500K in a year

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I am just curious so I thought I would ask. Is it possible to make $500K in 2012? The reason I ask is I have seen a lot of material & videos over the years about people make that much in a month. I think it is more realistic to make that in a year. Any thoughts & experience would be appreciated.
#main internet marketing discussion forum #500k #year
  • $41k a month
    $1360 a day
    =500k a year
    Anything is possible , start with making a $100 a day and scale up times 13
    =500k a year
    • [2] replies
    • My goal this new year is to hit $3k a month additional income.

    • Right!

      This makes almost $120 an hour every single day.

      If you sell a course for $1000, you need just one sale and half per day in order to get $500,000.00 a year.

      If you are selling an e-book for $15.00, you need 93 sales per day.

      Take whatever you are selling and divide it on $1400 to see how many sales you need it order to reach that outcome, if you are making this amount daily.
  • Perfectly possible. Some people/companies (mostly companies, not individuals) make that in one day.

    Thing is, in IM you see a lot of people getting trapped in WSO's... wrong methods, bad approaches... and those are going to struggle to make 5 dollars per day.
  • Hey Nole

    It sure is possible, I've seen many success stories over the time of people going from losing money to making 100k a month in just one year... So it's for sure attainable, but it also certainly takes a lot of will-power and constant taking action to achieve it!

    Set a mindset and keep it until you achieve your goals and only then move to another mindset. It's very important to set goals, but it's equally important to set them realistically!
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    It's definitely possible for someone who made $350,000 in 2011.

    It depends what base you're starting from, doesn't it? What assets you have (lists, websites, reputation, etc. etc.) and what skills you have, and maybe even a little on what connections you have (joint ventures, and so on).

    It isn't easy to answer it, in abstract.

    I wouldn't be able to do it, myself, and in the long run, to be honest, I'm not actually sure I'd want that as an objective anyway.
  • might be tough if your starting point is 0
  • my firends has made that amount by working hard for harf of a year, nothing is impossible lol
  • If you are a 1 person shop then your biggest limitation on your income will be TIME. Hence the need for Replication...

    Hire, Teach, Deploy, Repeat

    People can claim whatever they like hiding behind a monitor and keyboard...it doesn't necessarily mean its true.

    I am not saying they have or haven't, I am just saying take everything you read with a grain of salt...
  • If you don't have at least 5k cash sitting around to play with, a decent network of influential people willing to assist you, and a lot of experience with internet business, then I would say your chances are not very good.

    In fact, without those things, I would suggest that your chances of making 500k would be about equal to your chances of winning the lottery. Only if you play the lottery you won't be working as hard.

    That's not to say it can't be done, but realistically your chances are almost nonexistent.

    To be honest, I have 16 years of online business experience, enough cash to play with, and a few friends that could help me and think that would be tough for me.

    I am not sure I could start from "0" in the IM niche and make $500,000 this year in only the IM niche. The number of people making 500k in the IM niche is much smaller than most people think.
    • [3] replies
    • That's an encouragement
      • [1] reply
    • Then I guess my goal in 2012 is useless :rolleyes:

      What you need to make lots of money is experience, patience, the ability to take massive action, and the ability to ignore all the BS around IM and MMO.
      • [3] replies
    • Without batting an eye, I could name 20 or 30 businesses and individuals in the IM niche that make that kind of money.
      • [1] reply
  • 500K in 2012 in what niche? I think it's unrealistic to want to make that kind of money without having a set niche which has the capabilities to make that kind of personal income.

    Once you have your niche/product ready you'll see what others in that niche have done before and what is possible.

    If you sell a screenplay to Hollywood 500K a year is possible.
    If you make software that people really want - over 500k a year is possible.

    Pick you niche that is open to that kind of earnings and just go for it. Also make sure you love what you do... even if you only make $5,000 in a year. Doing what you love will pay ten fold in the long run.

    Best wishes.
  • @Nole, if people line up telling you how unrealistic something is and why you can't do it, then you are on the RIGHT PATH.

    Simply they can't do it themselves, so why bother trying at all. This seems to be the biggest virus of the human psyche :-) Follow your mind and you'll find the way :-)

    You can do anything you set your mind to... Persistence is key.
    • [1] reply
    • Or maybe I am just offering real work advice based on experience (16 years of it).

