next, you sign up for some email marketing software with a free plan that allows affiliate offers.

Then, you make some half hearted video about gaming and upload it.

You're now SUPER excited, expecting to be well on your way making $1k/day automated money. The dream is almost your!

Next, you stick up your opt in page.

A few days later, you've got like 5 opt-ins for your email list. You email your offer anyway and no one bites.

Bah, screw this you say, and back you go to blackhatworld to find another juicy method.


Now repeat this, for multiple methods, for years, and you have your classic "Help! I've tried everything and nothing works" person.

Maybe you're not as bad as that, but most people aren't that far off.

Now, below is the mindset of the guys you see who have made millions of dollars online.


They make a plan. They research everyone else doing gaming videos. They take notes to see what's working and what people like.

They then create a few really good videos. Putting a lot of effort into them. Let's see what happens.

They're not even bothering with monetization yet. The first thing is to get good at the videos.

A couple of weeks just releasing videos, testing the waters..

Ok, not much traction. What do I need to improve here?

They start looking at more competitors and making tweaks to their own videos and getting better at editing..

3-4 weeks in, and they're starting to get some decent views, some people are commenting, things are moving in the right direction. Let's keep improving on that.

Let's work on getting more subscribers, more feedback, more interaction. Let's test some shit.


A whole month can just be spent getting good at creating the videos and getting some views into them.

Next they look into building a list. No selling yet. Let's just work on building a list and trying different schedules for mailing useful stuff.

Maybe I'll get really creative here and go out on the street and hand out flyers for my youtube channel and get people to check it out. Why not. Nothing to lose.


We're now 3 months in and they've got a decent little channel, a few hundred people on their email list that are regularly opening their emails and things are growing.

Now let's look into monetizing..

And on and on.


What's the result?

2-3 years later that's the guy with 100k subscribers, his own product, a big email list and is making $50k+ per month and now has vast experience in youtube, video creation, list building, email marketing, funnel building, monetization, product creation, product launches, upsells, downsells and more.

The first guy is still on bhw moaning about how nothing works and the world is full of fake-gurus.


If you cannot take that approach to your business, you're not going to succeed.
Click to expand...
I like this it is very true I have a tendency of doing this aswell ii learn to be more consistent on 1 method
 
mohdqasim said:
I tried this in the past two years with print on demand, built up a POD Shopify store, kept running ads through FB and paying Shopify fees every month and finally shut down the store few weeks ago and the journey ended up with a loss of around $6K :)
However, i don't want to give up and would like to get your advice on starting a new journey with an investment of $10k or $15K, what you recommend to start with?
Click to expand...


Also, if you want you can add me on skype: thomas.belfort.me and take me through your business.

I'm very busy just now with the wolf launch, but I enjoy business analysis, so when I've got a little time in the next couple of weeks we can take a look at everything you tried and I'll give you my opinion on what failed, and whether you actually SHOULD move on to something else, or whether there's still plenty you can do to make this one profitable.

If you do, have all your data ready.
 
splishsplash said:
I understand the difference between profit and turnover. I do my own corporate accounting. I don't bother using an accountant. I understand the difference between amortization and depreciation, intangible assets, tangible assets, the capitalization of intangible assets, recurring journal entries to amortize yearly operating expenses monthly and more. Not to boast, but just so you're aware I'm not someone who doesn't know the difference between profit and turnover. :)

But these are all massively over-complicating things.

Taking a salary out before profit for example is definitely over-complicating things for a 1 man company. If you're making $100k/year and taking out a $90k salary, you wouldn't say your business is making less than 10% net profit. :) Technically, for accounting purposes if you are operating with a ltd company or equivalent then, but for practical purposes, the gross profit for a 1 man company is the important figure.

The other things you stated, let's go over them.

Office space: Not needed for a 1 man company and not needed for the vast majority of other companies. There are billion dollar companies where 1000+ staff all work remotely. It actually has a lot of advantages and with modern business tools being in the same room is just an annoyance for most people. That's getting into another philosophical discussion, but for a person who's making nothing and going to run their first digital business, they should not be renting any offices.

Services: What is so expensive that's going to eat up 70%+ of your turnover? $50k/mo of services?! :)

Travelling to meet clients: This is not a big cost. Taking your car a few miles into the city. No one needs to be travelling 1000's of miles to meet clients. That's not the norm. And even less so for a digital business. If it's a client based business you talk to them on the phone.

servers are not that expensive. Again, what servers are going to eat up your costs for a $1mil business? Unless you're trying to be the next ahrefs your server bill won't be much. A 4GB linode is $20/mo. I've had 4GB linodes handle 100 hits per second. Most businesses really won't need more than a $5/mo linode for quite some time. Even if you need some serious hardware, a few hundred $ gets you a LOT of cloud goodies.

