Do THIS to Make $30,000/month as a Student

Summary

This video script outlines a lucrative business opportunity for students and non-students alike: test prep and tutoring services. The speaker emphasizes the importance of selling outcomes rather than one-on-one tutoring, suggesting a semi-private model for maximum profitability. By charging less per student in a group setting, the tutor can earn significantly more in a shorter time. The script details strategies for attracting students, prepayment incentives, and scaling the business to achieve high earnings with minimal investment. The 'Super Saiyan' approach involves hiring other tutors to expand the business further, potentially reaching a million-dollar annual income with a part-time team.

Takeaways

• 😀 Tutoring and test prep is a profitable business for students, offering $1,120 daily profit with only four hours of work per day.
• 📚 Instead of one-on-one sessions, use semi-private tutoring (small groups), which allows you to charge less per person but earn more overall due to multiple students.
• 💡 Focus on selling the outcome (higher test scores and college/job acceptance), not the service itself.
• 🏫 Standardized test prep is the most valuable because it has a significant impact on college acceptance, salary potential, and networking opportunities.
• 💸 Aim to get students to prepay for sessions to reduce the transactional nature of tutoring and focus on long-term goals.
• 🎯 Use a structured approach, where the number of problems completed directly correlates with test score improvement.
• 👥 Build your student base by leveraging your personal network, offering free sessions to get testimonials and referrals.
• 🏆 Once established, scale by hiring other tutors to handle groups, allowing you to focus on marketing and growing the business.
• 🧑‍🏫 Pay tutors well while keeping high margins, maintaining an 80% service-based margin to optimize profitability.
• 🚀 To hit a million-dollar yearly income, scale to multiple tutors and groups, ensuring a constant flow of students and referrals.

Q & A

What is the recommended business for students to start that can generate significant daily profits?

The recommended business for students to start is test prep and tutoring, specifically focusing on standardized tests that can help students get into better schools or jobs.

Why is selling the outcome of tutoring more effective than selling tutoring itself?

Selling the outcome of tutoring, such as improved test scores or admission into better schools, is more effective because it directly connects the service to tangible, desirable results for the students.

What is the suggested model for conducting tutoring sessions to maximize profitability?

The suggested model is to conduct semi-private tutoring sessions with a small group of students (around 8), charging two-thirds of the one-on-one rate, which allows for higher earnings with the same amount of work.

How much profit can one expect to make per day with the suggested tutoring model?

With the suggested model, one can expect to make $1,120 per day in profit by working four hours, assuming each student pays $35 for a session.

What are the advantages of conducting tutoring sessions at a library?

Conducting tutoring sessions at a library is advantageous because it is a free location, which reduces overhead costs, and it can be a convenient and quiet place for students to learn.

How does prepayment work in the context of this tutoring business model?

Prepayment involves getting students to pay for a set number of sessions in advance, which helps in managing cash flow and ensures a consistent income stream.

What is the significance of solving a large number of problems in improving test scores?

Research indicates that the number of problems solved before taking a standardized test is directly proportional to the test scores, making problem-solving a key factor in test prep.

How can one market their tutoring services effectively?

Effective marketing involves leveraging personal networks, reaching out to sports teams, offering free initial sessions to demonstrate value, and using testimonials and referrals to attract more students.

What is the 'Super Saiyan' version of this business model that can potentially make a million dollars a year?

The 'Super Saiyan' version involves scaling the business by hiring other teachers and creating a systematized process for student intake and test score improvement, allowing the business owner to earn a profit from the差价 without directly conducting the tutoring.

How can one ensure that students are motivated to do their homework and prepare for the tutoring sessions?

One can ensure student motivation by setting up a system where students are billed if they do not complete their homework, creating a sense of accountability and investment in their own learning.