This is a straight forward, no B.S. guide on how to make $1000 a day while traveling the world.
How is this possible? Don’t I need a job? How can I possibly make a living?
Well for one, I did manage to be successful in a previous venture. And two, I run this super sexy mikevestil.com blog. So this ain’t my first rodeo when it comes to making money and traveling.
I’ve encountered and tested a bunch of ways on how to make money online. Some made me a good chuck of change. Others left a fat hole in my pocket. But if you really want to learn how to make an extra $1000 a day fast then this guide will give you an idea.
Introducing: The Guide On How To Make $1000 a Day Consistently
Now if you want to learn how to make $1000 a day then you need to go where there is $1000 a day worth of demand. There is this huge misconception where people think they need to invent an app or come up with a new idea to make a lot of money.
The people that believe this ARE WRONG.
If you are new to learning how to make money online, your biggest goal is to find what is already working and model that. Plain and simple.
So where are there places with $1000/day worth of demand?
There is no one answer.
You can create $1000/day selling T Shirts, creating a blog like this, or selling physical products. Regardless, if you can find where there is demand on the internet you can make money selling ANYTHING.
For today’s example we will use “selling physical products” as an example.
So now you’re probably wondering mike what the hell.. where do I find $1000 worth of demand?
Here are the steps:
- Think of a Product Idea
- Find Out If There is Demand In the Marketplace
- Drop Ship The Product
- Create A Sales Funnel To Increase Profit Margins
Step 1: Think of a Product Idea
When I first started as an entrepreneur, I made a huge mistake. I saved $2000 and spent it all on a huge inventory of dog leashes from China. It was shipped to my house, packaged, and ready for sale!
But guess what..
No one bought it. So now I have $2000 worth of dog leashes damn it. If you guys need one let me know because they are still sitting in my storage not being used.
With -$2000 to my name and a lack of confidence from my horrible decision I needed to be creative and come up with a way to recoup my costs. Instead of guessing what the market wanted I had to test my idea first. That is why drop shipping is great because you don’t have to buy the product until AFTER it is sold.
Here is a little exercise you can try: before you spend money on anything, try asking yourself what you or your family felt like they had to buy in the past 30 days?
Now I’m not talking about peanut butter, a spatula, or Hot Cheetos. I’m talking about something that they are so passionate about that they had to buy it for no other reason but to feel proud of owning it.
For example, my dad loves photography. Maybe even a little too much. He is so passionate about the topic that he sweats profusely when he thinks about it due to sheer excitement. He also drinks coffee every single day.
So a good product to test in this hypothetical situation is a coffee mug that is photography related.
I went to aliexpress.com (a marketplace with suppliers from china) and i searched for “camera mug.”
I found a coffee mug that looked like a DSLR camera lens for around $4 plus shipping. Not a bad product. Its small so shipping won’t be expensive. It looks pretty sturdy so it wouldn’t break easily. I could also probably sell this for 3 to 5 times what it would cost me. Sounds like a winner.
But before I buy thousands of these like how some people do with Amazon FBA, lets first test out the marketplace.
2) Find Out If There is Demand In the Marketplace
I typed “mug dslr lens” in facebook search and found this image.
Holy sh*t. Look at all those likes and shares.
Now if you look at the store that is selling it you’ll see that they sell for around $24.99 plus shipping and handling. If you multiply that by the 173,000 people that liked the image.. that is around $4 million dollars in “hypothetical” demand. Looks like the photography niche has the $1000/day worth of demand that we need. Now all you need to do is create a store with shopify, run traffic to that audience via Facebook Ads and make some money.
If you look at the comments, the crazy thing is people are buying this mug for $24.99 even though THE EXACT SAME MUG can be bought for $4.
The store even used the exact same pictures from the supplier.
How is this able to work? And how are people able to make money? Can’t the customer from Facebook easily go to Aliexpress and buy the product from there? Couldn’t they just buy it on Amazon.com for much cheaper? Why yes, yes they can.
