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Making 100 dollars a day without getting a job is actually not as hard as you might think. There are many legitimate ways to do it. And I will show you exactly how I am doing it and also what other people whom I know are doing to earn 100 dollars every day consistently.
You see, to make 100 dollars a day, you need to sell either products or services. I have done both, and I will show you how you can do the same even with no money.
(Of course, it’s possible to make $100 a day in passive income from investing, but that’s not what we are going to cover in this post.)
How To Make $100 Or More A Day Selling Products Online
First, let’s talk about how you can make $100 a day selling products online.
Let’s say if you are selling a product that can give you a net profit of $10, you just need ten sales a day to make $100.
If you are selling a product that gives you a net profit of $50, you just need TWO sales a day to make your 100 bucks.
What if you are selling a product that gives you a net profit of $100, you only need to make ONE sale a day to earn $100 in a day.
The higher your profit margin, the easier and faster for you to make a hundred dollars in a day.
So, what products can you sell to help you make $100 in a day?
Should you sell physical products or information products?
For physical products, your profit margin varies, depending on the product itself and your pricing.
Generally, the small and cheap items have a much higher profit margin than big and expensive items (branded luxury items excluded).
Here are some examples of low cost high profit margin products:
- Jewelry (earrings, necklace and etc)
- Phone accessories
- Children’s toys
- Women’s clothing
But, compared to physical products, I like selling information products much better for the following reasons:
- You have to invest quite a bit of money in buying inventory and risk losing all your money if you cannot make a single sale.
- You don’t really have a competitive edge in your market if you are just buying wholesale products and re-sell them at a higher price for profit. Other sellers can easily enter the same market and wage a price war.
- If you are not engaging the services of a fulfillment center, you will have to handle all the packing, shipping and customer services.
That’s why I always choose to sell digital products over physical products.
Your profit margin for information products is VERY high (up to 90% of your revenue is your profit) because there are almost no costs involved in creating the information products.
For example, I have been creating and selling information products (i.e. online courses & coaching programs) for the past few years.
The BIGGEST cost for putting together my online courses is my time.
Now, let’s look at how much money you need to start this online business.
To get started, you first need to set up a website.
A website is essential because you can use your website to build an online presence and establish authority in your niche.
Typically, you can get a decent website up with a $3.95 per month website hosting plan from Bluehost (I used it to set up this website).
There is also another web hosting that I recommend which is NameCheap.
Its basic plan starts at $1.44/Month.
So, you can expect to spend under $50 to get a decent website/blog up.
Next, let’s look at the sales process.
Marketing ⇒ Get Leads ⇒ Sales
(1) Do I spend money on marketing?
I get most of my traffic to my blog from Google organic traffic and also from social media.
So, marketing cost = ZERO.
(2) Do I spend money on getting leads?
Yes, I paid for an email marketing software called Getresponse to help me collect leads on my website.
An email autoresponder software is good-to-have because you can create a powerful email sequence to help you sell your products and convert email subscribers into paying clients.
This is a lead capture form at the top of my blog.
And I use this form to collect the email addresses of people who are interested to find out more about what I can offer.
If you are just starting out and have less than 1000 people on your email list, you can get the cheapest annual plan which is about $10 per month.
So, Getresponse cost = $10/month (if you are just starting out and have a small list)
Once you have built a big email list, you might need to upgrade your plan.
(3) Do I spend money on making sales?
Yes, because I use third-party payment processors to receive payment for my courses and programs.
Whenever I make a sale, I have to pay a small percentage of my sale as transaction fees.
Generally, it’s about 4%.
If I am selling an online program that is priced at around $100, my net profit would be around $90 after all the fees and expenses.
Here’s a screenshot of one of the payments I received for my course.
Best of all, you don’t have to MANUALLY sell your programs because the entire sales process can be fully automated using the email marketing software that I mentioned to you earlier.
Free Training: How I Generated A Full-Time Income Online With My Blog In Less Than 12 Months
[Case Studies]: How To Make Money Online With YOUR Hobby In 2020
How To Make $100 Or More A Day Selling Services
Selling services is one of the quickest ways to make extra money on the side.
It is all about solving problems and providing value for other people.
Just think about what services you have paid for in the past.
What services have you paid for before?
Why did you buy them?
Personally, I have paid for many services before.
