If I Wanted to Make $10,000 as a Student, I'd Do This
Summary
TLDRThis video script narrates the inspiring journey of a second-year medical student in the UK who earned his first £10,000, leading to a profound transformation in his university experience and financial independence. The speaker shares insights on how to make money online, emphasizing the importance of providing value and the potential to scale earnings significantly. He outlines strategies such as selling products or services, leveraging high-income skills like web design or social media management, and targeting businesses to achieve substantial profits. The script encourages students to embrace their skills, learn marketable abilities, and approach businesses with confidence to earn life-changing income.
Takeaways
- 😀 The speaker made their first £10,000 as a second-year medical student in the UK, which significantly changed their university experience and life perspective on money.
- 💡 The realization of how to make money online led to a snowball effect, with profits increasing to £40K and then £50K in subsequent years, eventually building a multi-million business.
- 💰 The empowerment of earning money independently was more profound than receiving it from family, which is a valuable lesson for students and anyone looking to achieve financial independence.
- 🚀 The speaker emphasizes that making £10,000 is a learnable skill that can massively change one's life, encouraging viewers not to be intimidated by the figure.
- 🔢 The speaker advises starting with the end in mind, suggesting two broad ways to make money: selling products or services, which involves providing value to those who can afford to pay for it.
- 📈 The concept of working back from the goal is highlighted, using the example of making £10,000 in a single day by teaching a course and attracting 150 attendees at £89 each.
- 🔑 The idea of charging a small amount to a large number of people or a larger amount to a few individuals is presented as viable strategies for reaching the £10,000 target.
- 🛠️ High-income skills such as copywriting, web design, graphic design, and consulting are suggested as valuable services that can be offered to businesses for significant earnings.
- 💼 The speaker shares personal experience with web design and social media management as services that can be offered to local businesses, emphasizing the importance of providing substantial value.
- 📚 The speaker recommends starting with free services to gain experience and testimonials, which can then be leveraged to secure paying clients and increase prices over time.
- 💡 The mindset shift from scarcity to abundance is crucial, as it changes one's approach to earning money and makes the goal of £10,000 feel more achievable.
- 🌟 The final takeaway is that making £10,000 as a student is highly achievable in many countries and can lead to even greater financial goals, with the speaker sharing their journey of making millions online.
Q & A
How did the speaker's first £10,000 affect their university experience?
-The speaker's first £10,000 significantly changed their university experience by introducing them to the concept of making money online and providing financial independence, which allowed them to go on holidays and trips without worrying about finances.
What was the speaker's business revenue and profit like after making their first £10,000?
-After making their first £10,000, the speaker's business grew to several million in revenue and profit annually.
Why did the speaker feel empowered by earning their own money?
-The speaker felt empowered by earning their own money because it provided a sense of independence and self-sufficiency that asking their mom for money would not have given them.
What is the speaker's advice for students who want to make £10,000 a month on the internet?
-The speaker advises students to learn the skill of making money online, emphasizing that it is learnable and can massively change one's life. They suggest starting with the end in mind and considering selling products or services.
What is the difference between the speaker's initial perspective on money and their current one?
-Initially, the speaker had a scarcity mindset and thought like a teenager for whom £20 was a lot. Now, they have a broader perspective on what constitutes a large amount of money, making the goal of earning £10,000 seem more achievable.
How did the speaker make £10,000 in a single day as a third-year medical student?
-The speaker made £10,000 in a single day by teaching a course called the BMAT crash course, selling tickets for £89 each, and attracting 150 attendees.
What are the two broad ways to make money according to the speaker?
-According to the speaker, the two broad ways to make money are by selling products (goods) or by selling services.
Why is it easier to sell £2,000 packages to businesses rather than individuals?
-It is easier to sell £2,000 packages to businesses because businesses value money differently and are more likely to pay for services that can provide them with significant value, whereas selling to individuals can be more challenging due to their personal financial constraints.
