Smartest Path to Make $10,000 Per Month (For Beginners)
Summary
TLDRThis video emphasizes the importance of setting a $10,000 monthly income goal for online beginners, as it lays a foundation for higher earnings. The speaker shares personal experiences and strategies, including choosing a single business model that aligns with one's passion and skills, maintaining an optimistic mindset, taking consistent action, applying the 80/20 rule to focus on high-impact activities, and the necessity of continuous learning. Persistence is highlighted as key, with the adage 'winners never quit' underlining the importance of not giving up on one's financial aspirations.
Takeaways
- 💰 **Set a $10,000/month Milestone**: Aiming for this initial goal is a foundational step, as it sets a clear target and makes higher earnings seem more achievable.
- 🚀 **Choose One Business Model**: Focusing on a single business model is crucial for beginners to avoid spreading efforts too thin and to streamline progress.
- 🔍 **Align with Personal Interests**: It's important to select a business model that matches your personality and skills, rather than just copying others' success.
- 🚫 **Avoid Imitating Others' Lifestyles**: Don't choose a business model based solely on someone else's luxurious lifestyle; focus on what you're passionate about.
- 🤓 **Optimistic Mindset**: Maintaining a positive outlook is essential for making better decisions and seeing opportunities that can lead to success.
- 🌧 **Learn from Setbacks**: Viewing negative experiences as lessons helps in understanding potential obstacles and navigating the path to financial freedom.
- 🏃 **Take Massive Action**: Consistent and focused action is necessary to achieve goals; success in online business requires daily effort and commitment.
- 🔑 **Apply the 80/20 Rule**: Identify and concentrate on the 20% of actions that generate 80% of the results to optimize your efforts and outcomes.
- 📚 **Continuous Education**: Staying informed and learning from others' experiences is vital to avoid common mistakes and to grow your business knowledge.
- 🛑 **Never Give Up**: Persistence is key; many successful entrepreneurs have faced moments of wanting to quit but have pushed through to achieve their goals.
- 📈 **Consistency and Persistence**: Being consistent in your actions and persistent in your efforts are what will ultimately lead to financial success and freedom.
Q & A
What is the first milestone mentioned for beginners looking to make money online?
-The first milestone mentioned is to earn $10,000 per month, as it sets a foundation that makes reaching higher income levels easier.
Why does the speaker believe earning $10,000 per month is a significant milestone for online entrepreneurs?
-The speaker believes this is significant because once a person understands the steps to reach this income level, it becomes easier to scale up to $20,000, $30,000, $40,000, or $50,000 per month.
What is the importance of picking one business model when starting an online business?
-Picking one business model is important because it allows the entrepreneur to focus their energy and resources on one strategy, increasing the chances of success rather than spreading efforts too thin.
Why should beginners avoid choosing a business model based solely on someone else's lifestyle?
-Beginners should avoid this because the chosen model should match their personality and skill set, not just someone else's lifestyle. This ensures they are passionate and capable of sticking with the business in the long term.
Can you explain the mistake the speaker made when they first started making money online?
-The speaker made the mistake of choosing to day trade Forex because they saw someone living a luxurious lifestyle, despite not being passionate about trading and wanting to build a product-based business.
What is the significance of having an optimistic mindset when building an online business?
-An optimistic mindset is significant because it helps the entrepreneur make better decisions and see opportunities for growth, rather than being limited by a pessimistic view that focuses only on negative outcomes.
What does the speaker mean by 'taking massive action' in the context of building an online business?
-Taking massive action means working diligently every day on the business, including early mornings, evenings, and weekends, to ensure consistent progress and results.
What is the 80/20 rule, and how does it apply to online businesses?
-The 80/20 rule, or the Pareto Principle, means that typically 80% of the results come from 20% of the actions taken. In the context of online businesses, it suggests focusing on the most impactful actions or products to maximize revenue.
Why is continuous education important for someone trying to achieve financial freedom through an online business?
-Continuous education is important because it provides new insights, helps avoid common mistakes, and keeps the entrepreneur updated on best practices, which is crucial for scaling their business and achieving higher income levels.
