$1000 a day would be a life-changing amount of money for most people. I know it most certainly was for me.
That’s more than enough money to take care of yourself and your family, pay off a house and car, live at a high standard almost anywhere in the world and have some money left to save towards your retirement.
In other words… complete financial and time freedom.
If you’re reading this and you think it’s not possible to make $1000 a day online, keep reading. It most certainly is possible and this article will give you a roadmap on how to get there.
Is it easy to achieve? No, it will take work and effort and it will most definitely not happen overnight.
But it’s not as out of reach as you may think (coming from a guy who’s done it).
If you follow the roadmap in this article and take massive action, it’s possible that you could be well on your way to earning as much as $1000 a day in profit within the next 12 months.
To keep it simple, I’ve broken the process down into 3 phases.
Phase 1: Product Strategy
To make any amount of money, you need to sell a product or service that other people are willing to trade their money for that has more value to them than the money they’re paying for it. That’s the first step.
There are many different products or services you could sell and many strategies you could follow to sell them.
There’s physical products (e-commerce), physical services (e.g. carpet cleaning), there’s digital services (e.g. a digital marketing agency) and there’s digital products such as online courses. You can either own these and sell them yourself, or you can be an affiliate for someone else who owns these products or services and get paid a commission for every sale you refer (this is known as affiliate marketing). These all have pros and cons but ultimately, in my opinion, selling digital products that you own is the most efficient and most profitable way to get to $1000 per day.
The reason why digital products are so efficient and profitable are as follows:
A digital product is something that you create ONCE and then you can sell it for years to come with zero additional effort. This is unlike anything else. If you sell physical products, every time you make a sale you need to purchase or manufacture the product and have it shipped to your customer.
If you have a digital service such as a marketing agency, every time you get a client or get paid, you need to fullfill the service. With your digital product, once it’s created, every time you make a sale the new customer automatically gets sent a digital copy of your product at no cost or effort to you.
Depending on what you’re selling, the only thing you may have to deliver on is support or additional coaching in your group (this isn’t mandatory and depends on the model you choose). You could literally sell millions of dollars worth of your digital product for the same amount of effort to sell it to a single person.
A digital product is incredibly profitable because it has no overheads.. Again, once it’s created, your digital product costs virtually nothing to replicate it thousands of times (the only costs might be some basic tools and web-hosting).
There is no shipping, storage, breakage, theft or expiration with a digital product. And if someone organically finds your sales page and purchases your digital product, it’s 100% profit.
What Is A Digital Product?
A digital product is usually one of 4 things: an online course, an ebook, a premium newsletter or a private membership/community and although they come in different formats, the common denominator is that they’re all educational or informational products designed to help someone solve a problem or learn a skill.
Digital products are known by another name too: “e-Learning”. This is quite literally closing in on being a $325B per year industry as this Forbes.com article shows (especially since 2020 has forced many to work and learn from home, making it even more likely that the e-Learning industry will continue to boom).
Digital products (depending on the type, niche and level of content/coaching) can be sold for anywhere between $7-$99 for an ebook, $99-$2000 for an online course and upwards of $2000 if there is more coaching involved. For convenience sake we’ll use an online course that is priced at $1000 because that way you only need to make one sale per day to make $1000 per day.
Creating a digital product like an online course is now easier than ever before. All you need is your computer, a smartphone and an idea to get started. No need for offices, employees or even a registered company. You don’t need to be techy, know anything about coding, design or even about online business. There’s push-button softwares available that allow you to build professional websites in a drag-and-drop manner that are super easy to use.
Don’t worry right now if you’re wondering what to create a course about that people would pay you any amount of money for (let alone $1000). We’ll cover that later in this article.
Phase 2: Market Research
Online course creators worldwide are making hundreds of millions of dollars per year in almost all niches you can imagine. It’s an enormous industry as I’ve already shared, and it’s SO easy to create your own course and take a share of this very tasty and lucrative “elearning” pie.