What high-income skills did the speaker mention that students can learn to charge businesses £2,000?
-The speaker mentioned skills such as copywriting, web design, graphic design, and software consulting as examples of high-income skills that students can learn to offer valuable services to businesses.
How does the speaker recommend starting social media management as a service for a business?
-The speaker recommends starting by offering social media management services for free to the first client to gain experience and testimonials, which can then be used to pitch to subsequent clients with confidence.
What is the significance of providing more value than the cost charged to a business?
-Providing more value than the cost charged ensures that the business feels they are getting a bargain, which can lead to referrals, long-term contracts, and an increase in the service's perceived value.
How can a student leverage their skills in social media management to make £10,000?
-A student can leverage their skills in social media management by offering their services to local businesses, starting with a free trial to build a portfolio and testimonials, then gradually increasing their rates as they secure more clients.
What is the speaker's view on the accessibility of making £10,000 as a student in various countries?
-The speaker believes that making £10,000 as a student is very achievable in countries like the UK, US, Canada, and most European countries, and that the approach may need to be adjusted based on the purchasing power parity of different countries.
What book does the speaker recommend for students to improve their productivity?
-The speaker recommends their own book, 'Feel-Good Productivity,' which teaches how to be more productive in an enjoyable, meaningful, and sustainable way.
Outlines
😀 First $10,000 as a Student: A Life-Changing Experience
The speaker shares their personal journey of earning their first £10,000 as a second-year medical student in the UK. This accomplishment introduced them to the concept of making money online, which significantly transformed their university life and financial independence. They highlight the importance of learning to make money as a skill that can change one's life, and they encourage students to not be intimidated by the idea of making £10,000. The speaker reflects on their growth from this initial milestone to running a multi-million business, emphasizing the power of a scarcity mindset shift and the value of providing substantial value to others in exchange for money.
💼 Leveraging Skills for Business Services: A Path to Profit
The speaker delves into strategies for making money, focusing on selling products or services by providing value to those willing to pay. They recount a specific instance where they made £10,000 in a single day by teaching a course on medical school entrance exams, illustrating the potential of charging a small amount to a large audience. They also suggest targeting businesses, offering high-value services that could justify charging significant fees, such as £2,000, and emphasize the importance of identifying skills or interests that align with market needs. The speaker provides examples like web design and social media management, which can be leveraged to offer valuable services to businesses, and stresses the importance of starting with free services to build a portfolio and testimonials.
🚀 Scaling Up: From Free Services to High-Value Offers
Building on the previous paragraph, the speaker discusses the process of transitioning from offering free services to charging higher fees, using social media management as an example. They advise starting with a free trial to gain experience and testimonials, then gradually increasing prices based on the value provided. The speaker explains the difference in how businesses perceive money compared to individuals and encourages aspiring entrepreneurs to aim for rejection while pitching services, as it will inevitably lead to success. They also mention the importance of leveraging referrals from satisfied clients to expand the client base and increase income, emphasizing the value of providing exceptional service to justify higher prices.
🌟 Achieving Financial Empowerment: From Student to Entrepreneur
In the final paragraph, the speaker reflects on the journey from making their first £10,000 to becoming a seasoned online entrepreneur, sharing insights on the mindset shift required to charge businesses for services. They discuss the importance of understanding the value of services to businesses and how a small monthly fee can be insignificant to a business's overall revenue but significant for an individual's income. The speaker also promotes their book, 'Feel-Good Productivity,' which teaches productivity techniques applicable to both students and business owners. They conclude by emphasizing that making £10,000 as a student is an achievable goal for many and encourages viewers to learn high-income skills and apply them to offer valuable services to businesses.
Mindmap
Keywords
💡Empowerment
💡Value
💡Scarcity Mindset
💡Social Media Management
💡Revenue
💡Imposter Syndrome
💡High-Income Skills
💡Testimonial
💡Referral
💡Productivity
💡Investment
Highlights
Making the first £10,000 as a second-year medical student in the UK changed the speaker's university experience.
