#MonthlyIncome #BusinessAdvice #FinancialSuccess
Hey there, if you’re making over £5,000 a month, congratulations! That’s a fantastic achievement and it seems like you’re doing something right in your business. Whether you’re a freelancer, a small business owner, or a savvy entrepreneur, reaching this income milestone is something to be proud of 💪.
For those of you who are curious about how to reach this level of income, or for those of you who are already there and want to continue growing, I’m here to share some advice and insights to help take your business to the next level.
Starting a Business:
So, how did you start your business? Was it something that you’ve always been passionate about or did you stumble upon a great idea? Perhaps you found a gap in the market that you were able to fill with your products or services. Whatever the case may be, it’s important to have a clear vision and a solid plan when starting a business. It’s also important to be adaptable and open to pivoting if things aren’t going as expected.
Enjoying Your Business:
Do you enjoy what you do? This is crucial because being passionate about your work will keep you motivated and driven. If you’re not enjoying your business, it might be time to reassess and figure out what changes you can make to turn things around. Remember, your business should bring you joy and fulfillment, not just financial success.
Saturated Market:
Is the market for your products or services saturated? If it is, how do you differentiate yourself from the competition? Finding your unique selling point and standing out in a crowded market will be key to your success. Whether it’s your excellent customer service, innovative solutions, or superior quality, make sure you have something that sets you apart.
Advertising Budget:
How much do you spend on advertising? It’s important to invest in marketing to reach your target audience, but it’s equally important to track your return on investment. Consider different advertising channels such as social media ads, Google AdWords, or influencer partnerships. Test and optimize your strategies to find the most effective ways to reach your audience.
Revenue and Profit:
How much revenue and profit do you make? Understanding your financials is crucial to the success of your business. Keep a close eye on your income and expenses, and regularly assess your profitability. Set realistic financial goals and create a plan to achieve them.
Online Business:
Is your business primarily online? The digital landscape offers endless opportunities for growth, but it also comes with its own set of challenges. From building a strong online presence to competing in a global marketplace, there are unique considerations for online businesses. Make sure you stay up to date with digital marketing trends, e-commerce best practices, and customer experience optimization.
Replicating Your Business:
Do you think it would be hard for someone to replicate your business? If so, what makes it difficult to compete with you? Whether it’s your industry expertise, proprietary technology, or loyal customer base, identify the barriers to entry in your market and capitalize on them.
Social Media Impact:
How much does social media affect your business? Social media plays a significant role in today’s business landscape, impacting everything from brand awareness and customer engagement to sales and customer service. If you’re not leveraging social media effectively, you could be missing out on valuable opportunities to connect with your audience and grow your business.
In conclusion, reaching a monthly income of over £5,000 is a significant milestone that showcases your business acumen and hard work. However, success is not an endpoint but a journey of continuous improvement and adaptation. By staying informed, embracing change, and consistently striving for excellence, you can position yourself for even greater success in the future. Keep pushing forward and never stop learning and growing. Here’s to your continued success! 🌟 #BusinessSuccess #Goals #GrowthMindset
Why would anyone wase their time responding to these questions?
The answers to your questions are: yes, yes, yes and yes.
All these questions sound like you don’t even want to start. it’s not like I made 20k a month gross starting out it took YEARS and years to get there for me. just start somewhere and something. everything is saturated.
Yes.
If you do can you say what you do – I make computer games.
How you started it? – With $3,000, some friends, some contract artists, and my talent.
Do you enjoy your business? – Yes.
Is it saturated? – Yes
How much you spend on ads? – Nothing
How much revenue/profit you make? – $300k-$400k a year. Varies from year to year to year depending on how many games we release.
Is it an online business? – Yes.
Would it be hard for someone to replicate? – Yes.
How much does social media effect your business? – Enough for us to have a social media manager on staff.
Onshore £6,000 – £12,000 per month depending if I choose to work weekends or not.
Offshore £5,000 per week, usually 2-3 week trips.
Instrumentation & Control Technician, 4 year apprenticeship got me here.
I use an affiliate program selling a program that helps people – the affiliates walk in, I show them how to move the product – they focus on getting a customer in the door and get half the money from the sale.
of the other half 40% then goes to the professionals working the back of the store (prevents refunds which can be hard work, people are stupid and need a living “manual” to tell them how to not be stupid) and the remaining 10% goes to me which I use to cover my cost of living and pay for payment processor, website, other work/projects in development etc.
Maybe hire some more pros to work the back of the store every now and then and train them up.
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It is vital to make sure the people working the back are the product so the affiliates don’t try to steal the product, and the people working the back usually understand it is not worth their time to try and sell AND run a product like mine so everyone focuses on doing their job really well and we all make bank.
