One of the reasons I am most grateful for the internet is because you can create passive income and never have to live paycheck to paycheck.
The purpose of this guide is to show you the road-map to starting an online side business in the next 48 hours.
This guide is for ambitious entrepreneurs who are willing to create value. This is not a get rich quick scheme for scammers and I cannot promise that you will make a million dollars with a magic button.
People like Brendon Burchard, Pat Flynn, Jermaine Griggs and Frank Kern have built 7 and 8 figure businesses online.
What I am promising here is that you can do the same. Practice the steps I am about to teach you and soon you can have a profitable side business that may one day bring enough revenue to replace your present career.
The general Internet Entrepreneur Road-map looks like this
- Find a market
- Create or Choose product
- Build website
- Get traffic
- Sell product and get automated passive income
Passive income is money that comes in even when you are not trading time for it. A regular 9 to 5 requires you to either login or show up at work to get paid. Being a slave to time is not the way to wealth. In this blueprint I will show you how to turn your laptop into an ATM.
The biggest billion dollar opportunities in this industry are:
- Coaching: life coaching, fitness coaching, relationship coaching, business coaching etc. From what I hear, this is one of the fastest growing industries in the world.
- Niche Info products: fitness, parenting, martial arts, piano lessons, motivational speaking, personal development, advisory etc.
- E-Learning: selling information and coaching to businesses. Businesses like Lynda have been in this space for years.
- E-commerce sites: selling either information products or physical products online. Amazon.com and Shopify are some big players in this space.
The Main Product Types in this category are:
Liquidator or small fix:
Usually under $40 EBooks, guides, special reports etc. Some people call them tripwire products because they get leads into a sales funnel. (More about funnels later)
You need to sell lots of them to make a good income. Pat Flynn started out with an EBook which brought him over $7,000 in monthly sales.
$30 to $300 products that are usually a mix of pdfs, videos and/or audios.
There are products in this space that teach people everything from self-defense to how to get your child into an Ivy League college.
If you sold only 30(one a day) of these products per week at $300, you would have $9,000 a month.($108,000) There are over 2 billion people online so selling to 30 people is very possible.
$500 to $4,000 online courses that offer a specific value. The content is usually released (drip-fed) over a set period of time. If you have ever taken a 3 week online course, this is what it was.
Many online businesses have made this their bread and butter. If you sold a $800 course, you would only need to sell 20 a month to get $16,000. That is $192,000.
Do you see how easily this adds up?
Big Ticket and Interactive
$3,000 to $100,000 live facilitated and modulated classes. High ticket coaching, seminars and masterminds are examples of this product type.
At $4,000 per ticket, all you need to do is sell 5 seats per month to gross $20,000. That becomes $240,000.
Membership and Continuity
$10 to $300 monthly payment programs. Think of gym memberships where people pay for monthly value. You can set up a membership site with sites like Wishlist Member and Gumroad.
There are people who get paid monthly to coach their clients or consult on product for $100 to even $5,000.
You can also create a system or turnkey solution such as an app or software that solves a problem. I am biased towards information products and specifically online courses.
- Write down your income goal for the next 12 months. For example, if you want to build $100,000 asset write it down.
- Divide that number by 12 to get your monthly goal. Using the above example this figure would be $8,333.
- Check your gut(spirit, instinct), choose and a price you are comfortable with for starters. For example you can decide to create a $370 video course.
- Divide monthly income by price of product to get how many sales you need.
Sales you need =8,333/370=23
This means you only need 23 sales a month to hit your target.
- Write this down and place it in a visible place. Use this as your vision board every day and say it with your mouth to build faith.
I, (insert name) will receive $8,333 per month in sales by selling a Modulated online course product.
I will sell 23 products per month for $370 each.
Conceptual side of online business
- Your message/topic/value
Find and develop your topic or message: List the things you are good at. The things others compliment you on. The things you have experienced that others struggle with. .The things you excel at. The things you find easy that others complain about. The things you have been paid a lot of money to do. The things you love so much you can do all day.
