How to Make a $1000 Dollars a Month Business?

A Step By Step Guide to Find & Validate Your Profitable Business Ideas and Make A Full

Time Living

Table of Contents 1. Acknowledgements 2. The Most Important Lesson you will ever Learn 3. Why you should start working on Business Idea ASAP? 4. Where you can utilize $1000/Month Extra Income? 5. 3-Step formula to Get Your First Idea Up and Running 6. Generate Ideas

6.1. How to come up with Ideas? 6.2. Think About the Services and not Skills 6.3. How to get New Ideas all the Time? 6.4. How to get in Touch with them?

7. Why you need to Validate the Ideas? 8. Validate Ideas

8.1. Validating Digital Products 8.2. Validating Physical Products 8.3. Validate Services

9. Next Important Thing after Validating Ideas 10. Narrow Down your Ideas 11. How to Sell without being a Salesperson? 12. Most Advice about Selling is Terrible 13. How to Reach your Potential Client? 14. 4 Different Methods

14.1. Direct Approach Method 14.2. The Middleman 14.3. Free Trial System 14.4. Barter System

15. Get into Hustle Mode 16. What if things are not working out? 17. Recommended Reading and Resources

1. Acknowledgements This book is dedicated to the Marketing excellence of Jay Abraham, Rich Schefren, Perry Marshall, Ryan Deiss, Tim Ferriss & Noah Kogan.

2. The Most Important Lesson You will ever Learn

The goal of this book is not to find out some innovative ideas and build million dollar empire upon it but the main aim of writing this book is to help you come up with ideas at lightening fast speed, validate & test them in real market to see if they stand the test of time and then start generating income from them ASAP. This is not a get rich quick system which you can learn and apply and start making money the very next day. It’s the opposite, it will help you to narrow down your ideas so that you choose the most lucrative and profitable business idea instead of wasting time on something which might work. The most important lesson you should keep in mind is to fail fast and fail quickly.Don't ever run out of cash. Important fundamentals before entering in market, first test and validate. If your market is not easily & cost effectively reachable through Social Media, Google Ads, Endorsed mailings, Trade shows, Publications (so you can see ROI within a day/week/month) forget about your idea. Go do something else. There are literally plenty of ideas you can test.

3. Why you should start working on Business Idea ASAP?

There are plenty of reasons why you should working on your first business idea ASAP.

1. It protects you in the case if you lose the job, your income is diversified. 2. It gives you option to run your business one day and helps you take a leap of faith one day to quit your day job. 3. It also equips you with necessary skills to run the business, face challenges. 4. You can do it as long as you want it and you can even scale it up. 5. You can even start working on multiple ideas at once to create multiple sources of income.

4. Where you can Utilize $1000/Month Extra Income?

1. Pay off credit card debt 2. Quit the job and do what you love 3. Save & invest extra money 4. Paying off mortgage 5. Launch other ventures

5. 3-Step Formula to Get Your First Idea Up and Running

First step is 1. Find a good idea Don't get fixated to one idea; we have to check a lot of ideas first to make sure people pay for it. Without paying customers you don't have a business, you only have a hobby. So you need second step 2. Validate your idea It helps you to save a lot of time, energy and upfront work. The third step is 3. Make the First Sale. Once you have your idea validated, use time tested methods to reach your clients fast. What most people do? Take the first business idea and run. Look for work everywhere and anywhere. Try new marketing tactic everyday with no sense of direction. They either give up completely or hop from one idea to another until they find working idea or quit altogether. What you should do? Organize all ideas first. Evaluate your list to choose the best idea. Take the time upfront to validate and refine your idea before looking for work. When ready, start targeted client outreach. Start scaling up.

6. Generate Ideas

This is the first step of the Puzzle. I am going to give you tons of ways to generate ideas, how to constantly come up with new ideas, how to keep in touch with those who always work on new ideas.

