zerotomillion

My goal at zerotomillion.com is to earn 10K per month without working.  Today I earn between $15,000.00 and $20,000.o0 per month as a consultant, but my life is not my own.  I am a slave to my consulting practice.  In order for me to get paid I have to work by the hour, and even though I own my business, I still have customers that require certain things of me.  Most of those requirements concern my time.

Consulting allows me a good life style, and I earn a better than average living, but with that earning capability comes constant change.  I am constantly looking for customers and I am the product, so earning any income on a residual basis is impossible.  There was a time when I would find my own contract and I would be billable forty hours per week and I would also hire others, taking a percentage of what they billed.  For example, in 1996 I was hired by American Express to design and develop their Stored Value Credit Card system.  I hired several other consultants to help me, and I earned about $10 dollars per hour for every hour they billed.  I had about 10 people billing besides myself.  Needless to say I had a good year that year.

The problem with that was I ended up being a baby sitter, no one whines like someone making $100 per hour.  Consultants are the worst whiners in the world.  I won’t go into the details of the whining I will only say, after a year of this, it was no longer worth the trouble (at-least for me).   As I have said in other posts, I am now concentrating on “How to Earn 10K per month without working”.

Understanding the Formula

The first thing I have asked myself is what is 10k per month?  The short answer is that it is $333 Dollars per day, 30 Days per Month – or $476 Dollars per day, 5 Days per week.

What is 10K per Month

Days Per Month	Amount Per Day	Our Goal
30	$333	$10k
22	$476	$10k

The next thing that I have done is to quantify “Money” into the smallest instrument that I would be willing to work with, in my case the smallest instrument that I want to work with is $25 Dollars.  So now I have identified the amount of “Money” that I need to earn each day, in my case $333 Dollars per day.  My belief is that the Internet never sleeps, so there is no reason to think people would not earn me money on Saturday and Sunday.  If my meter runs 7 days per week.  I have also quantified my smallest unit of measure – $25 Dollars per unit (in U.S. Dollars).

The the question becomes, how many units do I have to sell at my smallest unit of measure $25 Dollars to earn $333 Dollars per day?  The answer is that I have to make $25 Dollars 14 times each day.  So for all practical purposes, let’s round up, and say we have to sell 15 units of something at $25 Dollars each to reach our goal of making 10k per month.

The zerotomillion.com 10K per Month Formula

# Days I Work	# Units Sold Each Day	Price Per Unit	Amount Earned
30	166	$2	$10,000
30	66	$5	$10,000
30	33	$10	$10,000
30	15	$25	$11,250

You can see in the table above I included alternative prices for units.  I have seen e-Books for example for sale that were priced at $2 Dollars each.  The point really isn’t the formula that you use.  The point is – there are many different ways to get to $10,000 per month.  The only comment that I will make is that anything that will sale for $1 dollar will sale for $2 Dollars, so the lowest price that you should sell anything for would be $2 Dollars (in my opinion).

Developing the Plan

I think most of us would agree that selling 15 things at $25 Dollars each is not going to happen over night.  Just like anything else it will take effort.  So if it does not happen over night when will it happen?  Well let’s try to build a 5 year plan.  In this plan let’s say that we don’t get 15 people per day to pay $25 Dollars for something.  Let’s assume it will take multiple products all priced differently.  In fact, let’s say we have 10 products, each of them giving a separate income stream.  When we talk about the number of products in the plan, 10 becomes a nice round number, that would mean we would have to launch 2 products per year for five years to meet our five year goal.

So let’s talk about products…  What is a product?  A product by my definition is anything that can be sold automatically.  That means anything that can make me money without having to work, or at-least work very little.  Here is my short list:

1. Affiliate’s that give me money for my customers either purchasing something or signing up for something.
2. E-Books that I could write.
3. Education Modules that are paid for on-line.
4. Advertisers that pay by the month (I don’t want to sell it to them, I want them to find me).
5. Products that I am willing to sale on-line, but this means I have to handle shipping and fulfillment (need to find a way around this).
6. Software that can be downloaded.
7. Services that I am willing to provide or outsource (services are not passive income, so I would have to enjoy doing them).