What principle does the speaker emphasize as crucial for long-term success in building an online business?
-The speaker emphasizes the principle of persistence, stating that winners never quit and quitters never win, highlighting the importance of not giving up even when facing challenges.
What free resource does the speaker offer to help beginners start an e-commerce business from home?
-The speaker offers a completely free online course that provides step-by-step guidance on starting an e-commerce business, which is linked in the video description.
Outlines
🚀 Achieving Financial Milestone: $10,000 Monthly Income
The speaker emphasizes the importance of setting a financial milestone of earning $10,000 per month for beginners in online businesses. They argue that reaching this benchmark makes achieving higher income levels more manageable. The speaker shares their personal experience of transitioning from a 9-to-5 job to earning a passive income through various online ventures, which allowed them the freedom to travel. They advise viewers to watch the entire video for insights that could transform their financial situation. The speaker also stresses the importance of selecting one business model and aligning it with personal interests and skills, rather than merely copying someone else's success based on their lifestyle.
🌟 The Power of Optimism and Action in Online Business Growth
The speaker discusses the significance of maintaining an optimistic mindset for success in online business ventures. They explain that a positive outlook helps in making better decisions and recognizing opportunities. The speaker recounts their own journey, where a shift from a pessimistic to an optimistic mindset led to identifying profitable products and business growth. They also highlight the necessity of taking action and working diligently every day towards business goals. The speaker shares their routine of waking up early to work on their business, emphasizing the importance of consistency and massive action to achieve results. They introduce the 80/20 rule, suggesting that focusing on the most impactful 20% of actions can lead to 80% of the business results, and advise viewers to identify and concentrate on these key activities.
📚 Continuous Education and Persistence in Business Success
The speaker underscores the value of continuous self-education in the journey of building an online business. They express regret for not prioritizing learning early in their career, which led to avoidable mistakes. The speaker encourages finding reliable sources of information and adapting the learned knowledge to one's unique situation. They mention various forms of education, including books, podcasts, and online courses, and promote a free online course they offer for starting an e-commerce business. The speaker concludes by stressing the importance of persistence, stating that winners never quit and quitters never win, sharing personal instances where not giving up led to success. They encourage viewers to stay consistent and persistent in their efforts.
Mindmap
Keywords
💡Milestone
💡Online Business Model
💡Personality and Skill Set
💡Optimistic Mindset
💡Massive Action
💡8020 Rule
💡Education
💡Consistency
💡Winners and Quitters
💡Financial Freedom
Highlights
The initial milestone for online income should be $10,000 per month as it sets a foundation for higher earnings.
Achieving $10,000 per month enables the freedom to travel and work from anywhere.
Selecting one business model is crucial for beginners to focus their efforts effectively.
Avoid choosing a business model based solely on someone else's lifestyle.
Align the chosen business model with your personality and skills for long-term commitment.
The importance of an optimistic mindset in overcoming obstacles and making sound decisions.
A pessimistic mindset can hinder progress by focusing on negative outcomes.
The necessity of taking massive action every day to achieve significant results.
Consistency and calculated moves are key to achieving financial goals.
The 80/20 rule emphasizes focusing on the 20% of actions that yield 80% of results.
Identifying and concentrating on the most profitable products or actions in a business.
The value of continuous self-education to avoid common mistakes and overcome obstacles.
Free educational resources can be just as valuable as paid ones for learning business strategies.
The significance of persistence and not giving up when facing challenges in business.
Pushing through the desire to quit often leads to breakthroughs and success.
The importance of engaging with the community and seeking feedback for continuous improvement.