      Following a bad (unrealistic) plan is not a good idea. In fact, that's terrible advice.
  • I do have many friends that can make that quite easily but some people dont need that kind of money just $2000 dollars a month is a living wage to a lot of people and some are like me that earn what ever they require and give back much more in free training.I think we all need to look at what we can do to help others in this financial and climate.
    Regards
    vivi62
  • I believe it really is a case of what you're prepared to believe is possible. I have days when the thought of making $10 seems hard, others when I can genuinely imagine making $10,000 a day.

    I know I can make $2,000 a day, because I've done that for a single day's work as a photographer, so when I doubt my ability to make a buck I can always recall that time. I know another photographer who I assisted in my early days, who got paid a cool $250,000 for just 3 days 'work' (really hard stuff, you know, shooting pics of gorgeous models!) on an ad campaign.

    Sometimes I think getting hung up on the amount is part of the problem in not getting it. Letting go of the need and just knowing you are worth $1M and then doing what you enjoy is more likely to bring success - not to mention 6 figure income.

    Those who are passionate about what they do, can at least enjoy the process whatever the end result. It isn't much fun to strive at something you dislike in the hope of becoming wealthy and then end up without your financial goal. So, first find something that you want to get out of bed to do and don't want to leave when it is time to go to sleep.

    Patrick
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  • Like mentioned above, if you break it down - 500k / year = 41k / month = $1388 / day

    Start from $10/day - $100/day .. and then scale it up

    It's highly possible, but it sure takes time!
  • I think perhaps the greatest obstacle of all is our own mind's perception of what we are fully capable of...
  • As many said, it is possible. However starting by Jan 2012 and thinking to earn that kind of amount by year end is rather impossible if you are newbie.

    Problem is we really don't know what will happen unless and until we do things. Hence only an experienced marketer can scale up to 500K per year. So it doesnt mean that Newbie's can't. It just the risk factor is too high and we are prone to fail with lack of experience if we try to scale up that height in one jump.

    ***Just be cautious***
  • most the people here have the right idea.

    Realistically its about getting a big list, and offering them value. You do that and you can make 500K + a year.

    But to add and help things have a sales funnel of say $47 > $97 > $297 > $2000+ Coaching > 10k + seminars / workshops. Doing that I went from broke to making 5 figures a month.

    Is it easy, no....but if it was, every man and his dog would be doing IM. Sales funnels have helped our business...now it is just a matter of upscaling.
  • It is very possible, but highly improbable for someone starting out fresh. I'm curious. Why the 500k number as opposed to something more realistic such as 50k or 75k?

    I've seen marketers make that much more than 500k in one year from scratch, but they knew what they were doing. They've already had successful projects in the past so they already had a system in place that they could follow.

    RoD
    • [1] reply
    • considering over 900,000 people in America make $500,000 or more per year yeah it most certainly possible...
      • [1] reply
  • Someone needs to write an ebook on this. I 'll definitely buy
  • Absolutely, just put in the hours to start with and it'll start to run like a wind up toy, keep putting the hours in and it'll be like several wind up toys. Multiplied cashflow, now invest that in learning to own and cashflow gold and silver and that will multiply itself!! Your money is now working for you earning money, you make more put more in and it just keeps growing.

    By the way invest a little in how to invest your earnings (I like gold and silver) as it'll propel you much quicker to your goal
  • We did well over $500k in 2011 but like Rod said we've built up assets and multiple streams of income since 2001 to get to this point. It's possible but it's not easy, especially starting from scratch.

    It really comes down to the demand for what you're selling (based on the value you provide), the price you're able to charge (total revenue per transaction / sales funnel), and how many people you're able to reach (distribution).

    At the end of the day though, it's about how much you bank and not how much you make. Anybody can set up a sales funnel that breaks even and then spend $40k a month on advertising. I know people who make over a million a year but take home less than $100k. Profit is what really matters.
    • [1] reply
    • Context is everything. Assume that is a 10% profit ($100k from $1M in gross revenue).

      There are many established businesses that would love to have that high a profit percentage - including many businesses whose net is more than most everyone on the forum.

      Yet, if the profit percentage on Adwords was spend $10 and make $11 back, many here would stop because not enough money was being made.

      But those they may be competing against take the same number and are jubilant at the result.

      .
  • You're more likely to make 500K a year if you have already made 250K in a year.

