Learn how to make $10,000 per month with no money by leveraging technology and your unique offering. Discover strategies for scaling up your business, hiring junior talent, and building virtual teams. Explore the factors that drive business growth and the importance of setting the right pricing strategy for success.
Technology and software have made it easier for tech-savvy entrepreneurs to achieve financial success without significant capital investments.
A three-step framework for building a successful business includes deciding on a path, starting a business, and scaling up while focusing on key financial levers.
Deep dives
Earning over $100,000 a year is more attainable than most people think
According to a research survey, 18% of individual Americans and 34% of US households make over $100,000 a year. This is higher than it may seem at first because it doesn't account for factors such as retired individuals, young people, incarcerated individuals, and those not actively seeking higher income. There are two distinct groups of high earners: highly educated professionals (e.g., lawyers, doctors) and tech-savvy entrepreneurs. The latter group, which includes solo-preneurs and small business owners, can achieve financial success using technology and software.
Leveraging technology can lead to financial success
Advancements in technology have made it easier than ever to make money without requiring significant capital investments. Software and automation tools allow individuals to achieve the work of multiple people using just a laptop. Leveraging technology tools like Canva and Zapier can streamline business processes, cutting down on labor costs and increasing efficiency. By staying up-to-date with technology and embracing its potential, individuals can maximize their earning potential and make substantial gains.
Steps to achieving financial success through entrepreneurship
The podcast episode outlines a three-step framework for building a successful business. The first step is deciding on a path by understanding one's skills and interests and learning new skills if necessary. The second step involves starting a business, either as a solo-preneur or by using talent marketplaces to find clients and build a portfolio. The third step focuses on scaling up the business by hiring virtual teams, developing standard operating procedures, and leveraging global talent. Additionally, the episode emphasizes the importance of focusing on key financial levers, such as product/service pricing, customer acquisition, and repeat purchases, to ensure sustainable growth.
Making money is a matter of understanding what you can uniquely offer and combining it with technology to get it into the hands of as many people as possible. In this video, I share my model for going from personal interest, to product or service, to cash in as little time as possible.