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Easy way to $100,000 - Stop over complicating things

by laird
12 replies
I was having a chat with several friends last night and one of them has a retired friend living up in Reno, NV. He's not of retired age (over 65). In fact, the gentleman is only 46.

What was interesting is that the gentleman gambles for a living and does not shoot for the moon...He's doing it mathematically. Apparently his goal is $60k per year in income and shoots to make $250 a day to achieve it. He gambles 5 days a week, takes 4 weeks off a year and has been doing this for 3 years.

This made me think about a lot of people on the forums.

Everyone is looking to strike it rich, many hoping to be obscenely wealthy. Nothing wrong with that except warriors keep grasping at the next shiny object that comes along. Stop and just...

Break it down to the fundamentals:

Goal: $100,000/year
Vacation Time: 4 Weeks (Leaves you 48 weeks of selling)
Selling Days: 5 per week (5 days x 48 week = 240 Selling Days)
Daily Goal: $416.67

With that Daily Goal in mind, SELL.

Simply shoot for your Daily Goal.

John Durham will tell you to pick up the phone. Call enough people and you can sell a product, sell a service, get an appointment. How many clients will it take you to get to that Daily Goal?

$97 = 5 clients
$197 = 3 clients
$297 = 2 clients
$497+ = 1 client

Don't want to call? Follow Bob Ross and his postcard methodology and accomplish your target with 1 client a day (2 postcards per month).

Food for thought.
#$100 #easy
  • Profile picture of the author somacorellc
    It's also worth noting that the best way to accomplish any goal in your life is to think like the OP - working backwards from where you want to be will always be a better strategy than thinking forward.

    So, now I can say okay, how do I make $497+ per day? I have to make about 50 calls (assuming a 2% close rate) per day which takes about one hour of my time.

    From there I can plan my day - 8am to 9am weekdays I can easily call 50 people. Nothing to it!
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    • Profile picture of the author payoman
      Originally Posted by somacorellc View Post

      It's also worth noting that the best way to accomplish any goal in your life is to think like the OP - working backwards from where you want to be will always be a better strategy than thinking forward.

      So, now I can say okay, how do I make $497+ per day? I have to make about 50 calls (assuming a 2% close rate) per day which takes about one hour of my time.

      From there I can plan my day - 8am to 9am weekdays I can easily call 50 people. Nothing to it!
      If only it was that easy to make $500 haha, 50 calls and bang, $500. Maybe in a perfect world It takes around 100 connects (meaning answered by the decision maker, so to get to decision maker 100 times, usually about 300 calls, because 2/3 hit voicemail/unanswered) to get a sale, and that usually means over the span of a week to get the details in order.

      At least that has been my experience. 300 calls this week and only 2-3 solid leads and 1 appointment. It's doable, just not 'easy' hehe
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      • Profile picture of the author kenmichaels
        Originally Posted by payoman View Post

        If only it was that easy to make $500 haha, 50 calls and bang, $500. Maybe in a perfect world It takes around 100 connects (meaning answered by the decision maker, so to get to decision maker 100 times, usually about 300 calls, because 2/3 hit voicemail/unanswered) to get a sale, and that usually means over the span of a week to get the details in order.

        At least that has been my experience. 300 calls this week and only 2-3 solid leads and 1 appointment. It's doable, just not 'easy' hehe
        Now that you know YOUR numbers, and it appears its pretty consistent
        for you, its time for you to start making some changes that will help you
        grow.

        First one that comes to my mind, is your pitch.

        Now that numbers are in, you can make small changes, and actually
        know if the changes are working better or not.

        Sometimes, its just one word, or one sentence, that increases
        the amount of sales.

        A lot of people get to the point of making sales, and then say to themselves
        its working, i am not going to change anything.

        They are fools.

        You are making money, your past any point of desperation,
        you now what you are doing, and you have the numbers
        to back it up.

        It time for you to spread your wings a bit.
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  • Profile picture of the author John Durham
    Excellent story. Its not hard to get $250 up at a black jack table on 50 - 100 bucks if you know how to stop when you are winning.

    Telemarketing does work in a similar way, only you dont lose if you keep going, and you never run out of capital, because its virtually free to play!


    Dang, maybe Im in the wrong business. lol!
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  • Profile picture of the author Jason Kanigan
    Payo: it changes as you get more experience.

    A call from a relaxed and knowledgeable expert with some game behind him or her sounds a whole lot different from a nervous newbie.

    But

    You have to go through the nervous times (yup, I was once there) to get to the expert level. Surprise surprise!

    Relaxing on the phone is the #1 thing you can do!
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  • Profile picture of the author GforceSage
    I wanna hear how the gambler wins so much. What is he playing? What is his method? I win more than I lose betting sports, but the rest of the casino is dangerous to me.
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    • Profile picture of the author liindsay
      Originally Posted by GforceSage View Post

      I wanna hear how the gambler wins so much. What is he playing? What is his method? I win more than I lose betting sports, but the rest of the casino is dangerous to me.
      And there's that shiny object syndrome! lol

      It's nothing new tbh. Out of the full time gamblers I've met at the casino, I'd say 90% of them made a living off roulette mainly because you can actually choose your odds.

      So if you have enough money to start off with, you can play roulette with very high chances of winning (which basically means low risk low reward). E.g You might consistently bet 100 to win 20, but then if you get unlucky and lose the whole 100.

      It's all about treating it like a job, and quitting at your goal for the day, and also quitting at your set loss for the day. Definitely not something I could do.

      I stay away from the casino these days :p
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      • Profile picture of the author trieuphu
        I know a guy that plays poker for a living and aims to make about 80k to 100k a month.His bankroll is about 500k
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  • Profile picture of the author CurtH
    Being a newbee I’m guilty of chasing shiny objects (starting multiple programs). There’s an old saying a dog that chases two rabbits will lose them both.
    I need to find something and stick with it. Any suggestions from the wise?
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  • Profile picture of the author cayman
    I know that professional sports bettors have a target income (profit) on average of just 10% of their bankroll (- the whole amount of money they have at their disosal for betting).
    The average may mean in some months they may make just 8%, in others 12%.

    Other rules they follow is they bet a lot a lot more then a dozen games per week, and never ever risk on any bet more than 2.5% of their bankroll,
    And, of course they have a bankroll of at least $40,000, under this you can not be called a professional...
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  • Profile picture of the author laird
    cayman,

    I have a friend that started trading stocks in January of 2011 with $2k in her trade account. She systematically pushed that to just over $44k in December. She repeated this process in 2012 with huge results...Turning her $44k into $208k.

    Her process is to invest in nasdaq stocks with high daily trade volume but a value of $3.00 or less. She buys at the day's low (or near low) and exits with a 5% increase.

    (example: $1.50 share. She'll sell at $1.575. Her investment of $1,500 would net her 1000 shares. That 5.75 cent gain x 1000 shares nets her $57.50 for the trade.)

    That formula then requires her having the discipline to put that profit back into her next purchases and the cycle repeats.

    Doesn't sound like much profit BUT when you scale up like she does - and buys 10,000 shares to make $575.00 on the trade, well, the earnings just keep building.
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  • Profile picture of the author Kroncept
    Breaking down goals into days/weeks is awesome. That is the same way you figure out how measly your paychecks are in a 9-5 when you think you make "a ton of money" yearly!
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