The realization of how to make money online led to a series of profitable years, culminating in a multi-million business.
The importance of using personal earnings for university trips and holidays, fostering a sense of empowerment.
The learnability of making £10,000 a month on the internet and its potential to change one's life.
The speaker's initial skepticism about making £10,000 and the shift in perspective over time.
The concept of selling products or services as a means to generate income.
The strategy of working backward from the desired income figure to determine pricing and reach.
A personal anecdote of making £10,000 in a day by teaching a course to 150 students.
The advice to start with high-income skills such as copywriting, web design, or consulting.
The recommendation to leverage personal skills and interests to find marketable services.
The potential of social media management as a service for local businesses.
The strategy of offering services for free initially to gain testimonials and build a portfolio.
The importance of understanding the value of money from a business perspective versus a consumer perspective.
The process of gradually increasing prices after proving value to clients.
The use of referrals to expand the client base and increase income.
The speaker's journey from making £59 for a course to realizing the potential of charging businesses for services.
The accessibility of making £10,000 as a student in various countries and the mindset shift required.
The abundance of resources available for learning high-income skills and building a business.
The encouragement to learn a high-income skill and sell it to businesses as a path to making £10,000 as a student.
Transcripts
okay so I made my first $10,000 or
£10,000 cuz I'm here in the UK when I
was a seconde medical student and that
money genuinely changed my University
experience before that point I didn't
really have my own money but suddenly
when I made my first 10K a it introduced
me to the idea of like how to actually
make money properly on the internet and
that has completely changed my life
because then the following year I made
like 40K in profit the following year
after that was like 50k in profit now
it's like business does several million
a year in revenue and several million in
profit and all of that really stemmed
from the fact that I learned how to make
that first 10K as a student and secondly
it also helped transform my experience
of University because I was able to then
use that money to go on holidays and
trips and stuff and just not think too
hard about the finances admittedly if ID
wanted to I could have asked my mom for
the money and she'd have been like of
course etc etc but there's something
about independently earning that money
by myself that made me feel this
profound sense of empowerment in a way
that asking my mom for money really
wouldn't have done so I think for any
student watching this or anyone watching
this really if you haven't yet found a
way to make 10 k a month on the internet
off of your own back it is a skill that
is very learnable and it is a skill that
can massively change your life which is
why I'm making this video now the first
thing to say is please don't be
intimidated by the figure of 10,000 it
sounds like a lot if you told me when I
was 18 19 years old that I'd be making
videos casually teaching people how to
make 10K I'd have thought you were off
your rocker because the most experience
I had with money was earning like £15 an
hour which is like $18 an hour doing
private tutoring but when I learned some
of the strategies around how to make
money and learned even more of them over
the last 10 years I now look back and I
realize realiz huh I just had a skewed
perspective of money I was thinking too
much in a scarcity mindset I was
thinking too much like a teenager for
whom like $20 is a lot when you change
the way that you think about how much is
a big amount of money it really changes
the energy with which you approach it
and it makes it feel much more doable to
actually ear those sorts of
[Music]
sums so if I could go back in time and
give myself advice on how to make the
10,000 here is how I would be thinking
about it you kind of want to begin with
the end in mind so let's say the goal is
$10,000 now there's broadly two ways to
make money doing anything you can sell
products i e Goods or you can sell
services and it's generally worth
emphasizing that the way you earn money
is by providing value to people who can
afford to pay you for that value money
is simply an exchange of value so you
got to figure out how do you add at
least $10,000 worth of value to a person
or a business or multiple people or
multiple businesses so that's thing
number one that I would say thing number
two I would say is that you can really
just work back from the number so there
was actually one day in I think when I
was like a third-year medical student
where I actually made 10 grand in a
single day and the way I did that is
because I was teaching kids how to get
into med school so I was running a
course called the bmat crash course and
we were selling tickets I think for £89
