A Step By Step Guide To Making $10,000 a Month

A Step By Step Guide To Making $10,000 a Month

The CAOS Method (00:00:00)

  • The CAOS method is a step-by-step framework for starting a business and scaling it to $10,000 a month.
  • It is based on the idea that entrepreneurship is like building with Legos, where there are clear instructions that break down the process into manageable steps.
  • The framework involves four stages and does not require any special skills, multiple $10 million plus companies, or risking your life savings.
  • It demystifies the process of starting a business and allows you to take calculated risks.

Concept (00:00:57)

  • To start a successful business that generates $10,000 a month, focus on creating a lifestyle business that prioritizes fun, freedom, and flexibility, rather than a performance business that aims for growth, valuation, and investment.
  • Determine your Origin Story, Mission, and Vision (OMV) to identify your passions and interests, as this can guide your business idea selection and increase your chances of success.
  • Brainstorm business ideas that solve problems and provide value to your target audience, and don't overthink the ideation process; simplicity is key.
  • Narrow down your ideas to the three best ones and consider investing your earnings using a commission-free app like Trading 212, which offers a new debit card that helps you save and invest money automatically.

Audience (00:06:37)

  • To reach $10K a month, target customers with the financial means to solve their problems.
  • Quickly and cheaply test your concept by gauging people's responses.
  • Run an introductory event, such as a free webinar, to assess interest and distribution ability.
  • Prioritize distribution and lead generation over solely focusing on product development.
  • To test demand for a business idea, create a related quiz or questionnaire and send it to your network, or start a WhatsApp group and observe engagement.
  • If people are not willing to join a free group, they are unlikely to be interested in paying for a related product or service.
  • Consider using free business coaching resources, such as a free book and worksheets, as an alternative to expensive business coaches.

Offer (00:12:42)

  • To reach $10,000 in monthly revenue, aim for five sales per month at $2,000 per package.
  • Choose a scalable business model that aligns with this target, such as a web design agency or high-end medical school courses.
  • Charge a premium price for your product or service and validate your offer by speaking to at least 30 customers before investing significant resources.
  • Get close to your customers and interact with them in person to gather valuable feedback.
  • Starting a business requires hard work, dedication, and persistence, despite the misconception that financial success is easy to achieve quickly.

Sales (00:19:22)

  • The sales process consists of four steps: generating leads, scheduling appointments, delivering presentations, and closing sales.
  • Social media, paid ads, and personal outreach are effective methods for acquiring leads.
  • High-friction sales, such as those involving substantial offers, necessitate sales conversations to educate customers and provide solutions.
  • Building a sales team can assist with sales and other tasks, allowing for business growth.
  • Effective salesmanship involves diagnosing customers' problems and offering solutions, similar to a doctor's approach.
  • Sales should prioritize educating customers and solving their problems rather than being pushy.
  • Apple Store sales representatives receive daily sales training to ensure a positive customer experience.
  • Sales training is essential for building a successful business.
  • Richard Branson's philosophy emphasizes that businesses should aim to improve people's lives.
  • Sales play a crucial role in enabling businesses to enhance customers' lives through their products or services.
  • The "chaos framework" concept is discussed in the full interview with Dan.
  • For more in-depth insights and learning opportunities, the speaker recommends watching the entire interview.

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