This is a jist of what Ed Dale teaches in the thirty day challenge. The process has enabled him to create multi-million dollar businesses online and now he is teaching people like you and me how to do it. After participating in his challenge, I learned that his principals not only apply to finding niche markets, but to business practices overall. After all, the people who benefited the most from the thirty day challenge were the ones who applied the thirty day challenge methods to their existing business. Instead of making $10 in thirty days, the existing businesses made thousands of dollars using these revolutionary techniques.
This is a 5 step list in a nutshell what Ed Dale teaches with the 30dc method:
- Find a corner of a niche market gaining entry using keyword phrases. For example, ‘weight loss fad book’, ‘psych yourself skinny’, ‘organic weight loss’, etc. This way, you learn which phrases are untapped but profitable and which ones won’t get you anywhere.
- Write articles on these niche markets to see if there is monetary potential.
- Start selling an affiliate product, such as an e-book or physical product about your niche market.
- As soon as the magical number of 200 unique visitors a day is reached (roughly 1 sale a day for every 200 visitors; for a $14.95 book with a $7 commission that equates to $2,555 a year), develop your own informational product, an e-book, physical book, software package, newsletter, etc…
- An extra $2,555 a year is nice, but creating your own product will give you around 95% profit in the long term, the 5% being the cost to write the informational product.
- Selling your own product at 95% commission ($14.20) equates to $5,138 a year
- This is only based on 1 sale a day. increasing this to just 3 sales a day will make you $15,564 a year from a few weeks of work. Once this becomes an established business, you can move on to other business ventures.
Using this business model you can create a 6 figure PASSIVE income from a few weeks of work in particular niche markets.
Why is passive income good?
- Wikipedia definition: An income stream falling into this category is one where money is received usually on a regular basis, without continuing effort. This does not mean no effort at all; most passive income streams require great effort to start with.
- Good for a retirement plan, since you are creating money from nothing your savings aren’t trickling away. You are creating value from nothing and basically inventing money.
I hope you enjoyed the article, comments are appreciated!