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$20,000 a month (gross)

Discussion in 'General Entrepreneur Discussion' started by Steve K, Jan 9, 2008.

  1. Steve K
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    Steve K New Contributor

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    what kind of business can net $20,000/month ?
    what kind of initial start up would we be looking at ?

    is there anyway that an INTERNET business can possibly do 20k ? even 12-15k ?
    by selling a PRODUCT.. not a service...
     
  2. GettingThere
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    GettingThere New Contributor

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    This is not meant in a rude way, but if you haven't taken a look at MJ's post here, I would start there.

    I really don't think anyone here will tell you that business X CAN'T make a certain goal money-wise. The ideal behind taking an idea into the fastlane is to make it grow exponentially...no limits. I'm still new here myself, and I'm now trying to think of more than just what business would be good...how do I make it better/faster/more efficient?

    -John
     
  3. Steve K
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    Steve K New Contributor

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    sorry
    i didnt see MJs post
    my bad
     
  4. 6.0_bull
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    6.0_bull New Contributor

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    Steve...As much as you should read MJ,s post and fully understand those principles for business success I completely agree that you need mini goals to achieve bigger goals etc ...

    So for Steve to set a goal for himself that he needs to make $20,000 a month, that is excellent and that will only drive your creative mind and thoughts on how to approach the fast-lane to success and get those creative juices flowing so you do develop a business model that will bring you $20k /month or more hopefully..

    I think thats a great start to goal setting....so you do find that business X idea ...
     
  5. GettingThere
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    GettingThere New Contributor

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    I agree completely with goal setting. What I gathered from the post, though, was that the desired response would be in the form of "you can do this, and expect to earn this...". Basically, chasing the money rather than pursuing an idea and trying to build a revenue generation plan upon that idea.

    If I misread the intent, my mistake.

    - John
     
  6. Russ H
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    Russ H Gold Contributor Read Millionaire Fastlane Speedway Pass

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    My previous S biz did about 15-20K/mo on average-- but this was GROSS, before PRE-TAX expenses (you need to learn about those-- Diane Kennedy's books are great for this).

    Our current biz (running a B&B) throws off about $20K/mo net before debt service-- but mortgages are a LOT! We're building up equity in the business so when it sells, we'll retire (in 3 more years).

    My big question to you is: Why $20K/mo net? Do you have big medical bills? Drug habits? ;)

    The bigger question for me would be: What can I develop and SELL a few years later for millions of dollars more than I paid for it?


    THAT is fastlane thinking.

    Developing a biz that throws off 10K or 20K a month is great-- but it's still a J.O.B.

    -Russ H.
     
  7. Diane Kennedy
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    Diane Kennedy Bronze Contributor

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    $20K/month? Heck yeah - shoot for $20K/week.

    Check out my website www.TaxLoopholes.com. My formula is simple - create an opt-in list (not sure that's as important these days), post useful, relatable content daily (blog format), create products that people want and need, get a way for your clients to relate to you and build rapport, consistently over-deliver on promises, ask for testimonials and referrals.... that's about it.
     
  8. Diane Kennedy
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    Diane Kennedy Bronze Contributor

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    Bumping this to hear SteveK's update.

    What happened with this? I'd love to see someone take on this challenge and post their progress.
     
  9. Steve K
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    Steve K New Contributor

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    no progress yet

    im trying to figure out what i can sell that business' would want.
    i think i came up with something that restaruants would be interested in..

    i also think that debt consolidation might be something good for people now

    im trying to be in the mind set of "what can i offer people"
     
  10. Andrew
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    Andrew Contributor

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    I said go to tradeshows.. you will have more ideas than you can act on.
     
  11. Steve K
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    Steve K New Contributor

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    andrew
    where do i find trade shows in nyc ?
     
  12. Adam
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    Like Diana said, shoot higher.

    If you're going to go through the effort of starting your own biz (your own biz = liability, long hours, high expenses, etc), you should be upset when you ONLY make $20k, not happy when you do!:)
     
  13. Andrew
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    Andrew Contributor

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  14. NerdSmasher
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    NerdSmasher New Contributor Read Millionaire Fastlane

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    Well, I can't guarantee anything like 20k a month, but over the summer I had a website that I set up in about an hour that made me about 4k a month. It would've been more, but I didn't have much money to start advertising with PPC engines with. It would still be up and making me money, if Google hadn't banned me for breaking their terms of use agreement... which I didn't do... but, I can't convince them of that :(
    Oh well, next time I won't depend on them :)
     
  15. Russ H
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    Russ H Gold Contributor Read Millionaire Fastlane Speedway Pass

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    OOPS-- just noticed that you said "gross" not net.

    For some weird reason, I thought you were asking for net (and that's what my answer above was oriented towards).

    -Russ H.
     
  16. Luke12321
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    Luke12321 Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER

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    Thousands of ways to make 20k a month. If anyone wants to pay me 20k a month to post on Fastlane's, I will consider your offer. :smash:
     
  17. Jorge
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    Jorge Bronze Contributor

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    They banned your domain from the index or your adsense account? If the last is the case why don't you go with yahoo adv?
     
  18. hakrjak
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    hakrjak Bronze Contributor Read Millionaire Fastlane

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    $20k a month from running a B&B? Wow Russ... I always thought of B&B's as sleepy little businesses you run when you're retired and have your house paid off to generate a little extra money to spend on geritol and decorations for your walker... haha I never heard of one so profitable! Good for you!

    - Hakrjak:smxG:
     
  19. hakrjak
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    hakrjak Bronze Contributor Read Millionaire Fastlane

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    Why not just patner with someone who has a valid adsense account, like me?

    haha :)

    - Hakrjak
     
  20. NerdSmasher
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    NerdSmasher New Contributor Read Millionaire Fastlane

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    Oh, no, my adsense still works. They suspended my adwords account, lol. I plan on opening another one eventually, but I need to get a new credit/debit card first; and when you're 17, it's somewhat challenging :)
     
  21. Jorge
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    Jorge Bronze Contributor

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    Oh, Then its a bit more difficult BUT for 4k passive a month I would find someone with one right away!
     
  22. Steve K
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    Steve K New Contributor

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    $4k a month in passive income would put a huge smile on my face..
     
  23. Russ H
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    Russ H Gold Contributor Read Millionaire Fastlane Speedway Pass

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    Yeah, Napa Valley and all that good stuff. :)

    Last year's gross was a tad over $750K (avg $62,000+/mo).

    And that was with only 9 rooms.

    We just opened another 3 rooms.

    And 3 more are coming on line in the next few months.

    And another 12 rooms will (hopefully) come on line in the next 12 months (27 rooms total).

    You can do the math. It's not bazillions, but it ain't chickenfeed, 'neither. ;)

    -Russ H.
     
  24. fred333
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    fred333 Banned

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    Man sounds like you have nice B&B going there. Good luck with everything.
     
  25. hakrjak
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    hakrjak Bronze Contributor Read Millionaire Fastlane

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    Yeh if you're in Napa, we're gonna have to come and see ya on our next wine tasting trip.... Is there a fastlane discount for old buds? :) haha

    - Hakrjak:banana:
     

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