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It is easy.
yes yes yes yes yes a couple hundred k yes yes a lot
I sold the company but we provided an enterprise hardware/software system for an aviation niche. I started it by developing the main products on the side then bidding on RFP’s and using the down payment to finish it. Enjoyed it — yes but I was getting burned out. Saturated — no. Ads — not really, just sponsored programs and seminars in the main industry conference to get the logo out there. Rest was news releases to main industry site and newsletters. Revenue — $4MM gross $800K net the final year. Online — no. Hard to replicate — not if you’re in the industry I suppose but it takes a lot of domain knowledge and development time (12 years off and on for me). Social media — not relevant.
Yes. I started in affiliate marketing and slowly climbed the ladder, i actually moved to China which fast-tracked my career, i ended up as COO which is where i really started to earn. sold 1 company, advised on a 2nd merger, joined a 3rd company as COO and sold that one. Yes it was saturated, it was hard work, long hours, lots of networking, lots of diplomacy, lots of pitching. we didnt spend on ads, but we had lots of networking, its would be easy to replicate since its an ad agency, at the time we were pulling around 8mil a year something like that, but our team was like 60+, so it was a reasonable sum, but net it was breakeven basically.
Yes. When I started my business 10 years ago, I wasn’t. The company has always been profitable. By the time I sold it, my “salary” was $18K/month not counting profit distribution at year’s end. It took 10 years for me to get there, though. A lot of work and sweat.
NO
what the fuk?
Mobile detailing started with about 3k. Very saturated but there’s ways to stand out. Around 1k a month on ads. Not online. Harder now then when I started to duplicate. Social media is new to the business but hasn’t helped yet
Any of you need a hand in doing what you are doing? Like an online assistant.
hmu I am experienced, available to be hired and will deliver more than the expectations.
P.s. I’m tired of the scammers
When I was self-employed as an ISV, £5,000 or more definitely happened, but not reliably every month.
I make my money from investments these days. Invested from my day job and side hustles over the years. Here’s what I did…
https://sideprofit.net/my-solopreneur-projects-over-the-last-20-years/
I woukd suggest experimenting to see what works for you. Different things work for different people.
Property is usually a pretty solid earner but now is probably the worse time to buy unless you can find a bargain. In the next year or two there should be lots of great deals.
Crypto bull market starting. Massive opportunities over the next 2 years. Don’t invest more than you can afford to do. Don’t do leverage. Don’t buy and hold shit coins. Take profits instead of getting greedy. A small percentage of net worth invested in crypto is a no brainer for me. It’s now a larger percentage though.
Yes.
If you do can you say what you do – I offer contract web development services at the rate of $3k/month
How you started it? – I am a professional web dev so my friends know it, one of my friend referred me to his uncle living abroad who wanted a custom video course app built, so I started on contract basis and then got more referrals.
Do you enjoy your business? – Yes.
Is it saturated? – Yes, a lot.
How much you spend on ads? – Nothing
Just search the previous questions like nearly every day to get these answers. Also, stop being a wantreprenuer.
Earning over £5,000 a month involves a mix of factors. I recommend diversifying your income streams, exploring online business opportunities, and optimizing social media for growth. The key is consistency, adaptability, and smart investment in advertising to reach your target audience.
AI education for companies/entrepreneurs
Started a year ago with a newsletter, now consulting + education
Enjoy – very much so. I get to write and educate, which I love doing
Saturated depends on market definition.
Profit margins 90%, revenues sufficient for it to be my full time business now for 3 people
Ads about $1500/month tests at the moment
Online yes but also some in person training for certain companies
Hard to replicate – it’s knowledge based. But because AI knowledge is new for everyone it would be easy to acquire. Just need writing/teaching ability too
Social media drives majority of audience, subscribers
I started an insurance agency. Made about $10k my first year and $30k my 2nd year.
I actually reinvest quite a bit into my business. I only need about $100k so when I start to make more than that I typically hire another employee. 12 years in now and I gross about $40k per month but I take home about $10k after taxes. I try to work sparingly now.
I do around 5K Euro a month, so close to that. I’m a software engineer. Would love to start something completely mine, but consulting/contracting keeps food on the table, pays all the bills, enough to travel and save for retirement.
Content Creator started with $0 and it’s very saturated, but like any field only the passionate and hard working will survive. You can make a faceless TikTok page and profit $10k a month with just a few hours a week of work. I have a few money printing pages
OP – first step to not failing is not making excuses for that failure before it happens…
$10-15k/mo. That’s at about 20 hours per week billable. I do cybersecurity consulting. I enjoy what I do. This next year I’m planning to adjust some contracts at renewal that should push my income higher. I’m also working on releasing a library of materials, some for free and some with a subscription to create some passive income as well. Also next year, I expect to have sub contractors helping with some of the service delivery to drive income higher without purely trading hours for dollars.
