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Make $1,000 in 30 Days as a new entrepreneur

Discussion in 'Hustles, Freelancing, Bootstrapping' started by pmsmith2032, Feb 6, 2019.

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  1. pmsmith2032
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    pmsmith2032 New Contributor

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    If you had to pick one method to make $1,000 in 30 days as a new entrepreneur, what would it be? My background is in accounting and I do run a small bookkeeping side business (not that this necessarily matters). I have no experience with importing, reselling, writing code, or copywriting. I have read The Millionaire Fastlane twice (last time about a year ago). Thanks in advance!
     
  2. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    It's actually a good question, looking forward to hearing what people think.
     
  3. ZCP
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    ZCP Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    0. What do you have to work with? Skills? Assets? Tools? Connections (most important)?
    1. What is your why? What do you want to do / become?
    2. How much do you need to accomplish that?
    3. What skills / income / long term path are needed from this venture to support 1. and 2.?

    Then brainstorm how you can provide value..... 3 minutes, all the crazy ideas you can come up with. Then select 3 to 7 to dive deep .... CENTS, numbers, R&D.
    Pick a few to test.
    Loop until you ID a path.
    Go all in.
     
  4. Danny01
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    Danny01 Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Freelancing is the best way to generate income quickly as an entrepreneur. Simply think of your current skills you have which can be rendered to another person as a service. It could be writing, graphics design, SEO, etc. Start offering those services to others and get paid for it.

    Flipping is also a good way of making $1000 in 30 days as a new entrepreneur.
     
    richRich likes this.
  5. Jonathan Hoch
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    Jonathan Hoch Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    How much experience do you have as an accountant?

    Who did/do you serve?

    Can you make a list of common mistakes that are made by (insert experience level)

    Can you expand on the negative consequences of those individuals?

    Are you able to solve those issues with advice?

    Could you package that advice into a book or a small course on teaching simple(to you) concepts to make accountants lives easier?

    “Avoiding being targeted by the mob, the media, and the mafia called ‘IRS’ - the unknown accounting practices to keep your business out of the crosshairs.”
     
    Tanu1234, redplant and Walter Hay like this.
  6. Ecom man
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    Ecom man Platinum Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    Get a push mower. Mow peoples yards at $40-$50 each. 25 yards in a month and you just made your first K as an entrepreneur.
     
  7. Roli
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    Roli Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    From your point of view and making a couple of assumptions:

    I would spend a couple of those days getting some powerpoints together and create an online accountancy course in a particular accounting niche you either know to be, or research as popular, yet is under served.

    Then I would spend another three days joining Facebook small business/book keeping groups. I would also create Upwork, Fivver, and other relevant freelance profiles. On the sixth day I would create an Udemy instructors course and immediately start promoting the hell out of it using my existing bookkeeping site/list and sharing out loads of the instructor coupons in the groups.

    I'd use the freelance profiles to link to the course and just spend the time browsing bookkeeping jobs and giving free advice via the messaging features. If you can't promote the course directly through messaging, then your profile will have to do.

    This would leave you 24 days to make $1000 = $41.66 per day. So a minimum of four courses at $11 per day should do it as any course you sell via the coupon code will net you a 97% revenue share, you will also pick up the slack through people wanting to hire you through the freelance site. All in all you'll need to sell 96 courses in that time, which if you spend the whole time promoting, you should do it. On top of that, Udemy probably like to encourage new tutors, so I'm sure their algorithm will favour you at first.

    This may not serve you moving on, however it is an entrepreneurial way to make $1000 in 30 days.
     
    redplant, fmob007, chuckypita and 4 others like this.
  8. Kid
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    Kid Bronze Contributor Speedway Pass

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    Learn.
     
  9. JByers210
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    JByers210 entrepreneur in the making Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Buy and sell. Once you get the hang of it you can hit 1K+ a month.
     