6.1. How to come up with Ideas?

Your ideas will come from these 5 things. 1. Your skills 2. Your hobbies 3. Your education/past experiences 4. Websites you visit regularly 5. Tools and applications you use 6. Subjects of non-fiction books you have read

6.2. Think about the Services and not Skills

Think about services and not skills. Don't think in terms of quality, skills but in terms of services. 1. Your skills 2. Your hobbies 3. Your education/past experiences 4. Websites you visit regularly 5. Tools and applications you use 6. Subjects of non-fiction books you have read

1. Skills : Photoshop, Photo-Editing, Creating Covers for books 2. Hobbies : Gym Exercising, Personal Trainer 3. Education/Past experience : Website Designing, Freelance

Website Designer 4. Website you visit regularly : Zenhabits, Personal

Productivity 5. Tools & Applications you use : Evernote, Gathering and

Organizing Relevant Data for Future Reference 6. Subjects of non-fiction books you have read : Energy

Healing, Helping others to get rid of their body pain or emotional pain

6.3. How to get New Ideas all the Time?

Two easiest ways to do this 1. Read interesting things 2. Talk to smart and interesting people

Set aside atleast 30 minutes a week to read something you find interesting about business, marketing and earning money. Each week, get in touch with someone who is making money in interesting way.

6.4. How to get in Touch with them?

There is a specific way you can get in touch with those who are making money in an interesting way. It might seem like a daunting thought that why these people would want to talk to you but there is a way out to reach these people out. Here is an email, you can use to setup a phone appointment with them or request those answers to your questions through email. Hi John, Greetings from a fellow blogger in weight loss market (state the common thread) I was doing some research on different diets people try to lose their weight without exercising much (state how did you find them) on the Internet and I stumbled across your blog. I’m planning to launch a new diet program for my readers and would love to ask you 3-5 questions about your experience with the same. Would you be available for a quick chat by phone or over coffee this Thursday at 10am? I’m also free any time Saturday. If email is convenient, I’d be happy to send you my questions. Sincerely, Jane Doe Now once you secure the meeting, make sure you do the following.

1. Take successful people to lunch. 2. Pick their brain. 3. Spend 90% time talking about them. 4. Ask them what mistakes they made. 5. 10% time, you can talk about your idea.

7. Why you need to Validate the Ideas?

This is the critical step everyone misses. Make sure your idea is winner before you start going deep. Most people don't do research on their field, industry or target market. Do your homework before seeking your clients, so you know field before trying to play. Talk to experts who have already been there and whose insights can save you weeks or months of wasted effort. Idea is not secret sauce, validation process is. Pay certainty test: A technique that will let you eliminate half of your ideas in less than 15 minutes before you even spend time in developing them. Use it along with 5 Power Disqualifiers. Idea: Who would pay Tax Planner: Those who want to plan their investments, pay less in taxes while earning more. (Most Employees who earn beyond Tax Threshold) Facebook Ad Consultant: Those who want to increase their online revenue by leveraging power of facebook. ( Online Business Owners) Gym Instructor: Those who want to have their bodies in shape and want to lose their weight.(Fitness freaks & Fat people) Now ask yourself these Questions.

1. Is my prospect willing and able to pay me for this service? 2. Do they have money and do they want to spend it on my

service? (The Demand Question) 3. Am I willing and able to provide this service to my prospect? 4. Am I knowledgeable enough to provide this service? (The

Supply

5. Question) (Perry Marshall Questionnaire Formula for Rapid fire Market Testing) Five Power Disqualifiers)

1. Do they have the money? Some markets consist of people who have no money. Sometimes the very market itself is defined as a herd of moneyless people. It doesn’t mean you can’t make a buck selling rent-to-own furniture, but know ahead of time there’s going to be a big “X factor” in getting blood out of the stones. People who do have the money are way easier to sell to. If you never get paid, you don’t have a business — you have a hobby. 2. Do they have a bleeding neck? A bleeding neck is a dire sense of urgency. If you want to make the big bucks, your product/service has to deal with something that involves one or both of the following:

(a) Pain and suffering, and / or (b) some craving for pleasure that borders on the irrational.

(b) Big pain, big pleasure. Stuff that hits really close to the jugular. Serious money is always found in those places. If you want the check tomorrow, the problem today needs to be u-r-g-e-n-t.

And: before you ease the pain, you got to intensify it. The guy says to you, “It hurts really bad, right here.” You point to his elbow and say “You mean here?” and you smash his elbow with a hammer, real hard. He yelps and sees stars for a moment. He nods and takes a big gulp, choking back tears. Good market for you to go into. What’s the biggest, nastiest problem you’ve ever solved in your life? That’s a real good start, right there.

