045: How to Create a $10,000+ Per Month Income Stream In Just Five Hours Per Week

The steps to get you to that magical $10K level...

Podcast: Play in new window | Download (Duration: 34:15 — 31.4MB) | Embed

Subscribe: Google Podcasts | RSS

There's a problem with people wanting to take shortcuts to get to that $10K per month level.

We want to get you out of that way of thinking. You have to do 3rd grade before you go to college. If you jump right in without the warm-up, you stand the chance of the whole venture falling in on itself.

You want to do this the RIGHT way.

A lot of people in internet marketing get to that number but without sufficient preparation, they fall into the trap of having to put a lot of money back into the business or maybe have to hire a lot of employees, so when it comes down to it, they're actually "netting" quite a bit less than the $10K per month.

Four Daily Tasks

We've covered the Four Daily Tasks principle before. To recap, it means to take 4 tasks EVERY DAY that you can complete. 3 of them are your longer tasks, your half hour to 40 minute tasks. Then, you complete a "gimme" task that take just a few minutes.

Being able to finish FOUR THINGS EVERY DAY is very purposeful and motivating.

Why "tasks" and NOT "time"? It's not a matter of how many hours you put in per week. That's an employee way of thinking, i.e. "If I make $10 an hour and I put in 40 hrs. this week, I've made $400."

You're not an employee. You're a one man show, a business owner. For you to be successful, it's about hitting milestones.

Your four tasks need to be things that are actually able to be completed that will put you in the position of making money.

Changing your Twitter background doesn't do that. If you're making a membership site, and you've only made 10% of it, that's not complete. If you register a domain name for your site that is a complete task and puts you on the path. If you have set up your membership site that someone can see is complete with a PayPal button, THAT is a complete step.

Attitude Adjustments

When it comes to mindset, one of the most powerful things Robert ever learned was it's either inside of you or outside of you.

If something is not working for you, only one of two things needs to happen: you either change the way you think about it or you change what you're doing.

80% of your problems are in the way you think about them. If your business is not succeeding and you're walking around complaining that "life isn't fair", it's time to stop feeling sorry for yourself and do something different. If you're buying thousands of dollars of products but you're business still isn't up and running or successful, these 2 things need to happen:

Finish one of the courses that you keep buying. Stop feeling sorry for yourself and start implementing something.

The problem with your beliefs is that your beliefs are set in stone first. Then, you filter the information and facts that you find through that belief system in a way that lets you reinforce those beliefs. A lot of this is subconscious.

If your personal belief is that making money online doesn't work then everything you read or take in that says the opposite, you will ignore it or think it's fake.

What's really scary about this is it turns into an echo chamber. You're going to believe that people who think and talk like you are smarter than everyone else, because you can relate to them better. The problem is that if you're grumpy and you make friends with 5 other grumpies, you reinforce each other's beliefs and drag each other down.

"Whether you think you can or you think you can't, you're right." -- Henry Ford

We need to model. We need to look at what it is that we want. We need to find who has it. Then, we need to emulate what they are doing to get there.

Steps On The Path To $10K Per Month

Phase 1: Freelancing. This is your quick way to get from $1k to $2k per month.

• Fiverr (Fiverr.com)- a website where you can sell any service that you are skilled at. It doesn't have to be an advanced skill. It can be anything from transcription to voiceovers to converting documents to testing iOS apps.
  It sounds like you'd have to make a crazy amount of sales at $5 each to get anywhere, but the secret is in the up-sells. Additionally, although it doesn't sound like much, it may work out to be $7 or $8 per hour of work in income, you've now saved the time from having to spend countless hours looking for a job, you can work from home avoiding gas and parking costs, etc.
• Uber (Uber.com) – this is like being a private taxi service. This works particularly well if you're in a larger-scale city and can work peak times, like weekends and nights. It is possible to make $1000 or more per week doing this if you can meet those 2 aspects.
• Airbnb (AirBNB.com) – a property rental service. You can rent out a shared room, a private room or an entire home. Like Fiverr, there is a public profile rating system so you can see other reviews and know who is trustworthy and who is not.
• Ebay and Craigslist (Ebay.com and Craigslist.net) If you're using it and have no plans of using it in the future, sell it!
• FBA-Fulfillment by Amazon. This is where you find items that are low-priced and ship them into Amazon and make a profit on the difference between what it's sold for and what you purchased it for.

