If I Wanted to Make $10,000 as a Student, I'd Do This

Summary

This 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.