Objective: Making 10k+ a month residual in 5 years working 1-2 hours a day! I need Direction!!

by Wsoram
14 replies
Hello, my name is Enrique Arcay.

The goal of this post is find the best direction for my self in how to make 10k+ a month residual income using the internet.
Working 1-2 hours a day for 5 years. In something that I like.

I will talk a little bit of my self so you can advice me better.

I'm 28, married, no kids, living in Portugal. But I'm actually Venezuelan.
I lived 16 years in Venezuela, 1 year in Costarica, 1 year in USA, 9 years in Rio de Janeiro (Brazil) and now I've been 1 in Portugal (Algarve).
My parents Currently live in California with my brother.
Currently I can't invest in anything, I'm "Broke" since my dad is a petroleum engineer hes been unemployed for 2 years, since the oil price was around 20$.. so I'm helping my parents + my expenses are not giving me room to invest in anything. But now with the oil around 60 that will change! I hope he finds something fast! (PS. If you now anyone that wants to hire a 30+ years of experience petroleum engineer talk to me or find (Erving Mayorga, MSc. Pet. E. ) in LinkedIn.
Anyway.
I love Traveling, photography and music (I play many instruments). I don't have a degree (Yet),
I Speak Portuguese, English and Spanish fluently.
I'm currently been working as a Realtor in Faro (Portugal).
I'm a fast learner and good with computers.
I know a little bit of SEO, creating campaigns in Facebook/Google, photo editing, selling.
I have 600+ contacts of people wanting to buy and sell properties here in Portugal.

I just need some direction in how I can start something for family so I don't have to work a normal job for my hole life. I'm planing to have kids in about 5 to 7 years and by that I would like to be very present in my family, work less than 4-5 hours a day. And start with out spending..
If my dad finds a job I may be able to start investing about 300$ a month and scale up.
#10k #day #direction #hours #making #month #objective #residual #working #years
Avatar of Unregistered
  • Profile picture of the author Jason Kanigan
    Find affiliate offers you get paid for again and again when the product or service rebills. Especially annual rebilling.

    Then you only have to make the sale once, and it keeps paying you.

    What has characteristics like toilet paper? That's a question I like to ask and remind myself of frequently. People use it continuously, they can't stop using it, they feel they need it (at least in the West), and once they fixate on a brand they tend to stick with that brand. Same for alcohol. Or cable service. Or insurance.

    Get Tom Addams' Month One WSO. It has all the instructions and is the best of its kind. You don't know me but I am a Conversion expert. Tom is a Traffic expert. You need both Traffic and Conversion to make online sales--any sales--work. Tom's WSO is very thorough. I do not get paid anything for recommending you get it here...it's just the best "here's how to set up an affiliate blog" product I've ever seen. And I'm using it myself.

    Pick offers that support your money target. Very hard to get to $10K on $1 or $10 sales. Ideally you want $250, $500, $1000 or higher commissions. But you might want to start with smaller offers to learn how to do things...then take what you learn and scale up. You will likely need several if not many sites (no big deal once you've figured out the first.)

    Learn to drive the amount of traffic you'll figure out you need to keep generating enough new sales to replace those that drop out.

    For simplicity's sale let's assume you have one converting offer on one site, and that's magically enough to get you there. Let's assume these things:

    $500 commission offer

    200 visitors converts to 1 sale

    20% fall-off rate every year (2 in 10 people don't renew).

    You have to get enough traffic to make up for the fall-off rate.

    First year, you need 20 sales, right? (10000/500)

    And you need 4000 visitors. (200 X 20)

    That gives you your activity level. These are just numbers I pulled out of a hat, by the way: they may not be anywhere close to reality. I'm sharing them to give you the idea. Make your own spreadsheet, estimate, then measure planned versus actual performance and adjust after three months.

    Your activity level is 4000 visitors in Year 1. Assuming a quick sales cycle of say a week--as long as it's under 30 days you're OK in this simulation--that means you need to bring in 334 visitors every month. (4000/12) And before that 3rd week starts, too!

    How are you going to accomplish that?

    Nearly every newbie never gets this far. They are "trying to make as much money as I can", which you have avoided by setting a target (good for you). They grossly underestimate the amount of traffic they will need, if they ever consider the question at all, and are therefore beaten before they begin. (If pressured, they'd give you a "Gee, I never thought about it before" figure like 500 visitors to hit the 20 sales, for instance.)

    So where are those 334 visitors a month going to come from? That's what you have to figure out.

    Year 2 is a bit different. 80% of your customers in this example will rebill automatically and stick with it.

    20% will not, and you have to replace them.