Transcripts
so one of the first Milestones that
every single beginner that's watching
this video needs to accomplish when it
comes to making money online is $10,000
per month and the reason why I believe
this is because if you're able to figure
out the steps to get to around $10,000
per month then being able to make 20,000
$3,000 $40,000 $50,000 per month is
going to come a lot easier and I know
that this is definitely true because
this is exactly what happened to me once
I understood the steps to go from 0 to
$10,000 per month that's when I was able
to quit my full-time job travel around
the world to various different amazing
locations while still earning a source
of income from all of my different
online businesses even when I was on
holiday so just make sure that you stick
around for this entire video from start
to finish because you're definitely
going to learn something that's going to
change your financial situation all
right so jumping straight into one of
the first things that I wish someone
told me on day one when I first made the
decision to start making money online
because it would have definitely sped up
the progress and the process when it
came to me making 10K per month which is
that I needed to pick one business model
and that's exactly what you should do as
well now we live in a time right now
where there's so many different options
out there when it comes to making money
we've got things like Drop Shipping
e-commerce print on demand selling on
Amazon eBay affiliate marketing YouTube
you know there's so many different
options out there but it's going to be
your job as a beginner from day one to
make sure that you just pick one option
now there's certain things that you need
to think about when it comes to this
part of the process because the mistake
that so many people make is that the
option that they pick is based on
someone else's lifestyle what most of
you are probably doing is looking at
people on social media looking at people
on the internet studying what car
they're driving what house they're
living in and because they might be
driving a really really nice car or they
might be living an amazing lifestyle you
want to do exactly what they're doing to
make money and of course I'm not saying
that this is a completely bad idea but
you don't want to just copy what
someone's doing just because of the life
they're living you want to know whether
or not what they're doing matches your
personality and matches your skill set
when it comes to picking one business
model that you're going to focus on you
want to make sure that you're going to
be able to stick with it over the long
term and that you're not just going to
give up because it's not something that
you really want to do and just to use
myself as a quick example this is
exactly what happened to me when I first
decided to start making money online
back when I was working a 9 to-5 job one
of the business models or one of the
methods that I decided to choose was day
trading specifically Forex and I'm not
saying that Forex is a bad idea and it
doesn't work but what I'm saying is that
I decided to do it because I saw someone
buy a Lamborghini and then they wrapped
it gold and they seem to have been
living an amazing lifestyle so I wanted
to copy what they were doing even though
I didn't really want to put my energy
into trading Forex because I wanted to
go down the path of building a real
business that sold products to customers
but simply because of the car that
someone was driving and the life that
they were living I just outright copied
them and ignored the passion that I had
when it came to building the business
that I wanted to build and the point
that I'm trying to make right now is
that I just ended up wasting a year of
my life trying trying to do something
that I really wasn't passionate about so
when it comes to the point where you
need to decide on what business you're
going to build just make sure that you
sit down you grab a piece of paper you
grab a pen and you write down what
you're interested in what you're
passionate about what you have skills in
and by making sure that you focus on
just one business model and put all your
energy into that that's going to be one
of the first steps when it comes to you
achieving Financial Freedom but moving
on to one of the second things that I
want to talk about that's super
important when it comes to going from
zero to over $10,000 per month as a
beginner which is the importance of
having an optimistic mindset now of
course having a solid plan and a solid
strategy for whatever online business
you're trying to build is really
important but at the same time
whatever's going on up here is going to
determine the type of success that
you're going to have one of the earliest
things that I learned when it came to
building up all of my online businesses
is that when I had a pessimistic mindset
which is basically a negative mindset I
wasn't really making the right decisions
and the reason for this is that if
you're telling yourself in your head
that things are not going to work out
you're going to fail and you're
basically not the person that's going to
be able to accomplish the goals that you
have then that's the only thing you're
going to see you're not going to see any
opportunity that's going to get you to
the next level so every day that I woke
up I had to always tell myself that I
was the person that was going to
accomplish $10,000 and even if something
negative was happening at the time I
just used it as a lesson when it came to
me understanding the potential obstacles
for the businesses that I was trying to
build and for those of you that are
currently thinking Sam I'm not really
show of exactly what an optimistic