Here are some examples of services that I’ve paid for:
- Spanish lessons
- Dance lessons
- Photography & Videography
- Business Coaching
- Interior Design
- Bridal Makeup
Each of these services either helps me solve a problem or offers a benefit that I really want.
Here are some benefits most people would be willing to pay for:
- Save Time
- Make Money
- Save Money
- Personalized Service
- Remove Pain
- Have Fun
- Become Happier
- Impress Others
To Get started selling services, you need to first identify what service you can sell.
So, what skills do you have that can be turned into a service that is already in demand?
Okay, before you start telling yourself that you don’t have any sell-able skills, I want you to do me a favor to suspend that thought for a moment and read on.
Believe it or not, everyone is good at something.
Sometimes you just don’t realize it.
This is because what is so natural and normal to you might be something that many people are struggling with and are even willing to pay you money to help them.
For example, if you are into fashion and have a great sense of style, this might just be a hobby of yours.
But what you might not realize is that people would actually be willing to pay you money to teach them how to dress well to impress their dates.
Here’s another example.
If you are a stay-at-home mum who is very good at cooking healthy and delicious meals for your kids in a very short time, you might feel this is nothing special.
But I bet there are many women out there who would pay you to get your recipes or coaching on how to do the same.
So, here’s what I want you to do next.
First, identify your top 5 skills.
If you are struggling to come up with ideas, it helps to take a look at the following:
- Books you usually read
- Activities you do in your free time
- Websites you frequently visit
- Tools you often use
- Results you’ve gotten for yourself or others
Also, you can ask your friends and family what they think you are good at.
Once you have identified your top 5 skills, I would like you to think about what problems you can help other people solve with each skill.
You see, all the services out there serve ONE purpose – solve problems for people.
When you have a human resources problem, you will want to look for HR consulting services.
When you have a tax problem, you will want to look for tax consulting services.
When you have problems with your Facebook advertising, you will want to look for FB ads consulting services.
Basically, what problems you can help solve will give you clues as to who your ideal clients are.
So, who are you helping with your service?
Are you helping other businesses solve their problems?
Or are you helping individuals?
Generally, it is easier to sell to businesses because they are always looking for help to solve their business problems and they also have the willingness and the ability to pay for solutions.
A few years ago, I started my own service business offering graphic design services to businesses.
The interesting part is that I didn’t have any graphic design skills.
What I did was that I found a group of talented freelancers online from platforms such as Fiverr and Upwork and asked them to work with me because I always have projects that I want to outsource.
Freelancers need work.
And I need talented people to deliver the work for my clients. It is a win-win situation.
So, if you don’t want to sell your own skills or don’t have the time to deliver the services yourself, you can consider Service Arbitrage.
Basically, you are reselling other talented people’s skills and services.
How you make money is that you will charge your clients at a higher rate than what you are paying your freelancers.
When I first started, I was making under $100 per sale for every project that I took on.
As I became more experienced, I started to sell high ticket packages and charge higher prices for the work I am helping my clients with.
Soon, I could make up to hundreds of dollars for every sale that I close.
Now, for all service businesses, the most challenging part is to get paying clients.
Where do you find them?
And how do you close the sale?
This is something that a lot of people struggle with.
Not everyone is a natural salesperson.
In fact, most people have never had any sales experience or training before.
For me, I had no sales experience prior to starting my own business.
To be honest, I even felt guilty about asking for the sale when I first got started.
Maybe you feel the same way.
But, I was able to overcome my fear and learnt the art of selling from my experience of growing this business.
So, what is it that I do that allows me to be my natural self and not feeling bad about asking for the sale?
A mindset shift.
Yes, what you need is to change your mindset from selling to genuinely helping and serving.
You are out there to provide value and offer solutions to people’s problems.
This way, you stay true to who you really are.
Also, it takes away the pressure on you and your client.
When you are genuinely trying to help your clients regardless of whether they will hire your service in the end, they can tell that you care and not just go after the money.
If you want to be good at selling, you need to understand two things:
- We only buy from people whom we believe can solve our problem and get us the results we desire
- We only buy from people whom we trust and like
Once you can internalize these two points, you will find it is not so hard to close a sale.
The fastest way to make $100 in a day without getting a job is to sell services. But if you don’t enjoy dealing with clients, then your next best option is to start a blog and create and sell your own information products.
Free Training: How I Generated A Full-Time Income Online With My Blog In Less Than 12 Months