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Recipe To Make $100,000 a year...

Discussion in 'Making Money' started by OgSneakyPimp, May 10, 2009.

  1. OgSneakyPimp

    OgSneakyPimp Junior Member

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    Came across this good read, enjoy

    Yes - making over $100,000 per year IS something you can
    accomplish with the right business strategy.

    Today we're going to explore a simple gameplan that you can
    print and begin using to reach your own financial goals during
    the next 12 months.

    Here's What It Takes To Bring In $100K Per Year...

    To get a proper understanding of HOW to get there, we first
    need to learn WHAT is necessary in order to get there.

    It's a numbers game.

    If you want to earn $100,000+ a year with information
    products, then you must sell enough products in order to
    reach that volume.

    Most people set themselves up to fail from the very beginning.

    Consider this:

    If you sell an eBook that you earn $20 per sale on, you'd
    need to sell 5,000 copies in order to reach your goal.

    That means you'd need to find 14 DIFFERENT customers EVERY
    SINGLE DAY for the entire 365 days in order to sell the
    required number of copies.

    That is simply UNREALISTIC.

    By selling only lower priced products, you set yourself up
    to fail before you even begin.

    So, let's compare the options at various price points to see
    where the most realistic opportunity awaits for you to reach
    $100,00 a year in sales...

    Price X Units Needed


    $20.00 X 5,000
    $40.00 X 2,500
    $97.00 X 1,031
    $497.00 X 201
    $1997.00 X 50

    Learn this:

    It's easier to find LESS customers to buy HIGHER priced
    products than it is to find MORE customers to buy LOWER
    priced products.

    Now, does that mean you should only sell higher priced
    products? Of course not. It does mean that you should
    OFFER higher priced products...

    How You Realistically Can Do It


    The ultimate business - and the easiest way to reach the
    six-figure level - is to create a mix of products priced
    at varying levels.

    You need a blend of...

    * Low-priced entry level products!
    * Medium-priced intermediate level products!
    * High-priced premium level products!

    Look at the advantage:

    If you sold just ONE $1,997 product per month, you'd have
    almost 1/4 of your profit reached in just those 12 sales.

    (12 sales X $1,9997 each = $23,964)

    Now, instead of needing to find 5,000 customers for your
    $20 profit ebook, you'd only need to find 3,800. Still
    a significant number, but it's down a staggering 1,200
    from your original numbers.

    Work in a blend of $40, $97, and $497 products and you
    could easily reach the $100,000 range with substantially
    fewer customers needed.

    4 Ways To Reach The $100,000 Mark

    Having looked at the numbers, let's identify your gameplan.
    Here are four things you need in order to generate a
    six-figure income with your information business:

    1. Multiple purchases per customer.

    An age-old marketing law is this: "it's much easier to
    sell MORE to existing customers than it is to find new
    customers to sell to". Your information business stands
    to gain serious momentum when you offer multiple, related
    offers to your customer base.

    Instead of selling a customer a $20 ebook and then
    looking for the next customer, you'll want to setup a
    system to offer her a $20 ebook, then a $40 product,
    then a $497 product and finally a $1997 offer.
    (These are just "generalities", of course)

    The important thing is to get your existing customers to
    spend MORE money with you. Learn this: the more money
    each customer spends with you, the less customers you'll
    need to reach your $100K goal.

    2. Higher profit per purchase.

    We've already talked about this in looking at the numbers
    for your business, but it's certainly something we need
    to spend more time on.

    You want a mix of products that generate a larger amount
    of profit per purchase. The key is to create information
    products in "alternate" formats. No one in their right
    mind will pay you $1,997 for an ebook, but they will spend
    that much on a seminar or coaching or reprint rights.

    The important thing is to get your existing customers
    to spend MORE money with you in larger and larger
    chunks per sale. Learn this: the more money each customer
    spend with you per transaction, the less transactions
    you'll need to reach your $100K goal.

    3. Built-In profit streams.

    The third thing you need to do in order to give yourself
    a genuine opportunity to reach and soar beyond the
    $100,000 plateu is to setup a "backend" strategy to
    bring in profit from multiple sources.

    One of the big "missing ingredients" in what most people
    teach you about setting up an information business is
    the "backend". It's not uncommon to increase your profit
    by 300-400% (or even more) by automatically following-up
    with your customers AFTER THE SALE.

    Whether it's your own products, affiliate programs you
    promote, products you've purchased reprint rights to
    sell, related services, residual programs or other
    revenue-generating offers, you gotta learn to cross promote
    through your autoresponder.

    The important thing is to get your existing customers
    to get into the habit of buying from you well after their
    first purchase from you. Learn this: if you setup things
    correctly, you'll make more money off the "backend" than
    you ever will in selling your initial product to your c
    ustomers.

    4. Increased market coverage.

    And the final thing you want to accomplish is "increased
    market reach". In other words, you want SATURATION. You
    want as many potential customers available in your
    target audience to remove the "potential" and just
    become customers!

    The formula for market converage on the Internet looks
    like this:

    Site Traffic + List Size = Market Coverage

    Just on sheer numbers alone, growing your business is
    based on how many visitors arrive at your website and
    how many subscribers you have on your list.

