How I Generate $30k or More Monthly
From my April 25 post I received several inquiries asking how "I" make $30,000 or more each month, so in this post I will explain how I do it. First, the way I do it is nothing new or unknown. As I stated in last post, go to YouTube and you will see hundreds of people that make thousands of dollars, and in some cases millions of dollars each month. The only difference is we take risks, get educated, and put our plans into action.
Most high revenue producers are unknown everyday people like myself who wanted to make a good living without relying on an everyday job. Sure, the hours and days can be long sometimes, but its not like going to a job because we set our hours and days, and in many cases we don't have to put in the long hours and days, we do it because we like what we do, the money is the reward for doing it. So, here are the steps I take to earn my reward(s).
1. Setting Clear Financial Goals
I set my minimum goal to make $30,000O each month, the key benefits of strategic planning is it helps me set clear financial goals for my business. Whether it's increasing sales, advertising, or promoting products or services as at discounted prices. By setting specific and measurable targets, I can track my progress and make informed decisions to achieve those goals.
I set my goals to send out emails, post my blogs on Instagram, and TickToc. In addition to social media I spend $200 for advertising on social media.
2. Playing The Numbers
Its all about the numbers. Think about how almost everything we do is based on reaching certain numbers. How many hours you work to earn a certain number, how much it cost to live and eat is base on numbers, how many days you have been on earth is based on numbers. So, when it comes to making money you have to decide what numbers you need and want. If you want to make $30k, find something to sell. Play the numbers game, do I want products or services that I can make a $1, $5, 10, $100, or $500 profit. Example: $50 require 600 sales each month to get $30,000, $100 require 300 sales, or $500 require 60 sales. So, as you can see it does not take a lot of sales to make $30,000 monthly.
Now, the other part is how many products or services do you sell? If you are only selling one item it require more effort than if you are selling five items. Why? because of the numbers. When, if ever have you saw a business that sells one item at one price?
I have eight products and six services that I am able to offer consumers that I target, my job is to play the number game. If I can reach 100,000 potential customers and I get two-hundred sales with an average sale of $150.00, I get my $30,000 or more.
3. Allocating Resources Effectively
Strategic planning has helped me sale effectively. Being from the old school it took me a while to realize that social media is the way to go. Prior to shifting my way of marketing I was paying $150.00 weekly to go to a local studio and record my one hour talk show, only to realize that I could get better results by posting on social media for free. Now I use Facebook, TicTok, Instagram, and X /Twitter to reach my targeted customers, and I am currently preparing my Youtube channel to use as an additional source of marketing.
4. Planning for Long-Term Growth
Long-term planning is a key factor when you are trying make above average income or revenue. In today's technology world long-term can be 6-12 months. With all the technological resouces that are free or low costs, some people have gone from broke to millionaires in less than six months. My long-term planning started in 2019 when I started writing my book U's Rules For Financial Success: How To Unlink The Poverty Chain, and today I am still working on "my" long-term plan. Planning is a contineous and on-going part of making money. As it is said, you don't need a plan to fail.
5. Adapting to Changing Market Conditions
Market conditions are always changing, and I have learned that in order to keep pace, I must keep changing. As I mentioned in item 4, I had to change and adapt to using social media as part of my strategy for increasing revenue, hence the new website, blog, facebook, instagram, tictok, fivver, incorporting my business, and other resouces that I had to adapt to in order to reach my intended financial goals and objectives.
I have had to adapt to doing more research on my targeted consumers, adapt to experimenting with various pricing, adapt to creating more products and services, and adapt to being more creative. Adapting to market conditions keep the money rolling in. I think about how to adapt my business on changing economic conditions, good or bad, because consumers will still make purchases, I just have to adapt my pricing, products, and services to meet their needs.