But the weird thing is they don’t.
The reason this works is the niche is so damn passionate, they don’t use logic when buying it. My dad for example doesn’t ever have a reason to buy the photography stuff he buys. But he buys it anyways because he is so passionate about the topic.
When you are testing products, make sure that it is either one of two things
- The product solves a deep seeded problem
- The product has a raving fan base
And for the raving fan base, why do you think people wear their favorite sport’s teams uniforms? Because they are proud to represent their identity as being a fan of that team. The same applies to people that love cats, dogs, cross-fit, and photography.
3) Drop Ship The Product
After you create your store, you can run Facebook Ads to the product by putting it in front of an audience that would be more prone to buying it.
Once you make a sale, you can go to the supplier on Aliexpress and purchase it. But make sure you put your customers shipping details in instead of your own. Once the tracking is updated in Aliexpress, you can go into your shopify dashboard and update the tracking.
One major note that I have to emphasize is that when you look for suppliers, make sure they have “ePacket” as a form of shipping. Remember this product is being shipped from China. So usually it can take up to 4 to 6 weeks to receive.
But if you select ePacket, it cuts down the time to around 2 weeks-ish and the customer will be a lot happier.
Also ePacket has a USPS tracking number once it enters the US which will help you as well as your customers out since you both can keep track of where that item is.
The reason why I don’t recommend doing this for the long term is that customer service will end up sucking with people waiting one or two weeks to receive their product in a world where Amazon.com has 2 day shipping with prime. BUT, if you are wondering if people are actually making money with this. Don’t worry because they are. There are people still doing this every single day and making an absolute killing off of it. One of my friends does thousands of dollars a day selling cat socks. CAT SOCKS.
Create A Sales Funnel To Increase Profit Margins
Now the above method for making $1000/day works but it is for amateurs and people with a “get rich quick” mentality. You can make money quick but it will not last long as it is a poorly modeled business that focus on acquiring a huge number of customers and then just running away with the money.
The real way to make $1000/day is by creating sales funnels and ultimately partnering with U.S. suppliers to decrease the shipping time.
The Traditional Model Of Business
Before we can talk about a sales funnel, lets go over what the traditional sales process is. You have a product (in this case the $24 item sourced at $4) and spend money on traffic ($10) to get that product in front of the right people.
So if you do the math. A $24 sale minus the product cost of $4 minus $10 which is the amount spent per acquisition of a customer will leave you with $10 profit.
To make $1000 a day, you need to sell to 100 people. That is definitely doable especially with the internet. But I believe in efficiency and making more money for less work.
So what happens when we add a sales funnel?
What is a sales funnel?
A sales funnel is the buying process that a customer goes through when making a purchase. The best way I can describe it is by using a dentist as an example.
I learned the above image from Russel Brunson. It is called a value ladder which means the more value you give to a customer, the more you can charge for the product or service.
This is how the value ladder works in a typical trip to the dentist. I walk in and say whats up. The dentists sits me down and gives me my regular teeth cleaning which has the lowest price point.
While he is cleaning my teeth he says, “Mike do you happen to smoke?” I end up getting curious, wondering why he would ask that. I tell him no I don’t.
The dentist then says, “Oh that’s weird, I thought you smoked because your teeth are a little yellow.”
First thought that goes on in my head: Wow this dentist is an asshole
Second thought that goes on in my head: Oh geez, my teeth are yellow.. do you think other people have noticed?
He sensed my worry and proceeds to tell me, “No worries Mike everything is fine, I have this super strong teeth whitening tray that I can apply on you right after your cleaning if you want.”
Ummm.. hell yes doc fix my yellow teeth please.
After he is done hypothetically whitening my teeth, the doctor will then notice another problem.
Doc: “Mike did you have braces when you were younger?”
Me: “Um yes doc why do you ask?”
Doc: “Oh its nothing.. I just see a little gap in the middle of your teeth I was just curious”
Me: (freaking out) “Doc is there anything you can do to fix it?”
