Every Friday we email 3,459 legendary subscribers with tips and insights to help build and grow their online businesses. We also post the content of each email here on the website.
- Latest Momentos + Finance Report
- Get paid $20/hour to test software
- Tai Lopez Net Worth (new video)
- Inbox When Ready
- Use market data to motivate your audience
- 60 websites that are raking in serious $$$
- How much can you earn as a virtual assistant?
- How long did it take the world’s super-rich to earn their first million?
- 10 businesses to start now to be rich in a decade
- Hands-on introduction to machine learning
- P.S. A rare ask
Latest Momentos + Finance Report
For some reason, you fine folks click through to read my Momentos more than anything else in these emails, so here’s the latest edition right up top.
And here’s my latest finance report, where I detail everything I earned and spent last month.
June wasn’t great, as I ended up spending about $2000 more than I earned 😕
Get paid $20/hour to test software
I stumbled across a website called Testlio yesterday and did some quick research. They basically hire people to test software for clients like Microsoft, Lyft, Salesforce, and GoDaddy.
Here’s what a couple of folks on Reddit have said about it:
“I was recommended testlio by this subreddit, and they seriously delivered on their 24 dollars an hour. There were a few unpaid tasks at first that kind of had me loosing hope, but then they actually started paying, once I had passed the initialization phase.” (source)
“I’ve done testing with them. Overall, I love what Testlio does, the community they created and the founders’ focus.
If there’s a practical goal, like you’re really looking for a way to move into mobile app development, testing, learn how to use testing tools this would be a path. You can build some relationships, get experience and call yourself a QA tester. But if you want to just make some extra cash, there’s a lot of effort that goes into testing here that goes over the time you are paid for, so the $18/hr USD can equal to half that once you’re done. It seems that’s what it takes to get noticed and more tests.” (source)
Sounds like you’d start off earning only about $10 per hour on there, but stick with it and you can earn a consistent $20/hour.
If you give them a try, please report back and let me know how it goes.
Tai Lopez Net Worth (new video)
Back in March, I received a mysterious email from someone claiming to provide marketing services to the infamous Tai Lopez. He offered to send me a CPA letter proving Tai’s net worth to be $60 million.
It all seemed a little strange, so I tried contacting the CPA directly to verify the information.
Today I published a new video detailing my research and what I found out.
(Big thanks in advance if you give that a view. Likes and comments would also be very much appreciated, as early interactions get YouTube showing the video to more people.)
Inbox When Ready
If you use Gmail, this is a brilliant little extension to help you stay focused.
I’ve set it up to lock me out of my inbox from 5am to 11:30am, and from 2pm to 5pm.
I often catch myself going to check email reflexively after finishing a task, but IWR prevents that and gets me back on the proactive track.
Use market data to motivate your audience
I’d been using the aforementioned Inbox When Ready for years but reading The Ultimate Sales Machine by Chet Holmes inspired me to take it to the next level with the scheduled lockouts.
Aside from great productivity training, one of the key lessons from The Ultimate Sales Machine is to use market data in your marketing, as opposed to product data.
An example: don’t put an ad in the paper saying that your mouse trap is the best and has A, B and C features. Instead, educate people on all the havoc mice can wreak in your home, the health and hygiene problems they create, the cost of repairing the damage they cause, etc.
That kind of info is far more likely to motivate people to buy your mouse trap.
For more on this, here’s a solid 26-minute interview with Chet Holmes on YouTube.
60 websites that are raking in serious $$$
Take a few minutes to skim through this fascinating article on Gaps.com, listing 60 different online businesses along with their annual revenue.
First on the list is a website selling party supplies that does $2 million in annual revenue.
And that’s the lowest earning site on the list!
The highest earning is a site selling pet food and supplies.
Annual revenue: $3.53 billion 😳
I don’t know about you, but seeing so many online businesses earning big money in lots of different niches is massively inspiring. Tons of opportunity out there.
How much can you earn as a virtual assistant?
That’s what this ultimate guide will tell you, along with lots of additional info about becoming a successful virtual assistant.
Some key points from the article:
- VA’s can earn anywhere between $3 and $60 per hour, sometimes even more.