£89 or something and we had 150 people
in electri theater so what is that so
that was £1 13,000 that I made in a
single day because I managed to get 150
people to pay me £89 to attend this
course that I was teaching it cost me
about £10 to sort of print the booklets
and so this ended up being I don't know
about £1,000 in booklet costs which took
the profit down a bit I think it cost
about 2k to hire the venue and so
actually I ended up with about £10,000
worth of profit from a single day this
was because I realized I had value to
add I could charge a relatively small
amount of money £89 for that value but I
somehow got 150 people to attend the
thing and therefore was able to make
10,000 a single day so you can charge a
small amount of money to a relatively
large number of people in order to make
this happen the other way of going about
this which is in some ways easy
is that you can you can try and find
five people to pay you 2 Grand this is
actually way easier and this is probably
the advice that I'd give to myself if I
were a student trying to make money is
that it's generally very hard to make
money by selling to individuals which is
what I was doing here I had a bunch of
different advantages I've been doing it
for 3 years at that point we had traffic
to our website we had good word of mouth
etc etc it's a lot easier to sell $2,000
or $2,000 packages to business to
businesses and to do that five times so
one thing that you might like to think
of as a student is what is the sort of
service you can offer to a business that
would be worth more than £22,000 to that
business so now we're going to zoom into
that we want to get five
clients we just want to get five clients
paying $2,000 and that is how we're
going to make our first $10,000 as a
student so the next question is probably
how the hell do you do that now there
are various High income skills that you
can learn that would help you actually
charge $2,000 to businesses and just do
that five times I've already made a
video on those that'll be linked up
there and down below it's about things
like copywriting web design graphic
design Consulting for software um but if
I were to go back in time and give
myself advice I'd be thinking firstly
what are the things I'm already good at
or already interested in you ideally
want to find that sort of vend diagram
of things that you're good at things
that you enjoy and things that there is
a market need for in my case when I was
18 I would have made this money by doing
website design why because I've been
doing website design since the age of 13
and I knew how to code and I knew how to
develop stuff and design stuff and I'd
been doing that was the stuff that I
would do in my spare time when I got
home from school that's kind of weird
most people are not like that if you
have something like that great go with
that specific thing in my case it would
have been web design or it would have
been web development cuz it's not that
hard to find businesses who are willing
to pay $2,000 for a website to be
designed and developed it's actually
quite a small amount of money in the
grand scheme of things but let's use a
different example I didn't mention this
example in my high income skills video
and so we're going to talk about social
media
management if you're a student and
watching this you are probably quite
good at using social media and that you
understand what Instagram is and Tik Tok
is and how YouTube works and possibly
even how Twitter and maybe LinkedIn
works if you're a student watching this
you have grown up in the age of social
media most business owners most people
who run businesses did not grow up in
the age of social media because they are
old and so being able to offer social
media management as a service to local
businesses or online businesses can be a
highly valuable thing to do a local
coffee shop Pro probably wouldn't pay 2K
a month for it but they might pay 1K a
month and then that might be a 12-month
contract and now you've just made 10
grand with $1,000 a month contract for
12 months easy right like it's not it's
not too hard to do that basically any
local business knows that they want to
get more leads and every local business
knows knows that they should be on
social media but they probably don't
know how so local coffee shops local
restaurants local accounting services
the local dentist office the local
private practice doctor office you just
look at any business that is within a 3
m radius of your house or your
University or your school and you can go
up to them and you can ask them
questions you can ask them what they're
struggling with on a social media front
and you can say hey I do this sort of
think I'd probably recommend starting
off doing it for free for your first
client and say hey I'm a student I'm
looking to get experience I'd love to do
this for free for you when you do it for
free they'll give you a testimonial you
can turn them into a case study and now
for subsequent clients you can say hey
look this is what I did for this coffee
shop over here and here's what they said
and here's how much value they got from
it and this is how many followers they
gained on Instagram and this is what
