- And most while they think small,
They're thinking,
"While I'm making, you know, 13, 14, 15 bucks an hour.
How can I get a dollar raised per hour?"
Screw that.
That's not how you become successful financially.
You're trading hours for dollars,
and why I teach all my students.
The first step is,
you trade your hours for high dollars.
I don't want to make 15 bucks an hour.
I want to be able to pick up the phone and close,
I want to make 200 bucks per hour.
- When I flash back to where I was back in the day,
you know, I was hearing myself say stuff like this.
I'd be like,
"Dude, $4,000 a month sounds pretty sweet.
If I can get a few people to pay me that."
It doesn't directly drive revenue.
You can't point your finger at certain statistics and say,
"This is how much money that produced."
because $4,000 a month,
I'll never forget this.
A guy named Gregory taught me this.
He was a client of ours.
And you know what he said to me,
he said, "Jeremy $4,000 a month is more than both
of my Mercedes and my house payments.
A lot of money.
The issue with that, was the lesson I learned here.
Just didn't have anything to do with driving revenue.
So it wasn't easy to justify.
Just so you guys have a clear perspective on,
you know, what will I do?
I'd like you guys to start up here in this five day window,
we're going to take a look at some
of the online service business list.
We're going to talk about the pros and cons
of each one of them.
This is a reminder, we have our marketing agency,
a social media agency, the virtual assistant.
We have just being a freelancer, you know,
selling single skills like the web designers,
the copywriters, content creators, email marketers,
like Dan mentioned, you know,
he was a one man show,
with the copywriting agency started,
you know, any just one skill once again,
more of the freelancers.
Let's start off with our virtual assistants.
Virtual assistants, otherwise known as VAs.
They get paid the least and they do a ton of work.
One guy that I hire consistently,
you know his name's John John.
And I think he's over in India if I'm not mistaken.
And to be clear, I love John John.
You know, I love his work.
I love his work ethic,
he calls me sir at the end
of every single sentence that he ever sends me,
tell you what man,
I can have this guy do anything.
It doesn't matter how long it takes.
He'll get two laptops at once,
and he'll just sit there for 12 hours a day,
and just knock out tasks for like 50 bucks.
You know, for things that'll take him a week.
It's crazy you know,
like the amount of hours you could be paid anywhere
from like literally a dollar, maybe $5 most an hour.
If you're in a virtual assistant role,
and I know some that might brag
and say they get paid like 10 to $20 an hour,
charm change in terms of online service based business,
given that you're going to put an extreme amount of time
and effort into it,
which definitely is not my cup of tea,
is not the way I want to direct you.
It look, if you want to be a virtual assistant,
you might as well just hop off this broadcast
cause this is not what we're going to teach you.
You're better off working a regular job,
than being a virtual assistant to,
you know, businesses that are online.
So the moral of the story,
there are literally no money.
In being a VA, in being a virtual assistant.
Let's take a look at being a freelancer.
Freelancers remember,
they sell specific digital skills.
That could be copywriting, web design,
you could be an SEO specialist,
you know, maybe you're just an advertiser,
maybe doing video editing
or you're taking photos and editing graphic design,
even accounting, you know,
technically a freelancing skill.
I would even lump lawyers underneath this category
because it is selling a specific skill set to people online.
- And a lot of people start this way.
It's good.
It's a stepping stone, right?
You have that skill set. It's great.
Like you get started with that, right?
And where if you hit the six figure income.
And I hit that six figure income
with my first high income skill and that's wonderful.
But if you want to go to the next level,
then you need some more leverage.
So write this down.
It's about leveraging your skill,
to go to that next level.
And it's not about doing something new.
Cause a lot of time,
people they develop certain skill sets,
but then when they start a business,
that business has nothing
to do with the skill set they have developed.
That's not being smart.
What it's being smart it's,
taking the skill set that you have,
I'm going to leverage this, to start their business.
And you see why having the high income skills,
not only when you're working with clients,
you're developing your experience
and gaining those business acumen
so that you're actually learning on
basically your client's dime.
You're learning on their dollars while you're perfecting
and starting their business.
It's a big difference.
- You know, I started that way too.
Just as Dan mentioned.
He started as a copywriter,
technically back in the day
one of my failed businesses was an SEO agency.
So I just worked a job,
where I was the head of marketing for a guy,
who I sold a cell phone to,
who then later hired me for that role.
And I mean, I had to learn everything under the sun.
You know, one of the things I learned, it was SEO.
So I remember I had one guy who's down in a,
in one of the keys here in Florida,
you know, long story short,
this guy, his name was Captain Jack,
he had hired us, for SEO,
to get his boat chartering company down in Almarado
to take off a little bit more,
but we were only paid about 800 bucks a month.
