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eBiz Weekly #58

$20k/month and a 4-hour workweek

This week:

  • $20k/month and a 4-hour workweek
  • 15 online jobs and how much they pay
  • I just spent $1,497 on a course
  • Here’s how much remote workers earn
  • Ask for referrals, not work
  • 80 sites offering proofreading jobs
  • Small fish, big pond
  • LOIs helped this writer earn $135,288 last year
  • Starlink is a big deal

$20k/month and a 4-hour workweek

A new interview on eBiz Facts: How I built a service business to $20k/month recurring and achieved the 4-hour workweek

Gabe Arnold started Copywriting Today back in 2014 and now spends only 4-5 hours per week on it while earning $10k/month in profit 😎

Lots of great takeaways in this interview, including:

  • Speed of implementation: Gabe built and launched V1 of his service in one night
  • Took a model he saw working in one industry and applied it to another
  • Found his first 10 customers in one week via LinkedIn
  • Heavy on cold calls and cold emails to generate new business
  • Automated hiring process: “We don’t interview at all.”
  • Looking for work? They hire about 20 writers per year.

Read the full interview here »

15 online jobs and how much they pay

I went through this thread on Reddit – What is your pay rate and how hard is your job – and made a list of the online jobs people reported.

Might give you some ideas/inspiration:

  • $23/hour – part-time virtual assistant that focuses on hiring staff
  • $50/hour – web design/development
  • $30/hour – freelance web dev
  • $22/hour – teaching English to Chinese kids in the mornings/evenings
  • $10/hour – search quality evaluator at Sykes
  • $15/hour – working part-time for Lionbridge as a rater
  • $105k/year – salary for remote full-stack engineer
  • $1500+/week – buying and selling trading cards (Magic: the Gathering, Pokémon etc.) online
  • $3.50/hour – doing transcription on Rev.com
  • $60/hour – (after Upwork fees) as a freelance WordPress designer
  • $20/hour – teaching English online
  • $22/hour – teaching English via VIPkid
  • $14/hour – web rating for Lionbridge
  • $25/hour – online research and converting files into pdf form
  • $15/hour – reviewing resumes and providing feedback

I just spent $1,497 on a course

It’s called the Consulting Accelerator, by a guy named Sam Ovens.

It’s a quite popular and somewhat controversial course about building an online business, so I decided to sign up and review the bejesus out of it.

So far I’ve spent ~30 hours researching Sam, going through the course materials, and amassing almost 300 pages of notes 📝

It will probably take another 2 weeks and 40+ hours to finish my research and publish the review.

If you’d like to check out my raw notes in the meantime, you can access them here.

(Usually only folks in my private FBB group get access to my raw review notes. Sharing with email subscribers as an experiment. Not sure if it’s a good idea, might end up changing my mind and killing that link. Feedback welcome.)

Here’s how much remote workers earn

According to a new study of 3,500 remote workers:

  • 74% earn more than $50k/year
  • 55% earn more than $75k/year

About half of the study participants were located in the USA 🇺🇸 and the rest were scattered around the world 🌍

Comparing the above numbers to individual income in the USA as a whole in 2019 (source):

  • 40% earn more than $40k/year
  • 23% earn more than $75k/year

So either remote workers tend to get paid more, or people with higher earning potential tend to become remote workers 🤔

Ask for referrals, not work

Pete McPherson shares a tip that helped him quickly land 2 paid freelance gigs and several leads 🚀

I once heard the following expression as it relates to selling things over the internet:

“If you want advice, ask for sales. If you want sales, ask for advice.”

[…] There are three huge benefits to starting your freelance client search by asking for referrals, rather than directly reaching out for work:

  1. It’s a friendly conversation (allowing you to reach out to friends & family, in addition to brands!)
  2. It takes the pressure off whoever you’re connecting with
  3. Referrals are totally awesome.

Plus, if the company you’re reaching out to is looking for somebody like you anyways, you’ve now just presented yourself on a silver platter without begging.

80 sites offering proofreading jobs

Small Revolution has the list ⬅️

One of the sites listed apparently pays up to $4000/month (plus bonuses), but methinks $15-25/hour working part-time is more realistic for this kind of thing.

Small fish, big pond

Would you like to own a business with only 0.34% market share?

Doesn’t sound all that appealing, but ConvertKit is just such a business, and they’re doing $1.6 million in monthly recurring revenue and are apparently very profitable 💰💰💰

One Redditor writes:

Don’t be afraid to be the 100th company in the RIGHT MARKET.

This piece of advice changed my approach to new business ideas completely. I used to be like “Ohh, something similar already exists” and ditched the idea right away.

Now, I don’t get discouraged so quickly – I think of the market size and what I could do better than competitors to claim at least a chunk of the right market.

(Update: original post here)

LOIs helped this writer earn $135,288 last year

Jen Miller writes:

See that dip in 2017? My big success this year started when I realized my business was in trouble, and I started marketing the heck out of myself. In 2018, I sent more than 500 letters of introduction (LOIs). More than 500! For 2019, 19 clients came from LOIs.

Here’s a good resource about LOIs she points to: 7 Steps to Reaching out to Potential Clients Using Letters of Introduction

Starlink is a big deal

Starlink is a pet project of Elon Musk, aiming to surround the globe with thousands of low-orbit satellites 🛰 that will give you fast internet access pretty much anywhere.

Apparently 240 satellites are already up there.

Jeffrey Paul writes:

The biggest likely circumstantial impact to you and I: places previously unsuitable for long-term habitation or business development by businesspeople due to poor connectivity will be suddenly be rendered green on the map.

Starlink means that you can go live in the woods in Siberia if you like, with relatively little impact to your team (presuming you already work with your team via an internet connection).

Cruise ships, undeveloped countries, remote forests, desert wandering: all become practically viable when you can receive 100+ Mbps anywhere outside of the (An/)Arctic circle you can see the sky.

Hundreds of cities and dozens of countries, fine for living but previously entirely unsuitable for a place of business, will blink from red to green on the map once Starlink goes live.

I like to think Starlink (or similar) will help reverse urbanization.

Why move to a big smelly city for work 💨 when you can live in some remote natural wonderland 🏝 and still earn $75k/year?

(Also, seasteading.)

That’ll do it for this week.

Was there anything above that you found particularly useful or interesting?

I aim to pack these emails with the best tips, insights and opportunities for building your online business. Your feedback helps me do that.

Also: feel free to forward this email to a friend, or you can direct them to the online version here: https://ebizfacts.com/ebiz-weekly-58/

In case you missed em, here are the last three editions of eBiz Weekly:

Until next week, rock on with your legendary self 💪

Niall Doherty – Kuta, Bali
eBiz Facts

By the way...

How To Make Money Online
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Free Courses
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Find A Remote Job
See our list of the best ways to find a remote job, based on 100+ hours of research and testing.

Start Earning Online
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Freedom Business Builder
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  1. I think that StarLink may indeed eventually become a Big Deal, but Jeffrey Paul may be slightly over-optimistic. The current iteration of the service will probably be between $80 and $100 per month, and will require a separate pieced of hardware described by Elon as a UFO on a stick, about the size of a pizza box (no price given for that hardware). That antenna would have to be mounted somewhere it can “see” overhead satellites. Those extra requirements will make it hard to use on a cruise ship — and cruise ships typically disallow passengers to bring that sort of communications antenna on board anyway. For instance, you can’t currently bring a sat-phone on a cruise ship, claiming that it interferes with shipboard communications. They (of course) want to get that extra revenue from selling the overpriced/underpowered/restricted Internet and phone service they provide. Typically, that’s about $110 for a week of WiFi service for two devices, for roughly 1-3 Mb connection (and that’s only in the really early morning, when nobody else is on). You are typically prevented from using VPN, and restricted from using your phone’s feature of WiFi calling.

    It would also make using the StarLink service difficult to do in a truly mobile manner. Early adopters might work out ways to mount a “UFO” on the top of a vehicle. As eager as I am for this technology, I am probably not going to be among the earliest adopters.

  2. “So either remote workers tend to get paid more, or people with higher earning potential tend to become remote workers”
    Not really. The two datasets are different and non-comparable, for two reasons.
    1) The remote workers dataset only included people that worked. Indeed, for all we know, the remote workers queried might be among the better-compensated part of the remote working population. The US labor force dataset by contrast, included everyone that worked or wanted to work. That means that it included a lot of unemployed or underemployed people, or even teenagers with part-time jobs, skewing the income figures down as compared to the actually-working population.
    2) Also, there are some jobs which by their nature cannot be done remotely. Janitorial work, farming, and retail sales are some examples. It is possible that these jobs pay worse, on average, than jobs that can be done remotely, such as programming or accountancy, but that once you’re in a job that can be done remotely you’ll do just as well in the office as remotely. Perhaps better!

    1. Hey Yehoshua,

      Very good points, and I agree.

      That was lazy writing on my part. I knew it was more complicated than that and even tried writing a few sentences stating as much when putting together the email. I couldn’t get the wording right and gave up. My bad.

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