Today I want to cover something that many people online want to achieve, but very few ever do.
For many people, the dream of making $100,000 per year online with their own business seems like just a pipe dream. It seems far out of reach.
They think they can’t do it, or they start their journey but soon give up.
I’ll be honest, when I started diving into Internet Marketing back in 2004, I was only hoping to make a few extra bucks per month to help pay off my credit card debt.
Making $100,000 per year wasn’t even on my radar.
But sure enough, a few years later, I was easily making that amount (plus more)…and my life changed forever.
When I look back at myself at that time, there were several factors that led to my ultimate success. These factors were…
#1: I Wasn’t Afraid To Take Risks
#2: I Wasn’t Afraid To Spend a Little Money
#3: I Loved The Process of Creating Something
#4: I Found a Hole In a Market, And I Filled It
Even though I was working a full time job at the time, I had come across something online where I noticed there seemed to be a lot of demand for something, but when I looked for books or courses on the subject…they simply didn’t exist.
That’s when I had my “AHA!” moment.
I thought this might be an opportunity to create something to fulfill a need that people are having.
I was willing to take a risk. I was willing to invest in a handful of guides in the market that actually contained some of the information I needed.
I found all of it exciting – the creation and research for my first ebook, the creation of the website (just a simple long-form sales letter), etc. I loved it all.
Long story short, that ebook became a success, and the years after that, I created several more in the same niche and in a very short time, I was making $100k per year or more in sales.
All this, in a tiny market niche (not even weight loss, pets, make money at home, or anything like that).
Right now, if you want to create a $100,000 per year online business, here’s my advice that I’d recommend…
First…focus on infoproducts. Infoproducts can consist of either ebooks (Hint: Don’t call them “ebooks”), online courses, paid webinars, etc. The reason why I suggest info products over anything else is because there are no overhead expenses. Everything is digital online.
Second…don’t just offer one info product. I was successful because I started with one ebook at the time, then I branched off from that and turned that info into 4-5 related ebooks…and then I CROSS SOLD them. This means that if one person bought one of the ebooks, they more than likely would be interested in the other guides as well, so I did upsells, cross-sells, and bundles to achieve exponential boosts to my sales and profits.
Third…make sure you always give something of high value away for free to build your email list. This way you not only get a list of subscribers, but you also get a chance to prove your value to them and you also get to market to them more than one time. Just be sure you offer a lot of free value first instead of SELL SELL SELL right out of the gate. That’s a big no-no.
Fourth…when you find something that begins to work, pay close attention to it and scale it up as much as you can. Once you get that tiny “spark” of something working, fuel it and turn it into a fire. This could include things such as bumping up your traffic, offering certain types of guides that you market asks about, etc.
Creating a $100,000 per year online infoproduct business comes down to numbers…
- You can offer something that’s a higher ticket item and sell less of it or…
- You can offer something that’s a lower ticket item and sell more of it
Let’s break both of these down so you get a better idea of what it takes…
LOW-TICKET PRODUCT: $37 Ebook/Digital Guide
In order to sell $100,000 a year, you’ll need to make…
– 2700 Total Sales In One Year
– 225 Total Sales Per Month
– 7+ Total Sales Per Day
HIGHER-TICKET PRODUCT: $297 Online Course
In order to sell $100,000 a year, you’ll need to make…
– 337 Total Sales In One Year
– 28 Total Sales Per Month
– 1 Sale Per Day
As you can see, investing your time into something that has a higher-ticket price can get you to the $100,000 per year mark with a lot less sales.
And shockingly, when done correctly, selling a $37 ebook vs. a $297 online course can be just as easy.
The most important thing, no matter if you’re going to offer a $37 ebook (digital guide) or a $297 online course, is that you need to make sure you’re either solving a problem or instructing someone how to do something.
And just as important, is that you create value FIRST to your market, and then make your offer later.
Trying to sell a $297 online course cold is not going to yield you nearly as good of results compared to if you provide value and trust (build a relationship!) FIRST.
This can be done through the power of email, online videos, webinars, etc. When you do all of these things, creating a $100,000 per year business can finally be achieved.
Ideally, the best thing you can do is start small.
It’s ok to aim for $100,000 per year, but first…aim for $1000 per month, or even $500 per month.
Focus on ONE product, and ONE traffic source to start.
Once you get that product to sell, then scale it up by adding related products to it (more guides, etc.) or expand it into a full course.
Don’t try and do it all at once.
A brick house is built one brick at a time…the same is true with your own online business.
My hope is that this article will help you finally see that reaching $100,000 per year online is not rocket science. It really comes down to setting up the right funnel, offering great products, and building value FIRST and selling SECOND.