"4 Proven Models For Earning $100,000 C.A.S.H. Per Year"
Essential Three: Monetize
Okay...
You've chosen your market, created your mission... Now all you have to do is choose a profitable business model to start sucking in boat-loads of the green-stuff (money).
Well, here are four great ways to generate C.A.S.H. online...
- Content.
- Affiliate.
- Service.
- Helping.
So, lets take a closer look at each of the "BIG" four revenue-generating methods to discover which one's best for you...
C.A.S.H. Methods...
Content
This is all about creating and selling your own information products, especially courses. But, you can also sell reports, videos, access to membership sites, licensing and much more.
Affiliate
This is mostly chosen by beginners because it's something you can start quickly and easily. And you don't have to create your own product.
Service
This idea is where you take your existing skills and sell them to others. For example... ghost-writing, copywriting, graphic design, web-development, researching... Basically anything you think others would find valuable.
Helping
This is where you directly help folk achieve their goals via coaching and consulting. The only downside is it's trading time for dollars. But on the flip-side you can often charge high fees which could land you with a good chunk of change.
Okay let's talk more in depth about Content marketing... the first of our C.A.S.H. generating models.
The key to selling or marketing you info-products, is through your sales funnel. This includes...
- A free offer (AKA lead magnet) to get people on your mailing list.
- A low-cost front-end offer (trip-wire product) to turn prospects into cash-paying customers.
- A higher-priced foundational offer (core product) to transform buyers into repeat customers.
- And a variety of finishing offers you sell on the backend... enhancing your product.
We'll talk more about these later, but for now I highly recommend this model, because it's simply the most profitable... since you own and control all the assets and moving parts (even though it takes more time and effort).
Moving on...
The Affiliate model is where you sell other peoples products/services (which is why it's so popular with newbies). All that's needed is a unique tracking code... so when someone buys through your "link" your code tells the vendor to pay you your commission.
NOTE: This could be as little as 5% to 10% of the sales price. Although, for digital products, you can easily expect at least 50% - and in some cases 75% to 100%.
The downside?
Someone else owns the customer mailing list and the backend profit, which is where the real money in business is. My thoughts on this are...
"It's better to have people promote YOUR products, than for you to promote theirs!"
Still...
If you want a quick start, without creating paid offers of your own, it's a viable option.
Next...
Service with a smile & plenty of REWARDS!
This is where you provide valuable services to your customers... although the downside for this model is it's more like a job, since you're trading time for dollars. (or you can do as I do and fit it into the other two business models above),
NOTE: With this strategy, you'll work more "hands on" with the individual clients within your audience which may prove to be more rewarding... since you're already helping someone.
Speaking of...
Helping
Another "trading time for dollars" approach, and comes in various formats...
- Email coaching.
- Phone coaching.
- Video coaching (Ex. Zoom)
Although, by adding other formats to this one, like a curriculum creating "e-classes." You could leverage your skills on that level. Eliminating the impossible task of 10Xing your physical presence.
So, while there are other options like SAAS (Software As A Service), licensing, and selling physical products on sites like Etsy and eBay... most people will want to stick to one of the four models mentioned above.
And this brings up the question...
Which One Should You Choose?
Clearly, you'll want to sit down and figure out for yourself which method best suits who you are. And in some cases you could do as I do, and combine them. For example...
You could sell courses on the frontend of your business, and then sell affiliate products and/or coaching on the backend.
But to make things REALLY simple... make sure you pick only ONE method to start with. And I urge you to pick "Content," because...
- You're not trading time for dollars. Which means you can create passive streams of income. It's the ultimate "create it once and get paid over and over" model.
- It'll be the most profitable business in the long haul, because you own all the assets, such as products and mailing lists.
NOTE: And remember, you can always combine All of the C.A.S.H. options to you business in the future.
In fact, lets take a peek at how profitable this "Content" model (selling information products) can be...
Important Disclaimer & Sidebar: Clearly, there's NO guarantee you'll make $100,000. No-one can guarantee that except YOU. In fact, it's guaranteed if you don't take action on the information you learn... You won't make a bean using information products.
These figures I'm giving you have and are being achieved by me and others as we speak (so the balls in your court).
Models
Offering A $20 Monthly Membership Site
With 417 active members, your revenue will total $100,080 for the year. Twenty dollars per month is a high-converting price point... and getting four hundred paying members within a large market isn't difficult. Some membership sites have thousands, even tens of thousands of members.
Selling A $97 Information Product
If you have just ONE product, and you sell 3 copies per day, you'll earn $106.215 per year. Create a related "part two" (part one for beginners, two for more advanced strategies), and you'll double your revenue (But only if part One is good enough, meaning if they're earning money with that product... they'll rip your arms off for the next addition)
Creating A $497 Four-Week eClass.
If you offer the same class every month, you'd need 17 customers per class to earn $101,388 per year. Your eClass would include a weekly lesson and assignment for students to complete.
Obviously your coaching would be conducted via email, where you'd mark and comment on their assignments. And like all the models I'm presenting... you have to make sure your product is of the highest quality to ensure customer satisfaction and repeat business.
Making A $197 Licensing Package.
How about selling PLR (Private Label Rights) content? This means you licence your content to others for a premium price, and they can use it as if they wrote it themselves. This is incredibly lucrative... and an easy route to your $102,440 per year target. All it takes is 10 orders per week. And that's just from one package... imagine compiling a package every quarter, or month even. You can soon see how profits would escalate.
Selling $997 Home Study Courses
You can create physical products (manuals, binders, DVDs, etc.) And it only takes 9 orders per month to bring home $107,676 per year. Your shipping and handling fees can offset the duplication expenses... making this as profitable as digitally-delivered content. Imagine creating a second course, or third... you can see how the profits would soon compound.