they said it did for their business
would you like the same sort of thing
and now it's relatively straightforward
to find you just five clients paying
$2,000 or just find one client who's
willing to pay you $1,000 a month and as
a student imagine getting $1,000 a month
to manage a coffee shop or restaurant's
Instagram account that's life-changing
money that completely changes the game
if you have if you had an extra ,000 a
month kicking around but the point to
reiterate is that you really want to
find this vend diagram what am I good at
what do I enjoy and what is there a
market need if you feel like you're not
good at anything you're probably wrong
you probably are good at stuff but you
can just learn stuff if you suck at
literally everything you can just learn
so find something that you think you
might enjoy that you think there's a
market need for if you spend a lot of
time on social media which you probably
do if you're a student social media
management is a relatively
straightforward way of doing this but
then once you've made that money then
you might want to manage it with a
service like trading 212 who are very
kindly sponsoring this video trading 212
is a fantastic app that I personally use
that lets you invest in stocks and
shares without any Commission in
particular they have a new cash Isa
which is paperless it offers the highest
annual percentage yield on the market
it's also fscs protected up to 85,000 if
you're here in the UK and it's
completely free to use both the cash Isa
and the stocks and shares Isa are
flexible which means you can withdraw
from it and return money to it freely
within the tax year without impacting
your Isa allowance they also have a new
trading 212 Cod that gives you 1.5% cash
back which will be allocated to your
investment account for each deposit that
you make into your Isa so if any of that
signs up your street then do hit the
link in the video description and that
will take you to this page where you'll
be guided on how to sign up for an
account and if you use that link you'll
also get a free share worth up to the
value of £1 it is completely free money
you might as well so thank you so much
trading 212 for sponsoring this
video now at this point whenever I talk
about this advice in like talks and
stuff that I give to students people are
always like how could I possibly charge
a business $1,000 a month because you
are thinking like a consumer you're
thinking like a normal person normal
people don't pay ,000 a month for
anything but businesses really do it's
really useful to understand that
businesses value money in a ridiculously
different way compared to individuals
and it can be so hard to appreciate that
upfront you kind of have to see it
enough times to believe that that's a
thing so essentially this is what I
would do I would start off by doing it
for free for a single
client you have no business charging
anyone for anything if you can't give it
away for free and provide value I think
this is one of the issues with all this
sort of get-rich quick that you see
online it's often around trying to I
guess Swindle Swindle people out of
their money and sort of provide a bit of
a substandard service but really you
want to be able to do the thing for free
and add so much value so much value that
the business owner or the person that
you're speaking to feels so indebted to
you that oh my God you've done such a
good job that I almost feel bad that you
did this for free they will give you an
absolutely glowing testimonial so you
start off by doing it for free then you
think okay well I gave this much value
away for free and you asked that person
that you did it for free you know how
much would you have paid for this I mean
I did it for you for free but like how
much would you have paid or how much do
you think I could charge another coffee
shop or another restaurant and they
might say well you know maybe you could
charge I know 300 a month and now you're
like really 300 a month they pay 300 a
month for social media they're probably
like yeah they probably would so then
you go to a restaurant and you see if
you can charge 300 month and you say
that with confidence and you say that
with conviction and if you need help you
can read books like million dollar
weekend which I have a video about you
can watch videos on how to do sales but
really it's not that hard you just pitch
it and if you pitch it enough times and
if you aim to get rejected like 20 times
I can 100% guarantee you're going to
land at least one client the goal is to
aim for rejection and then you get one
client at $300 a month and again you
give them so much value where they're
like holy I have what a steal $300
a month and then they're like can you
keep working with me this is amazing I
want to keep going and then you're like
yeah of course you know I'll keep you at
300 a month but to be honest you know I
was thinking of increasing my prices to
$500 a month but you know I'll keep you
at $300 a month if you can give me a
referral so do you have any other
friends who run businesses who might
need my social media Management Services
now most entrepreneurs have a network of
friends who are also entrepreneurs so if