So although sure,
I mean, that might be good side money for a lot of people.
I don't want you thinking small.
That's the whole point of what I'm trying
to say here with the freelancing thing.
Like sure. You get to sell a skill for a cost,
and like Dan said,
you know, back in the day,
Hey, $10,000 a month, $120,000 a year.
That's that's a lot.
That's a lot for a lot of people.
- So happy.
- I want you to skip some stepping stones here,
in this challenge.
Okay, sure. Along the way,
Hey, you end up at six figures in a year, that's great.
That's not my intention for you.
I want you to go well beyond that.
It's going to be possible for some of you
to take this model seriously.
But to be clear, when you're a freelancer,
you're just selling skills for a cost.
That's all it is at the end of the day.
Benefit of freelancing,
instead of working a job,
you do get to work with multiple clients at one time.
So you can end up,
you know, charging 10 people a thousand dollars a month
and hey, easily.
Now you're at 10 K a month. Just like that.
You know, you could charge 10 clients $2,000 a month.
You're at 20 K.
But the problem with the freelancing,
you're limited on your earning potential,
because your large is selling your own time and effort.
So like, there's nobody else
to help you when you're a freelancer.
It's you. Selling whatever skill that you might have.
I mean, hey, you know, like I said,
that might sound great for some people.
Once again I want you
to skip some stepping stones in the process
of what Dan and I had to learn the hard way,
you know, go to the better model.
You know, there's only so much time in a day
that you can work.
Therefore freelancing is,
is just kind of a step up
from being a virtual assistant in my eyes.
They get paid more, still, very limiting.
So a Maricio here said,
"What do you think of running a VA business?"
If you're in a position,
where you have a bunch of VAs,
that you're essentially pimping out their time to businesses
might think of that as lucrative,
because you're managing a group of people.
However, the problem is, they're just virtual assistants.
What's the middleman money on a few dollars an hour.
Even if it's between a hundred people.
That's just not a lot.
And you still have a pretty big headache
of the operational management of that kind of business.
- Here's the way I want you to see it.
In the beginning, for most of us,
first, we don't have a way
to make a living. Right?
We say to go to school,
you get good grades. You get a job.
For most of us, first of all,
we have from zero, we get the first day,
which is the stage you want to get to,
it's just some kind of income.
It makes sense, right?
Give me a thumbs up if that makes sense. Right?
Some kind of income. Something, right?
They get that first job.
Then the next goal,
once we get that, it's how can we increase that income?
How do we maximize the income?
So from a good, it could be a low income job, right?
Making X amount of dollars,
and most while they think small,
they're thinking,
while I'm making, you know, 13, 14, 15 bucks an hour,
how can I get a dollar raise per hour?
Screw that.
That's not how you become successful financially.
You're trading hours for dollars,
and why I teach all my students,
the first step is, you still trading hours for dollars,
but with a high income skill,
you show your hours for high dollars.
I don't want to make 15 bucks an hour.
I want to be able to pick up the phone and close,
I want to make 200 bucks per hour. Right?
So it's not a linear from 10 to $20,
or from 10 to $21 is,
how do I go from $20 to $200 per hour?
Definitely, when you can do that,
your hourly rate has gone up.
Yes, it has gone up significantly.
But there's still a problem.
The problem is, you only have 24 hours a day, right?
So the next stage,
is not just how do I maximize my dollars,
because you can only go so great.
Now my hourly rate is $10,000 per hour.
Someone to hire me to full consulting,
it's 10K per hour, $166 per minute.
But that's still limited.
That is still limited.
Business, it's about leverage.
It is about how do you go beyond,
so your earning ability is this write.
Write this down.
It's disassociated with your time.
So, first time for money,
then is more time for money.
maximum money,
that has nothing to do with your time.
You need a disassociate.
If you want to create more leverage.
So that means, it's not just a skill set that you have,
now you got to come find it with some additional skill sets,
to go to that next level.
And then at the end,
once you have that,
the highest level, is that your money working for you.
Now it's your money working 24 hour.
Now you're like an investor.
You're making investment.
You're making money through the dividends,
the interest, through return
to all the different assets that you have.
That's the next level.
But here's the problem.
Most people, they got a fucking job.
They try to jump into this.
They don't understand these stages.
You got to go through.
It's like people making minimum wage,
and they go buy a piece
of property with no money down, right?
They leverage like to the hill,
and suddenly something happens to their property.
A tenant moves out,
a toilet breaks, they can't afford it.
They can't even afford one month of payment.
They don't understand.
They have not had the income coming in.
They have not worked to increase the income,
to be able to do these type of investments.
So this is it.
It's not creating wealth.
What I share with you,
it's with the stage that you're in,
and you focus on, what you do focus on in those stages.