- A high-end VA can earn more than $6,000 per month.
- In the USA, the average VA earns $16 per hour.
- VA’s tend to earn more than bank tellers, teachers, and nurses.
- To become a high-end VA, you basically need to master more skills, be highly organized, and highly dependable.
How long did it take the world’s super-rich to earn their first million?
On average the world’s richest earned their first million at age 36 with most making their fortune through their own business ventures.
Shit, I’m 37 already. What have I been doing with my life?
Oh yeah… traveling the world and stuff 😜
If you’ve also spent more than 36 years on this rock already, keep in mind people like Ray Kroc, who was 52 years old before he had his big business breakthrough with McDonald’s.
(Kroc’s autobiography is well worth a read, btw.)
10 businesses to start now to be rich in a decade
The full article is worth a skim – I found the lists of sub-sectors more interesting than the top-level industries – but here’s the shortlist if you’re in a hurry:
- Technology (duh)
- Consumer Retail
- Real Estate
Hands-on introduction to machine learning
One of the sub-sectors listed below tech in the last article is machine learning.
If that interests you, check out Google’s very popular machine learning video series on YouTube.
Quote from the first video:
I’ll give you a problem that sounds easy, but is impossible to solve without machine learning: can you write code to tell the difference between an apple and an orange?
As it turns out, six lines of Python code is all it takes.
Niall Doherty – Uluwatu, Bali
P.S. Let me finish with a direct ask for your support on Patreon (something I only do twice a year).
If you’re not familiar with Patreon, it’s basically a platform where you can support creators by sending them the price of a coffee (or more) each month.
Having recently quit freelancing – my most reliable source of income for the past 9 years – I’m now all-in on creating eBiz Facts, which aims to become the #1 resource for anyone building an online business.
The grand vision is to research and review all the ways of earning money online, recommend the best, warn you off the rest, and hopefully save you lots of time, money, and effort.
And I want to do that while keeping all the content 100% free, and without resorting to selling ads.
(Most online content these days is drenched in advertising, and it bugs the hell out of me. At worst ads are manipulative, and at best they distract you from the content you wanted to consume in the first place.)
Which is cool and everything, but it comes at a cost.
The cost is that I have to prioritize creating content that’s not always the most interesting to my audience (i.e. you), but that which has big search traffic and can be monetized with affiliate links.
Which is why I’ve written more than 25,000 words and created more than 30 minutes of video on Tai Lopez the past few months 😕
Fact is, that kind of content is the fastest way for me to generate income. And that income allows me to start hiring a team of A-players. And such a team is essential to achieving the aforementioned grand vision.
Because there’s no way I can do it all alone.
Which brings me back to Patreon, and asking for your support.
Every dollar that comes in through Patreon is a dollar less I need to earn from affiliate marketing, and that’s a very good thing.
It frees me up to create great content without worrying about how to monetize it.
It frees me up to review interesting tools and courses that don’t have affiliate programs.
And it frees me up from checking dozens of different affiliate dashboards all the damn time 😛
If you’d like to help me achieve that vision, and you can afford it, please click through and support me via Patreon right here.
There are four tiers – $2, $5, $10, and $20 per month.
Each tier comes with a perk.
Sign up for the $5/month tier, for example, and you get to join 300+ excellent humans in our private Freedom Business Builder group.
Thanks for reading all the way to the end.
I very much appreciate your time and attention.
By the way...
Freedom Business Builder
FBB is a private community of online business builders. Our 300+ members range from people just starting their first online businesses, to experienced online entrepreneurs earning thousands of dollars each month. More info here.
Travel Hacker’s Toolkit
Check out the top resources I recommend for the traveling online business builder. Cheap flights, a jet lag app, free VPN software, and more.
Great Value Courses
My go-to websites when looking to learn or enhance a skill are Coursera, Skillshare and Udemy. They have thousands of courses on many different topics, rated and reviewed so you can easily tell what’s best. Udemy and Coursera are pay-per-course, whereas Skillshare is a subscription model (my preference).
Start Earning Online
Check out our free crash course to help you build an online business, consists of 11 videos and accompanying articles.