In this episode, Adam Stott shares his five-step process for making £10,000 per month from a standing start in today’s economy. He emphasizes the importance of creating a product or service and pricing it around £1,000 to achieve the desired monthly income. Adam suggests selling knowledge-based products as they often yield higher returns than providing services. He explains how to identify the best buyer for your product or service and how to engage with them effectively.
Adam emphasizes the need to have daily conversations with potential buyers and provides strategies for finding and reaching out to them. He also highlights the importance of booking sales calls and closing deals to achieve the desired income goal. Adam’s step-by-step approach offers a practical and actionable roadmap for anyone looking to generate a consistent monthly income.
- Creating a product or service priced around £1,000 is an effective way to achieve a monthly income of £10,000
- Selling knowledge-based products allows individuals to monetize their expertise and often yields higher returns than providing services
- Identifying the best buyer for your product or service is crucial for successful sales
- Engaging in daily conversations with potential buyers is essential
- Booking sales calls and closing deals are key steps in achieving the desired income goal
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Please note this is a verbatim transcription from the original audio and therefore may include some minor grammatical errors.
How do you make 10, 000 pounds per month from a standing start quickly in today’s economy? That’s what this video is all about. We’re going to dive straight into it and give you five simple steps for how anybody can start to make 10, 000 pound a month. regularly, consistently using this five step process.
Okay, step one. If you want to start to get to the point where you make 10, 000 a month, you’ve got to create a product or service at the heart. An entrepreneur is a creator. There’s somebody that creates something that doesn’t exist in the marketplace, takes it to market and sells it for a profit. So if you want to start making 10k a month, the fastest, most effective way for you to do that, Is to create a product or service and get that product or service to have a price point around 1, 000 minimum.
Why would it be around 1, 000 minimum, Adam? Well, it’s really simple. If you sell a product for 1, 000, you want to make 10, 000 a month. How many do you need to sell? Well, you need to sell 10, which makes the maths really easy. Now, if we speak to 100 people per day, we’re easily going to sell 10 per month if we’ve got a 1, 000 product.
And if your ambition is to make 10, 000 a month, I want to make it easy for you with these steps. So we want to keep the pricing around 1, 000. So you’re probably going, okay, Adam, well, what do I make my product? And what should the product be? And how do I come up with a product or service? Or maybe you’ve got something already, but it’s not 1, 000.
Well, let me explain to you something that. You know, it’s been really powerful for me over the years and for thousands of people we’ve coached and, you know, let me be transparent. I’ve had multiple different businesses. First business I had was a finance business where we literally were a finance broker.
We learned lent out other people’s money. I took that business to a seven figure business. The second business I had was a automotive business initially just selling cars and selling automotive, then moved into body shop, shebang, took that to 40 million a year. You know, it’s easy to sell a product. If you were selling a 10, 000 product, how many do you need to sell to make 10, 000 a month?
So you sell one car, 10, 000. Sell one, you made 10, 000. Make sense? But it doesn’t mean you’ve made 10, 000, it just means you’ve sold 10, 000 worth, right? So that’s another important part. And that’s why my recommendation is this. Um, in addition to having finance business, um, and car business and body shop and service centers, in addition to that, I’ve had an eight figure seminar business and eight figure events business run events all over the world, holding events.
And one of the most profitable fastest things that you can do if you want to make more money is sell your own knowledge. What does that mean? Sell what you know, the things that you have inside of your head. Are worth money in today’s world. We’re at 2024. People are looking for knowledge. They’re looking for ways to Better their lives.
They’re looking for ways that they can have a better lifestyle. They’re looking at how they can earn more, work less, and get a better work life balance. And a lot of people are looking for that. And where you’re currently at right now, is you might have some great knowledge in the field that you’ve worked in, for example.
Perhaps you Worked in photography. Now, let’s take a photographer example. You as a photographer, you want to go out, you want to earn 10, 000 a month. You’ve got to go, well, I’ve got to book myself out. I charge 200 a day. You know, I’ve got 1, 000 a week. There’s only four weeks in a month. How am I ever going to get to 10, 000?
