How I Built a 7-Figure Business in 7 Months

Summary

In January 2024, the speaker embarked on a new business venture in online education, leveraging the platform 'school' to create a scalable digital product. They invested over 40 hours crafting a free 'school master class' which gained significant traction on YouTube. Within a month, their paid School Community reached $30,000 per month, and now consistently generates over $100,000. The speaker emphasizes the power of online education and the subscription-based model, suggesting that by following successful frameworks and adding personal touches, one can achieve similar success. They offer a free 'school master class' as a guide for those interested in this path.

Takeaways

• 🚀 On January 15th, 2024, the speaker started a new business from scratch which now generates over $100,000 per month.
• 🔑 The business success was not achieved through traditional models like SMMA or dropshipping, but through a new business model involving online education.
• 💡 The speaker was previously burnt out from running an SMMA and sought a more scalable and enjoyable business model, leading to online education.
• 🌟 The speaker's online course and community model is scalable because it allows for creating a product once and selling it multiple times.
• 📈 The speaker's business grew rapidly, reaching $10,000 per month in the first 10 days, doubling to $20,000 by day 20, and reaching $30,000 by day 30.
• 🎓 The platform 'school' was identified as a key tool for creating online communities and monetizing passions or expertise in an educational setting.
• 🏆 The speaker participated in the first 'school games', earning $44,000 in 27 days, which led to an invitation to Las Vegas to meet with key figures in the industry.
• 🔄 The subscription-based model of 'school' allows for a lower monthly fee, creating a sustainable and recurring revenue stream, similar to major companies like Netflix and Spotify.
• 📚 The speaker advises aspiring entrepreneurs to learn from successful models in the market, adapt them, and put their own unique spin on the business.
• 🆓 A free 'school master class' is offered by the speaker, detailing the process of creating a successful $100,000 per month School community in just 7 months.

Q & A

What significant change did the speaker make on January 15th, 2024?

The speaker started a new business from scratch.

What was the speaker's previous business before starting the new one?

The speaker was running a social media marketing agency (SMMa).

Why did the speaker decide to switch from an SMMa to online education?

The speaker was burnt out from the constant stress of delivering client results and the lack of scalability in the SMMa business.

What was the speaker's initial investment in the new business model?

The speaker did not require any startup capital to start the new business model.

What is the name of the platform that the speaker used to create their online community?

The platform used by the speaker is called 'school'.

Who are the founders or significant investors behind the 'school' platform?

The 'school' platform was founded by Sam ens, and Alex Orosi made a significant investment into it.

How did the speaker's business grow to generate over $100,000 per month?

The speaker's business grew through creating a free 'school master class' that gained traction, followed by launching a paid School Community.

What is unique about the 'school games' mentioned in the script?

The 'school games' are contests where participants can earn money and potentially be invited to exclusive events by performing well in the platform's challenges.

What is the core business model of the 'school' platform?

The core business model of 'school' involves selling online courses and communities for a lower monthly fee, creating a subscription-based, scalable business.

How did the speaker approach creating their online course and community?

The speaker copied the framework of successful entrepreneurs, studied their strategies, and then put their own twist on it.

What advice does the speaker give to those interested in starting an online education business?

The speaker advises to observe and emulate successful online courses, understand their market positioning, and then apply one's own unique approach.