mindset means and what a pessimistic
mindset means I'm just going to give you
a quick explanation so of course an
optimistic mindset is where you think in
a positive way and you kind of think
about the positive outcomes on the other
hand a pessimistic mindset is where you
kind of only focus on the negative
outcomes and whichever way of thinking
that you put your focus onto those are
the type of outcomes that you're going
to see and to use myself at my early
Journey as an example once again when I
was building up my first ever online
business which was an e-commerce
business while I was selling products
initially on eBay in the early days I
had a negative mindset I had a
pessimistic mindset and I wasn't really
able to clearly see the path in terms of
the steps that I needed to take the only
thing that was attracting to me was
negative outcomes but one day I read a
book and it spoke about the importance
of an optimistic mindset and as soon as
I shifted towards that way of thinking
that's when I started finding winning
products that started generating me
thousands of dollars every single day
and I was able to just see these big
opportunities that I never used to see
back when I was thinking in a negative
way so I'm a big believer that the
perspective that you have is ultimately
going to determine the level of success
that you're going to see so if you're
currently a beginner that's trying to go
from0 to $10,000 per month this is
definitely something that you need to
remember but this now brings me on to
the next principle that you need to make
sure that you're aware of when it comes
to making $10,000 per month as a
beginner which is the fact that
nothing's ever going to happen if you're
not taking action so one thing that I've
noticed with so many beginners that that
I come into contact with on a day-to-day
basis is that they want to live this
life they want to live that life they
want to travel there they want to buy
this but they're not really willing to
put the action that's necessary to make
it happen and if there's one thing that
I've learned when it comes to building
online businesses especially in the
early days you're going to have to work
every single day and take Massive Action
when it comes to receiving massive
results the one thing that you want to
avoid doing is waking up first thing
watching TV and watching other people
live out their lives instead of you
taking action when it comes to building
your dream life and as soon as I learned
this concept that's exactly what I
started doing as soon as I would wake up
even when I was working my 9 to- 5 job I
would wake up 4:00 a.m. in the morning
5:00 a.m. and I would do something to
work on my business so as I said at the
time I was focused on growing my
e-commerce business so what I'll do
before work is wake up and list products
maybe reply to customers emails I would
also try and find winning products reach
out to suppliers I was always doing the
things that were necessary for me to
move the needle forward in my business
and that's the exact same thing that
I'll do when I get back from work and I
would also do it on the weekend as well
and by me making sure that I was putting
in Massive Action when it came to my
goals and my objectives that's when I
started to see results coming in and it
was somewhat of a snowball effect the
more action that I put in the more
results that I will seeing so my advice
to any beginner out there is that you
want to try and remove any pointless
distractions you know if your friends
are inviting you to parties or maybe
there's this useless event that's not
going to have any sort of impact on your
life I would say try and ignore all of
that and put all your all your energy
and all your action and all your focus
into trying to get to around $10,000 per
month it's not necessarily going to be
easy because of course things are not
just going to happen overnight you're
going to have to be consistent when it
comes to the action that you're putting
in but the more you're able to be
consistent and the more you're able to
take calculated moves to accomplish
$10,000 per month that's when you're
going to start to see your life slowly
change and this actually now brings me
on to one of the next principles that's
really important when it comes to going
from $0 to $10,000 per month in profit
which is the at20 rule so this rule was
and still is one of the most pivotal
things that I've learned when it comes
to online business and for those of you
right now that are scratching your head
thinking Sam what exactly is the 8020
Rule and how does it work and how is it
going to make me money now it's actually
quite simple the 8020 rule simply means
that 80% of the results that you're
having in your business normally comes
from around 20% of the actions that
you're taking and this might still sound
a little bit confusing so let me just
simplify it a little bit more so
basically 80% of the money that your
business is going to make is only going
to come from 20% of the actions and the
reason why this is important to know is
because you just want to focus on those
20% of actions that's moving the needle
forward in your business it's normally
just going to be a few things that
you're doing or maybe just a few
products that you're selling that's
going to have the biggest results but
the mistake that most people make when
it comes to the action that they're
taken is that they don't focus on that
20% and they end up doing useless things
that's not driving any sales it's not
bringing any revenue and it's not
bringing any profit and when it comes to
the 20% of actions that you should focus
on of course this is going to be
dependent on the business that you're