  10. minivanman
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    minivanman Platinum Contributor Speedway Pass

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    Join buy/sell/trade/garage sale facebook groups. Join at a rate of 5 every 120 minutes. Once you start getting approved, make a post stating you are trying to make money doing book keeping (or what ever you want to do). It doesn't matter if it's against the groups rules.... everyone does it. If they kick you out, who cares? You're only in the group for this reason anyway. Once you are in 400-500+ groups, this should keep you busy for quite awhile. These groups don't need to be local unless you are offering something where you need to meet the person you are working for.

    Just so anyone who reads this later knows, I didn't type the part about joining 5 groups every 120 minutes because I like typing. Go ahead and join 100 groups at once and see what happens. Facebook knows, they are not stupid. I had to find out the hard way and through emails with Facebook and a little tweaking, I figured out the best way to fly under the radar. Also, when you post and ad, set the alarm on your phone and then snooze it. That way you post 1 ad every 9 minutes which again, keeps you from spamming. If you are working at your desk, just paste your ad really quick every time the alarm goes off and then back to what you were doing. Or, just post in about 10 groups at once and do this once or twice a day. My way, I can post in 53 groups in an 8 hour day, posting all at once is no where near that many. I would only do this manually and not use one of those services that will post things for you.

    So you figure..... some groups have 2000 members and some have 20,000 members so we will average at 4000. 53 groups a day is over 200,000 possible people that can see my ad every day. Mind you, every member does not see it unless they go to that group, but you would be surprised. Or even if you just do the quick 10 groups at once, that's 40,000 people that have the opportunity to see your ad. And the best part.... IT'S FREE!!! No boss, no fee's, no rules (unless the group tells you not to post your business).

    Mowing, cleaning, book keeping, wood working, selling jewelry....... what ever you want to do, this is the way to get customers.
     
    Bdenner64, Roz, KLaw and 2 others like this.
  11. 404profound
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    404profound Gold Contributor I've Read UNSCRIPTED Speedway Pass

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    I think in the span of a month is comes down to where your skills meet demand. In six months I could probably make 1,000.00 with ecommerce through following guides / doing market research / etc. One month isnt enough time for a noob to excel in this competitive domain. So for me, I'd go to where I'm already skilled up; technical writing. I loathe it, but I'm good at it. I sold a white paper for $400.00 that took me a week to create last year. Hated the process.
     
  12. vshetty.vs
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    vshetty.vs Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER

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    I think this was intended as a hypothetical question. So assuming you have NO skills, NO friends.

    Here's what I'd do:
    1.contact some business owners, top quality freelancers etc

    2.Ask them if they needed help with anything at all.

    While you're searching for people to help, join groups and forums like this one and look for ways you can makes lives better.

    It's exactly what I did and how I got started.

    Back in June, I was barely making by on upwork and was stuck in a rut. I had been scraping by for a really really long time and all I got were low paying gigs.

    Help my client increase his revenue by $12,700? And they would bargain with me for 2.5 dollars.

    The worst part of that crap was that you couldn't say I don't want to work with you because they would leave a bad rating.

    But my goal was always to start a business, so I was still grinding away and reading blogs on entrepreneurship etc.

    Now on one the blogs I read, the founder spoke about planning to start another business as a side hustle. I figured that if he was going to start another business there's a chance he may need some help with the menial tasks.

    I wanted to see first hand how you built a successful business.

    So I contacted him. Couple of emails and an interview later, he hired as his social media manager. This turned out to be one of my highest paying gigs.

    I made more working with this client in 2 months than I did grinding away on upwork.

    But my rates were fixed at $25/hour. And I knew that this was it. If I wanted to charge higher rates I had to get better at copy.

    Now that I knew this email shizz worked, I contacted one of my favourite copywriters and started working for him in exchange for learning his skills.

    This was in November ( I think). Since then I have started getting other clients and have grown my rates a ton.

    It's not a super crazy salary and I certainly want more. But from barely making by to $8K/ month in less than a year is a big deal for me.

    And honestly not having skills is not a big deal, now that I'm kind of on the other side. The biggest problem I see with hiring some is the unprofessionalism. If you can just be responsive, work hard and on time. You will always have work.
     
