To think it must be possible to make £10k a month online?

[mammaneedsadrink]

Basically I want to earn more money, but I also want to be able to have a life and spend time with my kids. Me and DH both work full time and we earn a very decent income, however, whilst on paper we are probs in the top 1%, in reality we are not rich at all (although we are comfortable). I see all these posts on social media about warning 10k a month online from just a few hours a day. AIBU to think this must be possible some how? Surely all these people can't be lying? Has anyone (successfully) built one of these online businesses, or know someone who has? How do they do it?!?!

I knew this guy when he was a child. Couldn't believe it when he popped up on a YouTube ad a couple of years ago.

I did some googling and discovered:

ADHD meant he didn't engage with school. Attendance issues all through secondary. Stayed in his bedroom a lot and worked out how to make his fortune.
Saw he married his childhood sweetheart, who I also knew.
Mutual friends who are still in touch with him tell me he is a multi millionaire now.

All self taught. I'd suggest he's easily on more than £10k a month.

https://youtube.com/@JonPenberthy

Can you make £10k in a month - certainly.
Can you make £10k per month, for three consecutive months - yes, but five times as hard, to make it for the rest of your life, extraordinarily difficult.
Why? Because unless you are selling something that people feel they can't live without - and doing so at a very high margin - then you need to find new products or services. If you are a middle-man, how hard is it for someone to reach your supplier and cut you out?
Finally, how many transactions do you expect to make your £10k? Very different scenarios; 5 customers making you £2,000 profit each, or 2,000 customers at £5 each. Replacing 40 hours in the office with 80 hours of postage and packing is not much fun.

For someone in the top 1% of earners, the common sense is lacking

Not sure why someone who classes themselves as a "top 1%" earner would be asking this question?

Learn to do something that is highly professional and do a good job at it.

Then advertise for young people to join your business and train them to do it the way you have done.

After a few years of recruiting and building that activity up you will have created a brand with value.

There it is. Tried and tested. Been done by many people before.

It can be done - I’ve had online businesses part time since 2005 and full time since 2008. But I’ve seen a statistic that says over 90% of people never make it online & while I doubt that’s an official figure, I believe it’s probably true. Most people never make more than a few hundred pounds a month. Those that make good money spend years on building & networking & many of those years are spent making less than minimum wage. There are plenty things you can do, but most people aren’t willing to put in the sheer amount of time and effort (for little to no return in the beginning) to get there. Blogging, social media, Amazon, Etsy, email marketing, affiliate marketing etc are just a few ways people make that kind of money. Try 3-4 hours every day outside your actual job and maybe in 3-5 years you might replace your job income. Some people do it much faster, but don’t believe what you read online or watch on YouTube. It’s never going to be that quick or easy. They’re just looking for clicks or trying to get you to sign up to their coaching or training program.

How about changing your lifestyle and downsizing so that you can reduce hours and have more cash in your pocket, instead of living so costly a lifestyle that being in the top 1% doesn't feel enough money to you?

Just wondering what you're spending money on?

@mammaneedsadrink i don’t have a full time job but I am self employed. I have also previously done some of this work around a full time role.

I do different things and have two audiences.

so I work with online service based sole traders/micro companies. Coach’s. Consultants, trainers, copy writers..

and I work with Uk based not for profits and charities.

I started in 2004 as a VA - virtual assistant. I kept nothing down offers and ended up as a tech VA doing set up, installation, management, maintenance and integrations of systems and processes. Tidying up the tech basically. Or even just dealing with fancy spreadsheets, facts and figures / analytics. I still do some of this work but only for folks I know and like and the odd referral. I charge £45 per hour for that.

I also do OBM (online business manager) and consultancy work. This starts at £75 per hour. Basically more of a management role and working with the owner and their team if they have one to get their strategy sorted and get a plan mapped out and actions planned for them on how to make their business simpler, straightforward and streamlined so they can maintain or grow their business.

I also sell existing courses, templates and workshops, offer 1-1 calls and done with you/for you big packages (setting up certain fancy systems starts at £2.5k because of planning involved etc). So not everything needs me to be hands on. The courses and templates are stand alone products folks buy and use.

I have affiliate links for key things I use and recommend. One of them brings me £99 each time someone buys it.

i have a health condition which means I can’t cope with stress or fatigue. I have to balance things really well. I don’t work more than 20 hours a week for clients. I normally aim for 15 hours a week to leave me buffer room.

im currently not doing much and having a quiet period due to care issues with my eldest son who has acute and treatment resistant MH issues. I’m bringing in about £2.5 -£3k a month. Not really got much in the way of business expenses.

2 years ago I was in a much more stable place health wise and without pushing for more work or doing much lead creation/networking I could make £6-7k.

If I allowed myself to do more hours on clients, marketing etc I could make £10k a month but my fear of illness or life situations keeps me playing safe.

there are so many things I have done other than this to make extra money around work.

there’s always something we can do - it’s just finding that idea and initial spark!