    Well, the system has already been figured out in Year 1, hasn't it. And you don't need to get as much traffic this time around, do you. 20% of 4000 = 800 visitors. Since you learned how to plow 334 visitors a month through the site in Year 1, this should be child's play: you'll have it done by the middle of Year 2's Month 3.

    And if you want to grow, just keep doing what you're doing. The entire rest of the year is gravy.

    Again, you want to be watching Planned vs Actual performance all the way along. Making adjustments when the Actual doesn't match up to the Planned. Do market conditions change in Year 2? Do you find it now takes 400 visitors to make a sale? Then you'll have to raise your traffic generation, won't you.

    This is how to run a campaign. Not the "throw something at the wall and hope it sticks" approach of most newbies.

    Good luck!
    {{ DiscussionBoard.errors[11325520].message }}
  • Profile picture of the author Oziboomer
    Hi Enrique,

    I was thinking of a response for you and then along came Jason.

    Residual stuck in my head because earning the amount you want is not that hard but the residual part is somewhat elusive. Most of the things I do require ongoing management and effort to maintain income and growth.

    Immediately when I read residual I thought about the trailing commissions earned by mortgage brokers and it got me thinking about how you could leverage those commissions.

    It is a bit different from Jason's approach and not so much about online but if you can find prospects who want to buy into the Portuguese market and you can organise the finance then you could get the residual income you seek.

    Best regards,

    Ozi
    {{ DiscussionBoard.errors[11325524].message }}
  • Originally Posted by Wsoram View Post

    I Speak Portuguese, English and Spanish fluently.
    You could start an online business teaching people to speak the languages you are fluent in, in your country you currently live in. It should be easier to rank on the 1st page of Google's search results using Local SEO. It's free to start and you can offer one on one coaching. Use the search function on this forum to learn everything you can about SEARCH ENGINE OPTIMIZATION, knowing just a little bit about SEO, won't be enough to rank on the first page of Google.

    Originally Posted by Wsoram View Post

    I'm currently been working as a Realtor in Faro (Portugal).
    Working in real estate, already means that you may have some knowledge about marketing. In real estate, it's usually not your own homes you are selling. You will be selling you client's house in most cases, and all you have to offer your client in order to secure the sale of his house, is by letting your client know how you will market his property.

    Now you have to use those same marketing skills and transfer them to internet marketing. Like with real estate investment, the long term money is usually in generating rental income.

    Create an online business that will generate a monthly passive income stream.

    Originally Posted by Wsoram View Post

    I'm a fast learner and good with computers.
    I know a little bit of SEO, creating campaigns in Facebook/Google, photo editing, selling.
    I have 600+ contacts of people wanting to buy and sell properties here in Portugal.

    I just need some direction in how I can start something for family so I don't have to work a normal job for my hole life. I'm planing to have kids in about 5 to 7 years and by that I would like to be very present in my family, work less than 4-5 hours a day. And start with out spending..
    If my dad finds a job I may be able to start investing about 300$ a month and scale up.
    I suggest that you do more research on product creation and product launches. Here are many courses on those topics in the WSO section of this forum. Creating your own stock of products to market and sell, is a million times better than promoting other peoples' products. Product launches are where the real money is online.

    .
    {{ DiscussionBoard.errors[11325540].message }}
  • Profile picture of the author FiveStarFiverr
    Banned
    Originally Posted by Wsoram View Post

    Hello, my name is Enrique Arcay.

    The goal of this post is find the best direction for my self in how to make 10k+ a month residual income using the internet.
    Working 1-2 hours a day for 5 years. In something that I like.
    I agree with other posters about finding an affiliate program with residual income. However, I am going to add a few more things here.

    First, expect to work far more than 1-2 hours a day in the beginning. If you want to reach $10K per month, you need to put in the time to get the foundation built. Once you get some money rolling in, you can start automating things.

    Second, I would not only promote an affiliate product, but a few affiliate products. Figure out how to build a list with a landing page, and then promote the first affiliate product. Use an autoresponder and have it set up to email your new lead over and over again with the first affiliate promotion, Then, after about two weeks, move on to the next product and so on.

    If you build a list, you can get to the point where you send out an email and you make your $10K per month in about a day.
    {{ DiscussionBoard.errors[11326972].message }}
  • Profile picture of the author ryanbiddulph
    What does 10K a month mean to you E?

    I caution against money goals; working for numbers on a screen or simple means of exchange leads one in strange directions, often away from happiness because your driver is heavy conditional.

    How about doing what you love doing and tying it to a pressing problem?