There's a little more advanced information to this and you can find out all the different ways to use and profit from FBA at Robert's program, www.dropshipceo.com.

Phase 2: Information Products. This is where you can make about $2K to $5K per month.

At some point, you're going to cap out on freelancing opportunities and just not be able to get over that $1K-$2K mark due to time constraints, etc. This is your next step.

First, you want to find a niche. Go to Clickbank.com and check out their "Marketplace." These are all the subjects and topics that people are looking for answers to. These are their "pain points"-the issues that they have where they are willing to pay for products that can help solve them.

Then, you can go to Robert's site, IncomeMachine.com, where you can find out how to take advantage of that niche, how to build a product with video and/or e-books, how to optimize putting together a program for people to purchase.

Once you get on the way with selling your product, you are building a "list", i.e. people who are purchasing your product that you can market to in the future.

As you build up that list, you can then joint venture with other peers in your niche (or a very similar niche) to piggyback on each other in an affiliate-type structure, where each of you benefits from the sale of either one of your products and you're both building lists.

You can also set up podcasts or webinars at this point, where you interview each other, guest blog, etc. This grows and grows.

When you're putting together information products for sale, it's best to go from "idea to implementation" within 3 to 7 days.

Some of what you turn out will be great and some of it may turn out to be duds.

It makes no sense to spend a year or two trying to get it perfect. Just get it out there and your customers' responses will tell you what you're doing right and wrong.

The ones that turn out successful, you can then spend more time revising and improving those or capitalizing on them. Let the duds go. They were just experiments.

As your information product business grows, you can let go of the more time-consuming and less-paying things you were doing to get by, you can step renting your room, etc.

Phase 3: Passive Income. This is where you're getting to that magical $10K per month.

This is the dream that you want to achieve. You need to build a membership site where people are paying to keep engaged with your program in one fashion or another.

Robert's MembershipCube.com will walk you through all the steps to set up a successful membership site.

For example, one of Robert's clients/students, Dr. Charles runs a directory. There's a certain procedure he teaches other doctors. When the doctors buy and complete his training, they get added to the nationwide directory so local people interested in that service can find them. These doctors are paying Dr. Charles monthly to stay in that directory. If they stop paying, they are deleted.

Ask yourself, what sort of service related to your niche would people be willing to pay for month after month? Do you have something where you could also provide a directory that people can pay to join?

Robert also has membership sites that people pay to have access to, such as www.podcastcrusher.com and www.makeaproduct.com. People want to learn how to do podcasting and create e-books because these are items that you can sell that will generate leads. What skill do you have that you can teach people that will provide them with real value?

Coaching

Once you've developed your information product in Phase 2 and a membership site in Phase 3, your next step to that $10K per month passive income can be coaching.

You've developed your DVD on guitar playing in easy steps in Phase 2, then you created a membership site in Phase 3, where you show monthly how to learn in just 1 day all the popular radio hits and started a directory for local guitar teachers.

The next step would be coaching. For a certain $ amount per hour (say $200 per hour), you will get on Skype with your client and walk them through any difficulties they are having or help them with starting their own local guitar teaching business.

Now, you've gotten to a level where you wake up in the morning and have an entire leads list that you can email with future products and services. You're pretty advanced at this point and getting ABOVE that $10K is going to seem a lot easier than it was GETTING to it.

Join Income Machine 2.0 to Claim Your
All-in-One Money Making System Now

P.S. 5 hours per week to $10K....where'd that come from? Your 5 hours per week is your 4 daily tasks. Spend an hour or less every day on the path to making money. It's fun, things move a lot of faster, and it keeps you motivated!

Like the Robert Plank Show on Facebook

Podcast: Play in new window | Download (Duration: 34:15 — 31.4MB) | Embed

Subscribe: Google Podcasts | RSS

Filed in: Archive 1: 2012-2016 • Mindset • Podcast