We all know the story. Tommy and his friends found this insane way to make $23,478 per month on complete autopilot. Even better, for $99 you can have access to their information and completely change your life. Money will never be an issue for you once you purchase this information.
Unfortunately for them, we’re used to this kind of crap. Making money online is possible and you will have to work hard for it. The more you want to make, the harder you’ll have to work. Our generation expects quick results and accepts nothing less. In our minds, if something does not garner results within a short period of time it simply does not work. When in actuality all you needed was a little more patience and you might have achieved total financial freedom.
I would love to be accounted with the high rollers of the internet claiming to earn thousands each month while traveling the world and experiencing life. Unfortunately thats not the case. I have merely had a taste of income from building assets online (Details Bellow!). Notice I said assets! Exploiting some hidden loop hole in the internet will not grant you a profit so do not expect it.
A couple of months ago I decided to take online income a bit more serious and turn it into a mini case study to share with my readers. I really did not have high expectations for this test but was patient and focused on the types of assets that are cheap to build and appeal to a specific audience. For this case study, and what I would recommend for anyone getting started online is focusing on courses and information products. Information products are the gold nuggets of online assets as they are cheap to make, can scale infinately and are essentially as automated as you can get for income generation.
I built two different video courses that were aimed towards helping fellow entrepreneurs and came with a low price tag as I wouldn’t feel comfortable charging a premium price to someone I understand and aimed to actually help.
The first course was a 30 minute course teaching entrepreneurs how to begin outsourcing work cheaply with virtual assistants in the Philippines called Your VA Crash Course. The entire course was video and a screen recording of myself actually hiring my current virtual assistant. As I went through the process I explained my reasons for each action and how to avoid any potential problems. At the end of the course I included another video of myself explaining how to limit any risk that is involved with outsourcing semi-important work.
The second course was a very simple video of me explaining how to use the popular site Reddit to validate your potential business ideas called Reddit Crash Course. Initially I was helping other entrepreneurs one on one for $10 each understand how to do this. As my schedule became packed with helping others learn, I eventually recorded one training and turned it into a full on course. For the same price and without any more of my time, interested entrepreneurs could take advantage of this information and begin validating their ideas.
So what all did these courses make me? Let me break it down per course:
Reddit Crash Course: $380
I do not expect you to be impressed by any means by this number, but hope to inspire you to begin building your own assets online.
There is something I did to ensure that both of these courses sold. I used the age old trick of validation. Before spending any time of making these courses I made sure that the demand for the information was there and even more important, people were willing to pay for it. I used Gumroad.com to create a pre-sales page and begin sending targeted traffic to it from communities related to the subject matter. Before I began making the courses I had pre-sold at least half of the above profit. I then took one of the courses and put it on Udemy.com where 1,500 people signed up (Before I could charge them….) but then did another $100+ in sales!
All of this happened within a months time-frame and added almost an additional $700 to my income with zero startup costs. How cool is that?!
So, some actionable tips and what-not to get you on your way to achieving even more additional income than I did.
- Pre-sale your idea through validation using Gumroad.com and other communities
- Focus on info products(ebook, video or course).
- Scale your successes! If your course takes off, consider adding it to Udemy.com or creating your own website to continue generating sales for ever, seriously….
- Build something of value that a community is actively trying to learn or fix. Focus on the value!
- Don’t spend any money on your course until you have pre-sold at least 3 copies. Limit your risk.
- Build a community! Ultimately you want to build a community around the problem your product solves. By building a community you are essentially building a marketplace of people who are craving your knowledge. Consider making a membership site for on-going monthly revenue or a blog to retain your customers and release more products as your readers tell you their problems or what they are interested in.
I really hope this post has helped you in some way and I really hope you share your experiences with me in the comments. I want to hear your success, your failures and how you over came them! Making money online shouldn’t be hard so get busy building your online assets, even if its only $700 a month.
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