$10-15k/mo. That’s at about 20 hours per week billable. I do cybersecurity consulting. I enjoy what I do. This next year I’m planning to adjust some contracts at renewal that should push my income higher. I’m also working on releasing a library of materials, some for free and some with a subscription to create some passive income as well. Also next year, I expect to have sub contractors helping with some of the service delivery to drive income higher without purely trading hours for dollars. I don’t spend anything on ads. Margin is pretty high, as consulting is low overhead. It would be easy for someone with cybersecurity experience to replicate, and I have helped about half a dozen folks start their own firms so far.
Yes, Attorney
Man it seems you are searching the Graal answer for how to live life, you will fail at the first issue with that kind of mind xD
Will be doing 5k before end of year I reckon. Started my journey in July.
A marketing business.
Started it by working for free.
Incredibly saturated.
Spend nothing on ads.
It’s all profit.
It’s an online business.
It would not be hard for someone to replicate.
Social media has no effect on my business.
Hey buddy
I have just started my new business. It will take time to evaluate all of this .best way to find out is to do itself .
Web Dev Agency.
making $30000 MRR with decent profit margin
I was making £15k pm up until COVID in travel. That took my business. Still not recovered. Would like to launch again in travel… looking at the eco- approach using rail trip packages.
I do QA & Compliance Monitoring. Started 3 years ago. The market isnt saturated for the sectors I target, but it is competitive. My projects vary but right now my revenue is $8k a month roughly. I just hired an VA- so that allowed me to negotiat a better contract with the companies I got now. I started out networking through people i know and mainly relied on word of mouth referals or recommendations to where i can expand my networking. It was so slow in the beginning, but then I happen to bump into a former co-worker who had some good connections to help me refine my business model and strategy that made all the difference. The funny thing is now that im here, I dont want to be tied up dealing with the day to day aspect. I want to get to the point I can scale and just focus on locking in contracts and montoring my own workers.
Can you replicate the type of service, probably. Key is to have a unique competitive advantage.
Event Management in Southern California. We do any type of events but most popular in weddings, bachelorette parties, engagement parties, and brunches. I absolutely love what I do and enjoy working, it’s a newer niche so it mildly saturated and my “competition” is so out of my league it’s negligible. I’ve owned the company for 8 months after purchasing it earlier this year. Business was been around for nearly 3 years with great reputation that has stayed since my ownership. Revenue varies between 6k-15k with no ad spend and i’m averaging between 40%-50% margins. Not an online business. I personally would say its hard for people to replicate correctly, most see what I do and think they could do it themselves but those are the same “competitors” who come and go within 6-12 months. Social media is a pretty big component to our organic traffic that we get but we get tons of referrals and word of mouth bookings. I plan on spending on ads rolling into the new year now that I’ve rebuilt our website, systems, and SOPs for the last 7 months. This month only had 2 booking but translated to about $5500 net since they were both larger parties. We normally do about 5-15 booking per month but some of those might only bring in $500-1k in revenue if it’s a smaller event. Please ignore any typos or weird sentences I typed this on my phone, I’ll answer any questions if anyone has any.
I make 1 million a month
Consultancy £30k a month. 15 years experience supply chain
Consultancy, supply chain £30k a month
I started a design digital agency a year ago and this is the first month I crossed the $5,000 a month. I had to pívot a lot though small wins right?
Here my new site.
https://www.no-mad.ca
*Do you make over $5000 a month ?*
Yessir the business normal does over $40 k usd a month with 25% profit margins on average!
*If you do can you say what you do*- I’m an international electronics broker, I’m buying resell 10,000s of electronics locally and internationally a reasonable profit
How you started it? – I started at a necessity original selling business was a flop. Bills had to be paid. I didn’t want to get a job so I started fixing Phones as a side hustle. I noticed that I made more money but I can reselling electronics versus trying to fix them.
Do you enjoy your business? – Yes it pays the bills. The customers can be a drag borderline annoying and delusional yet comes that with the territory!
Is it saturated? – Yes every day someone thinks they can get into electronics brokering, buying and selling phones. However, its reach a sufficient level requires business acumen and professionalism . That most people don’t possess.
How much you spend on ads? – Nothing currently have the highest rated Google My Business in the area at over 600 reviews.
How much revenue/profit you make? – 600k This year- will average $150k in profit. Varies from year to year to year depending on market demand
Is it an online business? – this is a physical business that requires individuals to meet with customers in person
Would it be hard for someone to replicate? – It’s not difficult to start, however scaling to the point of where Im at is a challenge for most would be brokers. Most flippers have a challenge getting passed $10k!
How much does social media affect your business? – social media is becoming a more prevalent focus to reach a larger local audience