Watch these 61mins if you want to start a business in 2024
Iman Gadzhi・66 minutes read
Beginners can achieve making $10,000 a month online in 2024 by finding opportunities that offer high transaction values, minimal upfront investment, low upfront work, high profit margins, easy fulfillment, and recurring sales, with drop servicing aligning best with these parameters. The drop servicing business model outlined in the Agency Navigator program provides a step-by-step system for beginners to earn substantial monthly income through online services, with success stories and a goal to sign 10 clients in January and reach $50,000 a month in February.
Insights
- Beginners aiming to earn $10,000 a month online in 2024 should focus on opportunities that require minimal upfront investment, low upfront work, high profit margins, easy fulfillment, and offer recurring sales to avoid financial risks and debt.
- Drop servicing emerges as a beginner-friendly online opportunity due to its high commissions, minimal upfront work, and alignment with ideal parameters for profitability, allowing individuals like Nicholas to surpass their day job income in just 48 hours, emphasizing the potential for substantial monthly earnings through niche selection and effective outreach strategies.
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Summary
00:00
Achieving $10,000 Monthly Online in 2024
- Making $10,000 a month online as a beginner in 2024 is achievable by avoiding common mistakes.
- Beginners fail due to investing in businesses requiring financial commitments, like marketing or stock.
- Starting a business that demands money can lead to financial loss and debt for beginners.
- Trying to master skills like coding or content creation for income is time-consuming and not beginner-friendly.
- Finding opportunities that allow learning while earning without financial risks is crucial for beginners.
- The digital Renaissance offers opportunities for beginners to earn substantial income without prior experience.
- Evaluating online opportunities based on beginner-friendliness and risk levels is essential.
- Six parameters - transaction value, upfront investment, upfront work, profit margins, fulfillment, and recurrence - help evaluate opportunities.
- Drop Shipping, while popular, requires significant marketing investment and upfront costs, making it challenging for beginners.
- Affiliate marketing, though popular, can also require substantial marketing investment and lacks recurring income, making it less beginner-friendly.
12:57
"Lucrative Online Opportunities for Beginners"
- Affiliate marketing involves selling products for a commission, typically ranging from $20 to $50 per unit, requiring sales of 200 to 500 units to earn $10,000 monthly.
- Fulfillment in affiliate marketing is handled by the product owner post-sale, eliminating further responsibilities for the seller.
- Upfront investment is minimal in affiliate marketing, but substantial upfront work is necessary for content creation and promotion to achieve sales targets.
- Affiliate marketing sales are one-off, necessitating continuous content creation for consistent income.
- Airbnb Arbitrage involves renting properties to list on Airbnb, with transactional values ranging from $100 to $2,000, requiring upfront investment for rent and licenses.
- Profit margins in Airbnb Arbitrage are moderate, with one-off sales and potential risks of property vacancies.
- Info products, like ebooks and online courses, offer control over pricing but demand significant upfront work for product creation and delivery.
- Info products may require investment in ads and software, with sales as one-off or subscription-based.
- The ideal online opportunity should have high transaction values, minimal upfront investment, low upfront work, high profit margins, easy fulfillment, and recurring sales.
- Drop servicing connects businesses needing online services with providers, offering high commissions without directly fulfilling the services, aligning with the ideal parameters for a beginner-friendly opportunity.
26:18
"Drop Servicing: $10k/month System Revealed"
- Nicholas made more money in 48 hours with this business than in two months at his day job.
- This business is beginner-friendly, requiring no prior experience or skills.
- A three-step system to make $10,000 a month with drop servicing in 90 days is outlined.
- The system has generated significant success stories in the industry.
- By executing the process correctly, one can acquire 3-4 new clients per month at $2,000 each.
- Niche selection is crucial, focusing on niches where businesses make at least $10,000 a month.
- It is recommended to avoid niches with low ticket prices and opt for those with products or services selling for at least $1,000.
- Success lies in targeting unconventional niches rather than common ones like e-commerce or real estate.
- Offering online marketing services is advised due to high demand and businesses' readiness to invest in them.
- Outreach methods include cold calling, cold emailing, video audits, LinkedIn, and Instagram outreach.
39:07
"Drop servicing model for profitable global business"
- Clients pay at the beginning of the month, contractors are paid at the end after service delivery to avoid cash flow issues.
- Hiring experienced English-speaking contractors from countries like South Africa, Peru, Colombia, Brazil, Pakistan, Indonesia, and the Philippines is cheaper than hiring inexperienced US graduates.
- Contractors are paid $250 to $1,000 per month per client, while clients are charged $1,500 to $10,000 per month.
- Maintaining at least 60% margins is recommended for profitability.
- Contractors benefit from higher pay compared to their local rates, making it a mutually beneficial arrangement.
- Clients are unaware of contractors' existence, focusing on the service quality provided by the agency.
- The agency acts as an intermediary, similar to a store fixing a phone, providing a valuable service to clients.
- The drop servicing model allows anyone, including individuals from small countries like Nepal, to earn substantial monthly income.
- Agency Navigator program offers a comprehensive guide to building a drop servicing agency, covering setup, outreach, and service delivery.
- The program includes over 40 hours of training, templates for contracts, sales scripts, and a private mastermind community for support and networking.
51:47
"Agency Success: Client Growth and Expert Advice"
- Signed a client for $5,000 a month, potentially increasing to $99,000 a month based on performance.
- Secured another client at $11,400 a month just 6 days after starting the agency.
- Goal to sign 10 clients in January and reach $50,000 a month in February.
- Client tier system: Fish pays $1,000 to $3,000, Shark pays $3,000 to $8,000, Whale pays $88,000 per month.
- Importance of expert advice in online education programs to avoid failure cycle.
- Weekly live coaching calls with industry experts for guidance and support.
- Success linked to implementing actions quickly, especially in the first 6 weeks.
- Agency Navigator FastTrack program for 6 weeks of workshops and coaching to set up agency successfully.
- Offer includes access to Agency Navigator program, website templates, community, coaching calls, and additional programs for sales and copywriting at $1,499.