    TheCj, Yachef, chuckypita and 10 others like this.
  13. NewManRising
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    NewManRising Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    I would freelance. Learn a skill or use one you have. Taking your accounting for example, you could freelance it by:
    1. Make it cheaper than others
    2. find a USP that will make people choose you

    The thing is, lots of people have skills. The trick is to have a USP and be creative.

    1. Find a marketing channel
    2. Put an offer out there
    3. Assess and adjust
    4. When you land a job, over deliver
     
    Yachef likes this.
  14. jasoncuellar123
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    jasoncuellar123 I’m probably awake. Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Go in the ‘gigs’ section on Craigslist and do everything in the ‘labor’ category.

    Done.
     
    Ninjakid likes this.
  15. The Racing Driver
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    The Racing Driver Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    I agree with your point on creating a USP. That goes a long way in helping you sell services.

    Making it cheaper than others isn't always necessary if the value is better. Just work at making it a no-brainer value proposition, and make sure the economics make sense to hit your goal.

    In 30 days, you have limited time to prospect, close and deliver the work. As a freelancer, you have to account for how much time you'll spend on those tasks. If you're using a paid marketing channel or have any expenses for that matter, then you need to have a sufficient margin.
     
  16. Zoomer3690
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    Zoomer3690 PARKED

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    Hope it's not off-topic, but I feel tempted to ask you a question.

    Did you get your other clients by emailing them too or through UpWork? I've actually lost faith in UpWork's ability to provide consistent, quality work, so I'd be surprised if it's the latter.
     
  17. Sprocket
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    Sprocket Bronze Contributor FASTLANE INSIDER

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    Offer to do a bit of one accounting software training with small businesses (like Sage, quick books etc). There must be a lot that still try to keep their own books and have questions (my folks business is a good example). It can be slow to teach yourself and people want to be sure they’re not making mistakes when it comes to accounts.

    Local business groups on social media would be a good place to target.

    If you didn’t want to go with accountancy you could use the ideas in fastlane, repurpose things, finding items that are uniquely local to you and sell them to other areas etc... there were a few but I can’t grab the book to look just now as I have a 3 year old sleeping on me
     
  18. JM35
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    JM35 Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    You have a small bookkeeping side business. Why can't this be your entrepreneurial venture? You have a background in it, you're presumably good at it, why not turn it from a small side business into a big primary business?
     
  19. CareCPA
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    CareCPA Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    You've been here for 4.5 years...
    upload_2019-2-13_15-47-43.png

    So this seems like a silly question at this point. Presumably you've read the Gold threads? And then the Notable threads?

    With a bookkeeping business, do more bookkeeping. For $1k a month, that's anywhere between 1-10 clients depending on your niche and expertise. What industry do you focus on? Go there and find out their pain points and needs.

    Are you a CPA or an EA? $1k could be one tax return.

    Can you build kick-a$$ spreadsheets? If so, do consulting for companies, bill yourself as an efficiency consultant. Charge $100 an hour.
    Or build awesome spreadsheet tools and sell them. You could do financial statement packages, analysis sheets, etc.

    Become an affiliate for software in the accounting space. Most of them have affiliate payouts. Build content, drive traffic, earn commissions.

    The bigger question is: what are you currently doing to earn $1k in 30 days, and how can you scale that?
     
    NMdad, Tanu1234, richRich and 4 others like this.
  20. Tanu1234
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    Tanu1234 Contributor

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    I assume you already earn -$1000/ month.

    Few options to grow

    Course creation

    Hiring employees and outsource more work

    Sharpen your skill set by learning new in accounting n taxes

    Add related services in your business




    Sent from my iPhone using Tapatalk
     
  21. ProcessPro
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    ProcessPro Bronze Contributor Speedway Pass

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    If you're female, look into becoming an egg donor.
    Sell food.
    Sell your sellable talents.
     
  22. TheCj
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    TheCj Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER

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    Start going for bigger accounting jobs in your side business whatever that might be.
     

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