When you make your first £10,000 (or $ or €) doing something you love, you never forget it.
It’s one thing to make a few pounds/bucks here and there but it’s another altogether to make that first 10k.
And that’s because, as I discovered earlier on in my career, that the activities that could make 10k go on to become significant income streams or even 6-figure businesses.
12 years ago this month I quit my job and declared publicly that I never wanted another job for the rest of my life.
The first thing I did as a stepping stone was to land myself a short consultancy gig at the BBC and walk away with £12,000. I knew then that consultancy was going to work out for me (and indeed it made me more than my previous salary but in a quarter of the time).
Similarly at Screw Work Let’s Play HQ when my first group programme made £10k in a few months I knew that the only way was up. I then launched my first large scale programme that made £15,000 in a few weeks. (The same programme later went on to make £50,000 in the same timeframe)
So that threshold of 10k is an important landmark.
How do you get to 10k?
If you’re not already there, how do you get to the point of making your very first 10k from something you love doing?
Well I’ve boiled it to down to a progression of 6 steps – right from the beginning when you don’t even have an idea of what you’re going to try to make money out of.
The key is to focus on just one of the steps at a time.
Here are my “6 Steps to 10k”:
1: Generate dozens of candidate ideas
(this is actually very easy when I show you how to do it properly)
2: Evaluate your options quickly & choose your basecamp idea – a starting point for something you’ll enjoy doing and that can make proper money
3: Take your basecamp idea & make something of your own out of it – something that stands clear from all the competition
4: Choose one of a dozen easy monetisation methods for your idea
5: Make your first thousand – when you know how, you can do this without elaborate marketing strategies and without even having a website. Make a £/€/$1000 and you know your new thing is something that people will pay for
6: Your 6-figure strategy – choose your strategy for recurring income and scaling to 6 figures, build your platform of prospects/readers/raving fans and hit that all important first 10k
Because when you can make 10k, you can make another and another and another…
When you know how each step really works it is a lot simpler than you would imagine. That’s not to say it’s effortless of course; you’ll learn a whole heap of fascinating stuff at every step and develop yourself enormously.
But the payoff is profound.
You feel like a different person when you’ve been through the whole process of finding something to pursue, making it happen, and making some proper money out of it.
At that point, freedom is in your sights – making a great income from something that you care about and that really excites you.
I’ve got to be honest though, getting through these steps on your own is hard. Most of us have been misinformed about how this whole process works and on top of that it’s difficult to maintain the motivation and discipline when you’re doing it alone.
Fortunately you don’t have to.
I’ve seen the transformational effect on participants of my programmes from being in a like-minded group and from having a clear plan to follow with regular expert input.
So I decided to create something new to lead people through the 6 steps to 10k
It’s called IDEA LAB and it’s the result of my work with 150 people over the last two years in the Screw Work Academy – people who have gone on to create hit blogs, get paid for their creative work, write bestselling books and quit their jobs.
Read all about it on the new website – click the logo below:
If you need to ask something before you book your place on IDEA LAB, there is a chat button on the site where you can leave a message for the team or even speak to me live.
PS. There are currently some specially discounted places available for people who take action quickly. The details are on the IDEA LAB page