There’s people who have created six and seven figure courses around topics like woodworking plans, chicken coop designs, old battery reconditioning, weight loss, bulking up, strength training, green energy, learning magic, learning to play an instrument, learning a new language, search engine optimization, social media strategies, forex trading, cryptocurrencies, stock trading… the list is endless.
So how do you choose a topic for your digital product?
If you’re already an expert in a certain field you could simply take the knowledge and experience you currently have and turn it into a digital product.
That’s what Mike Geary from https://www.truthaboutabs.com/ did as a personal trainer many years ago. From his time in the gym as a personal training, he realised that the number one thing almost all of his clients wanted was a toned stomach and six pack abs. He took his knowledge and turned it into an ebook called The Truth About Six Pack Abs and started selling it online and over the last decade he has allegedly sold more than $10 million dollars worth of his ebooks.
So instead of trading his time for dollars in the gym, Mike could then help many more people get in shape and make a lot more money doing so (from the comfort of his home or anywhere in the world with just his laptop and internet connection).
Coaches, authors, speakers, experts and business owners can simply take their knowledge and experience and also turn it into a digital product. It could be a simple ebook, a more complete online course with step-by-step video training or even an annual membership with group coaching and direct access to you in a group setting (this is very scalable).
Another example is https://trafficthinktank.com. They’ve created a private community for marketers interested in search engine optimization (SEO) and for a monthly fee of ~$100/month or ~$1000/year you can be part of that community, have access to weekly or monthly group calls and webinars, have access to a members-only Slack (chat) group and be able to get your questions answered in real time, by experts and other members.
As far as I can tell they have several hundred members (and this is an annual recurring fee). This is one of the easiest kinds of products to put together with the least amount of pressure on yourself personally (especially if you don’t consider yourself an expert), yet at the same time it can be perceived to be more valuable because of the personal assistance and support a member can get from the experts and community.
But Dirk, I’m Not An Expert, What Could I Possibly Teach Others?
For those of you who don’t consider yourself knowledgeable or an expert in any specific field (most people fall into this category), there is still a ton of opportunity to create digital products.
Besides the alternatives of simply paying someone to create a product for you (easier to do with an ebook than a course but both are possible) or partnering with an expert who is the face of the product and provides the content, you don’t have to be an expert or the best in the world to create a digital product that helps others.
To help people all you need to do is be able to provide a solution for them, save them time, make a process easier for them or help them advance to the next level.
Think about it…
You don’t need to be Michael Jordan (or even a pro basketball player) to be able to teach beginners the basics of the game.
You don’t need to be Warren Buffet to teach someone how to make $1000 a month online. If you’re doing it yourself, you can teach your strategies to beginners who just getting started.
You don’t need to be Gordan Ramsy to be able to teach someone how to cook a few nice recipes. If you love cooking and your friends always compliment your dishes perhaps there’s people willing to pay to learn from you.
You don’t need to be Dr Phil to be able to help people get over anxiety. If you’ve struggled with anxiety your whole life and you found a way to cope with it, maybe that’s something that can help other people too.
There’s also significant value in doing research and making a complicated topic easy for beginners that will help them get up to speed on that topic quickly. This is something that anyone can do without being an “expert”. Simply spend time researching a topic and making it easy for beginners to understand.
That’s what I did at https://intelligentcryptocurrency.com where I created a beginners course to teach people the basics of cryptocurrencies and also write a monthly newsletter where I compile the latest news, insights, updates and my own project research into an easy-to-digest PDF.
I don’t think there are any cryptocurrency “experts” out there as it’s a fairly new industry which is constantly evolving. However, it’s a complicated topic where I removed the need to spend hours per day learning, reading and researching and just hand that to my members on a platter. It’s a huge time save for them.
Note: All members of my program Six Figure Inc get access to a list of more than 100 proven 6-figure course topics to make it easy for them to get started.
Why People Will Pay You $1000 For Your Course or Digital Product
One of the most common questions I get asked by people who are just learning about this digital product online business model is, “but Dirk, why would anyone pay me $1000? I don’t have that much value to give.”
