The Easiest Way to Make $500K a Year

Andrew Wilkinson is the co-founder of Tiny, currently valued at about $500 million on the Canadian Stock Exchange 🤯

On a recent episode of the My First Million podcast, Andrew shared his thoughts on the easiest way to make $500,000 a year if starting a business from scratch…

Around the 35-minute mark 👇

If I lost everything and I didn’t have my Twitter subscribers, I would probably go start an agency… I think that is the easiest way to make $500,000 a year very very simply.

He advises focusing on a skill or service you already have experience with.

For example, Andrew got his start in design – he still owns a design agency called MetaLab that has worked with the likes of Slack, Google and Uber. 

So a design agency would be his first choice to start 👍

While AI is making some agency services more competitive, Andrew contends there are still plenty of opportunities in this space.

I’d add that a way to gain a competitive advantage is to start locally in your own city or town.

Offering services that many local businesses could use gives you the ability to meet clients in person and pitch them directly, making them more likely to hire you over a distant, faceless competitor 😎

Even if you have minimal experience, just start where you are. Find a few businesses you can help in your area, provide value, build relationships, and expand from there.

Don’t worry about hiring people in the beginning: do as much as you can as a freelancer and only hire help when you find yourself close to capacity.

Some other agency service ideas 👇

• Accounting
• Advertising (eg. running Facebook ads)
• Copywriting
• Podcast production
• Public relations
• Social media marketing
• Video production

A few agency success stories we’ve covered in this newsletter…

• $34K/Month Offshore Talent Agency
• $83K/Month Short-Form Video Agency
• $276K/Year Scientific Publishing Agency

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