Zero To £100,000 In One Year

When my first business mentor spoke in public, she would ask people to think about their ideal annual income. 

Then she would ask people to put their hands up if it was £1 million a year.  A few brave souls would put their hands up.

£500,000?  Perhaps a few more brave souls would raise their hands.

£100,000?  Quite a few more.

£60,000?  About a quarter of the room.

£30,000?  Back in the early 2000’s the majority of the room would put their hands up here.

I’ve been asking this question ever since and by far the majority would put their hands up for £60,000 but recently, the majority in a room will put their hands up for £100,000.

Whether I’m just speaking to more aspirational rooms of people nowadays, or whether the constant pressure of inflation (nearer 20% than the much-touted 2% per annum by the way!) has forced people to raise their expectations, I don’t know.

Would you like to know how to make £100,000 even if you are working from a standing start?

Without being flippant, it’s really very simple.

You sell 100,000 people something for £1 profit in a year or…

You sell 10,000 people something for £10 profit in a year or…

You sell 1000 people something for £100 profit in a year or…

You sell 100 people something for a £1000 profit in a year or…

You sell 10 people something for a £10,000 profit in a year.

You get the idea.

Now there’s a difference between Gross Profit and Net Profit, but simply put, profit is the bit you get to keep after your business makes the thing, markets the thing, delivers the thing, all the while paying the bills to do all of the above (and paying tax). 

Bonus: You also get to pay tax on the bit you get to keep if it’s over a certain amount per year BUT if you know how this works, it’s still less than you would pay on a job where you get paid by someone else. 

I digress.  

Which do you prefer the sound of? You can mix and match.  

You could offer 100 people something for around £1000 per year. You may prefer to offer a higher level of product or service to around 10 people for one year for around £12,000 or £1000 per month.

You decide, It’s entirely up to you.

The really interesting thing is, that it’s just as much work to market and convert customers to the former, as the latter.  

Now that’s something worth thinking about. 

Remember I said it was simple?  Well, it is, but it's not easy.  

Because you will have to take action, take the right actions and you will doubt yourself every step of the way.  Maybe that's the biggest barrier to most people when building a business like this.

But if you have an expertise that other people value, and you take the right steps despite your doubts, you can create a business that makes you over £100,000 per annum quite quickly.

I could help you do that.

I've done it several times now.


Photo by SpaceX on Unsplash


Tags

aspirations, business aspirations, business potential, business startup, earning poitential, new business, zero to 100000


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