Jon over at Smart Money Daily has a plan – it’s a plan to make $1,000,000 gross income in a year from his online projects.
Ok – you might think Jon’s thinking a little too big – and maybe he is – but the think I like about his plan is that it starts with:
‘$50 a day gross revenue average over a one month period’
I’ve seen a lot of plans to make money online and they generally start with the grand goal of the $1,000,000 figure and fail to actually name any intermediate goals. Big goals are great – but some manageable starting points are often the keys to getting to them.
Jon’s plan is based upon the quality book by the name of E-Myth Revisited (affiliate link) which I’d highly recommend a read of (and which you can get a CD of also). Many of you will be familiar with the E-Myth so I won’t regurgitate it all here – other than to say that I’ve found it helpful in thinking about how to transition my blogging from a job to a business.
By no means am I there yet – the challenge still lies ahead of achieving the theory laid out in E-Myth – but at least I’m moving towards that goal and learning a lot in the process.
Good luck to him. My goals are abit more modest – $100,000USD per annum, net income.
I’ll take the $100k too! ;-)
Thanks for the link Darren.
The reason for the goal of $1,000,000 is because it forces me into not thinking that I can do everything myself. To developing a scalable business model. One of the other important goals along the way was to begin outsourcing the work.
I have to admit it’s a little shocking to see it ‘out in world’ now, but I know that it is possible.
I think that anyone that plans to make more than just hosting fees from the monetization of a blog needs to have a plan for success. Jon has set a very high long term ultimate goal but has attainable, shorter term milestones along the way. This forces one to continually evaluate, re-evaluate, and adjust your processes to attain minor successes as you work towards your long term goal.
I think that many of us set goals but don’t sit down to really think about all the things necessary to attain those goals. Creating a plan for your blog, just like a business plan for any other endeavor forces you to think about those little things, those little successes that are necessary for you to achieve your ultimate goal. In Jon’s case, one million dollars per year.
Modest goals …
My goal for now is to have a solid average of at least 1 visitor per day ;-)