How achievable is it to make $1000 per week online
I just want to make $1000 per week with my online business. This is a sentence a hear a great deal from clients especially expats living in Bali. Most of my clients have this expectation, to passively make about $1000 online every week. I hear it again and again, “I’m not asking for much, I just want to make $1000 per week from my website. Well let’s take a good look at this statement. The figure $1000 for someone living in Australia or Singapore or the UK seems like a typical amount earned from a job every week and by no means would it be considered a large income. Let’s looks at one word in particular, that word is “just” This word implies to earn $1000 per week from a business online should definitely be achievable and perhaps even easy or effortless. It denotes that everyone must be making this kind of money and there is an expectation from the client that this should be achievable. Well the client unfortunately is not the expert when it comes to digital marketing, we are the experts and we know that if they just want to make $1000 per week with their online business they are in for a shock. The first thing one needs to understand that even in established economies like Australia, NZ, UK, Singapore most people will work 30 40 even 50 hours per week to earn $1000. Meaning the majority of the workforce regardless of their vocation will spend most of a given week working for this figure. To expect to set up a website and magically make this type of money week after week is not reality. Whatever you do don’t give up your day job. Now let’s look at the finance industry, to make $1000 per week passively you are making just over $50000 per year. If you have a managed fund that delivered 10% growth then you would need $500000 to make $50000 per year. Guess what, 10% according to most fund managers would me moderate risk, you would need to place your money in a very low risk portfolio to sleep well at night. Expect a $% return so to make $50000 per year or about $1000 per week you would need to invest $1000000 yes ONE MILLION DOLLARS. If everyone could simply set up a website and magically make $1000 no one would work, society would come to a stand still and life is not that easy. So what does it take to make $1000 and is it achievable. Let’s answer the second question first, yes it is achievable but what does it take? If you want to make $1000 online per week 1/3 of people will need to outlay somewhere between $700-$800 to bring in $1000. That’s right you need a marketing budget, organic results are simply not going to cut it. You will need to invest heavily in Pay Per Click Advertising and realistically to make $1000 you will be outlaying $700 - $800 and you’re doing well, you are actually making a profit. 1/3 or businesses will need to spend about $1000 in marketing to make $1000, yes you are probably not even going to make a profit with the product or service you are promoting. The more competitive a market niche, the more competition the smaller your return on investment will be. Finally 1/3 of businesses will most likely be spending $1300-$1500 to bring in $1000 per week, yes you may even lose money, this was never going to be risk free. Reality is a half decent looking woman would make more money renting her hole than make $1000 per week without heavy marketing investment and perhaps the same applies for a man with a good pole but there is less demand for that. People are after a dream, to make money effortlessly and to make enough money to maintain their lifestyle well it’s a dream, unfortunately I work with clients in touch with reality. Businesses that make $1000 per week online are businesses that have a significant marketing budget with thousands of dollars in reserve. Just like people who earn $1000 will work hard at a job for most of the week and people who make $1000 from funds and investments have one million or over invested. Don’t believe me, rent out your hole, you will have a better chance of making this kind of money.
Author: Rod Day