20k a Month Model
here’s the model for the economics of
a $20k per month business:
(First, let me say this…there are 2 other
models for this that I will share first, I don’t
really teach these….but you can do them,
and they work, although not as
efficiently as my model, so I want you
to at least know they are available)
here is model one: To get to $5k per month,
I showed you a model with 300 subscribers
per month and 2 products, right?
So one way to get to $20k per month
would be to just scale your traffic…get
4 times the traffic, keep selling the same
2 products – get to $20k per month.
And that is a fine model.
The reason I don’t teach it is because there
is (in my opinion) an easier way to get there
(the way I do it).
The other model that I don’t suggest (but
exists) is to create multiple $5k per month
businesses. So instead of one niche..you
have 4, each making $5k per month.
Fine model.
But…I don’t like it for this reason:
if you are in 4 niches, you have to be an
expert 4 times over.
and in reality, if you are an expert in 4 areas,
you probably aren’t as much of an expert
in any one area than if you put 4 times the
effort into just one niche to become
the very best.
Wouldn’t you rather learn from someone
who is the “best of the best” instead of
“just an expert”?
And if you would…wouldn’t your clients?
And wouldn’t it be easier to sell yourself,
sell your products…if you were the “best
of the best” instead of “just another expert”?
I think so.
So now for my model
Now, if you don’t remember the model
for the $5k business, PLEASE
go back and read that email again.
Because in that email I show
you the one month plan to
get to $5k per month.
To get to $20k, it won’t happen
in one month.
There will be several months to get there.
But I am going to show you what
a month looks like…several months
in, once you are at $20k, not
the progressive months as you get to $20k
per month.
Make sense?
The key would be to start with the $5k model,
then roll up to this one over several months
(If you wanted me to create a personal
plan for you on what each of those months
would look like, I could probably do
that for you…drop me a line, we’ll talk about
what you need and I’ll give you a price to do
it for you)
So remember the $5k per month business:
30 sales @ $100 = $3000
10 sales at $200 = $2000
Now here is the $20k per month business:
45 sales of product 1 @ $100 == $4500
30 sales of product 2 @ $100 == $3000
20 sales of product 3 @ $100 == $2000
30 sales of upsell product 1 @ $200 ==
$6000.
Now, that is $15,500 per month so far, with
4 products.
Now, the reason I said it would take
more than a month is…it will probably
take you a few months to get all the products
created.
Now…what about the final $4500?
You can create a couple extra products
to get to it if you want to…but what I have
found is that when you are selling 125 sales
at the $100 – $200 level, about 20 people
per month will become interested in coaching.
So…to get to $20k from $15.5k, you need
$4500 from about 20 clients…let’s
even call it only 15 clients..that would be $300.
That is actually a little low – but it
gets you to the $20k I promised.
But in real life I would probably go with
a higher price…like $500 or $1000
for a few months of coaching…with
upsell opportunities from there…which
would put you well over $20k per month.
Of course, that also gives you some freedom
if one product doesn’t sell as well as
predicted, and with those coaching prices, it
would be ok if instead of taking on 15 new
clients each month you only took on 10…
you would be able to give them more
attention, and not have as much
coaching work yourself…
Anyhow, as you can see, there is some
flexibility in this model, if you have higher
or lower priced items, then it changes
how many sales you need to get, etc.
But that’s about how I do it (actually,
my real life model is closer to the $100k
model, which includes LESS coaching
[when you are running a BIGGER business
you have LESS time for personal coaching])