It’s simple to find fast cash but to make legit money long-term takes some time and intention. Here are the 7 steps that I used to make an additional $100,000+ each year. This report includes hyperlinks which we may receive compensation for if you click, at no cost to you.
I rushed down the elevator into my mailbox. Today had to be the afternoon; it’s been over a week because my client said he had sent my test. I lost my keys twice trying to open the box, then tore through the mail.
The plain white envelope was trapped between a J.Crew catalog and a Bed Bath & Beyond coupon. This is it. I simply stared at it in the lobby, then carried it upstairs lightly, like somehow this envelope could spontaneously catch fire or blow up in my hands.
Inside my flat, I laid it on the table and with the precision of a physician, I carefully employed a letter opener (wait, why was I using a letter opener, I’ve never used one previously in my life to gently pull apart the envelope.
I inched out it slowly.
The 100,000 tests weighed less than one gram. This was the first six-figure check I’d ever received. It had been 2012 and it felt surreal.
I had done it. I’d unlocked a new degree of money-making. I often get asked: “How do I make more money fast?”
While it’s rather simple to go out and make $20 mowing a lawn or a few hundred dollars renting out your location on Airbnb, it is harder to go out and earn an extra $100,000 each year.
It does not happen immediately, but there are steps you can take to significantly increase your probability of building much more income.
7 STEPS TO MAKE MORE MONEY
I have distilled this down to 7 steps on how to make more money now and in the long run. Most people just make the choice right in front of them with very little thought on the effect it is going to have on their own lives later on.
But the men and women that make the big bucks tend to be intentional, tactical, and have a program. Here are the steps that I took, and you can take, to create an extra $100,000 per year (or more!)
1. GET A RAISE, BONUS, OR FIND A HIGHER SALARY
The quickest and simplest way to earn more money is to get paid more doing everything you’re already doing. Period. When it comes to cash, always work to optimize what is in front of you.
Pretty much no matter what industry you operate in, it’s hard, and getting harder, for companies to find decent talent.
We’re in a gift drought. You can use this to your advantage.
- Can You Earn More Money At Your Present Job?
Were you aware that it costs most companies $20,000+ to just replace one employee, so they will likely pay you 10K+ more per year just to keep you? And if they won’t and you would like to leave, there are companies which will pay to secure you. Do not sell your self short.
There has never been salary transparency and it is so easy to work out what other people in your role in other companies are getting paid. It’s also easy to use salary data to scope out livelihood trajectories. Don’t like what you are doing today and want to make more money? Determine what skills are needed for the job you want and start building them.
I used to utilize this guy Brian who was a Jr Copywriter at the very first digital marketing agency I worked — his starting salary was $36,000. He had been a super talented guy, but he knew from his research that he was not likely to be able to make over $80,000 as a copywriter in Chicago. He wanted to make the big dollars with his creative skills.
He saw on GlassDoor which Senior Creative Directors could make $150,000+ with only 5 years’ expertise. He set his aim on the creative director position and began constructing his portfolio and helping out the creative manager at our agency.
Only 3 decades later, he obtained a Senior Creative Director job in Vancouver and earns over $150,000 each year. What did he do? He saw what he wanted and came up with a game plan to get there.
In the digital economy, the cash is there, but the majority of men and women leave it to chance and think their bosses are going to see their hard work and reward them. Be your advocate — ask for everything you want, back it up with data, and come up with a clear game plan for where you are attempting to go.
Keep a close eye on the salaries for places like yours using websites like Salary.com, Glassdoor, PayScale, or Truly.
Check out my detailed post on the best way best to receive a raise. I receive emails all the time from readers who’ve used the approaches in that post for $10,000+ raises. One woman used it to get a $30,000 increase. It is worth having a look.
2. BUILD IN-DEMAND SKILLS (FUTURE-PROOF YOURSELF)
Skills are future currency. The more in-demand skills you have, the more income you will have the ability to create, the more control you’ll have over your income opportunities as well as the capacity to diversify them.
It has never been easier to change careers, so building in-demand skills is a quick method to make more money — because you can switch jobs much quicker once you have a skill that’s in demand.
