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Smartest Route To $10,000/Month In 2024
5 minutes that may change your life.
Deep dive into how anyone can go from 0 to $10K a month online.
These are lessons extracted by the work of Charlie Morgan, a man who makes $600K per month at the time of writing this issue.
9 quick harsh truths about the process:
It won’t happen overnight;
There are no shortcuts.
The journey is going to be painful.
You’ll lose friends who prioritise parties more than success.
Health might not be at its peak, you’ll have less time to exercise and some sleepless nights.
You’ll have to sacrifice video games, Netflix and other entertainments.
No one is going to save you, you’ll be on your own.
It’s all your fault. It’s not the government, the parents, the education, what happens to you is because of your actions and nothing else.
Every single weakness, vulnerability and issue with yourself is going to be tested and exposed.
How money actually works
Money is an exchange of value.
Value is created when pain is alleviated.
Your ability to make $10K a month depends entirely on your ability to solve someone’s problem.
A problem that causes them headaches and pain, one they feel is urgent and worth solving right now.
If you’re offering a solution to a minor problem, it won’t work.
You also need to solve the problem faster, better, and more reliably than anyone else.
These factors help you command higher prices.
When your throat hurts, you don’t hesitate to buy lozenges like Strepsils or drink herbal tea to relieve the pain.
To make $10K a month, you must solve a problem that enough people feel strongly about—and are willing to pay for.
Making $10K in an online business
Types of products you can sell:
Super low-ticket product: Any product priced between $1 and $100.
Low-ticket: Any product priced between $100 and $1,000.
Mid-ticket: $1,000 to $3,000.
High-ticket: $3,000 to $10,000.
Super high-ticket product: $10,000 to $20,000.
In the beginning, don’t focus on making $10K—focus on making $1.
You need to crawl before you learn to walk.
Later, the compounding effect will take care of you.
Compounding is heavily influenced by the customer’s perception.
If someone buys a $1,000 course from you and thinks it’s underrated, they’ll recommend it to friends.
On the flip side, if they feel it's overpriced, you'll lose money.
Price is your biggest leverage here.
The more you're able to charge, the fewer customers you need to reach $10K.
Now, let’s explore the 4 factors that will allow you to charge more...
The Four Pricing Factors
One: How much pain the customer is in.
If you try to sell water for $1,000 in the city center, you won’t make it.
If you try to sell it in a desert to a person dying from dehydration, it would be a lot easier.
Whatever you sell, position yourself in a market with great pain.
Two: Availability.
How many other products do what you offer well?
Antibiotics solve a major pain, so why are they just $20?
Too many companies are making them, hence the product can’t be priced higher.
Three: Quality of the result the customer gets.
How well does this thing work?
How far does it solve the customer’s problem?
Four: The depth of the solution.
If you help with the customer’s symptom, you’ll charge less compared to solving the root of their problem.
It’s a better option to start with lower-ticket products, and as your authority rises and availability decreases, charge more and upgrade your product.
Strategies
First, you need to figure out if your market is valid.
Is the market growing, stagnating, or dying?
Choose growing.
If you don’t know how to analyze a market, reply to this email and I’ll show you.
Then, is the market in pain? Where?
Do these people have problems you can solve?
Three: Financials.
Is this market poor or rich?
Solving problems for students or homeless people won’t make you much money.
It’s a charity—good for humanity, but it likely won’t get you to $10K a month.
Pro tip: Choose a market with wealthier people. They’ll pay you more.
Four: Are there at least 30,000 people in this niche?
If yes, good. If not, change the idea.
Five: Is there competition?
The blue ocean strategy (unexplored market) sounds great, but the reality is you should look for places with competition.
Competition = sign of life.
You want a growing market that’s thriving.
You want proof that there is a problem and people are making money solving it.
Six: Targetability.
Can you target the people you want to sell to?
Through email, social media handles, phone numbers, etc.?
Different business models you can choose
Social Media Marketing Agency
SEO agency
Video editing agency
Marketing Funnel Agency
AI Automations AgencyWeb design
Copywriting agency - email or blog copywriting
Appointment setting agency
Growth operating agency
High ticket sales
Consulting or coaching
Community
If you don’t understand what any of these mean, reply to this email and I’ll explain to you in more details.
