Ryan McLean : Slightly Unconventional

#54 I Am 3 Weeks Away From Running Out Of Money

iniartworksmallI am trying to create financial freedom and security through my online business. But at the moment I am cash strapped. Can I pull myself out of this hole?

I’m about 3 weeks away to running out of money in my business. But don’t freak out, everything is going to be okay. Hey, I’m Ryan from Instructions Not Included. Documenting my journey creating an online business and trying to achieve some level of financial freedom. Really, just financial stability working online.

I was looking at my finances, recently – within the last 2 days, I bought a second hand computer because my current one is dying up the ass. So, I spent $1,700 on that. I’m about to do my tax return and I’ll get a tax bill for that – tax that I need to pay for the year; which I probably don’t have the money to pay it right now.

Looking at how much my lifestyle is taking from my businesses because it’s my primary source of income. It pays the rent, it pays for food, all of that sort of stuff. I’m looking at about 3 weeks until I run out of money. But I’m not completely stressed about it because I know that I’ve got some referral fees coming from Ben that are $4,500 or something like that, which will really see me through an entire month after that.

I’m just not 100% sure if they’re going to come – because he’s going to pay me at the end of each month. So I’m just not sure if they’re coming at the end of this month or at the end of next month. So, it could be a tight time there.

Something that I really love about my business is that when I’m tight on cash and when things look dire, there’s things that I can do to increase my income.

If I was an employee and I started running out of money for one reason or another, then there wouldn’t be much that I could do to increase my income in order to fill that gap. But something that I love about my business is that there’s things that I can do.

Recently, I just did a 4-part series with Ben, the buyer’s agent, and that’s going to help me create more leads with him to generate more income. That’s more a long term play. In the short term, I am just finishing up my suburb research course. So, I’ve done all of the key videos, all I need to do now, I got 2 videos left – a conclusion video, which talks about what to do now and markets my next course as well as a comparison video comparing suburbs, so people really know how to do it.

So I’m almost done. 2 more videos to do, which I can probably get done tomorrow. And then that course will be complete and then I’m going to re-do the sales video for that. So, 3 videos for that.

So what I’m thinking is when I complete this course, when it’s done, let’s do a proper launch to this course. We did the course on how to find positive cash flow properties. We pre-launched it, we made about $1,000 in sales in pre-launch for this course. However, I didn’t then go ahead and launch it as I had planned. So I didn’t say, “This course is now available. Go ahead and get it, learn how to find positive cash flow properties.

This is awesome! Yada, yada, yada.” For some reason, I didn’t do that. I think it’s because I got caught up in creating the suburb research course that I just forgot to do that.

What I’m going to do, next week, I’ll finish the suburb research course tomorrow. I’ll create the sales video tomorrow/Monday, probably. And then, I’m going to do a launch of it. So, how am I going to do that? I don’t actually know. I haven’t actually had any ideas about that. But let’s think about it now, on the spot. Let’s pretend that you and me are brainstorming on this.

I want to move to daily content, anyway, right? And I haven’t been doing content because I’ve been creating this course. So why don’t I create 7 videos – let’s market this over a week. Let’s aim for $1,000 in sales, which will give me an extra week or 2 in terms of living expenses and just push the timeline until Ben’s money comes in and really sets me up. So, we’re aiming for $1,000.

Let’s start with a podcast because that’s easy. Let’s do 7 videos on how to research a suburb. So we’ll pull out different aspects about researching a suburb. We’ll do videos and then at the end of those videos, we’ll talk about our new course. Now, should I run any specials with the new course? I don’t like doing discounts. I don’t mind doing discounts on pre-sales but I hate doing discounts on full products. It’s just something that I don’t really do.

So the other things I have are how to find positive cash flow properties. I don’t want to throw that in free because that’s worth $100 as well. I’ve got property tools, which is $5 a month, so I could give a month free access to property tools? That’s like $5 but it’s something that I could say you’d get this. A year’s free access is $50, I could give away a year’s free access, but that’s pretty extreme.

I don’t know if I want to go ahead and do that. We could do that. See, but I want to reward the people that signed up early and got a discount, so they got either a 50% or a 20% discount. Alright, we’re not going to give something away, we’re just going to market the course and say that it’s available.

Okay. So we’ll do 7 podcast episodes about suburb research and we’ll release them one day after the other. Market the course in those videos. What about emails? I’ve got a list of about 10,000 people. So, let’s send out a couple of emails. Let’s send out an email announcing the course. So we can do that on Monday. We’ll announce the course. Then, on maybe Wednesday or Thursday and then maybe one on Sunday, so we’ll do 3 emails in total. So, one is announcing the course.

Then on Wednesday or Thursday, we’ll do one about one of the videos we created about this cool technique. And then, we’ll also do a video on Sunday and talk about another free video that we did and within those emails, talk about we’ve got the full course here.

I’m thinking one of those emails can be an awesome tool for analysing properties, because I just found that brand new tool so I can share that with people. Because, really, it’s the analysis of the data that people need to learn – that’s what I teach, it’s not necessarily the tools. So I could share that and then talk about my course. That’ll be one of the free videos and I’ll have to think about the other ones some time. Alright, so that sounds pretty good. That sounds pretty cool.

It’s Thursday today I’ll create the other videos tomorrow and try and get that sales video done tomorrow or Monday and we’ll go ahead and market that. Our goal, $1,000, which is just 10 sales from 10,000 people. So, that’s 0.1% conversion, which I think is definitely possible. Given the fact that I’ve already made $600 on this course and I haven’t done much direct marketing for it. I think with the right marketing, we could definitely do this.

I’m just trying to think if there’s any other way that I could really push it. I guess the other way, let’s also – alright, for the week, let’s say do suburb research week. Starting on Monday or maybe Tuesday, whenever I get my sales video up. Let’s put one of those banners across the top of my website. Just like an announcement banner saying, “Brand new course available. Click here.” Let’s try that as well. That way, website visitors can see that and if they’re interested in suburb research, then they can go ahead and check out that course.

We’ll only do that for a week. I’m not super stoked with those header banners, but I’ll find something and we’ll do that.

So, there we go. We’ve got a few different ways to market it. And you’ve literally seen inside the thought process of how I run my business. Running out of money, I need to make some money. I’ve created this course that I think is really valuable for people. How am I going to achieve my income goal for this and get people to sign up for it? And really, the goal for me is to reach those people who are interested in suburb research. So, by doing those lessons, I’ll reach those people and I’ll reach them over the long term as well.

My list is people who are interested in investing people generally by themselves anyway. So, I can definitely market to them and I think there’ll be a bunch of people who will be interested. So I’m very excited about this. I hope you are too.

I’m going out tonight to play some Super Smash Brothers Melee with a couple of mates on the Gold Coast here. I’m a Peach player. The two guys that I’m meeting up with, they both play as Marth, which is this guy with a sword and he’s the hardest character for me to play against. Because his sword is so long, he can just hit me from far away and it’s just really hard for me. So it’d be really good for me to practice my Peach against Marth. I’ve been kind of studying that match up and try and get better at that. That’ll be good fun tonight.

That’s it for me today, guys. Until next time, if you want instructions, go and buy some furniture.

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