Let me ask you a question before we begin: What are you good at talking about? When I ran this business model last year, I talked about Social Media and how to gain followers on any network without any hassle and how to automate that process.
What are you good at talking about? That’s all you need to answer in order to succeed with this business model. Let’s say you know everything there is to know about nutrition. You will now become an online nutrition consultant. Know about accounting? You’ll become an online accounting consultant. Whatever it is that you are passionate about is what you will become a consultant in.
The going rate for an online consultant (without you being seen as greedy is $180/hour). That’s what I charged and that’s what you should charge if you want it to work. If you’re going to be greedy from now, this will fail. I decided that I only wanted to spend 3 hours a day on this. That does not necessarily mean that you need to get 3 clients per day. It just means that you need to get them to spend more time talking to you. I managed to get those 3 hours down, every single day of the week. That translated to $194,400/year. Calculation: $180 x 3 hours = $540/day x 30 days/month = $16,200/month x 12 months/year = $194,400/year. That is yummy and I only had to enjoy 3 hours of talking per day. It’s not considered a job if you’re enjoying every minute of it. You know you’ve done someone a great service if you reach that “Aha!” moment with them. Make sure you reach that point. That’s what keeps them coming back.
Now I’m going to take down my exact journey so that you can replicate the exact steps:
Step 1: Find a niche/subject you’re interested in talking about. This is really important and you need to get it right from the beginning. You can’t switch it up whenever you feel like. You are going to stick to that niche and develop a name for yourself.
Step 2: Begin researching that niche in detail. You want to be able to respond to any questions your clients may have without having to say “I’ll get back to you on that later”.
Step 3: This is the fun part. Come up with an awesome company name for your new consultancy and you will want to buy 2 domain names for your company like this: xyzconsulting.com & floridaxyzconsulting.com you will have the second one redirect to the first one. The reason we have this is because you want to build the area you live in first, then slowly expand. xyzconsulting.com will be your international hub where all other sites with redirect to. 99% of my websites are hosted on Bluehost. Why? Because it’s incredibly easy to use with 1-click automatic WordPress installation and excellent customer service – via phone and via chat. I HIGHLY RECOMMEND using Bluehost for your first site. Also, you can use the same hosting account for multiple domains if you plan on creating more websites. Click this link to get a special discount off the regular price!
Step 4: Once you have your wordpress setup using bluehost, simply install the Thesis Theme to get your professional site started. Make sure you have all you contact details clearly shown on the site. Remember since you are not selling anything, you want to make sure that people know exactly how to get in touch with you for a consultation.
Step 5: Continuing on the easy-to-use theme, this is by far my favorite tool for easily creating high-quality landing pages and squeeze pages. LeadPages will help you convert viewers into subscribers or buyers. Best of all, it works both with WordPress and non-WordPress sites alike. You’ll want to connect an auto responder to your lead page and my absolute favorite is Aweber.
Another option to LeadPages is Glen Allsop’s OptinSkin, a fantastic tool to help us more easily embed email opt-in forms into our websites.
Step 6: Hire someone from Fiverr to advertise your site on craigslist, backpage, local listing, etc… of your area. As the name suggests, it will only cost you $5 to make this happen.
Step 7: At this point you will be getting a nice stable stream of customers. Ask you current customers for referrals. If you find that you’re getting a lot of referrals, you may want to think about creating a referral program to boost the number of new customers. Slowly build your way up from small companies to corporations (only when you’ve got a track record of success and testimonials to support you).
Some things to remember:
“Consulting isn’t about always knowing the answer, it’s about always knowing where to FIND the answer.”
Now here’s a little trick you can use to get you some time. If they ask you about something you don’t know, tell them that you will “discuss it with you business partner” and get back to them. Your business partner in this case is Google.
If you are going to move forward with this business model, just let me know in the comments below. I’d love it if you could share your journey with everyone on this site. If you found this information interesting, then please subscribe below so that you’re the first person to get my business models.
