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My Journey to $10,000 a month in 12 months. STEP BY STEP.

Discussion in 'My Journey Discussions' started by SeoProMatt, Jul 19, 2016.

  1. SeoProMatt

    SeoProMatt Newbie

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    From multiple sources, I plan on increasing my monthly revenue to $10,000 by July 2017.
    Keep in mind i'm also a full time student studying towards my degree in Aerospace Engineering.

    Present:

    1) Started a tutoring company (Tutoring For Students)
    Current income: $450 a month

    2) Client SEO and Google AdWords services
    Current income: About $250 a month

    3) I am a tutor. (Not for my company)
    Current income: About $120 a month

    4) Other (Selling stuff on craigslist taking extra tutoring hours)
    Current income: $100

    Total between $800-$1,000 a month
    Still have a long way to go.

    Things I will do to increase revenue to $10,000 a month

    July 2017

    1) Will grow my company (Tutoring For Students) and begin marketing more aggressively.
    Goal: 150 students by July 2017
    Revenue: $4,000 a month

    2) Increase my SEO clients. More cold calling and advertising.
    Goal: 20 Clients by July 2017
    Revenue: $2,000

    3) Tutoring. I will increase my hours of tutoring to 15 hours a week.
    Goal: 15 hours a week
    Revenue: $1,200

    4) Okay this is the big one. I'm trying something new. I want to begin trading to other countries. For example. I bought 300 sunglasses in the US for about 50 cents each and I sold them in my home country (Egypt) for 70 pounds a piece ($7). Made about $60 from the whole process (Because of ridiculous import tax and shipping). I want to start doing this on a larger scale to start making some serious income. I'm going to start with a product (gonna keep it private, don't want competition :D) I'm going to buy about 1,000 for $5 each then I will sell them in Egypt for $60 a piece. Take out shipping and tax, I'm looking at an income of at least $25,000 The whole process take about 5 months. So i'm looking at $5,000 a month from international trading. BUT that's $5,000 assuming everything goes well. So to underestimate let's say $2,000 a month goes to misalliance costs (Which is a huge estimate, but I just want to be safe). So from this source of income i'm looking at is AT LEAST $3,000 a month.
    Goal: 2-3 shipments per year
    Revenue: AT LEAST $3,000 a month

    Total income: $10,200 (The $200 as a small safety net).

    Thank you with baring with me till the end.
    Questions:
    1) Is my plan really doable or is there too much room for error?

    2) Should I stop tutoring on the side and focus my efforts on other sources?

    3) Even though I underestimated for all revenues, is my goal too high for the time aligned.

    Any advice will be greatly appreciated. I will answer any questions in the comments bellow and give weekly updates about my process. Also at the end of every month, I will post that month's income and how much close I got to my goal. Thank you BHW!
     
  2. BridgeCable

    BridgeCable Newbie

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    I'm sorry I can't be of any hlp as regards your qustionns cause, frankly, I haven' t earned a dime from any business venture. But You hav a solid plan. I'm sure if give it a real go, you just might hit your target.
    Good luck
     
  3. coitza

    coitza Jr. VIP Jr. VIP Premium Member

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    Good luck with your journey mate, 10k is the milestone many dream about first, and it's a good one :) I do think it's doable. As for how to get there, I'd go with all your ideas at first, you never know which one will work best
     
  4. SeoProMatt

    SeoProMatt Newbie

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    This is why I turn to BHW. The amount of support I get really keeps me going!
     
  5. Jaya

    Jaya Newbie

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    Respect!
     
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  6. xCharged

    xCharged Regular Member

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    Doable. For sure. I have goals of making 2k a day; so yeah saying your goal is impossible would be saying that mine is too.
    I know a friend of mine who used to make $10 a day and now is making $2k a day.
     
  7. Lunaaa

    Lunaaa Elite Member

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    How do you sell those sunglasses
     
  8. FutureTense

    FutureTense Newbie

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    Good luck on your journey. I myself have a similar income goal with a few similar methods. Keep us up to date on how it's all going.
     
