The Math to Get to $100,000 Per Year
Lesson 1 Module 1
$100,000 a year seems like a lot of money, but let's put it into a different perspective...
How many items do you need to sell in order to make that much money?
Here are some of the breakdowns, find the one that fits you best.
1. eBooks, books and Instructor Guides
- Price: $37 per e-book
$37 * 2703 e-books = $100,011
2703/12 = 225 sales/month
2. Teleseminars: just a conference call
- Price: $47 registration
$47 * 2128 people = $100,016
2128/12 = 177 people on the phone/month
3. Subscription/ membership: e-letters, DVDs, and weblinks sent every month
- Price: $67/month
$67 * 1492 = $100,000
1492/12 months = 124 subscribers total/month
4. Webinars: power‐points, etc
- Price: $67/registration for webinar
$67 * 1493 = $100,031
1493/12 months = 124 registered webinar attendees/month
5. Tools and Templates: software or day planner, apps, programs, website templates
- Price: $97/ software
97 * 1031 downloads= $100,0073
1031/12mo= 86 downloads/month
6. Audio Programs:
- Price: $297 per program
$297 * 337 = $100,089
337/12 = 28 sales/month
7. Seminars/ Live Events:
- Price: $497/ ticket
497 * 202 people=$100,394
202/12 = 17 sign‐ups/month
8. Online Course
- Price: 997
997 * 100= 99,700
100/12 = 8 sales/month
9. Video Program: they can watch it
- Price: $1000 Video course
$1000 * 100 courses = $100,000
100/12 = 8.3 sales/month
10. Coaching/ Consulting
- Price: $2000/program
2000 * 50 transactions = $100,000
50/12 = 4 people/month
11. Being a Speaker
- Price: $5000
5000 * 20 = 100,000
20/12 = 1.7 speeches/month
12. Mastermind Programs
- Price: $10,000
$10000 * 10 people= 100,000
10/12 = 0.8 signups/month
I could list more variations of these with different price levels and there can be combinations, but I think you get the idea.
As you can see, you only need somewhere around 1,000 fans to make a living in a business, not considering taxes. The number 1,000 is not absolute. Its significance is in its rough order of magnitude.
A thousand customers to shoot for isn't an unrealistic goal, even when you are new. If you added one new fan per day, it’d only take a few years to gain a thousand.
This also means that you don't necessarily need a large niche. With the internet, the most obscure under-selling book, song, or idea, is only one click away.
You probably heard about the sum of obscure long-tail keywords having more volume than head keywords. Similarly, eBay, Amazon, Netflix, etc, noticed that the total sales of *all* the lowest selling obscure items would equal or in some cases exceed the sales of the few best selling items.
Therefore you don't even need a large niche to make a hundred thousand dollars. Even if only one out of a million people were interested in your product, that’s potentially 7,000 people on the planet.
The thing is, the big corporations are not equipped to connect with small niches of people. That means the long tail is wide open to you.
Now let’s get your product out there to make you money!