- Personal Finance»
- Income & Making Money
Can You Really Make $10,000 Online and Quit Your Day Job?
When I first made the decision to earn money online I read a ton of material on the subject. But the one ebook that caught my attention the most was Jimmy D. Brown’s “10 Proven Ways to Make at Least $10K Every Month”.
The book wasn’t a step by step tutorial… rather Jimmy Brown listed the different options that await you so that you could then make an informed decision on which type of online income generator was best for you.
This was back in 2011 and for sure a lot has changed. I have tried my hand at a number of these ways. Let me list the “ways” here briefly, before we look at “can you really”…
Type Your Way to 10K (Create your own information products)
Sell Other People’s Products Online (Affiliate marketing)
Build an Email List (Market to them & on the backend you get them to join your membership site for residual income, “on autopilot”)
Take Advantage of eBay (A ready-made market waiting for you to tap into)
Flip Websites (You could build niche websites and sell them, or buy poor-performing websites, tweak them, and resell at a higher price)
Blog Your Way to Riches (You set up a niche blog that is of interest to a very specific audience)
Turn Your eBooks Into Physical Books (If you already wrote digital books us a Print-on-Demand service and publish hard copy books)
Tweak and Flip Information Products (Buy, tweak and resell Private Label Rights, PLR, ebooks)
Trade Products Online (basically “flipping” physical products – buy them at a low price and sell them for a tidy profit)
Turn Cheap Physical Products Into Cash Cows (similar to the one above, the difference being you target liquidated merchandize, closeouts, overstocks, or heavily discounted merchandise)
As a newbie trying to earn a living online you come across all sorts of attention-grabbing claims…if you’ve been using the internet for a while you’ve come across them:
“How To Earn $94,954 Over 12 Months As A Stay-at-Home Mom, Working Only 2 Hours A Day”
“How I Earned $18,723.45 With Kindle Books Without Ever Writing a Book Myself”
“1-Click Software that Banks $5,163,079 Profits With ZERO Costs Of Any Kind”…
…and it’s all yours, or you can do it too, if you will just click here…
Which brings us back to the original question; can you really make $10,000 per month online and leave your day job?
Yes…and no. There are of course lots of people earning that sort of money… and you can do it too. But forget about push button solutions when it comes to earning money online. The greatest percentage (over 98%) of people barely scrape by.
Part of the reason is that people make wrong choices when it comes to their decisions on how to make money online. Many people go for “easy”, as in effortless, ways of making money…and end up earning pennies.
One good example is “paid to click jobs”. It sounds really easy, and it is, but what can you realistically expect to earn, simply clicking on websites and banners for maybe $0.01 per click, when you can only do say 80, or 90 clicks an hour? That’s less than a dollar per hour!
Moving on, other people choose to join the gold rush. And as you may know, with any gold rush some make fortunes, but the great majority of them come out with broken hearts…
Which reminds me… Jimmy Brown’s list above does not include providing services as one way to make $10K online. Because it’s nearly impossible to make 5 figures providing services as an individual. Someone compared providing services to selling shovels during the gold rush. The people who sell shovels in a gold rush never make millions… but they don’t go broke!
And so, I will in fact look at providing your services online first. Because, honestly speaking, this is the easiest way to make money, if you already have the skills there is no learning curve involved, and there is always demand for the services…
When I started working online I knew how to write an article… and so I stared with writing articles on Freelancer, then Elance and Odesk. That was before Odesk was acquired by Elance… and Elance itself was acquired by Upwork.
Which brings me to this point that when you start working online it may pay to join a team… or a bigger company or business. It is becoming harder and harder for small players online. Odesk used to be big, then it was acquired… the same happened to Elance. Recently the Warrior Forum, a favorite website for internet marketers was acquired by Freelancer…
If you can join a team, or a bigger business, you greatly increase your chances online.
The other thing is that when you are starting, especially if you are starting poor (as in, no budget) and therefore you can’t afford to outsource, you should choose an online income generator that doesn’t suck you into a skills trap…
When I first started, writing articles on Freelancer, I got attracted to building websites… and started with a Blogger blog. But then I got sucked into a skills trap. First it was learning to use Blogger, then I learned that the best thing is to build your website on your own domain, and then I was off trying to learn how to set a website on a new domain, and how to install and use Wordpress.
You’ve heard the phrase “a shoestring budget”…when I started I had a shoestring…and no budget!
Before I learned to use Wordpress properly I learned that to get my websites to rank in the search engines I needed to create backlinks… and I was off learning how to create backlinks…
Then I needed a logo and a favicon for my website (any self-respecting website should have a favicon, right? But how do you create one, do-it-yourself style…
So, as you can see it is easy to get sucked into a time-consuming, energy-sapping skills trap.
Do yourself a favor – outsource as much as you can, or choose an income generator where you are on top of the game from the get-go.
And where am I after all this bone-breaking journey… do I make $10,000 a month? I know the question has been lingering…
No, I do not make $10,000… yet! But that gives you a very good reason to listen to me.
I read something interesting by Tim Castleman in “The 2Kh Formula” … that people are more likely to believe in a small result than a big one.
So, for example, if I came to you and said that I knew a method for making $100 a month online you would likely believe it. But if I came to you and said I knew how to make $101,249 a month online you probably wouldn’t believe it, right? You might even run for cover…
And now the other question…have I left my day job?
I did something awesomely gutsy, and stupid… I left my day job before I made any money online…
I believe in burning my bridges when I decide to pursue some of my big dreams!
Anyway it was a poor-paying job…and good riddance. I took Brian Tracy’s advice. In one of his quotes he says:
“The more you seek security, the less of it you have. But the more you seek opportunity, the more likely it is that you will achieve the security that you desire.”
Suffice to say that today I earn many times more that I was earning in my day job. And I have finally realized my dream to be my own boss, and I’m able to work from home…
And what I can I teach you? Well, plenty. Let me give you another of my favorite quotes:
"No one lives long enough to learn everything they need to learn starting from scratch. To be successful, we absolutely, positively have to find people who have already paid the price to learn the things that we need to learn to achieve our goals.” …Brian Tracy
I’m learning new things every day myself … from others ahead of me who have paid the price to learn those things…
I have also paid my price and learned a lot in the process. I’m like the not-so-bright student in this quote:
"If I ran a school, I'd give the average grade to the ones who gave me all the right answers, for being good parrots. I'd give the top grades to those who made a lot of mistakes and told me about them, and then told me what they learned from them.” …Buckminster Fuller
So, if you will stick around I have a lot to teach you… such as:
Guides and tutorials on how to make money with job sites such as Fiverr, iWriter, Upwork.
What you need to know before you start your own blog in 2016 and beyond and what it takes to succeed… including the best practices that the gurus are currently teaching.
Tips and guides on how to make money with eBay, and with Amazon as an affiliate
All you need to know about creating your own information products to sell online, or writing for Kindle.
Don’t leave your day job until you get some of this training under your belt. If you follow closely maybe you won’t make $10K a month… but who needs that sort of money?
Just kidding! But let me tell you something…when you are just starting $1500 or $2500 a month is a more realistic figure to shoot for in the first four to nine months. Then when you start making that sort of money you can start thinking of scaling up what you are doing… or diversifying.
There are many ways of you can earn from the internet. In the next few lenses I will take you through how to earn from providing your services online.