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Ramit Sethi – Earn1k 2.0

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Over the years, I have purchased two flagship courses from Ramit Sethi.

  • Earn1k Master
  • Zero To Launch Pro

In short, Earn1k is my go-to resource when I want to start a new business on the side or grow an existing side business.

I consult Zero to Launch–another course by Ramit Sethi–when I need help with digital marketing. If you want to learn more about digital marketing, you can download Ramit’s free e-book: The Ultimate Guide to Digital Marketing.

Now that I have given you the short version, I want to dive into the details, good and bad. By the end of this article, you should know if Earn1k is right for you.

Why did I join Earn1k?

I joined Earn1k because I wanted to earn money on the side but I had no idea where to start. Even when I had ideas, but I didn’t know how to separate the good ones from the bad ones.

I felt overwhelmed did what everyone does when they feel overwhelmed: nothing.

Sure, I could have bought another book on entrepreneurship. I had several already. But I knew that I needed to try a different approach.

Books are great, but they often contain too much information. I needed to know what to do and when to do it; I also needed to know what not to do. I needed step-by-step instructions.

Earn1k gave me those step-by-step instructions, simplifying the process of starting a business.

How much money did I actually earn?

Like I mentioned earlier, I earned over $11,000 on the side with Earn1k. I started small and grew slowly, increasing my fees with each new client.

Using Ramit’s free Idea Generator Tool, I found my first profitable idea: website design. I already knew how to build websites. Why not build them for other people?

Website #1: Free

I built my first website for free because I had no experience and new clients.

Fortunately, my boss at the time asked if I would build a new website for his father-in-law Don who owned a sealcoating business. I jumped at the opportunity and built a basic website for Don in an afternoon.

Free work is a great way to get started, but it is not a great way to earn money.

Website #2: $300

Don appreciated my willingness to build his website for such an attractive price and asked me if I would build a website for his childhood friend Rocky who owned a car wash.

Once again, I jumped at the opportunity but decided to charge Rocky for my website design services. I chose a rate of $30 per hour since I still had almost no experience in website design.

At the end of the project, I charged Rocky a staggering $300.

$300 is not a lot of money. Still, I felt like a million bucks when Rocky handed me a check for the website. I must have stared at that check for a half hour. I couldn’t believe my eyes.

“I made this,” I thought to myself.

It was the first time in my life that I made something from nothing. Until then, I thought that jobs were the only way to earn money.

Website #3: $550

When my dentist asked me to build her a website, I proposed a rate of $50 per hour for what I thought would be a ten-hour project.

“Why not?” I asked myself. “What’s the worst that could happen?”

Happily, she accepted my proposal and I built the website charging $550 in the end.

Website #4: $1,500

A few months later, I sent an invoice for my biggest deal yet: $1,500.

At that point, I learned that I could increase the deal size by offering my client additional services. So I offered to maintain my client’s website so that he didn’t have to do it. Fortunately, he accepted and I increased the size of the deal. We both won.

Website #5: $100/mo gym membership

Next, I built a website for my jiu-jitsu coach, trading website design for training. It was a pretty good deal in my book. Remember: money is not the only form of compensation.

Later, my coach referred me to a former training partner of his whose cousin needed a website.

Website #6: $3,750

I met the cousin on New Years Day and talked shop for a few hours. When he asked about rates, I decided to try a new rate and stated, “My standard rate is $80 per hour.”

“Okay,” he said.

Inside, I was jumping for joy. I overcame a psychological barrier, charging more than I thought was possible. The funny thing is that he was more than happy to pay $80 per hour for services because I understood what he really wanted: more time.

In the end, I charged $3,750 for the website, making it the biggest deal of my life. We continue to work together to this day.

New service, new rate

In 2016, I decided to increase my rates again. So I returned to Earn1k and implemented one of Ramit’s “big wins” that helped me significantly increase my hourly rate.

Today, I charge $150 per hour for consulting, and my clients don’t bat an eye. My clients are happy to pay that rate because they know that I am worth every penny.

What is Earn1k?

Earn1k is an online course created by Ramit Sethi of I Will Teach You To Be Rich, a blog that teaches readers how to live a rich life.

In Ramit’s book by the same name, he writes about the “CEO” approach to personal finance. In short, there are three ways to get big wins in your financial life:

  • Cut costs
  • Earn more
  • Optimize spending

Earn1k teaches students how to earn earning more money on the side via freelance work.

Ramit’s course is geared specifically toward making money on the side because it is far too difficult and risky for most people to simply quit their job and start a business. According to Ramit, it makes far more sense to keep your full-time job and earn extra money in your spare time.

 

 

 

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