    For example: All things equal, 10,000 website visitors
    will generate more profits for you than 1,000 visitors.
    All things equal, 25,000 opt-in subscribers will generate
    more profits for you than 5,000 opt-in subscribers.

    The important thing is to get more traffic to your site
    and more subscribers on your list in order to convert
    them into paying customers for your related offers.
    Learn this: The more "market coverage" you have, the
    more sales you'll bring in just on sheer numbers alone.

    So, that's the basic gameplan for reaching the six-figure
    mark (and beyond!) with your information business.

    -----made for noobs-as well as a refresher for the advanced none the less its a good read-----
     
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  2. OgSneakyPimp

    OgSneakyPimp Junior Member

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    Occupation:
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    I believe motivation is the key....it also helps alot to see the numbers broken down. that makes "making 100k a year" seem more in reach.
     
  3. A_Tjuh

    A_Tjuh Regular Member

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    Thanks for the share its a good read for sure :)

    Oww noooo the thanks button is gone for me. But see this as a thanks from me ;)
     
  4. fulcanelli

    fulcanelli Jr. VIP Jr. VIP

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    Great read and has some good points.
     
  5. jakeumms

    jakeumms Regular Member

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    Good read.
     
  6. turbotec

    turbotec Junior Member

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    I also break it down like you but in a different way. I look at it as how much per month do I need to bring in. it is 8333.00 per month. so if you are bringing in 5000.00 a month try to get to that 8k mark. so my new goal as of last month is to meet or break 8k per month. I see it as I need 3 methods that make me 3k per month. I have 2 right now. I only need one more and Im there.
     
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  7. bigkhong

    bigkhong Junior Member

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    very inspiring read. I'll have to think of bigger ticket items now instead of selling $9 ebooks (although that still makes some money). thanks for the share
     
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  8. suko22

    suko22 Newbie

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    thx very much, very interessting for motivation!
     
  9. WillieG

    WillieG Newbie

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    great post!
     
  10. OgSneakyPimp

    OgSneakyPimp Junior Member

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    Yeah key point... .move up in portions so your goals are realistic.
     
  11. MrVentures

    MrVentures Junior Member

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    A pimp after my own heart. I love the way mathematics can help clarify your goals. Always thought the teachers in high school were full of crap until I started doing biz on my own. Now this type of breakdown is the first thing I do before I get involved with any venture.
     
  12. steelballs

    steelballs BANNED BANNED

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    Thanks it is all of what you say, plus you need the maintained focus and commitment
     
  13. OgSneakyPimp

    OgSneakyPimp Junior Member

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    Yeah me too, see im 23 i have a degree in finance worked for lehman brothers for 2 years(very low level :rolleyes:) I now make decent money each year with my own investment accounts..but anyway i learned the value of value. I learned that if you want to be successful you first have to value the business, its method, profitabilty..and other things..

    Dont just say hey, im going to sell this product build a site and they will come i promise you'll still be a broke sucker..:D

    See i make good money in the stock market each year because i value my stocks extremely insanely intensely thourough. I look at all the reasons and ways that (a product, a business method, or blog) can make me money for the long term(i know blackhat is short term, i only use blackhat stuff for certain things but the majority of my sites are white hat).

    Example..if im looking for a product i look for what i call a moat...meaning how easy would it be for a product to come out get attcked by like wise products and become useless...meaning, if i find a product that comes out and i know the product is good, and can withstand the test of time then ill look into it. i want to sell the products that people will be talking about 2,3, even 4 years from now. not a product that will come out and be garbage and get shitted on by the competition...

    heres a way to look at it....

    We all know what coke is(the soda...not the powder). Coke has been around for ages, and guess what coke is still the number 1 soda WORLDWIDE. even though there are thousands of competitors coke still remains the soda people buy more than any other...thats the kind of affiliate products you want to sell to make great, big long lasting money.
    Imagine if you find a product as good and powerful as coke that stays the most wanted product in its niche over multiple years, and you were one of the lucky affiliates to start selling it early(prefably first) you could make thousands upon thousands...or even more!

    Just use your minds and think outside the box you'll find ways and methods that guarantee (spelled wrong dont fee like looking it up, lol) long lasting income.....

    just think a little:D
     
  14. Thaithai

    Thaithai BANNED BANNED

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    It motivated me alot but it dissapoints me even more.
    100.000$ is like 74.000 Euro

    74.000 - 45% tax is 40.000 Euro
     
  15. CPACash

    CPACash Junior Member

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    Thanks for the great read.
     
  16. JayC71

    JayC71 Newbie

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    I already make 100k/yr, I want to make another $100k/yr in my spare time. ;)
     
  17. daniel6767

    daniel6767 Junior Member

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    it is possible,but needs a lot of work and time
     
  18. Vendetta

    Vendetta BANNED BANNED

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    Not a bad motivational post. Where did you find it, OG?
     
  19. OgSneakyPimp

    OgSneakyPimp Junior Member

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    i forgot .see me personally affiliate marketing is an area i am just now entering, so i was doing some random searches and one site led to another and i found that good read..i thought it would motivate more than just myself. glad you were motivated.
     
  20. LeveledStorm

    LeveledStorm Newbie

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    Very informative and all in all great read. Upselling is definitely a great way to monetize already present customers.