    It is easier for someone making 250k to get to 500k than it is for someone to go from 0 to 50k in my opinion.
  • It is absolutely attainable. I have not made less than $700K a year since 2006. And I am pretty much underground. And the reason I had done this...is because I think big...

    In 2006 I saw a niche in the market and saw people making money in small numbers in this niche. I tested it with $2,000 and make $5,000. It was simple math...I found a formula that worked on a small scale and I figured out how to scale it up. While many others in the market place were selling these very small electronic goodies at about 20 to 30 units a month...I scale the business up and was selling 500 to 700 a day...same exact product.

    You need to find something that has the ability to be promoted in a grand scale. And I would honestly look for something outside of the IM niche...

    THINK BIG...

    Michael
    • [ 3 ] Thanks
  • Well, I also started way back in 1995/96 ish when i was 16 or so years old. I literally started with my lunch money (which was not much).

    I was able to build up several profitable business, over the next decade.

    That being said, those stories are definitely the exception to the rule.

    My posts and others were coming at this from a realistic standpoint that a very high percentage of people will need some capital, some experience, some sort of existing network, and a few other skills to lean on.

    To me, those that encourage people to follow a very high risk and not very realistic plan are not actually providing much help to them.

    What percentage of people that start a "business" with no money and no experience achieve even enough success to survive, much less make 500k in their first year?
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    • that is a good goal to have.

      Start small and work your way up.

      Far too many times you see the newbies out there say "oh...I cant wait to make my fortune online....10k a month"

      They soon give up and realise it is too hard, and they buy up everything under the sun and not take action.

      The thing is 10k a month is doable. But ONLY for the right person with the right mindset and funnels in place.

      The secret to making large amounts of money online is this.... THERE IS NO SECRET!

      Yes! I know you were waiting for me to reveal the big bang HOLY GRAIL secret weren't you!

      There are none it comes down to working hard and smarter. When these two are combined properly...then you see great results.

      But where we see the good results these days is working with others, leveraging off others with big lists, and those who are already successful.

      If I was a broke bum in the street this is how I would start from scratch. How do you think those guys on clickbank do that big $1 million dollar launches. By themselves, with PPC or own traffic. NO!!!!....leveraging off others hard work and success and building relationships. That is where the big money comes in. ... once we started to do this, especailly in the weird niches we are in our income exploded.
  • 500K this year...umm me thinks I'll get that 10 years in my day job
  • I think the simple answer is Yes It's Possible, if:

    1. if you know what your real goal is (not just earning 500K in a year);
    2. you're passionate about what you're doing;
    3. what you're doing is one of your strengths;
    4. you understand what your customers need and want;
    5. you have a process plan that works;
    6. you take action on the essentials consistently;
    7. you build a responsive list;
    8. you have or found a killer product or service that your customers want;
    9. you learn from the right people and resources; and
    10. you don't think about making money while doing all that.
  • What a silly question...
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    • Quote: "The secret to making large amounts of money online is this.... THERE IS NO SECRET!"

      WHAT? You mean that I don't need to buy up every WSO that comes out because, maybe, just maybe, somewhere in there the SECRET might be revealed?

      Don't get me wrong, I am sure there is a lot of valuable information in those WSO's that can contribute to the success of an IM if actually implemented, but MAN...SERIOUSLY!

      Why do so many people fall prey to the "I am gonna get Rich quick on the Internet and retire in my Jammies by 25" mentality?

      A Little Common Sense goes a loooooong way!
  • It's a goal that is definitely possible to reach. But, as most things in IM, it will take time for you to reach that goal because it won't happen instantly. You must build up your business. You'll probably earn a low quantity of cash in the beginning of your business. In fact, you might even be making $5/hour, however, it will definitely be worth it as time progresses. I currently have a 13 year old blog that's, solely, making me $500 per day. $500K/year is definitely possible but won't happen immediately.
  • Is it possible? Of course. Is it realistic? Well, it depends where you're at now. If you're starting from ground zero then it's probably not likely. If you're already doing 400k then sure why wouldn't it? You just need to have patience and perseverance and the money will come just as long as you take action.
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    500K in a year

    I am just curious so I thought I would ask. Is it possible to make $500K in 2012? The reason I ask is I have seen a lot of material & videos over the years about people make that much in a month. I think it is more realistic to make that in a year. Any thoughts & experience would be appreciated.