How I’m making $50,000 in the first half of 2020

Did you have a resolution at the beginning of this year? I did. And as we near the end of the first month of 2020 (flew by didn’t it?!) are you 1/12th ahead on the journey towards achieving your goals?

The truth is that I don’t feel like I’m 1/12th of the way there. That being said, it is better to come to this realisation after 1 month rather than after 12 months.

Create a system for accountability

In the past, I have done what all the gurus say about setting clear goals. In fact, at the beginning of the year, I clearly articulated my goals and wrote down all the steps I needed to achieve them. Was this enough? Why is it so hard to take the steps you know you have to take to get to where you want to be?

The answer is that goal setting is simply not enough. We live in a world full of distractions, and in my case, I found that my lack of accountability was the one thing that sabotaged my goals. I had not found a way to keep myself accountable for the goals I had set, and I kept myself in danger of not reaching these goals if the trend was not urgently reversed.

For this reason, I decided to return to blogging after so many months. Writing is one of the few ways that through which I can keep myself accountable and I have to use it to my advantage. This works for me because I love writing. You might find that something else works better for you. For example, you might feel more comfortable talking in front of the camera so video blogs (or vlogs) might be a better way to keep yourself accountable. I don’t think it matters which avenue you choose – just get to know yourself and keep yourself accountable.

Revisit the goals

So before I continue, let me revisit my goals for 2020. My hairy, audacious goal is to make $50,000 by 31st of July 2020.

I know this might not sound very hairy or at all audacious to some people reading this, but for me, it is very significant. $50,000 represents my annual full-time salary. So my goal really is to earn the equivalent of my annual full-time salary on the side while working full-time, and being a mum to 2 children under 5. And I won’t even entertain any thoughts or suggestions stating that this cannot be done, because I already have an action plan! So here’s how I will do this:

  • An e-commerce website. I will create revenue through my site, and also increase the site’s value to a point where I will have no problems selling it for $50,000.
  • Affiliate marketing. I will earn revenue by promoting any products or services that I find useful and earn affiliate commissions by recommending them to others.
  • Niche sites. I will earn revenue by creating sites in certain niches which are attractive to investors, and selling these websites for a profit. Some of these sites will earn money through affiliate profits as well, but I have created a separate category for this because I plan on selling the websites.

Evaluate my assets

Starting with a positive mindset, it is necessary to remind myself of why I can do this by listing all the things that I do have disposal to help me make this work.

Tools/Assets:

  • A computer
  • Some knowledge/experience with Shopify stores
  • Some knowledge/experience with Facebook ads
  • A full-time job and an extra $200 – $300 a month to invest
  • Knowledge of creating sites using WordPress
  • Some knowledge/experience of affiliate marketing
  • 2 hours in the morning if I can get up at 4.30 am
  • Verified Upwork account through which I earned $10,000 last year

In the same vein, being honest about my kryptonite, here goes:

  • My appetite for cat videos and time-wasting activities
  • Shiny object syndrome
  • Limited funds to scale
  • Limited time

Distil plan of action into 3 main steps

Plan of action towards achieving $50,000 by July 31st

  1. Work on my mindset. Some of my liabilities are mindset-related, and I believe that I need to change my online affiliations and surround myself with things that remind me of my goal and purpose.
  2. Outsource as many activities I can to people who can carry out time-consuming tasks cheaply and effective, leaving me to focus on strategy. I might have to train someone to my standards to make this work.
  3. Implement like crazy and blog like crazy.

That’s it. Watch out for my more detailed actions on this ride!

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