How Much Extra Money do you want to make?
If you sell recurring SaaS:
If you sell one time products:
I used to have a hard time visualizing how to make a million dollar. Coming from a background of earning six figure a year that involve punching a virtual time card day in and day out for close to 52 weeks less vacation days and public holiday. That’s close to 10 times in value. Better yet, it mean I need to work 10 times more hours in a year. Impossible! That’s when I was selling my time for money. That wouldn’t be a problem if I am immortal. Well, even if you are immortal, it’s still a awfully long and boring way to earn a million dollar.
Then it struck me one day when I was scribbling on a sticky note and started writing down a considerably smaller number, a more manageable one, a number that you feel is more grounded and real. For me, that magic number was $50. So, the idea was to create a portfolio of products that made an average of $50 a day. Then I started multiplying $50 by 30 days and then by 12 months. Hey, that’s $18,000 a year. So that means just 5 lousy portfolio of products got me out of the wage slavery! And it felt – really doable!