A Million Dollar Scenario

Now that I’ve set my mind at making $1,000,000 per year (profit) my mind has been working on how to achieve that. I’ve come up with a scenario I thought I would share. I’ll be continuing to post my successes and failures over the days, weeks, months and years to follow! (If you’re not up to $150-200K/year in consulting you might want to pick up my Consulting e-book)

$1,000,000 per year Scenario

$160,000 ‘offline’ IT consulting (integration) – my existing consulting work – planning to get remote work contract

$90/hour x 1800 hours (reduced from 2000 hours)

$270,000 ‘online’ consulting (web sites, email autoresponders, shopping carts, membership sites) – this is new (could have been doing this for years!). People I’ve talked to recently are spending way too much to get a website and they can’t make their own edits)

20 sites * $5,000 (membership site consulting) = $100,000

50 sites * $1000 (website, autoresponder and shopping cart consulting) = $50,000

50 * $200/month maintenance x 12 months = $120,000

That leave $570,000 for online sales (assuming no advertising costs):

3 sales a day (average) low ticket item ~ 1000 * $97 = $97,000 (eg. Overnight Membership Site, Teach Online, Teach Music Online)

2 sales a day (average) high ticket item ~ 730 * $497 = $362,810 (eg. Ryan Deiss’ Continuity Blueprint)

Online Guitar Coaching – my guitar lesson membership site

100 * $19/month * 12 months = $22,800

Amazon and other affiliate programs

100 products x 1 sale per day (average) x $2.40 average commission/sale = $87,600

Total ~ $1,000,000

Wow there’s a lot of work to do!

Marketing Plan

Offline consulting – bid on contracts, network with my contacts, regularly approached by placement firms

Online consulting – inform my network, video screencasts and webinars (youtube and other video sites), email capture form with free report on imedia-ventures.com and membershipschool.com with regular follow-ups, blogging, social media

Internet Sales – search engine optimization, blogging, video screencasts, social media posts, email capture forms and regular follow-ups, joint ventures, get advice/help from those who have been there, provide useful comments on blogs and forums, publicity (helpareporter.com)

How You Can Help

Provide constructive criticism of the plan, provide encouragement in my blog posts, mention my services/products to your network, put me in contact with people who can help make this a reality, hire my services/buy some products, joint venture with me, link to my sites/blogs, or be an affiliate (help sell and make commissions) of  my guitar coaching program. Thanks in advance!

Why I am Doing This

To provide huge value to people, to help my family financially, for the challenge, to get my juices flowing again, to overcome mental limitations, to show the doubters, to give more to animal charities, and to work remotely.

Note to the Naysayers:

This isn’t all about making money for the sake of having money or being greedy.  If I win, other people don’t lose. If you think money is evil, or you have to be poor to be happy, please run away from this site quickly! There’s enough negativity out there, I really don’t need to hear any more.

Wish me luck!