I can only make 4, 000 and that’s if I’m fully booked. So I’m stuck and that’s the mentality and whether that’s a photographer. whether that’s a chef, a marketer, whatever it might be. If you think that you’re stuck there, imagine you flipped it on your head and instead you sold what you know. And instead of selling your time at 200 for a full day of photography, you actually created a really great photography course that could show people how to become photographers because you’ve got that knowledge, you know that already and you sold that for 1, 000.
You’ve now got eight hours in a day to go and find someone to give you 1, 000 pounds for your course. Make sense? So now it becomes much much easier because if you sold 30 in a month, you make 30, 000 pounds a month from actually running that photography course business rather than actually going out there and taking the photos.
So it’s a mad thing, but in today’s world you often get paid more for actually selling what you know than doing what you know. So that should be a big consideration. And being that this video is how do you get there and how do you get there fast? That would be my first recommendation. Create a product 1000 pound price point selling what you know.
Now, step number two, it’s all very well having a product that you created and believe me, you should put your heart and your soul into that product, make it amazing. So when you do find the right person for it, they absolutely love it. Well, what do you do next? What’s step number two? Step number two is you’ve got to find the best buyer for that product or service.
Let’s take the photography example. So you’ve created your photography course that you’re going to sell for a thousand pounds. You know who is the best buyer of that photography course? Well, the best buyer of that photography course could be somebody that Is in their journey, interested in photography, but doesn’t know how to monetize it.
Doesn’t know how to get gigs. Wants those 200 pound a day gigs that you were getting, but doesn’t know how to get them. So now in your course, you know the problem. You know the pain point of that person. They love photography, but they don’t know how to monetize it. Now you can gear that course towards that person and say, Hey.
Look, get my photography course. We’ll show you how to take amazing photos and we’ll show you how to go and land clients that pay you two hundred pound a day so you can earn a thousand pound a week. That person’s now going to be motivated because it gives them the answer to one of their pain points which is they don’t know how to make money from doing what they love.
And two, it gives them one of their gain points. They want to make money. So they’ve got, they’ve got both aspects. So what I’m really saying here is after you’ve created something from your knowledge, you have to go and find the best buyer. Who is the best buyer of that product or service that you’ve created?
Whether it be the service, the knowledge, whatever it is that you’ve created, who’s the best buyer. Once you’ve figured out who that best buyer is, and how do you figure out? This is, so many people get stuck, right? They’re like, oh, well, I don’t know who the best buyer is, and I like, and I don’t know how to find them.
I don’t know how to figure that out. But it’s really simple. Who do you think would love to be in the position that you are in with the knowledge that you have? Who’s in a worse position than you that you would like to help pull them up to where you want to be? If you look at it like that, you go, okay.
Well, maybe somebody that’s 25, you know They’ve been working and they now want to go and get a job that’s doing this Okay, or they want to start a business doing this and you find out who that best buyer is now This is really important. A lot of people miss this Because in our step three, what we want to do next is we want to go out, step three, and speak to as many of those people as possible.
Like, as many people as possible. We want to speak to them every single day. And you might not have any budget, let’s just imagine you have no budget to put into marketing. So you can’t run any ads, because you don’t have any money. So you’re going to have to go out and you have to speak to these best buyers on a daily basis about your new photography course that you’ve created or your new marketing course you’ve created, whatever it is you’ve created, the knowledge that you’ve got that you’ve monetized.
So going to do? Well, you have to go over to social media and you have to find those people and you have to start having conversations. Imagine you spoke to say 50 people a day every day about the new thing that you created and you knew that they would They were probably a good buyer of your product or service, and you started a conversation with them.
Let’s say, 48 of them ignored you, and they weren’t interested in what you had to say. It’s cost you nothing but time to have the conversation, but two were interested. Uh, one of them, you speak to a bit further, they’ve got no money, they don’t want to do it, they’re not sure, etc, etc. One of them, you get onto a call with you, they end up buying, they give you a thousand pound for the knowledge that you’ve created and sold.