3. Do they buy into your Unique Selling Proposition? If you’re just going into a market, the question is, what Big Benefit will they buy into? What kind of deal would they snatch up in a hot second? What benefit do they want that the other guys are not promising? A Unique Selling Proposition (USP) is your unique answer to these questions: 1. What does your product do that nobody else’s product does? 2. Why should I buy from you instead of anybody else? 3. What guarantee can you make that nobody else can make? Your Unique Selling Proposition is hugely important and know that one of your most important jobs as a sales person or marketer is to not only know the answers to these questions, but constantly improve the USP of whatever you sell. 4. Do they have the ability to say YES? If your market is guarded by Receptionist, Virtual Assistants, then you have got a big problem because although they have bleeding neck, they just can’t say “YES” because they are shielded by their assistant or receptionist. They have ability to say “YES” but their receptionist doesn’t. Make sure you have money and ability to reach directly to your market without having to face such guards. 5) Does what you sell fit in with their overall plans? If your service requires major brain surgery on the part of the customer, he ain’t gonna take your offer unless brain surgery is literally a lot less painful than the alternative. Whatever you sell needs to harmonize with natural, existing forces – both on the inside and outside of your prospect’s world. Sales is, first and foremost, a disqualification process, not a ‘convincing people’ process.

Step past the sick and the lame early in the game, and only deal with the healthy ones left standing. You will save yourself so much time when you accept this! The Five Power Disqualifiers are exhibit “A” of 80/20 thinking. In fact each one typically gets rid of the bottom 80% of whomever you’re dealing with. When you’re honest with yourself about all five of these things, you’re automatically dealing with the tippy-top of the pyramid – less than 1%. Test fast. Fail fast. Move on. Next, next, next. The “Pay Certainty” Test lets you rapidly eliminate bad ideas that would have never earned you a cent, and focus on the most promising ideas ones that will almost certainly earn you significant amounts of money on the side. If your goal is to earn money, I recommend you avoid doing work targeted at non-profits, undergraduate students, bootstrapping startups, teenagers, people going through bankruptcy or any other group that has little to no extra spending money.

8. Validate Ideas

Validation is the most important step. Infact, it’s the most important step. Most people miss this step, after generating ideas, people jump from first step to directly third step (making the sale) and that’s why most of them fail. Unless you test the market for your ideas, you don’t have a stable and long lasting business.

8.1. Validating Digital Products

If there is a ZERO competition, then people probably don't want what you are selling. Let's say, if you want to learn how to publish a book on Kindle Let's start with a couple of sites 1. Amazon 2. Udemy 3. Google Keyword Tool 4. Google Trends 5. Skillshare Create a quick landing page and email signup form. Drive targeted traffic towards landing page and check response. Figure out what exactly are you offering.

Price + Benefit+ Time For $49, I will teach you how to write, publish kindle books in competitive markets and still rank for the competitive keyword. Go to communities like Forums, Facebook Groups, Reddit & test the waters by posting one hack or one trick or one article.

8.2. Validating Physical Products

Check out product ratings on Amazon. Scan the comments and see what people like about it and what people don't like about it. It's also an insight for new products. Use Google Keyword Tool is a viable way to get customer for each. You can also use Facebook custom audience, upload it and test few ads, check CTR (Click Through Ratio) How to Get your first 3 customers? Use Adwords or Facebook. If you are selling a product where you can target local audience through local targeted advertising, then go ahead and do that. Do what works for your Product. After you get them, improve your campaign, find more keywords, improve your offer, improve your website, improve your copywriting. Tools

1. Google Market Finder 2. Google Keyword Tool 3. Alibaba 4. Shopify 5. BigCommerce 6. Fiverr 7. Definitive Guide to Google Advertising Perry Marshall 8. FB Ad Triad Ben Adkins 9. Copywriting Handbook Bob Bly

8.3. Validate Services

Search your keywords on these sites 1. Craiglist 2. Google Keyword Tool 3. Google Trends 4. Skillshare 5. LinkedIn For your first customer, you have to give some value in return before you ask for money. e.g. Free Lesson Free Consultation

1. Use Facebook and LinkedIn to find out interested people in service.Use Facebook custom Audience.

2. Attend Meetups/Local BNI chapters to find targeted prospects.

3. Approach people who could use your service directly via

phone/email/in person.