The simple answer to this is that yes, I can guarantee if you follow the steps I’m sharing with you in this article, that there are people who will pay you as much as $1000 to join your course or digital product.
The reason is simple, they’re not paying YOU, they’re paying for a solution for a problem they have. If you can offer that solution to them, the results they’re looking to achieve is worth more than $1000 to them. It doesn’t matter who created it, as long as it gets them results.
That’s why choosing the right niche and problem to solve is important. The more painful and urgent of a problem you choose to solve, the higher of a price you can charge.
If you create an online course about makeup you’ll probably struggle to sell it for $1000. However if you have an online course about stock-trading, cryptocurrencies or starting an online business it’ll be much easier to sell it for $1000 or more because there is a direct potential for ROI for those industries. Is it worth investing $1000 to learn to start an online business that generates $1000-$10,000 per month? I’d say so.
But you don’t need to limit yourself to business niches. There are plenty of other painful problems people have where they’d pay big money to solve them. Relationship problems, marriage problems, health problems… the list goes on and on. If someone’s marriage is slipping or their relationship is heading down a bad road but he or she doesn’t want to give up, do you think that they’d invest money into a course or program that will help them restore their relationship? Many people will.
So, I hope this helps you understand that people will pay you $1000 for your course or digital product even if you don’t consider yourself an expert or think you’re worth being paid that much. It’s all about the solution you can provide for someone’s problem and if you can help someone fix that painful or urgent problem, you’re absolutely worth being paid $1000 or more.
How to validate your digital product topic
The easiest way to validate your niche is to see if there are other people who have a similar product to what you were thinking of creating. It’s counterintuitive but competition actually validates your niche and idea without you having to spend much time and money to validate your idea yourself.
If there are multiple digital products around your topic and you can estimate they’re making at least 6 figures then there’s a good chance that you’ll be able to be profitable with that topic for multiple reasons:
1 – Your niche is validated so there are buyers in the space
2 – Most people tend to buy more than one course on average so even if they bought from the competition, they may also buy your course or digital product.
3 – People are tribal and often buy from people similar to themselves. Even if there are 10 others with a digital product around the same topic as yours, all you need to do is build a small tribe of people who follow you and want to buy from you. After all if you have a $1000 product for sale, you only need 100 buyers to make $100k. If you have 1000 people (which is nothing compared to the 8B people on this planet) you make $1 million.
4 – You’ll be able to use all the research your competition has already done to dial in their messaging to save yourself a lot of time figuring it out on your own. If your competition is already successful then you can be pretty sure that the messaging, copy and funnel they’re using is working well for them.
While I’d never endorse copying (stealing) your competitors sales material or content verbatim, modelling it and adding your own unique twists and style to it is one of the easiest ways to get started quickly and completely okay.
Phase 3: Customer Acquisition
The final step to a profitable digital product online business is having a repeatable and predictable way to find new customers at a profit (meaning you need to make more from the sale of your product or service than you spend on ads or strategies to acquire the customer).
This is arguably the most important part of the whole process because even if you have a fantastic product that can help people get results or solve their problem, if you can’t find customers to sell your product to at a profit, you don’t have a business.
Already got a list?
If you’re in the position where you already have an email list or audience of loyal fans(whether that’s on Youtube, Instagram or any other social platform) then the easiest way to initially launch your product is to that following. Depending on the size and relationship with your following, it’s possible to make six figures off a digital product launch in a matter of 1-2 weeks.
It may sound crazy to you but it’s completely possible (and I’ve personally done it multiple times). It’s simple math. If you have a $1000 product you only need to sell 100 copies to have a six figure launch. Taking a conservative conversion rate of 1%, you’d need a list of 10,000 targeted followers to achieve that result. However, I’ve seen people do six figure launches with much smaller lists.
No list? No problem!
If you’re starting from scratch and don’t have an existing list or audience to launch to that’s perfectly okay. There are many ways of generating leads and buyers without having any following or reputation. Here are a few suggestions:
1 – Paid Advertising
Thanks to the endless data that platforms like Google and Facebook have collected about their users, it’s possible to get your content served to the exact kind of person that would buy your product for a few bucks or sometimes even a few pennies. Of course you’d need to know the kind of person that would be best suited to purchase your product but I’m going to assume that this is something you’ll have figured out in the market research phase.