What have you done now? You have gone out to market, been a creator, created a product, found some buyers for it, had some conversations, made a thousand pound, day one. Now all you’ve got to do is you’ve got to do that ten times a month. So all you’ve really then got to do is go and start to speaking to a significant amount of people each day.
So let’s just go back a little bit. First of all, step one, create a product or service from your knowledge that you can charge a thousand pounds for. That could be anything that you know. It might be how to, you know, maybe you’re a chef and it’s like how to create amazing meals. Maybe you’re a personal trainer and it’s like, hey, how to really get yourself in peak fitness in 30 days.
Perhaps you’re a nutritionist. How to. add 10 years to your lifespan with, you know, the amazing diet and food diet, whatever it might be. Just figure out what your benefit is, create into a thousand pound product, then say who would be the best buyer of this product? Figure out who that person is. And let’s say it is, um, a business owner for argument’s sake, or tennis coaches, or whoever it is.
Then, you simply go out and speak to as many of them as possible on social media, starting conversations saying, Hey, um, I’ve seen that you’re a tennis coach, and, and just to let you know, we’re helping tennis coaches right now to do X, Y, and Z. I thought I’d just reach out to you and see if you’d be open to having a conversation about how we could help you.
And, you know, 48 say no, 2 say yes, now all of a sudden, 1 you have a further conversation with, doesn’t do anything, 1 does do something, you make 1, 000, do it every day, and what are you doing? Well then you’re doing 30, 000 a month if it all went well. Now let’s say it doesn’t go well, but let’s say you do get your first deal over, and you get your first 1, 000.
What should you do then? Well what you should do then is go and hire a VA to go out and have these conversations for you. So you don’t have to do the grind anymore. And literally, they can go and speak to the 50 people a day. You’re like, well, how do I find the 50 people a day? Well, you know, go out and search the hashtags for tennis coaches, if that’s who you’re after.
That’s your best buyer. Go out and search for, you know, business owners in a certain area. Go out and search for photography businesses. And then go and start 50 conversations a day, and now you can pay a VA to do it. You pay them 50, rather than you do it. You get the book calls, you’ve got to book them onto a call, and start doing two or three deals a week.
And if you start doing two or three deals a week, at 1, 000, you’re going to average out 10, 000 a month, in five simple steps. Anybody can do it. Let me know, you’re like, Adam, uh, how do you know anyone can do it? Well, one, I’ve done it many, many, many times. Personally, we’ve sold tons of different trainings.
We sold trainings on branding, trainings on social media, trainings on business growth. We’ve helped thousands of clients. I’ve got many, many, many clients that we’ve helped become multi millionaires through business. We’ve done tons of stuff like that, and it all starts with that process. Take the knowledge.
What do you know how to do right now that you could package into a product or service? That would be worth 1, 000 to someone else. Step 1. 2. Who’s the best buyer? Who would it be worth 1, 000 to? 3. Where can you go and speak to 50 to 100 of these people per day? You’re going to speak to them on Instagram hashtags.
You’re going to speak to them on Facebook groups. You’re going to Contact them on TikTok. You’re going to speak to them on Pinterest. Are you going to go and get a database? Are you actually going to go and knock on doors? Maybe there’s businesses around the corner for you to knock on doors. You’re going to go to networking events.
You just got to have the conversation speak to as many per day. How are you going to book five to ten? calls in with you per week, where you can spend a bit of time, which is step number four, going through the sales process with them. And then finally, step number five, closing those two to three deals a week and giving them a great product.
Before you know it, following five simple steps, you’re at 10, 000 a month. Hopefully you found that helpful. Keep getting asked, Adam, if you were to start again, and you were wanting to earn 10, 000 a month, what would you do? That is what I would do. I literally would take knowledge out of my head about what I know, create a product for 1, 000.
I would say who is the best buyer of that product. I’d speak to 100 a day. I’d book 5 calls. I’d do 2 3 deals a week. You’re making 10, 000 a month, no problem. If I can do it, you can do it. Hopefully you found this helpful. If you have, tell me in the comments, uh, and, you know, give us some details about what you want to do.
And, you know, potentially we can see if we can help you further and go from there.