9. Next Important Thing after Validating Ideas

You must be willing to provide the service. This is probably the easiest question to answer, and can be rephrased as: Would you enjoy doing this? If you think you might, that’s often good enough. If you’re not quite sure, just go for it. One thing people don’t realize is that one of the quickest ways to enjoy something is to win at it — so if you start earning thousands/month doing something, you’ll probably like it a lot. You must be able to provide the service. This part throws a lot of people off, because we tend to second guess ourselves. After all, we think, I’m decent but I’m not really an expert. Aren’t there a bunch of “real” experts out there who can do this way better than me? Answer: Yes, but it doesn’t really matter. The truth is, there’s always going to be someone more skilled than you. Don’t worry about it – what matters is that you can deliver to your clients the value you promise them, not that you meet some arbitrary measure of expertise. That said, you do need at least a basic level of competence before you start selling your service. Try to figure out what that minimum baseline is before deciding whether or to move forward with an idea. The nice thing is, just because you’re not able to provide a service today, doesn’t mean you won’t be some time in the near future.

10. Narrow Down your Ideas

First do gut check to eliminate bad ideas quickly. Talk to real experts to validate their ideas. Come up with alteast 3-5 potentially profitable ideas. Pick one idea you think is best. If none of your ideas passed, try being a little more flexible, especially on the supply side (i.e., which idea you would be able and willing to provide a service for). You’re going to do this by talking to 20 qualified experts on the subject. Start with 3. These experts can be either people who would buy the service (prospects) or people who provide it (service providers) By talking to just a few experts, you’ll get a much clearer view of the big picture and you’ll see what you’ve been missing. A conversation like this can seriously be the difference between thousands earned or lost.

11. How to Sell without being a Salesperson?

There is a specific way to ask questions and get great answers. It's called "Ask Without Selling technique". When you ask someone questions without selling, you are there with a 100% focus on understanding their needs.

1. What keeps them up at night? 2. What are their top 3 challenges? 3. If they could have a magic solution, what would it look like?

Questions to ask prospects · Have you ever paid for something like this? · What’s your typical budget for these types of projects? · How high of a priority is this to you? · What factors are the most / least important to you when deciding who to hire? · What has been your biggest frustration with service providers in the past? Questions to ask providers · What types of clients tend to be most receptive to this idea? · How and where can I get in touch with prospects? · What’s a reasonable rate to charge a client for someone at my skill level? · Here’s my plan. Would you do anything differently if you were me? · I’m new to this. What would be the most effective way to learn this skill on my own time? You don’t need to prepare a laundry list of questions. Do your homework, show real interest, and most people would be more than happy to tell you everything you need to know.

12. Most Advice about Selling is Terrible

Most advice about selling is terrible. What most people recommend

1. Do cool things 2. Tweet a lot 3. Participate in conversation 4. Be active on Forums

Instead, I recommend being as direct as possible, especially if you’re just starting out. That means finding prospects and pitching them with the intent to sell. What most people do? Haphazard mix of 101 promotional strategies, attending conferences, writing press releases, creating business cards, flyers. Use 1 or 2 methods to reach out directly to your targeted prospects. Observe what works best and improve it.

13. How to Reach your Potential Client?

There are several methods to reach your client. Use whatever is working for you. You can also use combinations of the some methods. Be open to try approach which suits whatever you want to sell. Don't stick to one thing if it's not working for you even if it's as fancy as running FB ads.

14. 4 Different Methods

There are 4 main methods to reach the client. · The Direct Approach Method · The Middleman (JV/Indirect Competitor) · The Free Trial (Value Based Selling) · The Barter System (Exchange of Goods/Services)

14.1. Direct Approach Method

The direct approach method is the simplest method of all: Reach out to the people you want to work for and pitch them your service directly. Where can you find prospects? It depends on your target audience, but you can find almost any type of person or business that you’re looking for online: Technorati for blogs Inc.for startups Google for everything else Make a short list of prospects and email them with your offer. You’re not asking them to buy – just if they’d be interested in hearing more (over the phone, in a meeting, etc.). Remember, your goal is to reduce risk. The beauty in the direct approach model is in its simplicity. For example, if you email 20 prospects and none of them get back to you, you know the solution isn’t more blog widgets or a nicer-looking logo. It’s that you need to experiment with changing your service, your target market, or your email copy to improve what isn’t working. On the other hand, if 5 out of 20 prospects respond positively, you’re probably on the right track. Follow up with them, pitch them your offer in person or on the phone and get them to start paying you. How much you should charge? The short answer is you should charge your clients as much as you can. The practical answer is that it doesn’t really matter, because no matter what you charge your first client, your goal should be to raise

your rates as quickly and aggressively as possible. There are a couple ways to do that: · Start by charging a standard rate, then raise them 20-50% every year as you get better at what you do. · Increase your rates 50-100% for every new client referred to you. Do this until people start saying no, then backtrack until you find the sweet spot. · Take as many clients on as possible then gradually raise your rates until everyone drops off except your most loyal and highest-paying clients.

