No we don't make 5k a month...
this post was submitted on 26 Nov 2023
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Onshore £6,000 - £12,000 per month depending if I choose to work weekends or not.
Offshore £5,000 per week, usually 2-3 week trips.
Instrumentation & Control Technician, 4 year apprenticeship got me here.
+1 trades. Bless up
Seriously overlooked market honestly, at least for many trades. There is so much work to go around it's silly
it is indeed insane but i think trades are considered looked down upon mainly for the younger generations while they should not be
To be fair I think parents are to blame. There is a huge "go to uni, trades are for dummies" narrative that gets peddled, and a lot of kids don't get wise to it until they're already 75k in debt with a degree they are having trouble leveraging
You did a 4 year apprenticeship and then started working independently, that’s it? Or do you work as an employee?
Man where do I sign up? I work in our family business rn making around €6k, doing welding and construction. I wanted to get into saturation diving, but never ended up doing the course in Norway... I studied mechatronics and instrumentation and control must be interesting too..
Yes. I started in affiliate marketing and slowly climbed the ladder, i actually moved to China which fast-tracked my career, i ended up as COO which is where i really started to earn. sold 1 company, advised on a 2nd merger, joined a 3rd company as COO and sold that one. Yes it was saturated, it was hard work, long hours, lots of networking, lots of diplomacy, lots of pitching. we didnt spend on ads, but we had lots of networking, its would be easy to replicate since its an ad agency, at the time we were pulling around 8mil a year something like that, but our team was like 60+, so it was a reasonable sum, but net it was breakeven basically.
Breakeven? 🙃 how much did you personally put out from this experience in terms of money?
Mobile detailing started with about 3k. Very saturated but there’s ways to stand out. Around 1k a month on ads. Not online. Harder now then when I started to duplicate. Social media is new to the business but hasn’t helped yet
Congrats on finding a niche and sticking to it! I’m an electronics broker, somebody who buys and resell electronics in Georgia. What’s work for me Is good business practices, and a strong Google my business presence! Do you have a Google My Business for your detailing business? U/kw_shapes
Yessir I do. It was my primary focus when I started as I figured the higher end clients will want someone with a good online presence more than just someone that their friends know. I am currently at 83 5 star reviews. Looking now at social media and or seo focus for marketing. I’m 23 and this is what I hope will teach me to scale larger business in the future or cash flow my next step
I make my money from investments these days. Invested from my day job and side hustles over the years. Here's what I did...
https://sideprofit.net/my-solopreneur-projects-over-the-last-20-years/
I woukd suggest experimenting to see what works for you. Different things work for different people.
Property is usually a pretty solid earner but now is probably the worse time to buy unless you can find a bargain. In the next year or two there should be lots of great deals.
Crypto bull market starting. Massive opportunities over the next 2 years. Don't invest more than you can afford to do. Don't do leverage. Don't buy and hold shit coins. Take profits instead of getting greedy. A small percentage of net worth invested in crypto is a no brainer for me. It's now a larger percentage though.
Yes.
If you do can you say what you do - I offer contract web development services at the rate of $3k/month
How you started it? - I am a professional web dev so my friends know it, one of my friend referred me to his uncle living abroad who wanted a custom video course app built, so I started on contract basis and then got more referrals.
Do you enjoy your business? - Yes.
Is it saturated? - Yes, a lot.
How much you spend on ads? - Nothing
I’m so sad web development is so saturated right now, I specialized in it thinking it would be good, now everyone is doing it, it’s horrible. I think entrepreneurship is a lot about luck
How did you get into it and is it 3k per client or per month ?How does it work getting clients?
I am already a professional web developer so I knew the skill, it all started with my friend asking me to build a web app for his uncle.
Currently it’s word of mouth and referrals, so I’m still figuring out how to build a good pipeline to acquire more clients consistently and scale from there.
Just search the previous questions like nearly every day to get these answers. Also, stop being a wantreprenuer.
Earning over £5,000 a month involves a mix of factors. I recommend diversifying your income streams, exploring online business opportunities, and optimizing social media for growth. The key is consistency, adaptability, and smart investment in advertising to reach your target audience.
I started an insurance agency. Made about $10k my first year and $30k my 2nd year.
I actually reinvest quite a bit into my business. I only need about $100k so when I start to make more than that I typically hire another employee. 12 years in now and I gross about $40k per month but I take home about $10k after taxes. I try to work sparingly now.
I do around 5K Euro a month, so close to that. I'm a software engineer. Would love to start something completely mine, but consulting/contracting keeps food on the table, pays all the bills, enough to travel and save for retirement.
You consult in a specific niche?
Not really, but at the moment I got into online casinos.
Content Creator started with $0 and it’s very saturated, but like any field only the passionate and hard working will survive. You can make a faceless TikTok page and profit $10k a month with just a few hours a week of work. I have a few money printing pages
Which pages are those?