Find out which of these are your dominant strengths and interests.
Even if the idea sounds crazy you may still be able to create a business out of it as long as there is demand.
Demand is what justifies supply. Once you know what you are interested in and the product you are willing to build or sell, you need to find out who wants or needs it.
Paying clients can be described as
a. passionate about their concern,
b. can be easily reached and are
c. great in number.
This is the perfect mix.
If you are selling a product to help people train their dogs or manage their schedule better, searching for all men in the forties is not enough. Searching for new parents under the age of 30 who have just moved into a new apartment is a better market. They are a better market because it is specific.
Think of this as feeding starving people. You can find people who are passionate, great in number and can be easily reached with the following methods.
Clickbank is one of the biggest marketplaces online. Visit the Clickbank market place and type in the keywords for your product. Look at how many other people are selling a similar product or catering to that niche. This is an indicator of demand. If other people are already selling to your prospective clients, then there is obvious demand. Clickbank also has what they call a Gravity score. It is a measurement of how well a product is doing and affiliate sales. The higher the gravity score, the better primed the customers in that niche are. We go into detail about this in the course.
2. Google Keyword Planner
Once you sign up for Google’s Keyword planner, look out for how many monthly searches your keywords have. The higher the searches, the more demand there is for a product. This also means you will definitely have competition in niches like health, making money online and real estate. If your keywords turn up just a few searches, it may mean that you need to do more research or that your niche is not yet popular.
3. Amazon.com book reviews
When people are passionate about something, they talk about it. Passionate people also like to write reviews. Check out the top 5 books in your niche and look at how many people have reviewed them. Pay attention as well to the language they use. Look out for how they express their hopes, dreams, fears and core desires.
4. Personal Interviews
Make a list of 3 prospective clients and interview them. Immerse yourself in their character to find out who they are mentally and what their ultimate desired outcome is.
5. Purchase history
If you have access to records of purchase history, it will inform you on how to price, positioning and other important stuff. For example if you are selling a healthcare product, you will notice what seasons of the year most people make those purchases.
The object of this exercise to find out if there’s demand for your product or service. You will also find out other important information such as trends, purchase history and pricing.
Know your Deeper Thought Life System
Many people have two lives. The life they live on the outside, which constitutes their job and circumstances. Their second and what I call Deeper Thought life is the life, dreams and experiences they would like to have.
Write down what exactly your perfect life would be. This is your Deeper Thought Life
For example, you could say “In my perfect life I would be working at a business I love and with clients that love, appreciate me and pay me what I want. My spouse loves me and never questions my decisions but supports me in all my endeavors. I drive an $80,000 car and have two houses. One of them is facing the beach and I frequently take long refreshing walks with my family. In the mornings I wake up, eat breakfast with my family and sometimes go to the gym at least 3 times a week. At lunch time I meet other friends who are entrepreneurs and we eat at a new fancy place every week. I am respected in my industry and top conference organizers frequently call for me to come and share my knowledge. My annual income after taxes is over $500,000 a year.
Notice I described the person not by money alone but also by feelings and experiences.
Do this exercise now to define yourself past the surface. Why do you want to start a side business? Why do you want passive income? Do you want these things to gain respect in your community and to have enough so that you can quit your job?
I have done this exercise for myself. You may be surprised at the results.
- Empathy and Your Ideal Client
Look for a target market that is passionate, great in number and easy to reach.
Focus on selling to one person. In thinking about your ideal client, don’t think about 3 people or an entire niche or market. In your mind, see only one person you are going to serve.
The better you know that person, the more value you can create and the more you will get paid.
Find out who needs your message and find out what specific needs they have. Make sure you can define this person and their problem as well as you can your spouse or best friend.
You must know what this person wears, what they look like, what websites they visit, what schools they attend, where they work (or the kind of job they have), purchase history (if they have paid for this course or kind of help before), who they paid, why they do not have results in this area already, how much they are willing to pay for this solution. You don’t want general data or just demographics in this step.
