This question originally appeared on Quora: How can I make $12,000 for each of the next six months? Answer by Rizwan Aseem.
WARNING! There isn’t an easy way to do this.
But there is a simple way. The simple way is this:
Your goal is to make $10,000 per month for six months so you can pay for higher education—which can be broken down to a simpler “make $350 per day, every day,” so in 30 days you will make $10,000—which can be further broken down to selling something that will net you a profit of $350 per day. Let’s call this ‘thing’ the product.
Let say we’ll sell the product for $697. Which means we will have $347 to make the product, to advertise the product, to find someone to buy the product, and to pay for the merchant account processing fees.
The best thing for us to do is that we reduce the costs of producing the product as much as possible so we can devote more money to finding the customer and selling to the customer.
B) The plan
Now that we know the price and the advertising budget available to use, we can go ahead and talk about the product.
The best products that fit our requirements are information products. Products that are created using intellectual property.
The business plan is as follows.
1. Find something you are good at doing…
…that you can regularly do, that you don’t even consider a problem doing. It helps if what you are good at is related to health, money, relationships, hobbies, or sports.
So for health, if in your life ever you’ve been overweight and lost weight and kept it off, this is an expertise. Or if you’ve even been able to find a girlfriend for yourself while your friends struggled to find one, than you’ve got an expertise. Or if you’ve discovered a quick way of making more gold in World of Warcraft, than you’ve got an expertise, etc.
2. Find a group of people who are having a problem…
…that your expertise can solve. These people are all probably like you, or belong to an association that you belong to.
So if you are a real estate agent, then the association of real estate agents can be a group of people who could benefit from your expertise of losing weight fast. Or if you are a welder, then there is an association of welders or mechanics who you might be able to serve by helping them find a girlfriend, etc.
Then ask three people if they would buy a product to solve this problem. You haven’t created the solution just yet, you’re just validating your idea. Ask them how much they would pay for this solution.
Keep doing this until you find at least three people willing to pay for your product. This will validate the idea for you. (This is an excellent tip shared by David Francis in the comments.)
3. You create a product that solves a problem that they are having
What this means is that you write a book, create an audio program, record video tutorials solving a problem, or a software program that we can sell for $697.
Depending on your expertise and personal preference, you can create each of these products overnight.
For now we’ll take the video tutorials because they are the simplest thing to create. You can use your computer camera and speak into the camera to record your tutorials. Once you create the video tutorials teaching your audience how to do what you have an expertise in, then you can go ahead and sell it to them.
4. Create a sales letter
What this sales letter does is share your story with your audience about how you solved the problem for yourself. You can write this a number of ways. But as a start, just share your entire story about how you discovered the solution.
Answer the following questions:
- Who you are and what you are going to share with them?
- How you tried everything and failed?
- What were some methods that you tried but did not work for you?
- How you were finally able to figure out what you were doing wrong and fix it?
- How you made this into a system?
- Why you are sharing this system with them?
- What the system is and what it will do for them, what are the benefits they will get, what problems will they solve.
- What they will get in this system, what is the product that you are giving them?
- What is your guarantee? (Make this an unconditional 100% 90 day money back guarantee)
- How much money would it cost them if they spent the time in their life to figure it out themselves?
- How much time they can save by investing in your solution?
- What is the investment that they can get this solution for? (Try one payment of $697 and 4 Payments of $177 per month.
- Why they should buy immediately?
- Re-iterate what results they will get, how much they will pay today, and the guarantee that you are providing them.
5. Test the marketing
Once you’ve created the sales letter, test it out with $100 on Facebook marketing or Google Adwords—and test out the marketing too. What testing it out means is that you spend the $100 on marketing and see how many people buy from you. Then you take the money and re-invest it in marketing and try to:
- Improve the marketing.
- Show your offer to more people by increasing your advertising budget.
The testing means that you keep improving the marketing. You test out different headlines to improve your conversions and get better results on your marketing.
C) The timeline
You’ve got the goal and you’ve got the plan. Now comes the timeline.
Spend the first week creating the product. This product has to be good enough. It should deliver the results that you promise. Don’t worry about making this flashy or anything.
This is the basic product. You can make it flashier once you’ve got the first $10,000 in your bank. Right now, you want to get it done and get it out to your customers. This way you can test it out in the real world. The marketing is the most important thing.
Spend the second week creating the sales letter. This is more important than the product itself. If your sales letter sucks, no one will buy your product, no matter how good the product actually is.
If your sales letter is good, you can get your customers to at least try the product.
Spend the third week creating the ads. The Google ads, the Facebook ads, or whatever you are using. The ads are what will get the sales letter read. This is more important than the sales letter itself.
But a note of warning: Don’t get stuck. Having a bad ad is better than no ad at all. Get it done and test it online.
Spend the fourth week creating better headlines and testing them. The headlines on the ads and on the sales letters will increase your conversions.
Spend the second month improving your conversions, and increasing your reach. Track everything. Track the number of people who click on your ads, read your sales letter, and buy the products. Track everything and then see whether you are moving up, or down.
Increase your reach by creating a short report, or audio that you can give away for free to your customers. This is where you will start creating a list of people who are interested in the topic that you are teaching them.
Spend the third and fourth month improving your sales letter, and creating a connection. Use the feedback that you get from the tracking and improve your sales letter.
You can increase your connection with the people who came to your website and got the free download by writing a newsletter to them. This newsletter is an email that you send out to your audience every other day with tips, tricks, and other questions that they’ve asked you in the last few months. You answer their questions and give them free answers to the questions that they are thinking or asking to you.
Spend the fifth and sixth month improving your product. By now you will have a number of customers giving you feedback about what you’re doing right and what you’re doing wrong. Improve your product based on this feedback.
D) The payment processing
The first month—or until you have your first 10 customers—use PayPal. You can keep using them for as long as you want, but once you have more customers then you might want to think about using ClickBank, e-Junkie, or other payment processors.
You now have a simple four step plan that you can print, learn, and implement right now and have an $10,000 income in the next six months.
Is it easy? Probably not—nothing good in life is easy.
But it is simple. Go ahead and do it right now—this is for your freedom.