    Sounds like a fun start to me.
    Signature
    Ryan Biddulph, Blogger, Author, World Traveling Digital Nomad
    Retire to a Life of Island Hopping through Smart Blogging at Blogging From Paradise
    {{ DiscussionBoard.errors[11327103].message }}
  • Profile picture of the author Gabriel
    Administrator
    I think you are not realistic at all... 10K residual is 120K per year, with just 2 hours per day.... mmm even is 5 years...
    is not about "how long will it take you" is about momentum
    Signature

    =======
    Gabriel Machuret
    Head of Warrior Forum

    If you aren't happy with the Warrior Forum PM me. I want to know about it.

    {{ DiscussionBoard.errors[11327116].message }}
    • Profile picture of the author salegurus
      Originally Posted by Oziboomer View Post

      Hi Enrique,

      Residual stuck in my head because earning the amount you want is not that hard but the residual part is somewhat elusive. Most of the things I do require ongoing management and effort to maintain income and growth.
      Ozi

      Sorry but i strongly disagree even working 12 hours per day nevermind only 2...



      Originally Posted by Gabriel View Post

      I think you are not realistic at all... 10K residual is 120K per year, with just 2 hours per day.... mmm even is 5 years...
      is not about "how long will it take you" is about momentum
      Thank goodness there are still realists around...
      Signature
      Think of how stupid the average person is, and realize half of them are stupider than that.

      ― George Carlin
      {{ DiscussionBoard.errors[11328528].message }}
  • Profile picture of the author MeelisM
    I think you're also dreaming about a residual income in internet business. In my opinion it will never be residual in a sense that you don't have to do anything. There are problems to solve, after which new problems arise constantly. You will be working, but you will be working for yourself building your company. Eventually you can scale it up and organize the tasks to be done by other people, but it's still not residual 100%.

    If you want residual income, buy real estate and hire people to take care of the apartments. And even then you will have to deal with a lot of stuff probably.

    So time to change your mindset
    {{ DiscussionBoard.errors[11327194].message }}
  • Profile picture of the author Caitlinz
    There are 3 options,
    1. As others have mentioned, build affiliate sites promoting a product. Higher the commission, lower the number of visitors you need to reach your target. As for me, I build amazon affiliate niche websites, for every 200 visitors I send amazon, I make $40 to $100 each day per website.

    2. SAAS product. Build a quality product once and sell it all years. Outsource Customer support.
    3. Dropshipping using woocommerce or shopify.
    {{ DiscussionBoard.errors[11327197].message }}
  • Profile picture of the author Patricia Lynn
    Make money online with your own profitable website. Use Affiliate marketing selling other peoples products on your website. Affiliate commissions vary depending on the products you choose earning a commission from 10 to 75 % rate.

    Check out affiliate marketing providers who specialize in affiliate sales. Most affiliate providers also offer classes in digital marketing showing you how to become an expert in sales. If you want to create a profitable blog decide on a niche in one specific area of interest you are passionate about. Topics of interest are sports, baseball, golf, fishing, baseball, cooking, meditation and many more categories to choose from.

    Purchase a domain name related to your niche people will easily associate with your website. Building a profitable website can yeild a passive income over time. Study digital marketing strategies from experts and affiliate marketing providers for best results.
    {{ DiscussionBoard.errors[11327305].message }}
  • Profile picture of the author shmeeko69
    You're not asking for much wanting 10k+ per month residual income within fiver years?

    There are loads of people in this arena (including me) who've been in this niche and don't
    earn that, so having this kind of figure and/or expectation is crazy.

    Why not just try and enjoy what you're doing and see were it's takes you as opposed to having figures in your head?
    Signature
    The Rock n Roll of Marketing Reviews
    {{ DiscussionBoard.errors[11327381].message }}
  • Profile picture of the author Jonleecontent
    Yeah this is like saying you want to win the lottery.

    Get realistic and pick a workable business model rather than just hoping you can work for 1-2 hours a day and get rich.
    {{ DiscussionBoard.errors[11327504].message }}
  • Profile picture of the author buisao
    I think this is your dream. Work 2 hours per day and make 10K per month
    {{ DiscussionBoard.errors[11327769].message }}
  • Profile picture of the author bwh1
    Not trying to take you away from your idea but in your situation I would setup some business which can do a quick renovation of the houses you are trying to sell.

    Let me explain better...you get access to a house for sale....but the place need some renovation, like painting or new flooring etc... the selling price will increase and it sells faster that way

    You manage the renovation and make a commission, and maybe get a headstart to sell the place first.

    Still will keep a few hours to start a IM business if you like...best is selling your knowledge over courses....take a look at the option to get some at UDEMY which would also cover the "residual" part.

    Good luck
    Signature

    Affiliates Wanted! Make anywhere from 42,- to $72 in commissions. Simply Recommend the Best QuickBooks Pro Video Course available at Clickbank.

    {{ DiscussionBoard.errors[11328175].message }}
Avatar of Unregistered

Trending Topics