- START SIDE HUSTLING & SELL YOUR EXPERTISE
Thankfully it has never been simpler to build new skills for free or inexpensively. It used to take decades working at a job to find out the ins and outs of the way the company and place worked.
In the old model, an employee would start at an entry-level position, learn the principles, and find a promotion every 2 years using a 5 percent salary increase into the next role handling the men and women who did the tasks below them.
Should you stayed long enough with the company then you could work 10+ years to attain the level of senior management.
Your experience was aligned with reimbursement and after promotions depended on less on your value and much more on the place opening up from somebody up over moving out. This was the old school version.
As I previously shared, I learned how to perform digital marketing in 60 times on YouTube and went from earning $50,000 to over $400,000 in 1 year! It was this change that was the largest driver in my millionaire strategy.
I managed to increase my salary and earnings from 8x in 2 years because I assembled an abysmal ability set (digital marketing) and continued to diversify my skill set. My friend Judith raised her salary from $50,000 to $225,000 in 3 years making moves from her graphic design job into leading sales for a tech company.
While I’m a bit of an extreme example, the principle still applies that skills allow us to create value — which we could then monetize. You can learn virtually anything at no cost through online classes to diversify or create an entirely new skill set.
You can learn pretty much whatever required to conduct a company in a few hours online. As soon as you feel as if you’ve learned it, then cover a specialist for 15 minutes of the time to respond to your questions to fill in the gaps.
The skills most in demand now and to the future is going to be a combination of soft and hard skills, such as analytics, coding, digital marketing, and marketing, branding, and design.
3. START SIDE HUSTLING & SELL YOUR EXPERTISE
Do you know those skills that you can construct online? When you master them, you can sell your expertise to others who wish to learn what you understand.
Now and in the future, both founders and curators that include value will be able to build an audience and decorate it.
There’s more information created every moment online than could be consumed within a lifetime, but people are overwhelmed and don’t know where to look for answers or ideas that truly work. If it is possible to provide answers and help people be more effective, more effective, or more effective, then you can make a great deal of money.
Here is the paradox of this information era — an infinite quantity of info is available for free online, but individuals seek teachers and seasoned curators. You can easily sell your knowledge and make more money both actively and passively.
Actively: Once you’ve assembled the expertise, you can sell it to other people by training or using your expertise to help them solve their problems through a consulting engagement.
The larger the issue, the bigger the organization, or the more desperately someone needs their problem resolved, the more cash that can be made. The more specialized your comprehension, the more cash you can make.
The more income you earn a person, the more cash that can be made. I’ve consulted digital marketing and website strategy for many companies and institutions, and these very same rules always apply.
The key is to receive one reliable brand for a customer (you only want one) and add as much value as possible. Then it is possible to use them as a reference to market similar jobs to similar size brands. Here’s the way to create a consulting business.
Passively: It’s never been easier to offer your expertise on the internet. My blogger Michelle started an online course to educate bloggers on how to make more money using affiliate ads and she made more than $1 million final years. The course sells itself.
4. ANALYZING YOUR CIRCUMSTANCES TO ENHANCE PRICING
If you truly wish to make more cash than it’s vital to learn how to analyze your revenue or business opportunity at a more profound level. I learned how to test people while playing poker at school. What does the customer want?
Don’t just think about what they’re asking — think deeper about what’s motivating them. In a lot of business scenarios, your boss or potential client wants to look good/make more money/success.
Therefore, if you can help them perform all three of those, you’re golden. I devote a good deal of time writing emails for my customers that they can forward on to their bosses to showcase the impact they are making. Next time you’re delivering or trying to sell a project, think about what you could include making your client more successful. Then the price for it!
A vast majority of individuals underprice jobs because they are afraid of losing them. Moving back to the first $100,000 job I sold — up until this stage I had always undersold myself and my expertise since I was fearful I wouldn’t get the project. Previously, the most expensive website project I had offered was $12,000 therefore it required courage to ask for $100K.
However, with this project, I managed to ask for 10x more than I had before because I knew how far this law firm wanted a brand new website, I knew the guy in charge of advertising wanted the seller to make her look good, I knew the worth of my skill set, and I also thought that everyone I had been competing with (all agencies) could be charging at least $100,000.