You look at anyone who is wealthy, pretty much.
He follows one of these things.
Some kind of skills, some kind of business,
and then they graduate to investments.
Makes sense? Yes?
- We've got a question from Joshua.
He says, "I have a decent real estate background would
doing wholesale real estate online in the US and Canada
working for this model."
Will you work for this model Jeremy?
- You will work it.
To Jeremy.
- Yeah. Joshua.
I would love for you to watch this year,
and at the end of the class,
you come back into VIP chat
and you let me know what you've think on that question.
- Yes. Oh good.
- And then second question was,
Sorry Jeremy, just one more other question I saw here was,
"I know bookkeeping.
How can I maximize my income
using an online service business?"
- Yes.
- I think it's the same answer as well. Right Jeremy?
- In this first training to be clear,
we're going to cover the model for you guys.
I believe in the second or third class,
that you'll have a very clear answer
to that question while I'm always willing
to circle back and answer it directly as well
if you guys would like,
so let's work our way through this,
so you guys can understand it.
Yeah, so back to the point here, freelancing.
Just kind of a step up for me in a virtual assistant,
still very limiting.
One of the other online service businesses that I mentioned,
is the social media agency.
Now this became very popular, without a doubt.
It is a very simple business model,
and it is a form of being an agency.
So businesses, you know,
so you guys understand that businesses all over the world.
They're currently paying social media agencies
to create content,
you know, post that content,
and then just like manage the
business's social media account.
You know, managing comments,
DMing people back and forth,
coordinating like, content deals,
- Making a pose,
- Actually Jeremy, when I first started with Dan,
I was Dan social media, one man agency.
- There you go
- With three clients, and then Dan says,
fire the other two clients,
I want to be your only client.
- That's right.
- Yeah. There you go.
Yeah. And to be clear, like you can do this by yourself.
You can also have like a few staff members,
I'll tell you one thing.
You know, when I first got started,
this was one of the main services that I sold.
You know, we were charging people right out the gate,
$1,800 a month,
then we found out between the three of us,
that it was just wasn't enough money.
And we started charging four K a month for it.
We had people paying us just to do this kind of basic stuff.
And with a few staff members I had,
the big issue was,
it was still very time and effort intensive,
and on top of that,
we weren't driving revenue for the business.
So all those same kind of thing, you know,
like four K a month,
look, I totally appreciate it.
If I flashed back to where I was back in the day,
you know, I was hearing myself say stuff like this,
I'd be like, dude, four K a month sounds pretty sweet.
If I can get a few people to pay me that.
Like, why wouldn't I want that?
You know, like, are you trying to demonize that?
And to be clear, I respect where you're at.
If you think that that's a lot of money,
but the biggest thing
that I want to make sure you understand,
is that when you're responsible
for driving revenue for a business,
that can help you get paid exponentially more,
than if you're just managing something
like somebody's social media account.
Cause although sure,
you can technically justify it as a part
of the moneymaking process,
it doesn't directly drive revenue.
You can't point your finger at certain statistics
and say, "This is how much money that produced."
And so that was the big problem that I noticed.
You know, we weren't able to retain clients
for a long duration of time,
cause four K a month, I remember,
I'll never forget this.
A guy named Gregory taught me this.
He was a client of ours.
And you know what he said to me?
He said, "Jeremy four K a month is more than both
"of my Mercedes and my house payments.
"It's a lot of money."
Even though to me,
it didn't feel like a lot of money.
The issue with that, was the lesson I learned here.
Just didn't have anything to do with driving revenue.
So it wasn't easy to justify.
So once again, just be clear,
whether you could work
with multiple businesses at once,
your monthly retainer really can't be much more
than a thousand dollars.
Because once again,
it's much more than
what a lot of people have much more value in,
that they get to use more consistently
that do help drive revenue.
So you just become limited pretty quick
in terms of what you're able to do.
So still, I mean, like I was saying guys,
it might sound great.
And I respect that.
I'm not trying to demonize it in any way, shape or form.
I just want you to hear me out here and let you know,
I'm trying to get you
to overcome the hard lessons that I learned.
I don't want you to start off as a social media agency,
because I was there.
And I felt that was pretty limiting,
and I've learned so much since that,
I feel it's going to be much better for you.
I wish somebody would have came down to me and said,
"Jeremy, this is exactly what you need to do."
And I wish I would have skipped over
that whole social media agency phase.
You know, I remember, longterm,
it's a very stressful business model to run,
because you're just limited on cash,
you have to have staff in most instances,
unless you just want to be a freelancer,
like I said, you can't really charge much more
than a thousand dollars,
maybe 2000, you get up to the level I was at 4,000,
you know that's great, but still,
you just really want,
aren't going to be making as much as you could.