Just like investing, I think our portfolio’s should be diversified.  So I think a good idea would be to pick 5 of the 10 items above and implement them 2 times each.  So my plan will look something like this:

• (2) – ebooks.
• (2) – Educational movies.
• (2) – Software Products that can be downloaded.
• (2) – Products that can be sold, but I will have to figure out a way for them to be manufactured, inventoried and shipped by someone else.
• (Several) – Affiliates, two won’t get the job done.  Since I am going to spend six months on each of these efforts for five years, I will simply implement as many affiliates as I can within 6 months.

Drilling Down

eBooks

If I am selling eBooks at $2 Dollars a piece then I have to sell 34 per day.  That is $68 dollars per day if we multiply $68 dollars per day times 30 days, we get $2,040 dollars per month, that is about one fifth of the 10k per month that I am shooting for.  The first question that I have is, “Can I create enough traffic to sell 34 eBooks per day?”  If I had to make a guess, then I would guess 1 person in 1000 visitors might purchase my eBook.  If that is true, then I have to have 34,000 visitors per day to my site.  Today, my top site gets 2000 visitors in a month.  I would say I have some work to do here.  So I would give my eBook plan a low chance of hitting the numbers I am looking for.  The one thing that could change this would be if the buying percentage were more like 1 in 100 visitors bought my eBook.  If that were the case I would only need 3,400 visitors per day.  That is probably very achievable in 5 years.  I will research the actual stats and post a different article just about eBook statistics.

Educational Movies

Educational Movies are fairly simple to build, believe it or not.  The learning curve on how to do this is about 1 week, and I already have a background in this area.  I also have many technical skills and a few technology specific Blogs that are well known in there given niche.  In fact, one of my eBooks will be “How to earn 6 figures by becoming  a Niche Leader and a Consultant“.  My Educational Movies will teach niche specific technical skills within the Oracle I.T. niche.  I will price these at $300 dollars per course.  In order to for me to earn my goal for this income stream of $2,400 per month, I have to sell 8 of them in a month.  So back to the real question, “If one visitor out of a thousand will by the course, can I generate 8000 visitors per day?”  Well, the good news about a niche specific topic is that the odds of a sale are increased significantly, because they are already interested in the topic or they would not be on the site.  Because of this I am changing my guess to be 1 buyer in every 200 visitors.  If that is true my niche site must generate 1600 visitors per month – very doable.

Software Products that can be Downloaded

I am currently researching software products that can be resold, and I will be writing another post specifically addressing software reselling.  Until I know what the profit would be on each piece of software all dialogue would be “Blue Sky”.  I will spare you any conjecture until I have done my research.

Products that can be Sold

My goal for products is to simply pay attention to things I am interested in that cost less than $30 dollars that I think I would be willing to buy using the Internet.  At this point I will simply take notes each day on the topic while I am working on my other topics.  Products will probably be one that I tackle at the end of the overall plan.  I will post the ideas from my notes in an upcoming article soon.

Affiliates

Each of these topics represents 1 year of my plan.  My affiliate plan will be the easiest of the 5 income streams.  I will make a list of things that interest me and I will look for affiliates that match.  My goal will be to sign up 2 affiliate partnerships per week for a year.  At the end of the year I should have 104 affiliate partners.  I am sure that some affiliates will be more profitable than others.  The question that immediately pops into my head is, “Can really earn $2,400 per month just from affiliates?”  Well if I have 104 affiliates that means that I have to earn $23 Dollars 1 time per month from each affiliate.  I hate to sound like a broken record, but as I research this I will write more posts.

I hope that if this post has done nothing else I hope it has at least made you think.  I would enjoy hearing your thoughts and ideas and I invite you to participate in the discussion by posting a comment.