It was also a huge law firm so that I knew they had the cash. It’s much more profitable to sell to companies that have more money! Sure, I might have lost the undertaking, however, I took a risk and asked for more cash. You have got to be prepared to lose a few engagements to acquire the large ones.
Remember you are trading hours of your life for the project. Why wouldn’t you want to get paid for what your time is worth, or even better, as much as possible?
5. LAUNCH YOUR OWN COMPANY
It has never been easier to launch your own small business. You can construct a site now in 20 minutes and be selling products or providing solutions in a few days. If you’re going to start a company, I certainly recommend you begin an LLC, then the simplest type of company to install, which means it’s possible to distinguish your company and personal assets.
There are various advantages to starting your company and managing your own life as a company. It’s possible to take tax deductions for business expenses, you get certain legal protections, and you can use a little company credit card to rack up additional miles for traveling at no cost.
Be Your Boss & Purchase Yourself More
Working for yourself either full-time or around the side has never been simpler and it’s the clearest route to wealth. All of your investments — your time, networks, skills, and, of course, the money will compound more than resulting in new income flows and opportunities. It is necessary to commit your time building the customs, skills, and networks which can set you up for life.
It took me a year to begin to construct an audience and make money on advertising ($100-$2,000/month), then make commissions by recommending products/services that I use myself via affiliate marketing ($1,000 — $10,000/ month). Here’s a listing of the best affiliate programs.
Once my crowd was big enough earlier this year, I started promoting a premium route for readers who wanted to go deeper. Given the initial success of this Millennial Money Course, I am currently working on several new classes — one on SEO and side hustling.
Making money at whatever takes time — it isn’t just going to magically appear, but it’s never been easier to build an audience and sell your expertise. Start building the base.
6. REACH MORE PEOPLE WITH YOUR PRODUCT OR MESSAGE
I have built my career targeting individuals online. I have been fortunate to work with over 200 distinct clients, including many of the very best universities in the world to help them aim and market their products.
Now, you can target almost anyone in the world using a message personalized for them via digital marketing on the platforms they use every day.
If my wife was in Africa, I constructed a Facebook ad campaign using a little targeting audience only so she would see an ad that stated: “I miss you!”
- How To Make More Through Digital Marketing
You might be thinking — well how do I do so?
There are lots of high-quality free resources where you can learn about digital advertising and most platforms (like Google & Facebook) have extensive videos where you can learn the platform.
To find out the basics for free, check out the learning facilities for Google Adwords and Facebook. Additionally, there are low-cost courses you may take, however, if you are motivated, you can find out all you need to know about electronic promotion for free.
Once you’ve learned the fundamentals, then it’s time to find out from experience.
It is important to be aware that just because it’s never been easy to reach people with your product or message, also, it means that more people are performing it. The market is becoming both more aggressive and difficult to get someone’s attention. Just because it’s easy to goal, doesn’t signify that the people that you aim will care, respond, or buy.
To get them to pay attention, it is important to communicate the unique value of what you’re offering. You’ll always have competitors, therefore it’s important to highlight what makes your product-specific and why someone should hire you or purchase your merchandise.
Why is your offer distinct? Why are you better or faster or more reliable? If you can get this information to the right people at the ideal time, you can unlock amazing money-making and promoting opportunities.
7. BUILD A NETWORK AND AN AUDIENCE
While I enjoy making new connections, I despise networking events. I’m an introvert in mind and disdain events that are set up just to the community. I get lots of invites for them young professionals media, after-hours networking, breakfast networking. In all of the networking events I have ever been to, and I moved into a ton in my twenties, I have only met one person that eventually resulted in a relationship that resulted in a sale.
But media and connecting online? It’s exceptionally stronger. The most lucrative relations I have made have been through LinkedIn, my website, or even the holy grail: testimonials from previous clients! When you have a few happy clients, you can unlock a bunch of other people by asking for referrals.
If you truly wish to build a company or earn more money, you need to construct a network along with an audience. A community is a group of connections that requires time to build and is essential to unlocking opportunities during your life, but an audience is a lot more valuable. If you have an audience, then you can earn a lot of money pretty fast — by selling worth to an audience that trusts you since you’ve already added value to their own lives.
Concentrate on building an audience and a community.