The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

What Are Some Examples of High Income Skills?

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

malphax5

New Contributor
Feb 16, 2018
12
14
14
30
USA
First off, according to Dan Lok, a high income skills is any skill that helps you generate $10K a month or at least $100,000 a year. I know for sure that it can be any skills like coaching, copywriting, and public speaking. As long as those gets you the amount stated above.

I just want to know what other high income skills out there from common to uncommon and please share your thoughts on it.
 

Don't like ads? Remove them while supporting the forum. Subscribe.

shubham525

Bronze Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
Jul 16, 2015
267
195
113
25
India
First off, according to Dan Lok, a high income skills is any skill that helps you generate $10K a month or at least $100,000 a year. I know for sure that it can be any skills like coaching, copywriting, and public speaking. As long as those gets you the amount stated above.

I just want to know what other high income skills out there from common to uncommon and please share your thoughts on it.
Influencer

Doctor

Lawyer

Maketing

All of these have potential if done right.
 

Arun Siva

aspiring 大君 of the bourgeoisie
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Aug 31, 2016
1,193
1,992
568
NORD-TRONDELAG

Raoul Duke

Per aspera ad astra
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Feb 26, 2016
1,450
5,181
1,285
Are you willing to do this?


"The past is consumed in the present and the present is living only because it brings forth the future." James Joyce​
 

Don't like ads? Remove them while supporting the forum. Subscribe.

GoGetter24

Gold Contributor
Speedway Pass
Oct 8, 2017
571
1,118
365
Various
Consulting.

If you're a "go to guy" on some topic, the rates you can charge are obscene. It's a basic leverage thing: a company taking up some project worth $5M if it succeeds and -$5M if it fails has no problem paying $500/hour for a week with an expert consultant if it could mean the difference. $20k is chump change at that level.

If it's in demand, there is some guy raking insane cash on it because he's gotten know as the "go to guy" in that thing. Doesn't matter what it is. Doesn't have to be the cliches you hear everywhere on the internet, like sales or "closing" as they've douche-bagged it.

Aside from that and the usual internet & tech stuff, there's everything from pilots, teachers, trainers, translators, chefs. But they, and that Dan Lok guy, all have one thing in common: penetrating the top-end. In his case, by succesfully marketing himself as "the best" copywriter out there, even though he's from HK and still makes grammar mistakes when he talks.

There's translators making $10/hour, and translators making $100/hour. The difference is positioning, specialization, self-marketing, reputation & referrals, and so on, and skill. One translator may slowly work through general stuff, putting his services up on fiverr and getting paid a pittance. Another one can blast out a perfect translation in a particular in-demand market niche, and has to keep upping his rates as his time is outstripped by eager clients.

Or to put the answer more succinctly: "if you get the answer on which skill niche to pursue from a website, it's wrong". It takes much more work than that.
 

Scot

Salad Dressing Empire
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 10, 2016
2,926
13,499
2,796
Florida

Arun Siva

aspiring 大君 of the bourgeoisie
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Aug 31, 2016
1,193
1,992
568
NORD-TRONDELAG

biophase

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 25, 2007
6,894
31,664
5,083
Scottsdale, AZ
This thread makes no sense at all.

Many skills can be high income skills. It’s not about the skill, it’s about you.

Sales can be high or low income. Can you sell $1M/yr SAAS or $30k cars. Same skill, different levels of skill.

Same can be said for being a lawyer, doctor, programmer, etc... Are you an average one or a top 5% one? One makes $100k and another makes $1M.
 

Process

Bronze Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jul 19, 2017
202
449
216
Solving Pain
hmm...interesting. Could you tell me more about what it is?
> prospecting:

Get out in front of the relevant people by any of the below:
-referrals
-direct response(online (ppc(FB, adwords, bing), ppv(crappier popups usaully, cpm(display ads on certain sites for a set amount of views per thousand), magazine, radio, direct mail)
-craigslist/classifieds
-social media
-cold calling (door to door or over the phone)
-trade shows

> closing:

-having done decent qualifying of prospect
-coming off as person of integrity who isn't a Jordan Belfort wannabe.
-already having demonstrated proof of claims.
-noticing when to shut up and lead them to the dotted line/online shopping cart.

If you do your prospecting and presentation well, a hard bullying type of close actually tends to be counterproductive in most industries. As far as the "master closer" phrases go, don't get too tied up in them.

Some people literally just say, "That about sums things up, let's do this then." Of course there are more polished ways to do it, but don't worry about it at this stage. Your actions will sell more than your words.

PS: Screw 95% of what you read in books. What someone is writing vs. how things work will only become clear when you have tried things for yourself. That's why TMFL and Unscripted talks about the process so much.
 
Last edited:

The-J

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Aug 28, 2011
3,523
8,180
1,966
Ontario
Lol I just watched that video earlier today.

Learn from Dan Lok. Study the stories he tells and the way he speaks. Study how he structures his funnels.

Effective applications of the techniques he uses on people is an example of a high income skill, one that people will gladly pay you $100/hr for.

Those same applications can be used to scale a business.
 

Adeoluwa Adejumo

New Contributor
Oct 31, 2017
15
4
14
Consulting.

If you're a "go to guy" on some topic, the rates you can charge are obscene. It's a basic leverage thing: a company taking up some project worth $5M if it succeeds and -$5M if it fails has no problem paying $500/hour for a week with an expert consultant if it could mean the difference. $20k is chump change at that level.

If it's in demand, there is some guy raking insane cash on it because he's gotten know as the "go to guy" in that thing. Doesn't matter what it is. Doesn't have to be the cliches you hear everywhere on the internet, like sales or "closing" as they've douche-bagged it.