you get in with one of them and you
provide so much value by referral you're
you're then going to start Landing other
clients now that restaurant owner might
say oh yeah actually my brother runs the
local dental practice and and they
always complain about how they can't get
enough leads and blah blah blah blah
blah blah and they wish had someone
Young on their team who could manage
social media so then you go to that
person's brother and you pitch 500 a
month and you aim to get rejected 20
times and you guaranteed to land at
least one client and over time you just
sort of start laddering your way up also
by giving so much value your goal should
essentially be to give them so much
value to provide so much value that they
feel like they're getting a bargain for
$500 a month again like if I was a
student and someone have told me this
like $500 a month like how how can
anyone possibly pay it it must be a scam
you do this enough times and you realize
actually $500 a month is literally
nothing to a business that's making
decent amounts of money our business
does 5 million a year in Revenue $500 a
month doesn't even register in our
profit and loss there are lots of
businesses doing more than that lots of
businesses doing at least six or or
seven figures a year in Revenue those
are sorts of businesses who don't really
care about $500 a month especially if
they can land more customers as a result
of that spend if for example you're a
medical practice and you do private
surgeries private consultations you
probably make more than $500 for a
single consultation so in your 30day
days of Instagram or Tik Tok posting for
that Medical Practice if you can just
give them one more client they're
probably Roi positive any more clients
beyond that and they're laughing all the
way to the bank which is exactly what
you'd want you want to provide more
value than you charge for and over time
as you ladder up your prices you realize
oh actually I do have value you feel
very empowered as an individual and as
an entrepreneur because that's what you
are at this point and you can just keep
on increasing the prices until you make
so much money that it it makes you
question what the meaning of money
actually is to quote Alex hosi oh by the
way if you're enjoying this video so far
then you will absolutely love my book
feel-good productivity it's about how to
be more productive in a way that
actually feels good you can apply it to
your studies if you're a student or if
you're not a student you can apply it to
your business and it'll basically teach
you how to be more productive in a way
that's actually enjoyable meaningful and
sustainable so you can check that out it
is available everywhere books are
sold final thing to reinforce is that
this is accessible to literally anyone
maybe if you're in a country where
$10,000 is a lot of money and business
account of for $1,000 then like okay
maybe you might have to adjust the
numbers based on your own country's um
purchasing price parity and stuff but if
for example you're in the UK US Canada
Germany any almost any European country
$10,000 is very very very achievable as
a student and you realize once you get
there that oh this wasn't that hard and
you start thinking about 100,000 and you
start thinking about a million I've been
in this game now for like 10 plus years
I've been making money on the internet
since the age of 18 I've just turned 30
and I've made over like I don't know 15
million online in that time and so now
looking back at my student years and how
I kind of thought oh my God like I feel
so bad charging £59 for this course that
I'm doing and how I just didn't realize
that you could charge money to
businesses I'm just like oh I missed I
missed such a trick there I was so
focused on thinking like a consumer I
had so much imposter syndrome around
charging money it was all kind of
completely unnecessary and now like 12
years since I started University there
is so much information online there are
so many books out there about how to
make money there are so many books about
how to build businesses how to learn
these high income skills there are so
many YouTube videos from people like me
and so many others about how to do this
stuff and it can be so easy to be like
oh it's just a scam but like there are
there are people who are teenagers who
are making $10,000 a month doing social
media management as as a service or
doing web design or web development like
this is a thing people are doing it real
people just like you are doing this sort
of stuff it's not that hard but it does
feel like a genuine black box when you
don't know how the game looks and and
how things work so if you're interested
in learning more about this stuff you
should check out this video over here
which is about the high income skills
that students should learn and you can
just pick one of those and I guarantee
if you just pick that skill learn it and
try and sell it to businesses you'll be
making at least $10,000 as student so
thank you so much for watching hope you
got some value out of this video and
I'll see you in the next one bye-bye
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