This means you can skip the painful and slow process of building up an audience organically by creating tons of content over a period of years and you can shortcut your way to their attention. The downside of this is that it will cost money and if you don’t know what you’re doing it’s very easy to blow your budget on these paid advertising platforms.
Some benchmarks from my experience is that you can get an email address from a targeted lead for anywhere between $2-$5. A webinar lead tends to cost between $10-$20 and if you’re looking for an application and calendar appointment for phone sales it’ll run you between $150 and $300. Again, these are just some benchmarks and individual results depend a lot on the niche and other factors.
Paid advertising comes down to knowing your numbers. The better you know your numbers, the more chance of success you’ll have at becoming profitable.
If you know that you can spend $10 per email optin and still be profitable with your sales funnel, then you can go to any platform and pay up to $10 per lead and virtually buy as much traffic as your budget allows because you know you’ll be profitable.
If you’re new to paid advertising, a more budget-friendly approach would be to create a piece of really awesome content for your niche that has a call to action in it, and then “boost” that article or video with some paid spend. Great content allows you to build a relationship with a cold lead (someone who;s never heard of you before) and can work to warm that lead up or presell them on your course or product for later. Someone who gives you their email after reading a 3000 word article of yours is much more likely to end up buying from you than someone who just entered their email on a landing page for a free ebook.
Boosting content can be done on a very small budget, for example starting with $5 a day will do the trick and this way you can get your feet wet with paid ads without breaking the bank. This way you can build up an email list of targeted email subscribers in a relatively short period of time by leveraging a single piece of content, rather than writing a new article every day for months.
Quality > quantity. This way you’ll only need to create 5-10 really good pieces of evergreen content that you can “boost” and pay to get in front of more people who’d be your exact target audience.
2 – Manual/Cold Outreach
Thanks to the internet and social platforms it’s become very easy to find the kind of people that would be ideal customers for your product or service. If you know who you’re looking for then you can use websites like Facebook, Instagram or Linkedin to find hundreds of potential leads.
Linkedin is more of a business-to-business (B2B) platform where you’ll be able to search for people based on topic, position, seniority and a variety of very useful criteria. If you’re running a market agency for example, you could search for marketing directors of companies and start contacting them manually. Simply send them a message or add them to your network.
The same can be done with Instagram where you could use Hashtags to easily find more ideal prospects. For example I could search for the hastag #lifecoach and manually contact people who fit the description and see if I could help them turn their knowledge or expertise into a digital product (something I do here at Six Figure Inc).
Similarly on Facebook it’s possible to find groups around specific topics, add value in those groups and even contact members within the group in a similar way, reach out, offer to help, answer questions and aim to turn people into buyers this way.
The downside of this method is that it’s rather time-consuming and slow. The upside is that it’s completely free to do so it’s perfect if you’re just starting out and you’re on a budget. It’s also a really great way to learn more about your target market, the objections they have and their pain points and struggles. This information is incredibly valuable to help you improve your messaging and offer so that your future marketing and sales will convert much better.
3 – Joint Ventures / Partners
The third method is one that allows you to skip the previous two methods all-together and get straight to making sales of your product without having to create content, build up an audience or even invest in ads. This method is to partner with someone who has a list and following in your niche where your product is a perfect fit for their audience and together you do what is often referred to as a joint venture (JV).
A JV is a win for all parties involved and it’s one of the fastest ways to make big money as a product owner (or as a list owner). The list owner has a following in a specific niche and usually that following is loyal and responsive to the list owner. Thus, when the list owner recommends a person, product or service related to the interests of the list (especially when that person, product or service can genuinely help solve an important or painful problem for the audience), there is usually a strong response.
Here’s a simple way to describe how this works.
Let’s say Bob has a list of investors that he’s built up over the years. Bob does have his own products but he also promotes other people’s products from time to time as an affiliate.