15 thoughts on “How to Make $194,400/Year by Talking – Anyone can do it”
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Give it a shot and let me know how you get along! Feel free to leave your questions in the comments and I’ll do my best to answer you with as much detail as possible.
Great idea in theory, however, what if what your niche is youth motivational speaking, how can this model work for that?
You get paid in good karma 😉
Awesome advice—really has me thinking how I can expand my current business! Just a few logistical questions-
1-When do you charge for the consultation?
2-How do you process the payment?
3-Do you schedule the call or take incoming calls on demand?
4-If you take calls on demand–do you publish your available hours?
5-Do you call the customer or do you have an 800 # that they call you on?
6-Do you skype, chat or e-mail in addition to phone calls?
Thanks in advance for the tips!!!
1 – There are several options you can take. Starting off, you can ask for 50% upfront and 50% upon completion. The more trusted you become, the sooner you can ask for payment upfront (when an appointment is made). Another options is to find a software designer that can code a Skype app for you which charges by the minute. This is obviously the best way to go as you and the client can see exactly what is going on without getting into any issues.
2 – I use PayPal, simply because I can get payment immediately. There are many other options, but I just use PayPal. Always remember to include PayPal fees in your calculation. People tend to forget that part and then they’re slightly annoyed that they didn’t get the money they expected. Create an excel sheet that will calculate this for you for every Paypal payment you ever receive.
3 – I definitely schedule the call. This way the client will know to respect your time. If you pickup every call you get, you will seem free and easily accessible. The opposite of what you want to project to the client. You want to be so busy that you can’t pickup unless a schedule is made.
4 – I guess #3 covers this.
5 – If you have a website for your business, go to k7.net and get yourself a US#. This is a completely anonymous number that will recieve voice calls and voicemail. Tell anyone to leave you a voicemail on that number and you’ll get back to them as you’re busy with other clients. The voicemail will automatically arrive in your inbox.
6 – 99% Skype, unless during the call I promised them that i’d email them specific information. I never do phone calls as most of my clients are in the US and I’m based in Hong Kong, so definitely Skype (without video). Video is extra (because I need to get out of my PJs :P)
Hope that covers everything! Good luck!
Thanks, Rami! Best of luck to you too!
I find your system interesting and would like to give it a shot. Considering you are a well connected businessman, my question for you is what niche/segment would you recommend me to focus? In other words, is there an area that you see with a higher potential for success than others? My broad focus area would be in management/finance/tech, but nothing overly specific. I have the time to read and learn about a subject, but am a bit lost as to what subject I should pursue.
“management/finance/tech” are indeed very broad areas. I cannot specify exactly what it is that you have most knowledge in. One option would be to use the Google keyword tool to see which terms get the highest monthly searches. That would help you gain some insight as to what is most needed.
Hope that helps and good luck!
Interesting post – my niche is child and adolescent psychiatric pharmacy – consulting on aspects of medical practice has legal implications – especially with exposure to the US (I am in Canada). Do you have an agreement/disclaimer your clients sign before you work with them? Are you aware of using your proposed setup with aspects of medical practice ? Thanks
Whats up Rami El-Ashi, Im pretty interested in the topic above you have posted. I’d have to say my current topic I’m amazing at is planning, traveling, and experiencing new things. I do have connections to several amazing road trip planning Sites, I’ve ordered a tour our state from all 50 states, and all the major cities and points of interested within the us. I’ve researched and purchased the correct amazing backcountry trip books, and know all there is to the meaning of taking the “Scenic Route”. I do have a day job but I would like to transition into making this my full time 3 hour a day job planning trips for others. For this specific course of action how would you recommend to approach it.
i like your model, am thinking to give it a shot , but Rami i think i need a major assistance from you… so if you are ready to give me some of your valuable time please send me how to contact your directly buddy 😉
Shoot me an email at: email@example.com let’s see how I can help you!
hello Rami i sent u an email from awhile still waiting for ur reply…. 😦