Doc: “Don’t worry I can create a custom retainer for you if you want”
Me: “Please do”
The doctor will then repeat this process and sell me more of his more expensive products to the point where he is telling me, “Mike you are butt ass ugly.. the only way we can fix you is if we go under cosmetic surgery.”
And of course since I run a YouTube channel and care about my looks.. I would have to take him up on his offer.
This is how a sales funnel works. I came in just for a clean up which was his cheapest offer. But while I was sitting in the chair, he sold me more and more expensive stuff while I was there. Why? Because I was already at the dental office. Its much harder for him to up sell me his more expensive products if I was at home since I wouldn’t be in the “buying mentality” (in this case “fixing teeth” mentality).
But from just one visit, he was able to get as much money out of me as possible by providing more and more value while I was still in the dentist’s “sales office”.
This works the same with eCommerce stores.
Amateur eCom people only focus on the front end sale. That is why they struggle to break even and profit because if there profit margin is only $10 then they only have $10 at most to spend on advertising before they start losing money if they don’t make a sale.
For the professional entrepreneurs that have a sales funnel in place, they will profit more per visitor. This will allow them to spend more on advertising to acquire the customer since their profit margins are much higher.
So lets go back to my dad. He loves photography. So if he were to buy a camera coffee mug.. what would be the next step in the value ladder that an eCom store could offer?
A possible idea is a camera backpack.
So I would go on Aliexpress and find a camera backpack that I could charge a higher price point than the coffee mug. This one is a good one right here.
The bag is only $20 and it has UPS 5-9 day shipping which would make the customer extremely happy. I can easily charge the customer $60 for this product.
So in the sales funnel, if a visitor lands on your website and buys the first product, they will then be offered another relating product after they have already purchased the first.
Now they don’t have to buy the product, but if they do, you make $50 profit from that one customer while the amateur entrepreneur only made $10. This is similar to being at the dentist office. When the visitor buys your first product and becomes a customer, they are now in the buying mode.
So wouldn’t it make sense to sell your customer more stuff right away?
Without a sales funnel it would take you up to 5 times more customers to get $1000 a day in profit. So which one do you think is easier? Getting 100 customers a day or getting only 20?
The only downside with shopify is it doesn’t allow you to create a funnel like this that upsells your customer after they have already purchased. Most shopify apps start upselling way before the customer is ready to complete the order. This scares customers away and prevents them from actually buying.
This is similar to if a dentist would start selling me to get teeth whitening and a retainer before I actually invested in sitting in the chair. The dentist wouldn’t make any money from me because he never got me to agree to the first step of the value ladder.
Your biggest goal is to find a way to get your visitor to commit to buying the first product. Then after they have been charged, that is when you offer them your up sell.
The way around this is by using Clickfunnels. This is the software I used to sell physical products in the past as well as what I create all of my funnels with now.
And if you think $1000 a day is a lot of money, then you don’t truly understand the full potential of sales funnels yet. Because the same person that taught me about the value ladder uses this exact same up sell method to make $17,947 per day with his eCom funnel.
The beauty about funnels is once it is set up, all you have to do is drive traffic to it. Since you now have a higher profit margin, you don’t have to worry about your stats as much as the other people selling on Facebook because you have that one up sell to help recoup your cost of advertising and stay in the green.
The good news is the internet is still young and crowded with lazy amateur entrepreneurs that don’t want to take the time to learn how to effectively build sales funnels. This means that there is more out there for you to profit from.
If you are wondering if you have what it takes to build a sales funnel, don’t worry. Clickfunnels makes it super easy to create funnels that can sell anything online.
And even if you tried it and only got 10% of the $1000 profit a day, wouldn’t that still help out a lot?
The time is now.
Start creating your sales funnels and begin to profit more with less work. And use that new found free time to travel the world and live your life the way you want to.
Question: Where is the one place in the world you would love to visit if money was no issue? Leave a comment below!
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- The 80 20 Rule | How Calculated Laziness Equals Efficiency
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