building so if I just use an e-commerce
business as an example when it comes to
the 8020 Rule now 80% of the revenue in
my e-commerce business comes from let's
say 20% of the products that I'm selling
if I'm selling a 100 different products
normally it's going to be just 20
products that's having the biggest
result so I want to focus my energy and
my marketing efforts on just those 20
products the at20 rule also of course
applies to the actions that you're
taking so let me use a YouTube channel
just to kind of make you guys understand
what I'm talking about so when it comes
to running a YouTube channel just like
this there's so many different actions
that I could be taking for example I
could be coming up with video ideas I
could be filming videos I could be
editing videos I could be replying to
comments I could be doing so many
different things but I would say that
the 20% of actions that's having the
biggest result is maybe filming videos
right so I would rather put my energy in
to this and maybe Outsource the rest of
the work there's so many different ways
that the at20 rule can apply to whatever
business that you're running and it's
going to be your job to figure out the
most important things for you to put
your energy your action and your focus
into for you to go from0 to $10,000 per
month really really quick but on to the
next principle that I want to share with
you guys which is to make sure that
you're always educating yourself along
your journey now this is something that
I wish I knew from the very beginning
because I didn't really put a lot of
priority when it came to you you know
learning from people that was doing what
I wanted to do and because of that I
ended up making so many different
mistakes that I didn't really need to
make now when I say education I'm not
saying that you always need to pay for
it paying for it is not a bad idea but
there's a lot of free education out
there even things like this video that
you're watching right now is really
really useful because it's going to help
you think in a certain way my advice to
any beginner out there when it comes to
trying to learn something is just make
sure that you found someone that you
know is giving you accurate information
you also make sure that you listen to
what they're saying but you also try and
put your own spin on it because you may
have a certain way of doing it that's
going to bring you better results and at
the end of the day we're all individuals
but the main reason why education is
important is because it's going to
Enlighten you on any obstacles that
you're going to face when it comes to
going from 0 to $10,000 so that you can
easily avoid it or even if you face that
obstacle you're going to know exactly
what you need to do and when it comes to
different ways that you can educate
yourself you can do it through books
audio books podcasts YouTube videos and
there's also online courses for example
I recently released a completely free
online course that anyone can sign up to
in this course I just break down all of
the steps that you need to know when it
comes to starting a e-commerce business
from your house and I show you step by
step Click by click everything that you
need to do so if you wanted to sign up
to that free course it's going to be the
first link in the description but the
main point is that you want to
continuously keep educating yourself
even if you get to $10,000 per month you
want to make sure that you're still
educating yourself because that's what's
going to get you to 20,000 30,000 so on
and so forth which now brings me on to
the final principle that you guys need
to know which is that Winners never quit
and quitters never win one thing that
I've noticed with so many people that
contact me in this day and age is that
they give up too soon I've noticed that
when it comes to all of the different
online businesses that I've built
there's been so many different times
that I could have quit and if I did quit
I wouldn't have been able to accomplish
the success that I've been able to
accomplish with that particular business
because I've noticed that every single
time that I felt like quitting because
I've put extra effort and I've made sure
to push myself at that point that's when
all of the success has come to me so if
you want to be the type of person that's
able to accomplish a ridiculous level of
Financial Freedom and you want to make
$10,000 really quick it's all going to
come down to you being consistent
persistent and you don't give up too
soon now if you've enjoyed this video so
far don't forget to press the like
button I really appreciate that thank
you so much and don't forget to
subscribe as well hit the Bell
notification so that YouTube can let you
know when a new video has been released
don't forget to sign up to that
completely free course and master class
it's going to be linked down below it's
definitely going to help you out when it
comes to kind of pointing you in the
right direction to start an online
business from the comfort of your own
home and comment down below if you got
any questions whatsoever because I'm
trying my best to respond back to as
many comments as possible and if you
want to watch a recent video that I made
not too long ago where I go through the
top seven or 10 side hustles that's
going to get you to around $110,000 per
month as a beginner you're going to be
able to watch that video by clicking the
link right there check that out straight
after this because it's already helped
out so many people and I'm sure that
it's going to help you out too all right
guys I'll catch you on the next one make
sure you stay safe out there peace
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