How I Made $1.4M Starting From $0

Summary

At 22, I made $1.4 million, starting from zero at 19 with a full-time job and a laptop. In this video, I walk you through three steps to replicate my success. First, learn the skills by working in a related field. Second, sell those skills, either through one-on-one coaching or offering services. Finally, productize your skills to scale your business. By transitioning from offering services to creating scalable programs, I grew my income to $100,000 a month. Follow these steps and start building your online business today!

Takeaways

• 🚀 Start your journey by gaining hands-on experience in a relevant field.
• 💼 A full-time job can provide valuable skills that make starting a business easier.
• 📈 Learning by doing allows you to test strategies without risking your own money.
• 💡 Selling your skills is essential for making money online.
• 👥 You can sell your skills through one-on-one coaching or by offering services.
• 💰 Building an agency can quickly generate significant income by leveraging your skills.
• ⏳ Transitioning from one-on-one services to coaching can help scale your business.
• 📚 Productizing your skills means creating programs that can be sold at scale.
• 🔑 Effective teaching is crucial to ensuring your products or programs are valuable.
• 🌟 Focus on refining your skills to create high-quality offerings that attract clients.

Q & A

What was the speaker's initial source of income when starting their online business?

The speaker initially earned income by getting a full-time job as a marketing director at a real estate firm, where they learned essential skills.

How did the speaker suggest acquiring skills for starting an online business?

The speaker recommended learning skills by working for someone else, either in a full-time job or as a freelancer, allowing for practical experience without the risk of personal investment.

What are the two main ways to sell your skills online according to the speaker?

The two main ways to sell skills online are through one-on-one coaching/consulting and by offering services related to the acquired skills.

Why is it important to productize your skills?

Productizing your skills allows for scalability, enabling you to serve more clients simultaneously without increasing your workload significantly.

What transition did the speaker make from offering services to coaching?

The speaker transitioned from providing services that required extensive time per client to one-on-one coaching, which allowed them to work with more clients for the same income.

How did the speaker's income change as they transitioned from service to coaching?

The speaker was able to grow their coaching business to $100,000 per month by effectively managing their time and increasing client volume.

What was the significance of the speaker’s first four clients?

The speaker's first four clients, each paying $2,500 per month, marked the beginning of their online business success, leading to their first $10,000 month.

What does the speaker mean by 'programiz' their skills?

To 'programiz' skills means to create a structured program or product based on their expertise that can be sold to clients, separating time spent from income earned.

What is one of the key benefits of learning by doing, as highlighted by the speaker?

Learning by doing allows individuals to experiment and refine their skills in a real-world setting, gaining valuable experience without the risk of financial loss.

What should be the focus when creating a product or program based on learned skills?

The focus should be on delivering high-quality content and teaching efficiently to ensure that the program meets client needs and is worth purchasing.