You want personal data, emotions and the kinds of words they use. You also want to know what their deepest desires, hopes and fears are. They may say they want a $10,000 raise so they can drive a better car but after questioning them, you will find out that what they want deeper than that is not just a car but respect from their peers or spouse.
If you can say to them “I know you want more respect.” They will think, “This person knows my thoughts, let me find out what he has to offer.” For example if you are catering to college students who are studying Chemistry, it may be that the degree isn’t their ultimate desirable outcome.
For example, their ultimate desirable outcome may be to please their parents, get into medical school or get a 6 figure income in a few years. If you go to such a client and say “I know you want to become better at Chemistry so you get a PHD, they will know you don’t understand them”
Describe what your Ideal client’s Deeper Thought Life is. Write down their deepest desires, goals and aspirations.
The closer you can get them to their Deeper Thought Life, the more money they will pay you and the more trust they will give you. You will not have to convince them to buy. Many people are trying to convince people. They interrupt people and try to sell to them. In this case you are using what I call Identity Marketing. You are selling to their heart and not their head.
Here is an example from one of my online businesses catering to professionals who want a side business.
She wants to quit her job but would like a safety net of extra income before she resigns. She is considering getting a part time job. She has very little motivation to go to work and believes she deserves more fun in her life.
She would love to have significance, credibility and respect from her family and community.
She has not started her own side business because she is a little confused and scared. The truth is she is a bit overwhelmed with all the information out there and just wants a step by step system that will guide her through the process.
She would love to have more peace of mind, freedom and flexibility in her schedule so she can invest time doing the things she loves.
Now that I know her core desires, needs and aspirations I do not have to manipulate or convince her. I simply have to match my solutions to her needs.
“Would you like to have a business that pays you an obscene amount of money where you get to do something so much fun that you say to yourself, “I can’t believe I’m being paid for this”?
Maybe you have never considered what the perfect life would be but let me help you.
If I said to you, I have a course or workshop where we walk through this process together and you will have a clear path of what you want, would you be interested?”
Have you noticed I didn’t try to convince them? All I did was repeat what their Deeper Thought Life is to them. They recognized what they have desired all along from my copy above.
I wasn’t selling to their heads, I was selling to their hearts.
You must know who he or she is
You must know what he or she wants better than anyone else
You must really care about this person
You must do all that it takes to get him or her as close as possible to that ultimate desirable outcome (Deeper Thought Life)
Most importantly, only use this system to serve people and not to influence them negatively.
Become your client mentally
By this I mean that you should start to think like your ideal client or student (if you’re selling online courses). Visit the places they visit. Find out what they read and watch. Research who they are already listening to. If you met one of them today, would you be able to have a lively 2 hour conversation?
The Principle Of Instant Gratification: Create 3 blog posts or videos that offer your highest value
One of the easiest ways to get someone to say yes to you is to give them Instant Gratification. This is the reason the food, automobile, clothing and housing industries will always have customers. Let’s use the automobile industry as an example. When you see a car you want, your mind almost lets you drive it mentally. Once you take a test drive and go back to your own vehicle, it almost feels like your present car is old. The instant gratification of driving a brand new automobile makes your car undesirable for a while.
Knowledge works the same way. We trust people who offer us value before they ask us for money.
This is where you create 3 high level and extremely useful pieces of content that will get your prospective client closer to their Deeper Thought Life and ultimate desirable outcome. For example if you are teaching Advanced Math to college students, give examples of shortcuts they can use to solve their most challenging questions.
Is your product for Stay At Home mothers who want to be able to fit into the jeans they bought two years ago? Do the same.
Offer them some quick 5 minute exercises that will give them instant gratification.
Setting up your Website
Your website should be able to do 3 things well.
