Smartest Path to Make $10,000 Per Month (For Beginners)

Summary

This 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.