Where businesses are spending money is offices and staff to fill those offices. Many businesses have TOO MUCH staff and it's all inefficient. I've seen web design companies who have php guys, ruby guys, javascript guys, animation guys, and they might have 1-2 clients that need ruby. If they cut down they could go from $1mil/year and 10% profit to $300k/year and 60% profit with less work/headaches.

A business doing $1mil/year should have 30% net profit margins or 0% profit. Anything less is a waste of time. If you're making 10% net profit at $1mil/year, you won't magically turn that into a healthy $25mil/year company.

And lastly, about services vs products. For digital businesses most will be doing either services, info products, software products or affiliate marketing.

If you are drop shipping or keeping your own inventory, then yes you'll think more in terms of gross profit. But none of that really matters. I'm not talking about $100k per year for a drop shipping company where gross profit is 20% and your net profit is like 12%.

I'm talking very casually, but if you want to be more specific, then I'm talking about $100k/year in GROSS profit and I'm saying for most digital companies the difference between gross profit and turnover isn't so much that at this stage, and with the point I'm making the distinction needs to be made.
Click to expand...

I love it when you write something awesome and everyone loves it. Except for that one guy. The guy that always comes in and accuses you of making blanket statements.

Then you feel like you have to defend yourself and that short post turns into a 14,000-word discussion on the specifics. Then 10 hours go by and you want to blow your brains all over the wall because you spent all-day writing something that shouldn't need explaining.
 
Nice post!
But I think 80% focus + 20% exploring is better in a fast-changing online environment. Says 4 days VS 1 days.
Exploring means BHW, experiments, learning investment, reading news & journeys...
 
Unfortunately, I'm somehow on this table you are shaking. :(
 
anson666 said:
Nice post!
But I think 80% focus + 20% exploring is better in a fast-changing online environment. Says 4 days VS 1 days.
Exploring means BHW, experiments, learning investment, reading news & journeys...
Click to expand...

so-so..

But mostly no.

I'll explain why.

In the early stages you don't really know what you need to read.

Applying the 80/20 rule means you only learn what you need NOW. Not what would be "nice to know".

So let's go back to the youtube example above. Reading about copywriting in your first month is a waste of time. Reading about funnels in your first month is also a waste of time.

You need to just make a plan, break it down into weekly/daily tasks and execute.

At first that means, create videos and look at competitors. Don't read about creating videos. Don't learn advanced editing. Just throw shit at the wall and see what sticks.

When you've done 10-15 videos you'll then know "Ok, I need to learn a bit more about X", but for the most part you're just creating those videos.

Then you'll probably read some things about getting more subscribers, growing a youtube channel, creating videos that attract more clicks. Very specific stuff that will directly move you forward.

When you hit your next stage of list building, then you're learning about just that. List building. You start simple, no funnels. Just a squeeze page. Get the basics down, see what works and what doesn't.

Then again, you'll know what you need to learn more about, and your next move is funnels to do even cooler things with your traffic.

Then you move on to learning about email marketing and how to engage. Not sell yet. Just engage. You can't just hit people with a sales email. You need an actual email funnel that ends with something like "But, that's enough for today.. I'll continue this story tomorrow and tell you exactly what crazy surprise was waiting for me when I opened that letter"

Then you learn about the final part of the email funnel, the sales email. Then you might want to learn about tracking, because you're getting a lot of clicks and opt-ins and you need to track more stuff. You aren't just reading some random guide to tracking because "it's good to learn". You have a problem to solve. Do not learn for the sake of learning. Execute, take action, and when you have a problem to solve, then you learn.

When you're the CEO of a business with 25 staff doing $10mil/year, then you'll spend more time reading, less taking action, because at that stage it's all about the knowledge, and you know exactly what all the problems are you have to solve and there will be A LOT of them. You could read every day for the next 5 years, then try to run a business and you'll get stuck, and 99% of that stuff you read turned out to be absolutely useless. That's how it works. All the stuff we THINK we need to learn and all the problems we THINK we will face never happen, and the ones we never saw coming will come.
 
splishsplash said:
so-so..

But mostly no.

I'll explain why.

In the early stages you don't really know what you need to read.