  9. SeoProMatt

    SeoProMatt Newbie

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    I simply searched on google for clothing stores in Egypt, then I contact the owners asking them if they are interested in selling sun glasses at their store. After a simple sales pitch, I'd get them to order like 50~100. Then I'd pick up the phone and do it again till they were all sold.
    Good question!
     
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  10. Lunaaa

    Lunaaa Elite Member

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    Awesome! Good job
     
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  11. LatteGrande

    LatteGrande Jr. VIP Jr. VIP Premium Member

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    That's very neat plan mate. You know what you're doing and keep doing what you're good at though it could be overwhelming sometimes. $10k / month is very doable goal. :)
     
  12. kerbat

    kerbat Registered Member

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    That is way off Aerospace Engineering, I finished Aeronautical Engineering myself and have been out of that industry for over 10 years now lol in any case I'm sure you'll get to your goal.
     
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  13. bunty28

    bunty28 Jr. VIP Jr. VIP

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    i'm newbie on BHW. may i know ? how to make $10 a day ? its enough for me.
    Thanks
     
  14. TayaX

    TayaX Jr. VIP Jr. VIP

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    You should ask a mod to move your thread in the journey section. Good luck.
     
  15. GringoMonkey

    GringoMonkey Power Member

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    There are only so many hours in the day. Unless you are ridiculously talented you will never be rich doing the work yourself. Making good money each month means you have to be able to manage others more than actually do the work.

    So the key to making good money is actually getting other people to do the work you sell for a price less than which you sell it for. That generates your profit. Scaling your income is repeating that process and getting lots of other people to do the work.

    The owners of McDonalds don't flip the burgers! That is the basis of getting rich with capitalism.

    For example I generate my income through publishing. There are only so many books I could actually create myself, so I have invested in some tools that automate parts and also in paying others to actually produce the content. I don't actually create anything now, I just manage publication and ensure there is a decent profit margin. That means I can sell far more books, at far better quality (as I can hire people who are better than me!) than I could ever create by myself and as such can make way more money.

    It is far better to scale your income by first finding something you sell that makes a decent profit. Then focus on scaling that rather than working on lots of little random things as you seem to be doing. It is a lot easier to manage 1 venture that makes $10,000 per month than 20 ventures each making $500.

    So I suggest you go through your ideas work out how to scale each, whichever you feel has the best chance of success drop the others and focus on that.
     
    Last edited: Jul 20, 2016
  16. Vlad D

    Vlad D BANNED BANNED

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    You should start building and scale this idea . I'm from Europe but I'm sure Egypt has a large market , start with accessories , build an email list and you can be a constant provider for some businesses in your country .
    I know some guys who are doing great in Romania which is 4-5 times smaller than Egypt .
     
  17. wokaka

    wokaka Senior Member

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    i think you have too much things at the same time and it'll mess up with your concentration sooner or later. you should narrow your focus to 2 things at most. the rest should be just part of investment or small side-income.
     
  18. SeoProMatt

    SeoProMatt Newbie

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    UPDATE

    Thank you everyone for your feedback. After reading the comments, I have come to the conclusion that I'd be better off focusing on international trading and my own company rather than trying to make some extra money tutoring. I really appreciate the feedback BHW!
     
  19. loedown

    loedown Jr. VIP Jr. VIP

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    Good luck, hope all goes well.
     
  20. SeoProMatt

    SeoProMatt Newbie

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    That's the plan! There is no way I could do all of this by myself.

    I just left out the details but to clarify I'll give an example. Lets say my tutoring company is making $1,000 a month and it's December. What I'll do is pay a VA to do exactly what I do and just manage the VA. But instead of my tutoring company making me $1,000 a month it's going to drop to about $800 a month. But as the company grows, I will have little involvement in its management. I will only manage my VA and therefore have more time to work on other streams Makes sense?

    I agree. I just plan on focusing on scaling one thing a time but by July 20th I want my steams to be at a total of $10,000.

    Well what skills do you have? I'm personally interested in buying cheap and selling high. If you goal is $10 a day then buy things of craigslist for a cheap price then sell them on eBay or Amazon for a profit.