Archive for $1 Million per year
A Small Success, Some Setbacks
Posted by: | CommentsOkay the self-doubt is kicking in as I see the daily doom and gloom out there. However, one of my ideas has shown a little bit of success. I started posting daily guitar lessons and provide a link to a related Amazon book/DVD. I’ve started to see a bit of success as I got 2 immediate sales of those specific products yesterday. And if I get one more sale, my commission will go from 4% to 6%.
Other things Amazon offers is mp3 sales and putting links in videos. So I’ve added some product links right in my video (that talks about the guitar product) and a few cds/mp3s that are my current favorites. Some of the guitar products are bigger ticket items providing larger commissions. I will have to get a lot more traffic to get the numbers I was hoping for.
No luck on the Overnight Membership site or Continuity Blueprint although I haven’t done much to market it yet. Those bigger ticket items would provide much more revenue than the Amazon sales. But the Amazon sales have actually occurred which is a crucial point to note.
One of my members asked for a refund of his annual membership on my guitar coaching site – ouch that hurt!
I just saw on the news that because of the 2010 Winter Olympics games being held in Vancouver, BC, there are a ton of jobs there in various industries – trades, public relations, etc. So it’s not all bad news! I prefer to think of the positive – will all the layoffs, maybe some of those people will try to get an online business going!
A Million Dollar Scenario
Posted by: | CommentsNow 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!
