andrewormes.com

andrewormes.com

Month: March 2015

Time To Get That Recurring Income

The three big things I want to concentrate on in 2015 are; building out into my own online store, outsourcing my business and building a recurring income stream.

Today I want to talk about the recurring income stream. I have built a free membership group from one of the t-shirt niches I am involved in. I set it up way back in October and it has over 250 members today.

That group runs by itself now. I have literally put one post inside the community when it started and over time as I have added people they answer each others questions and post videos for help. I do not have to do anything.

The next step is to create a bridge page that takes people from my Facebook page to a sales page before they become a member. So I hired a copywriter to write the sales page. I found my copywriter on Facebook by using the Cult of Copy Job Board.

I got my copy back a week ago along with an email sequence and I am currently constructing it into a slick funnel on Clickfunnels.

This is where I am at so far. I need to set up a recurring payment button with Paypal and I’ll be ready to go.

It sounds simple but I’m sure there will be a couple of road bumps over the next few days.

So the plan… I am going to offer new members $1 for the first month and $10 per month after that. I will setup the funnel and use Facebook and Google ads to attract new customers.

The DREAM is to have 1,000  paying members. The first big mile stone is my first 10 subscribers, so let’s start there!

GOAL – Have 10 paying members by the end of May. Maybe that’s not ambitious enough, however I am moving to Australia for two months and I leave in just five days. I have a cruise planned for one week and will be doing a lot of visiting for the first week I am there. Maybe getting 10 members will be too ambitious… We’ll find out.

Like I have mentioned previously a recurring income is great because you will have guaranteed money coming your way every month without having to do anything. This will allow you to take time away from your business without worrying about how you will pay the bills next month.

This is just the beginning. Once I get this down and I know the process, it’s something I can replicate into other niches that I currently sell physical products.

Mum I Made It! – Breaking Personal Records and Hitting Mile Stones

Yep I did it, last week I cashed out my biggest win ever playing online poker. $2200!

Onto the real news…..

Last week, (when I was off playing poker) I crossed $100,000 in t-shirt sales. A HUGE mile stone for me, being that in 2013 I barely made $10,000 from my own business. I won’t lie 2015 has been SLOW so far compared to August-Dec 2014. I expected to crush $100k a lot faster than I have done.

Screen Shot 2015-03-25 at 12.14.40

What have I learned?

OK so while it’s good hitting this figure, I do feel like it’s a lot later than I expected. Going by the big months I was having back in August I should have hit this goal by December at the latest.

This business is not a guaranteed recurring income, a t-shirt that sold last month might not sell this month or you could get unlucky and not sell many t-shirts at all across the month. Facebook could close your account or tomorrow they could decide that bombarding their customers with t-shirts is against their terms of service. Sorry to be negative but you have to think about things like “If Facebook shut tomorrow or they blocked my account how would that affect my business?” Are all your eggs in one basket?

Start building your own brand on your own website, with your own list and your own store. Something YOU have full control over. You can bring in new products all the time and start your own membership sites etc. While you’re using Teespring and these other places you don’t have full control. I recommend Shopify if are thinking of branching out into your own store.

Build a team of people, outsource as much as you can and  get them working non-stop. As soon as you stop working every day or if you stop for a week the money will stop flowing in.

The biggest thing I realised is that having a recurring income stream is very important. Even today if I take a vacation I might continue to make money for the first week but if I have no one there to launch new campaigns then the money stops coming in. IF however I took the time to build a sustainable evergreen membership website where 1,000 people pay me $10 a month, no matter how many weeks I took off I would know that my bills will be paid because I have $10,000 coming in.

As for t-shirt selling tips, get a good designer and do your research for good ideas. There’s so much info and help out there. You can start by joining the t-shirt bomb group on Facebook. Last time I checked it was a free course and the group is very active.

 

 

 

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