One of my best newsletter​!

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Subject: $10,000 per month strategy

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Hey Grow Nation,

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Hope you are having a fantastic weekend 🤍

 

Last week, we discussed how to identify a $10,000/month idea by:

 

(a) Solving a frustration

(b) Addressing scarcity

(c) Solving "rich people" problems

 

We also talked about running it through a "Scale" test where we identify how many sales you would need to make $10,000/month. It might be a lot easier to sell a $5 cupcake, but you would have to make 2000 sales/month to reach $10,000 gross (and then deal with the costs too!).

 

Alternatively, you could sell ONE $500,000 house as a real estate agent and make the same $10K in commission. However, selling an expensive product is difficult and requires more skill. Which is why, so many real-estate agents sell 0 homes in a year.

 

Anyways, let's say you identified a problem that passes the scale test. We still need to BUILD A STRATEGY that sells.

 

This requires you to build a funnel. For instance, let's walk through my funnel. There are essentially three parts to it.

 

Part 1: Free gift

I started my journey with Potato Talkies by creating immigration videos and free e-books on how to immigrate to Canada without using an agent.

I was addressing a frustration (a complicated process) and solving scarcity (no one-stop-free-shop for immigration-related information).

 

We were building content at scale but had not monetised it (apart from revenue share from YouTube), which is $68,528 since November 2019.

 

More importantly, through the e-books, I built a strong email list of 150,000 people interested in moving to Canada.

 

Part 2: Product to Prospect

Once we reached 100K subscribers on YouTube and many people started coming to Canada following our free ebooks & videos, I pondered the next challenge that immigrants face - "getting a job." Again, addressing scarcity and an ongoing frustration.

 

With my strong background in business & hiring, I launched a $200 (USD) LIVE course, teaching how to secure a 6-figure job in Canada. I conducted two 6-hour LIVE trainings per month with groups of 6-8, consistently earning $3,000 - $4,000 a month (I only spent about 20 hours/month doing this - that's $150-200/hour).

 

I also built an email list of 40,000 people who downloaded the free job search guide; 400 purchased the LIVE course (the waitlist was 3400 but had limited capacity as they were LIVE - they used to sell out in minutes).

Now that I've made the course free, I've had over 6,000 downloads! Access the free course [here]

 

But this was still not my core offering - it's just part of the bigger funnel.

 

Part 3: Core Offering

Now that I've helped people get good jobs, what's the next step?

Buying a home!

 

And then I got into mortgages. Due to this mega-funnel built from Nov 2019 (Starting Potato Talkies) to Nov 2021 (Starting my mortgage career), I was able to help 300+ people buy their first homes in Canada - that's Gross Commissions of $1.5M+ in 2 years (I obviously don't keep all of it - I have brokerage & team splits to pay).

 

You know the amazing part about being a mortgage agent - I still get to charge $0 to the client for working with me! To date, I do not sell anything to the clients in exchange for dollars and I'm on my way to a 7-figure business in 2024.

 

Not all funnels are like that: Let's take a micro-example of another $10,000/month (fictitious) business: Nav's Mobile Car Wash Inc - as the name suggests we clean your cars from inside & out for $150/clean - and we clean it in your driveway!

 

In order to make $10,000/month, I need to sell about 60 car washes a month. Let's build a strategy for it:

 

Step 1: Free Gift

I will print 5,000 flyers that say:

 

Nav's Mobile Car Wash Inc

Free carwash

We come to you

Call (647)123-4567

 

I will go to posh neighborhoods and place these flyers on all dirty cars.

Let's say 1% call for the service - that's 50 free washes.

 

Step 2: Product to Prospect

I would seek permission from the owner and make Insta reels of cleaning their cars and post them on my social media - people love watching this kind of content. I will get more calls from social media.

 

If this were a real company, my Insta bio would say:

 

Nav's Mobile Car Wash Inc

Mobile detailing in Kitchener - Waterloo - Cambridge

Call: (647) 123 - 4567

Website: www.navcarwash.com
 

Also, I will ask for a Google review at the end of the wash - all 50 of them will give me a 5-star rating for the free car wash - that would give me a lot of social credibility that will help me prospect better.

 

Step 3: Core Offering

Now that you have serviced your first 50 clients, I would ask for two things:

• "Would you like to book another appointment for next month? It's $175/wash, but if you book it now, I would make it $150!"

• On the second visit, I would ask them if they would want to make it a bi-weekly or a monthly subscription.

 

I will continue to do flyers --> Free first wash --> Shoot for social media / get google reviews --> Core offering and soon enough, I would hit 60 car washes a month, generating almost $10,000 a month of revenue.

 

After 1 year of perfecting the process in Kitchener and building a strong brand on Instagram, generating 500+ 5-star Google reviews - I will now be ready to hire or franchise the model and scale this into a Canada-wide brand.

 

There are a few ways to execute this business. This is just one micro-example. Sounds simple, but of course, there will be challenges, and I will learn through them and improve the core offering.

 

So, when are you starting your own business? 😉