Let’s say Harry has an education program about cryptocurrencies that is a genuinely good offer and something that is in demand right now.
Bob and Harry connect (whether that’s through a mutual connection, social media or simply running into one another at a coffee shop and having a chat) and they setup a JV.
Bob will bring on Harry as a cryptocurrency expert and recommend to his list to sign up for a free presentation about Cryptocurrencies that Harry will host. As the recommendation is coming from Bob (someone that they trust), there is an instant “trust” and “expert” factor for Harry who now suddenly has an audience of hundreds or maybe even thousands of warm prospects who could potentially buy his product.
Assuming that the webinar presentation is put together well and the offer is attractive enough, it’s possible to make 5 or 6 figures in sales from a single promotion like this. Without ad spend. Without creating content. Without having an audience. It’s also a great win for the list owner because they get to make a lot of money without having to create a product or handle any support, simply by sending out a handful of emails.
Usually the split is 50/50 meaning the list owner gets 50% of all sales generated and you get to keep the rest after any expenses like processor fees.
The nice thing about this method is that it doesn’t require you to invest money upfront and often you only really need 1 really good JV partner to make a ton of money (JV’s have helped me generate more than 7 figures in sales of my own products over the years). The downside is that it’s not necessarily a repeatable or predictable way to build your business in the same way that mastering paid advertising would be.
Pro tip: If you’re going to be following this model as a product owner, the most important thing to focus on is to have a genuinely good product that gets people the results you promise. List owners are protective of their audience and usually don’t like to promote anything that will hurt or disappoint their followers and that will lead to the demise of their own reputation (and profits).
Conclusion: How Do You Make $1000 Per Day?
Let’s recap and sum up the entire article in a few paragraphs.
The first phase is that you need to have a product that you can sell online. I recommend creating your own digital product because I think it’s the most efficient online business model you can follow. You’ll create an asset you make once and then you can sell it for years to come. The overheads are virtually zero and you can sell thousands of copies for no additional cost. The maintenance and deliverables to your customers are almost zero (besides for the support which you should do in a group setting for efficiency). Your digital product is something you can sell up to as much as $2000, but for this example let’s just say you sell it for $1000. This means you only need to make 1 sale per day to make $1000 per day.
The second phase is to do your market research to choose your topic and make sure that the product and offer you’re going to create has market demand. The easiest way to do this is to see if there are any competitors who have made 6-7 figures and simply model everything that is already working for them. Be sure to choose a topic for your product that you’re actually interested in as it will make the process much more enjoyable and make it more likely that you’ll continue to work on your business for years (and scale it to huge levels) without getting bored.
The third phase is to start driving traffic to your offer so that you can start making sales. The three methods I outlined in this article that you could use are paid advertising, manual/cold outreach and finding JV partners to promote your product to their audience for a revenue split agreement.
That’s the 10,000ft overview. While it will take work and effort to get to this point, it’s really not as difficult as you may think it is and it will not take as long as you think it could.
Following the right strategy, having a step by step blueprint, getting proven templates to kickstart your business and having a mentor and community to guide you when you need support is key. Having these things could allow you to create and launch your digital product online business in 90 days or less, meaning that within 90 days you’d have a digital product that’s ready to start making you as much as $1000 per sale.
Once you have the product and offer ready, most of the work is done and you can just focus the rest of your time on promoting your product to start making sales and scaling to $1000 per day.
If you’re interested I want to make it easy for you to get started and offer you the strategy, blueprint, templates and my personal support to help you create and launch in the next 90 days. All of this is part of my program Six Figure Inc.
How To Join Six Figure Inc and Have Me PERSONALLY Help You Create & Launch Your Digital Product in the next 90 days
Starting an online business and creating a digital product can be overwhelming if you have no experience or you’re going at it alone but it doesn’t have to be.
Save yourself a huge amount of time, wasted money and frustration and get it right the first time.
Thanks for reading and I hope that you got value from this article. If you did, please consider sharing it on social media as it would help more people and I’d greatly appreciate it!