Applying the 80/20 rule means you only learn what you need NOW. Not what would be "nice to know".

So let's go back to the youtube example above. Reading about copywriting in your first month is a waste of time. Reading about funnels in your first month is also a waste of time.

You need to just make a plan, break it down into weekly/daily tasks and execute.

At first that means, create videos and look at competitors. Don't read about creating videos. Don't learn advanced editing. Just throw shit at the wall and see what sticks.

When you've done 10-15 videos you'll then know "Ok, I need to learn a bit more about X", but for the most part you're just creating those videos.

Then you'll probably read some things about getting more subscribers, growing a youtube channel, creating videos that attract more clicks. Very specific stuff that will directly move you forward.

When you hit your next stage of list building, then you're learning about just that. List building. You start simple, no funnels. Just a squeeze page. Get the basics down, see what works and what doesn't.

Then again, you'll know what you need to learn more about, and your next move is funnels to do even cooler things with your traffic.

Then you move on to learning about email marketing and how to engage. Not sell yet. Just engage. You can't just hit people with a sales email. You need an actual email funnel that ends with something like "But, that's enough for today.. I'll continue this story tomorrow and tell you exactly what crazy surprise was waiting for me when I opened that letter"

Then you learn about the final part of the email funnel, the sales email. Then you might want to learn about tracking, because you're getting a lot of clicks and opt-ins and you need to track more stuff. You aren't just reading some random guide to tracking because "it's good to learn". You have a problem to solve. Do not learn for the sake of learning. Execute, take action, and when you have a problem to solve, then you learn.

When you're the CEO of a business with 25 staff doing $10mil/year, then you'll spend more time reading, less taking action, because at that stage it's all about the knowledge, and you know exactly what all the problems are you have to solve and there will be A LOT of them. You could read every day for the next 5 years, then try to run a business and you'll get stuck, and 99% of that stuff you read turned out to be absolutely useless. That's how it works. All the stuff we THINK we need to learn and all the problems we THINK we will face never happen, and the ones we never saw coming will come.
Click to expand...

I got your point. You mentioned below:
"You need to just make a plan, break it down into weekly/daily tasks and execute."
But the plan will always change time by time and need to be reviewed regularly.

The 20% exploring part can help review and revise direction, not only focusing on tech/how-to/work flow parts.
Try to read something new and think about how it could improve your current plan.
Like new tools, new channels, new money methods..., but not starting a new project.

For example, the initial plan is in these 4 stages:
Streaming Gamer YT + List Building + Funnels + Affiliate

At some points, the plan can be revised to below, if we know more about distribution channels and profit channels
Streaming Gamer YT & Twitch & FB... + Monthly Patreon + Teespring POD products

I am not in the streaming video, not sure if it's better indeed.
Just an example, and seems easiler to deal with.
 
That guy is me! (the loser)
Before I found BHW I made a lot of money selling services on the internet.
After I found BHW and I have been trying methods for more than 1 year without any illusion, I practically spend the day reading the forum without doing anything...
 
anson666 said:
I got your point. You mentioned below:
"You need to just make a plan, break it down into weekly/daily tasks and execute."
But the plan will always change time by time and need to be reviewed regularly.

The 20% exploring part can help review and revise direction, not only focusing on tech/how-to/work flow parts.
Try to read something new and think about how it could improve your current plan.
Like new tools, new channels, new money methods..., but not starting a new project.

For example, the initial plan is in these 4 stages:
Streaming Gamer YT + List Building + Funnels + Affiliate

At some points, the plan can be revised to below, if we know more about distribution channels and profit channels
Streaming Gamer YT & Twitch & FB... + Monthly Patreon + Teespring POD products

I am not in the streaming video, not sure if it's better indeed.
Just an example, and seems easiler to deal with.
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That's actually one of the reasons why most people don't get enough done.

You don't need to improve your plan. You need to execute it. 80/20 rule. Apply the plan now. It's good enough. It'll get you 80% results. Spending 5x more time on the plan to get to 90-93% isn't the best use of your time.

Trust me on this. Just create a plan and execute it. You'll see so much more results.

Create a quarterly plan, break it down into monthly goals and weekly/daily tasks. Every quarter you have another core plan, but once you've made that plan, just execute it.
 
Hey man that exactly how ya do it, I didn't know anything about webcams when I started with them, in fact I didn't think there could be any money in them until one day I made $4, I started learning more and more about them, I am not making 6 figures yet but I am very close.
 
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