Making $10,000 a Month as a Student

Introduction

• Discusses the goal of making $10,000/month as a student.
• Highlights the prevalence of misinformation online regarding making money.
• Promises to break down three main components to achieve this goal.
• Links to a more comprehensive video for further learning.

Component 1: Right Vehicle

• Importance: Need a substantial but not overly risky opportunity.
• Example: Speaker started making significant money at age 17 but emphasizes this is rare.
• Advice: Avoid trading: High risk and difficult to achieve consistent profits.
• Preferred Method: Starting a lean online business with a small investment.
• Profitability: Focus on businesses that generate free cash flow.

Example: E-commerce vs. Service-Based Business

• E-commerce Business: Can be profitable but often requires reinvesting profits.
  • Example: Speaker’s eyewear company (1.2-1.5 million/year, 50% margins).
• Service-Based Business: Generally better cash flow and less reinvestment needed.
  • Activities could include building marketing funnels, creating short-form content, managing Google ads, etc.
  • Leverage other people's work for scalability—e.g., hiring remote workers.

Component 2: Extended Timeline

• Expectations: Building wealth slowly; setting realistic timelines (years, not months).
• Comparison: Highlights previous norms and the impact of social media on current expectations.
• Personal Journey: Speaker's journey from 2014 to 2017 to hit $10K/month.
• Modern Opportunities: Today's technology and platforms offer more opportunities than in the past.
• Encouragement: Emphasizes persistence and managing expectations.

Sustained Growth

• Business Growth: Starts slow but eventually scales rapidly after flatline periods.
• Realistic Milestones: $1,200 online is a significant achievement; focus on gradual growth.
• Plan for Ups and Downs: Understand that growth cycles include both peaks and troughs.

Component 3: Maintaining Income

• Longevity: Making $10K/month is relatively easier than maintaining it.
• Wealth Management: Learn to keep and multiply wealth over time; study old money principles.
• Financial Baseline: Establish $10K/month as a financial baseline and identity.
  • Speaker's baseline journey from $1K to $100K/month to $1M/month.
  • Focus on cementing your financial identity and building from there.

Conclusion

• Final Advice: After reaching $10K/month, consider it a starting point, not the end.
• Encouragement: Motivational statement for the audience to persevere.

Additional Resources

• Link to a more detailed video covering 7-8 popular online business models.