I’ve done everything from bulk buying handbag organisers many years ago for £2 each from eBay and selling them for £9+ just using Facebook and word of mouth, to making craft kits for folks to do various crafting at home without having to source all the individual products and large quantities etc. so I’d buy big quantities and split into smaller to sell in the kit. None of those were long term goers. They were just a gap in the market thing. But they all made me a few hundred and it all helped.

so my admin work has always ebbed and flowed around me doing other stuff and I’ve managed to fit it around full time jobs in the last.

If you are in the top 1% surely you can look at how you are living and adjust that to get more time to be with your kids.
Making more money will give you less time. You have enough money now, make it work harder. Read up on some financial advice, Rich dad, Poor dad, Financial Independence, stuff like that.

Living in an expensive part of London is a choice though. There are less expensive areas, I used to live there myself. Plenty of nurses, teachers, retail workers, cleaners, etc. live and manage in London while not being top whatever percent earners.

I’m sure OP would feel much richer if she moved from, say, Barnes/Canonbury/Hampstead to an area such as Bromley/Enfield/Leytonstone where there are much cheaper yet lovely houses.

I make this much working online from home. I run a virtual consulting business and speak on my expert subject for a living at a few of £1000-2500 per session.

I’m 45, it’s taken me 20 years to become an expert in my space - and be lucky about my subject area- I’ve published four books. I work three days a week on my own terms and trade through a limited company.

i know several people who make the same money in a similar industry and others who work just as hard and make a lot less.

I’ve been in the position of struggling to pay bills etc about 15 years ago. I know what that’s like. What’s really unfair is that once you have money, it’s easier to turn it into more money.. but very hard to get started.

The link stating £160,000 is 4 years old, the amount will be higher now .

That's the thing some give the perspectives that it's easy but it all takes times

Exactly! She spends so much time building her story and her image so that people are interested enough to pay....... it's essentially her whole life.

I doubt you can from honest or socially acceptable activities unless you have an extremely specialised skill/knowledge or are a fun and or engaging gamer/vlogger personality, even then they have to build a following and some of the gamers my kids watch have been plugging away for years. There was a woman I watched on YouTube yesterday who has half a million followers, probably because she is a lovely sweet person who shares everything about her personal life, struggles and make up tips etc so it wouldn't be for me, even if I did have the good fortune to be likeable 😁 Some craftspeople make huge money, but there has to be a bit of a luck: if you have a unique style and can attract customers who will consistently purchase your pieces, but again this success wouldn't come overnight! Many decent and consistent writers earn fairly good money self publishing online, I listened to a podcast last month that featured a woman who makes $8k a month self publishing romance books as side hustle but she didn't mention having a partner or a family so her free time was likely her own. She was extremely goal focused, persistent, had researched and used various marketing strategies and had a go to team for editing, cover art and people to review her books, it made my head spin listening!

I know how you can make £10k a month - get rid of the fancy cars on leases/HP, stop flying to Dubai 1st class on holiday, eat at home, sell the mulberry and Chanel bags. Easy. No insta lifestyle = surplus cash

You say you are in the top 1% of earners but you didn't know this? Can I ask what you do?

I’ve seen a few of these. Almost got sucked in myself until I realised it was an MLM shilling alkaline water machines. These accounts are everywhere atm. They’re deliberately vague about what they’re selling to suck you into their pipeline. Usually wanting you to drop thousands on a machine to get started. It’s mental

How can you and DH be bright enough to earn in the top 1% but stupid and gullible enough to not realise the scam? 😳

I’m struggling to understand why you’re bringing my own personal life into this. I can only imagine that you’ve searched my username to find out information (as I haven’t mentioned where I currently live on this thread) which is frankly, quite sad.

People can respond how they see fit to threads, there aren’t any rules about it.

I am struggling to understand why people can't just give her tips if they have successful businesses or alternatives to give her the 10K a month she is looking for. Are people triggered because she and her husband make more money?

Let's just imagine that we have people on here who are earning £10k a month, or over £120k a year, online. Anyone who is in the position of carving out their own niche and making their own online business will not have done that overnight. They will have tried stuff which didn't work, dealt with time wasting or demanding customers, worked ridiculously long hours at time, had dry spells with no work and so on.

And you really can't understand, @nonheme, why someone who has spent years building their business isn't super keen to just give away all their ideas in a nice wee "how to" guide? You hear it all the time - Oh I'd love to be a X or work as Y, how did you get into doing that, I want to do it too!! Well, cheeky fucker, I had the nouse to get online and do a wee bit of research. If you can't even do some googling, then you're not going to be a success running your own business, are you?

For a mere £10k/month - not guaranteed to be a regular thing - you would happily destroy your children's peace of mind and reputations.