14.2. The Middleman

One of the hardest things about being a new freelancer isn’t just selling to clients – it’s locating them in the first place. You can have an easier time with both if you use a middleman. Now middleman is someone who has access to your potential customers. It can be someone potential JV Partner or Indirect Competitor. Both of them have access to your potential customers. Here’s how to do it: Identify who your end clients are. Then identify businesses that are already selling to them that are complementary to, but not directly competitive with your own. Now pitch your services to the middleman, rather than going direct to the end client. Think about it. It works really well because there is a trust factor when you are recommended by someone they trust. These middleman businesses already spent time and money acquiring a bunch of clients – the same clients you want. Give the middleman a reason to hire you and you’ll get access to the clients. You may need to tweak the offer or try a couple of different middlemen until you find an arrangement that works best. Either way, remember that these middlemen are now technically your clients – so make to give them what they want – it will make hiring you that much easier. Whenever you’re trying to reach a target market, think about who else already has access to that market. Then come up with ways you can reach out to those middlemen and help their businesses.

14.3. Free Trial System

FREE is a Dirty word to many experienced players. Some say, you should never ever work for free. The reason behind this argument is a bad client might screw you. But there are plenty of legitimate ways businesses use FREE, such as: · A marketer who takes FREE webinar every week teaching other fellow bloggers how to generate leads through their websites · A software product with free 30-day trial. · A food stand that gives away free samples. · A blogs with hundreds of free articles, plus free personalized advice given in the comments. But if you offer FREE service carefully, it can be a great way to get your business up and running fast. To avoid trouble, approach free work with these 2 warning signs: 1. Only offer it to people you approach. If someone approaches you and asks you to work for free, you should turn them down. 2. Always ask for something in return. That can be referrals, mentorship or a promise to start paying after a week if they’re satisfied with the work. Compensation can take many forms, so think about what’s most valuable to you. Remember that you’re trying to reduce risk for your clients as much as possible and often the biggest risk for clients is financial risk – they don’t want to spend money on someone who’s not proven. Reduce or eliminate that barrier, and the offer becomes much easier to accept.

14.4. Barter System

Bartering is such an old-school system of exchange that it’s easy to forget we still use it all the time. You can apply this to your freelancing business as long as you know: · What you have that others want · What others have that you want

15. Get into Hustle Mode

Get out there and start selling. Each week, make a list of at least 5-10 prospects and reach out to all of them. You can batch this and do it all in an hour or less. Email is the quickest method of outreach, but don’t limit yourself to that if you have other ideas. Test everything. Try different models (direct, free, middleman, barter etc.), headlines and email copy. Keep what works and improve what doesn’t. When in doubt, always be asking yourself: How can I improve this offer and make it the easiest decision for my client?

16. What if things are not working out?

If things aren’t going so well and you’re getting stuck, take a step backwards and revisit your earlier assumptions.

1. Are you targeting the right people? 2. Are you offering them something they want to buy? 3. Are you making it easy to say “yes?” 4. If you are really stuck, you can always go talk to your real-world

experts (the ones you did the “Pay Certainty” & 5 Power Disqualifiers) and get more feedback.

17. Recommended Reading and Resources

Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers http://www.amazon.com/Business-Model-Generation-Visionaries-Challengers-ebook/dp/B00BD6RFFS/ 80/20 Sales and Marketing: The Definitive Guide to Working Less and Making More http://www.amazon.com/80-20-Sales-Marketing-Definitive-ebook/dp/B00CGNRVHE Getting Everything You Can Out of All You've Got: 21 Ways You Can Out-Think, Out-Perform, and Out-Earn the Competition http://www.amazon.com/Getting-Everything-You-Can-Youve/dp/0312284543