Are we Working Too Hard to make $1,000,000
I often wonder, why are the make money gurus pushing the $1 million, $1 billion as a goal?
Is that realistic?
I am not suggesting that it is not attainable, what I am asking is do we all need to be making $1 million or $1 billion?
It seems gluttonous.
Granted, if you had that money, you could use it to help other people. However what about the idea of teaching a man to fish and feeding him for a lifetime. You don’t need 1 million fish a year to survive.
What if we showed people how to make $3000-$5000 per month. Even $2000 a month would be wonderful for most people. Heck, even $1000 a month would be a game changer for most people.
So I ask, is the business model for making $1000 a month the same as it is for making $100,000 a month?
What are your thoughts, ideas, solutions?
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I think it is realistic over a 5 year period. At the moment I try to work one hour before going to work and two hours in the evening.
On weekends I try about 6 to 8 hours.
I'm working right now!
Just to have an income of $1000 a month right now would be a blessing. For some, that is not achievable and for others it is. Working only part-time or a couple hours a day on your site will take months longer than anyone who can do this full time.
I think the business model for making a $1000 vs $100,000 are two completely different animals. It all depends on the scalability and what you know how to do, or have the money to invest in nicer content with images, ebooks, and the like.
For newbies like myself who have very little knowledge in the internet world aside from just browsing and looking things up. It is a bit daunting to even think that $100,000 a month is even possible. I would be happy with even $500 a month right now.
I believe working on the website is one thing, and working on generating qualified traffic is another.
The amount is subjective according to circumstances Brad. Some would see a million as way out of reach another will see it as not that much as far as buying power goes in today's climate.
Many of us work at this part time due to other commitments so cannot move along as fast as those able to work at it full time.
The main thing is, not to give up. We will all reach those goals, each at our own pace.
A very good point. For me $2000 a month would be a huge game changer. If I could then work on my sites full time, I could THEN aspire to much more.
It looks to me like the majority of peeps posting and learning here are part time. That's a slow gain, for those with no background in marketing.
Brad, my feelings are always; some will, some won’t, so what!
I think Kyle was just trying to open our eyes to the possibilities of internet marketing, not trying to set goals for everyone.
I agree...million dollars is a fantastic goal, but is it obtainable for me? We’ll see.
Thanks.
Joe
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It's up to each individual what they want to set for their goals but personally, yes, I agree with you. I don't have any dreams or goals of making a $1,000,000 or more per year online income.
I just don't see the sense in it at all.
However, making $1,000,000 or more over many years is very different. Many people will do that even at their jobs ($25k per year working 40 years = $1 Million).
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I think business principles remain the same no matter if the goal is $1k per month or $100k per month.
But they are not the same. There are a LOT of businesses that can be scaled up to $1k per month. Certainly, more easily and realistically achieved by an individual than trying to scale up to $100k per month.
What I mean is a person can decide to make 5 different websites and grow each website to grab only a very tiny piece of their niche market resulting in $200 per month income. In total that is $1k per month.
They could also do it with 2 websites each averaging $500 per month. Or 16 websites each averaging $62.50 per month. Both of these approaches would result in $1k per month total income.
Doing the same thing to reach $100k applying the same basic models...
A person would need to build 5 different websites and grow each website to grab a chunk of the niche market (perhaps a huge chunk or most of it depending on how narrow the niche is) resulting in $20,000 per month income. Totaling $100k per month income.
Or they could do it with 2 websites each averaging $50,000 per month (again this requires a large reach and quite possibly could represent most or all of the niche market depending on how narrow the niche market is).
Or they could do it with 16 websites each averaging $6,250 per month.
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I am not saying it isn't possible!
I am just saying I think most people, the average person, will find it much easier to generate $50 per month per website than they will to generate $500 per month per website. And certainly much easier and faster than generating $5,000 per month per website.
In general. Of course, it depends on factors such as average sale price. How big the niche market actually is. How much of a market share a person can realistically carve out.
Again, I am NOT saying people don't do it. I know there are many people making $5k even $10k per month from ONE website. BUT I think obviously that is not the norm.
Here I am talking about the average person. The nearly 2 million members of WA for example.
Some websites WILL take off. I think anyone has done this stuff for any time knows that. You can work on 3 different websites and 1 of them may be producing 10 times as much as the other 2 are together. But it is also just as likely they could all be pulling in a small amount per month.
And all I am saying is instead of fighting against that "natural flow" it might make sense to embrace it and build a business plan expecting that to be the case... no single BIG MONEY site but many tiny money sites.
Then eventually the person will likely hit upon a big one. Difference is they don't go into it EXPECTING that up front.