- Give value(offer a solution)
- Capture leads
- Sell a product
To do this you need to set up the following:
- Domain name and hosting e.g. Site5 or BlueHost
- Website platform e.g. WordPress. Most online entrepreneurs use WordPress because it is quick and easy to set up. The themes are also fairly cheap. (I started making money online with a free theme before I even considered paying for one. A lot of people obsess over domain names and themes for too long. Pick a theme that is optimized for delivering value, capturing emails and selling products. That’s all you need to start.)
A High Converting Website
Contrary to popular belief, the beauty of your site is not directly related to your sales. A high converting website needs these 4 main types of pages.
- Opt in Page
This is the page you send traffic to in order to get their email addresses. You need highly targeted email addresses to populate your list.
- Sales Page (Sales letter, Sales video)
This is the page or blog post or video people watch before they click a “Buy Now” button.
- Order Page
- Content Page
Examples are Thank you pages, Launch videos, Articles/Blog posts, Webinars etc.
Creating Your Webpages
Go ahead create these now. Or follow this link to get access to step by step instructions.
About page: To describe your offering and who you are. The About page is the most visited page for many websites so make it succinct but remarkable. Tell the visitor what benefits they will get now that they are on your site.
Blog: A place to offer at least 5 pieces of highly beneficial content. Create 5 YouTube videos or 5 blog posts and upload them here.
Quick Solution Carrot (free report, guide, mini course, free coaching call etc.): I like to think of this the trailer to a good movie.
This is a free piece of content that you will offer to your visitors in exchange for their name and email address. In internet marketing, the money comes from building a relationship with your list. If you have a list of 10 people who trust you and buy a $100 course from you each month, that is $1,000 in extra income. In a world of over 6 billion people, I believe you can get at least 10 people each month to buy from you if you practice the strategies I’m about to teach you.
Depending on how much value you want to provide you can sell more than one product. You can sell your own products and bundle them with affiliate products.
For example you could have an EBook ($27), 4 hour Video Course + workbook ($297), Coaching call $120 an hour and a monthly Membership program $37/m (where you share weekly or monthly videos with your audience. This product mix is $481. If you make 20 sales a month on this mix that becomes $9.620 in extra monthly income. That equals $115,440.
You do not have to use the product mix above but I wanted you to see the potential of starting an online business.
My recommendation is to start small. Create a 50 page EBook or 3 hour Video course and start selling today.
Optin Form (Sign Up form)
This is a form that allows you to capture leads. One of the greatest mistakes I made starting out was concentrating on the design of my site instead of the Lead generation. Pop over, side bar and inline forms have been found to be highly converting. Aweber, Getresponse and Infusionsoft are email management platforms that provide an optin form.
Email Auto responder
Ever entered your email into a form and received a follow up email in a few seconds? That is what an auto responder does. It is a way to send out scheduled emails to your list.
I would caution that you try not to abuse this. The more personal and relevant your communication is, the more trust you will build with your list.
Auto responders are for automating your value delivery not spamming.
Gumroad, PayPal, Stripe, Wishlist Member, KajabiNext and Clickbank are platforms that allow you to take payments online. For a simple EBook or course you can start with Gumroad since it’s free to sign up.
Your contact details.
Congratulations. You have a fully functioning online side business.
I know you are probably wondering how you are going to drive traffic to your site.
These are 2 cheap and proven ways to drive high converting traffic to your site are:
When you create a lot of guest posts on other blogs, search engines perceive that your site is important and rank you better. More importantly, some of the visitors of those guest blogs will see your content and join your list.
Authority and Destination sites:
These are sites visited by hundreds of thousands and in some cases, millions of people daily. Buzzfeed, Huffington Post, Forbes, Quora and Reddit are examples. Create a list of 50 sites that you will contact to have your content featured. Even a simple mention on an authority site can give you 1,000 new sign ups a day. If 50% of that number converts into sales for a $370 course, that is $185,000.
NB: Online advertising is also highly effective if you are taught how to do it right.
I hope this post was detailed enough. If you want to accelerate your side business, check out this course for better guidance.