Ready To Earn Less Then Minimum Wage? (For WSO Money Making Seekers)

7 replies
Hey Warriors,

I got a friend who is doing his first WSO today.

What I told him is that he will earn less the minimum wage..

"What do you mean Mukul, WSO suppose to be my rag to riches and retirement plan?

"I put in $40 and I get $2000, you are wrong Mukul"

OK OK, thanks doubter, maybe I am wrong, but this is my experience, here me out.

When you work on your first product, you will spend a lot of time on it. I spent 3 weeks full time on my Video Marketing Intensive, had lots and lots of
hiccups, ups and downs....and I worked lets say 120 hours (most likely more) and made back like $1000 in the first week.

That works out to $8.33 an hour.

Next example, I did a training in Toronto (with a weeks notice) and spent 60 hours on it and made $400

That works out to $6.66 an hour

I am never doing a training again, what a waste of time, no money it, it sucked, blah blah blah blah (you would hear me say)

However (and thanks to this same warrior), on a goal I had to reach, I took the recording, sat on my desktop for months and turned it into a profitable product 'traffic marketing intensive;

Another example. Spent 3 months on a site last year that made not much money, however we are taking that business model and using everything we learned which we hope will not be a lot more profitable.

Now what I also got was real income producing asset that may take 6 months to be worth any time spent on it.

The next product (and from learning), now even a week....now depending on what I am doing less then a day for more returns.

So what I told my fellow warrior friend, who is a GREAT guy, expect to make less then minimum wage.

The loss on the first one will be well worth the learning

Cheers,
Mukul
#earn #making #minimum #money #ready #seekers #wage #wso
  • Profile picture of the author Jesus Perez
    Mukul, you're right. There's an opportunity cost for working on projects and marketers rarely mention this.

    But in the long haul...your hourly wage will go higher and higher.
    If you create enough evergreen products (products that aren't fads) then you can really build a long term, stable income.
    Signature

    {{ DiscussionBoard.errors[2919138].message }}
  • Profile picture of the author paulie888
    Mukul, this is the part of internet marketing that so many people can't accept. It isn't a "job", so if you think of it in terms of the "pay" you get for the number of hours worked, it won't look like anything that any sane person would want to do!

    However, with that said, the real rewards come after you've set things up and/or created a product - this is when your time and monetary investment will pay off, but only if you stick with it long enough to see it happen!

    Paul
    Signature
    >>> Features Jason Fladlien, John S. Rhodes, Justin Brooke, Sean I. Mitchell, Reed Floren and Brad Gosse! <<<
    {{ DiscussionBoard.errors[2919152].message }}
  • Profile picture of the author E. Brian Rose
    If a proper sales funnel is set in place, then a first WSO does not have to be a weak showing, like you described. My first WSO continues to make money and it is long been retired.
    Signature

    Founder of JVZoo. All around good guy :)

    {{ DiscussionBoard.errors[2919153].message }}
    • Profile picture of the author Mukul Verma
      Originally Posted by E. Brian Rose View Post

      If a proper sales funnel is set in place, then a first WSO does not have to be a weak showing, like you described. My first WSO continues to make money and it is long been retired.
      Thanks Jesus and Paulie,

      Agreed, we are both saying in time it will pay off.

      If you got it set up right from day one - you likely spent more time on it
      If you dont have it right - you likely spent less time on it which is better to learn.

      Both work to less the minimum wage

      Cheers,
      Mukul
      {{ DiscussionBoard.errors[2919175].message }}
  • Profile picture of the author Silas Hart
    I would say that you haven't really captured anything residual yet. Most don't, and think they do.

    You know the difference between someone who is self employed and an entrepreneur? Someone who is self employed is someone who needs to take action in order to receive an income. An entrepreneur is someone that can walk away for a little while and still maintain a business that earns that person an income.

    It's not wrong, most people we consider "guru's" operate this way, it's just their business model. It's all about releasing a product, making x amount of money, waiting a couple months and releasing another with a couple JV's in between.

    Wasn't your skills in video marketing earning you some type of income while you were working on the project of making something you could sell?

    I'm not saying you were giving out bad advice, I just think your concept of only making a minimum wage is a bit generalized.
    {{ DiscussionBoard.errors[2919194].message }}
    • Profile picture of the author Mukul Verma
      Originally Posted by FaJeeb View Post

      I would say that you haven't really captured anything residual yet. Most don't, and think they do.

      You know the difference between someone who is self employed and an entrepreneur? Someone who is self employed is someone who needs to take action in order to receive an income. An entrepreneur is someone that can walk away for a little while and still maintain a business that earns that person an income.

      It's not wrong, most people we consider "guru's" operate this way, it's just their business model. It's all about releasing a product, making x amount of money, waiting a couple months and releasing another with a couple JV's in between.

      Wasn't your skills in video marketing earning you some type of income while you were working on the project of making something you could sell?

      I'm not saying you were giving out bad advice, I just think your concept of only making a minimum wage is a bit generalized.
      Great point here.

      Yes Video Marketing about 15% of my traffic and makes me money. My time for money in the IM niche is not worth the time until this week to be honest. I may sell over a 100 product right away now at minimum, but I am thinking like you are, more passive, not being involved. I would make more elsewhere (since most does not involve time once set up). This business is more totally push button which should only come when you want it (and not your main source of income).

      Both ways will be min wage in the start. What you suggest and I agree with would be more minimum page to start , but more profitable long run.

      Cheers,
      Mukul
      {{ DiscussionBoard.errors[2919258].message }}
      • Profile picture of the author paulie888
        Originally Posted by Mukul Verma View Post

        Great point here.

        Yes Video Marketing about 15% of my traffic and makes me money. My time for money in the IM niche is not worth the time until this week to be honest. I may sell over a 100 product right away now at minimum, but I am thinking like you are, more passive, not being involved. I would make more elsewhere (since most does not involve time once set up). This business is more totally push button which should only come when you want it (and not your main source of income).

        Both ways will be min wage in the start. What you suggest and I agree with would be more minimum page to start , but more profitable long run.

        Cheers,
        Mukul
        Internet marketing may not be "pushbutton" like you say, but once you set things up and income is rolling in, it'd definitely be possible to make it near-pushbutton by having a system in place and outsourcing.

        Ideally, you want to remove yourself from the business as much as possible so that you can step away from it whenever you wish without catastrophic consequences and do other things, and this also sets you up in a position to sell the business later on down the road, if desired (since it'd be very appealing to prospects to be able to own a business that already had systems and outsourcing in place, meaning it'd be pretty much a turnkey operation).

        Paul
        Signature
        >>> Features Jason Fladlien, John S. Rhodes, Justin Brooke, Sean I. Mitchell, Reed Floren and Brad Gosse! <<<
        {{ DiscussionBoard.errors[2919317].message }}

Trending Topics