Whichever of these options you pick, if you grind hard for 3 years, you’ll reach $10K a month or more.
As a human, you don’t achieve a goal; you achieve an identity.
Who do you need to become to make $10K a month effortlessly?
Just wanting to make $10K a month is a dream. Having a plan to do so is a goal. But actually achieving it requires transforming into the kind of person capable of making $10K a month.
The 4 quadrants of the $10K per month persona
One: Skills
This is your expertise in the chosen area (ex. video editing) + knowing how to set appointments, how to sell to clients, and how to manage your money.
Two: Characteristics
You need discipline and emotional control.
Communication - Can you clearly express your ideas?
Consistency - Doing it every day, even when you don’t want to.
Focus - Remove all distractions and get things done, one task at a time.
Commitment - How well can you stick to the business and model you’ve selected?
You shouldn’t switch constantly or be all over the place.
Patience: The ability to endure the pain of delayed gratification.
Three: Beliefs
You might have beliefs like "I’m not good with money" or "I’m not good with sales."
These beliefs limit your ability to make money, so you need to eliminate them.
Start shifting your identity, and through action, gradually believe in your ability to adopt these traits.
If you want to make a change, start by changing your beliefs.
Four: Paradigm
The way you perceive the world is different from how a billionaire’s mind works.
You need to watch interviews with very successful people…
Read their tweets, newsletters…
And gradually, their perception of the world will start to influence yours.
That’s how you change your perception over time.
Then you start to believe becoming a millionaire is possible…
And then you actually do it.
The 6 Stages to get to $10K a month
First: Whatever skill you choose, you need to become an expert at it.
For most online skills, if you’re grinding hard, it will take 3-6 months to develop expertise.
Second: You need to learn the basics of sales—getting on the phone, sending emails. You’ll need at least 2 months to learn the fundamentals.
Third: Package. You need to craft an irresistible offer.
That may take just a day.
Remember, adjusting to client feedback may require you to change your offer multiple times to fit market needs.
Setting appointments: How do you create ads that convert, generate leads, and turn them into appointments?
This will take at least 1-2 months to learn the basics, but realistically, it could take 6-12 months to get really good at it.
You can learn multiple skills at the same time, and the best approach is learning by doing.
In the beginning, don’t aim to close $10K offers. Start with a foothold offer (a no-brainer offer).
What does this mean? Craft an offer for a few hundred dollars and make it irresistible.
For instance, if you have a $500 offer, ask for $50 upfront and $450 after the client sees the results they expect.
There’s no risk for the buyer.
This is how you’ll close more deals. While you won’t make a lot of money at this stage, you’ll gain the experience needed to charge more comfortably later.
Fifth: Feedback. Based on client feedback, you’ll gradually improve.
Sixth: Volume. Once you have a system that somewhat works, the more you do it, the better you’ll get.
Top 8 mistakes to avoid
One: Time expectations
If the goal is to reach $10K a month in 2 years, don’t expect it to happen in 3 months.
Two: Shiny object syndrome
Don’t constantly change models and strategies.
The grass is greener where you water it.
Three: Entitlement
Just because you work hard for 3 months doesn’t mean you should be successful.
The market doesn’t owe you anything.
Four: Doubts
Do not listen to your doubts. Block them out.
Five: Wasting time
If you’re not booking appointments, delivering value, or closing sales, then...
What are you doing?
Stop procrastinating with fancy routines—take more action.
Six: Low volume of outreach
You need to reach out to more people to close more sales.
Seven: Too much learning
Don’t procrastinate by learning for a year without any practice.
Don’t overlearn—practice as soon as possible.
Eight: Advice from others
Parents and friends will start giving you advice.
Don’t listen to them unless they’ve achieved what you’re aiming for.
Stay laser-focused, with no distractions.
Nine: Quitting
The biggest mistake is giving up.
Technically, if you don’t quit, you can’t lose.
Did you enjoy the newsletter this week? |
Keep going warrior,
Better times are coming,
Much love,
Maxi | The Warrior’s Newsletter
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YOU CAN DO IT WARRIOR. WE’RE TOGETHER IN THE STRUGGLE.
Better days are coming.
Can’t wait to see you next week,
Maxi | Warrior Newsletter
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