Aside from that and the usual internet & tech stuff, there's everything from pilots, teachers, trainers, translators, chefs. But they, and that Dan Lok guy, all have one thing in common: penetrating the top-end. In his case, by succesfully marketing himself as "the best" copywriter out there, even though he's from HK and still makes grammar mistakes when he talks.

There's translators making $10/hour, and translators making $100/hour. The difference is positioning, specialization, self-marketing, reputation & referrals, and so on, and skill. One translator may slowly work through general stuff, putting his services up on fiverr and getting paid a pittance. Another one can blast out a perfect translation in a particular in-demand market niche, and has to keep upping his rates as his time is outstripped by eager clients.

Or to put the answer more succinctly: "if you get the answer on which skill niche to pursue from a website, it's wrong". It takes much more work than that.
F*cking awesome i get tired from hearing sales all the goddamn time...if you just wanna make a quickbuck then sure its the best
 

Don't like ads? Remove them while supporting the forum. Subscribe.

Adeoluwa Adejumo

New Contributor
Oct 31, 2017
15
4
14
This thread makes no sense at all.

Many skills can be high income skills. It’s not about the skill, it’s about you.

Sales can be high or low income. Can you sell $1M/yr SAAS or $30k cars. Same skill, different levels of skill.

Same can be said for being a lawyer, doctor, programmer, etc... Are you an average one or a top 5% one? One makes $100k and another makes $1M.
I wanted to go as far as say something as intangible as thinking big

  • strategy/partnerships/JV
  • networking
  • hiring / motivating employees
  • raising funds
  • marketing
  • technology

basically all those things are departments in a fortune 500
 
Last edited:

LittleWolfie

Silver Contributor
Speedway Pass
Jun 28, 2018
963
506
195
Holbeach Hurn
Yeees....the only difficulty is to find this gold nuggets :D
Pay people to source them, then. I think you can buy in most skills. :)

Now, I know there are those who look at property sourcing (find below market value distressed property) sell to people who are cash-rich flippers of distress properties.

There are also companies in Administration and Liquidation which I imagine could be gold mines, if you knew how to improve them. I seem to recall reading something about (I think Richard Branson) buying a company for £1 (plus a portion of the debt liabilities) and turning it round. Since the creditors had much more faith in his ability to pay and turn around the company.

Knowing some corporate debt collectors, I have some second hand connections to 'distressed' companies.

The difficult part is, finding people who want to buy them and have their cheque book in hand.

From my whatsapp chats I understand there are a lot of offers of virtual mergers and gradual buyouts/ owner equity deals, but very few cash (Or cash equiv) offers. When the wolves are at the door, they need a free cash deal (even at a lower valuation (or £1 for the lot) to starve things off.

Especially as they may well be on the hook personally (director's guarantee is on practically all UK loans) for the debt. They might be worried about losing their house.
 

garyfritz

Silver Contributor
Read Millionaire Fastlane
Summit Attendee
Jul 16, 2011
662
684
297
Colorado
If you have strong technical ability AND strong communication skills, there are good opportunities in technical training. I make $1000/day teaching classes on high-tech high-dollar computer systems. It would be a perfect setup except I don't have much Control. I have to work through a company that owns the IP and runs the classes, and take the classes they give me. If I could work 200+ days a year I'd be very happy with it. Even as it is, it's a damn nice setup. It's not Fastlane but it's a good gig.
 

100k

Gold Contributor
Read Millionaire Fastlane
Speedway Pass
Oct 20, 2012
1,220
1,565
516
If you have strong technical ability AND strong communication skills, there are good opportunities in technical training. I make $1000/day teaching classes on high-tech high-dollar computer systems. It would be a perfect setup except I don't have much Control. I have to work through a company that owns the IP and runs the classes, and take the classes they give me. If I could work 200+ days a year I'd be very happy with it. Even as it is, it's a damn nice setup. It's not Fastlane but it's a good gig.
Save up some money.... like $30k.... then hire a digital agency that knows how to build proper converting funnels.

I believe you could record one of your classes (you could do it outside the company's facilities in a recording studio) and sell it as a online class that people can watch from home at their own convenience (instead of it being live). The digital agency would turn your recording into a product (webinar), set up a funnel for you, create ad campaigns.... then run ads for you via FB ads .... let's say you sell the course for $100/pop. You'd only need 10 seats per day sold to make the $1000 (of course you need to think about cost of ads - so maybe go for 20 seats per day and try to spend no more than $20-30 to get one of those seats sold).

Boom, you've got more control now. You own the domain, you own the webinar/video/digital product. And you have the power to fire the agency and have someone else run the ads for you.

Do some research on youtube ... I'm sure you'll be able to find some useful info on webinar sales funnels.

Local Facebook Advertising Case Study

Build The Perfect Conversion Funnel | Three Types of Conversion Funnels

How to Build Real Relationships with Automated Campaigns | Traffic Temperature
 
Last edited:

broswoodwork

Gold Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Oct 16, 2015
807
2,405
556
Every other skill listed in this thread hinges on this skill before it's worth a penny.

A phenom software architect, that builds his own os, can be living in mom's basement; a mediocre web dev, with a stolen idea, can create a global empire by selling himself and his system.

Edit: My first rep plus. Thanks Scot! I'll pay it forward.
 
Last edited:

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.

Sponsored Offers

  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Just Enrolled to "Start a Freelance Business: Take back your freedom Now" Thanks! @Lex...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Welcome to 2020, I wanted to add in a quick note about gratitude for the new year...


Don't like ads? Remove them while supporting the forum. Subscribe to become an INSIDER.

The 2020 Fastlane Summit

This event SOLD OUT in October. For authorized resale tickets, please check ticket resales or contact the forum directly.

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom