A Step By Step Guide To Making $10,000 a Month

08 Mar 2024 (9 months ago)

The CAOS Method (0s)

The CAOS method is a step-by-step framework for starting a business and scaling it to $10,000 a month.
It is based on the idea that entrepreneurship is like building with Legos, where there are clear instructions that break down the process into manageable steps.
The framework involves four stages and does not require any special skills, multiple $10 million plus companies, or risking your life savings.
It demystifies the process of starting a business and allows you to take calculated risks.

To start a successful business that generates $10,000 a month, focus on creating a lifestyle business that prioritizes fun, freedom, and flexibility, rather than a performance business that aims for growth, valuation, and investment.
Determine your Origin Story, Mission, and Vision (OMV) to identify your passions and interests, as this can guide your business idea selection and increase your chances of success.
Brainstorm business ideas that solve problems and provide value to your target audience, and don't overthink the ideation process; simplicity is key.
Narrow down your ideas to the three best ones and consider investing your earnings using a commission-free app like Trading 212, which offers a new debit card that helps you save and invest money automatically.

To reach $10K a month, target customers with the financial means to solve their problems.
Quickly and cheaply test your concept by gauging people's responses.
Run an introductory event, such as a free webinar, to assess interest and distribution ability.
Prioritize distribution and lead generation over solely focusing on product development.
To test demand for a business idea, create a related quiz or questionnaire and send it to your network, or start a WhatsApp group and observe engagement.
If people are not willing to join a free group, they are unlikely to be interested in paying for a related product or service.
Consider using free business coaching resources, such as a free book and worksheets, as an alternative to expensive business coaches.

To reach $10,000 in monthly revenue, aim for five sales per month at $2,000 per package.
Choose a scalable business model that aligns with this target, such as a web design agency or high-end medical school courses.
Charge a premium price for your product or service and validate your offer by speaking to at least 30 customers before investing significant resources.
Get close to your customers and interact with them in person to gather valuable feedback.
Starting a business requires hard work, dedication, and persistence, despite the misconception that financial success is easy to achieve quickly.

The sales process consists of four steps: generating leads, scheduling appointments, delivering presentations, and closing sales.
Social media, paid ads, and personal outreach are effective methods for acquiring leads.
High-friction sales, such as those involving substantial offers, necessitate sales conversations to educate customers and provide solutions.
Building a sales team can assist with sales and other tasks, allowing for business growth.
Effective salesmanship involves diagnosing customers' problems and offering solutions, similar to a doctor's approach.
Sales should prioritize educating customers and solving their problems rather than being pushy.
Apple Store sales representatives receive daily sales training to ensure a positive customer experience.
Sales training is essential for building a successful business.
Richard Branson's philosophy emphasizes that businesses should aim to improve people's lives.
Sales play a crucial role in enabling businesses to enhance customers' lives through their products or services.
The "chaos framework" concept is discussed in the full interview with Dan.
For more in-depth insights and learning opportunities, the speaker recommends watching the entire interview.