Yeah you will never see any because they don’t exist.
OP - first step to not failing is not making excuses for that failure before it happens…
$10-15k/mo. That’s at about 20 hours per week billable. I do cybersecurity consulting. I enjoy what I do. This next year I’m planning to adjust some contracts at renewal that should push my income higher. I’m also working on releasing a library of materials, some for free and some with a subscription to create some passive income as well. Also next year, I expect to have sub contractors helping with some of the service delivery to drive income higher without purely trading hours for dollars.
$10-15k/mo. That’s at about 20 hours per week billable. I do cybersecurity consulting. I enjoy what I do. This next year I’m planning to adjust some contracts at renewal that should push my income higher. I’m also working on releasing a library of materials, some for free and some with a subscription to create some passive income as well. Also next year, I expect to have sub contractors helping with some of the service delivery to drive income higher without purely trading hours for dollars.
Man it seems you are searching the Graal answer for how to live life, you will fail at the first issue with that kind of mind xD
Hey buddy I have just started my new business. It will take time to evaluate all of this .best way to find out is to do itself .
Web Dev Agency.
making $30000 MRR with decent profit margin
How much is the net revenue after taxes, cost etc?
18 % taxes and 20% commissions
How does it work managing clients?Also do you outsource the work?
No have 25 in house employees with varying experience
I was making £15k pm up until COVID in travel. That took my business. Still not recovered. Would like to launch again in travel... looking at the eco- approach using rail trip packages.
Event Management in Southern California. We do any type of events but most popular in weddings, bachelorette parties, engagement parties, and brunches. I absolutely love what I do and enjoy working, it’s a newer niche so it mildly saturated and my “competition” is so out of my league it’s negligible. I’ve owned the company for 8 months after purchasing it earlier this year. Business was been around for nearly 3 years with great reputation that has stayed since my ownership. Revenue varies between 6k-15k with no ad spend and i’m averaging between 40%-50% margins. Not an online business. I personally would say its hard for people to replicate correctly, most see what I do and think they could do it themselves but those are the same “competitors” who come and go within 6-12 months. Social media is a pretty big component to our organic traffic that we get but we get tons of referrals and word of mouth bookings. I plan on spending on ads rolling into the new year now that I’ve rebuilt our website, systems, and SOPs for the last 7 months. This month only had 2 booking but translated to about $5500 net since they were both larger parties. We normally do about 5-15 booking per month but some of those might only bring in $500-1k in revenue if it’s a smaller event. Please ignore any typos or weird sentences I typed this on my phone, I’ll answer any questions if anyone has any.
How much time you spend on average during the month or during the day to organize such events for the month? 🤔
I make 1 million a month
I started a design digital agency a year ago and this is the first month I crossed the $5,000 a month. I had to pívot a lot though small wins right?
Here my new site.
Do you make over $5000 a month ? Yessir the business normal does over $40 k usd a month with 25% profit margins on average!
If you do can you say what you do- I’m an international electronics broker, I’m buying resell 10,000s of electronics locally and internationally a reasonable profit
How you started it? - I started at a necessity original selling business was a flop. Bills had to be paid. I didn’t want to get a job so I started fixing Phones as a side hustle. I noticed that I made more money but I can reselling electronics versus trying to fix them.
Do you enjoy your business? - Yes it pays the bills. The customers can be a drag borderline annoying and delusional yet comes that with the territory!
Is it saturated? - Yes every day someone thinks they can get into electronics brokering, buying and selling phones. However, its reach a sufficient level requires business acumen and professionalism . That most people don’t possess.
How much you spend on ads? - Nothing currently have the highest rated Google My Business in the area at over 600 reviews.
How much revenue/profit you make? - 600k This year- will average $150k in profit. Varies from year to year to year depending on market demand
Is it an online business? - this is a physical business that requires individuals to meet with customers in person
Would it be hard for someone to replicate? - It’s not difficult to start, however scaling to the point of where Im at is a challenge for most would be brokers. Most flippers have a challenge getting passed $10k!
How much does social media affect your business? - social media is becoming a more prevalent focus to reach a larger local audience
Startup Advisor: ~£4k per month
Interim/Fractional CTO: £10K+ per month
Ai/Automation Consultancy: £0 per month at the moment (just launching this)
Do I enjoy it? Yes, wouldn't waste time doing things that I don't enjoy
Ads: £0 all referrals at the moment
Online: Yes, I only do fully remote.
Replicate: If you have the experience, it wouldn't be hard. But, having the right experience is difficult to get.
Social media: No presence yet, although I am planning to get some up and running for the Ai/Automation consultancy.
£30k month online retail
Online business on what sector? 🤔
Amazon Etsy eBay etc car parts , craft , batteries varied
But what’s the margin? and the final revenue after taxes? 🤔
Yes,
Headhunter/Recruiter
Gross 450-500K a year
Net over 350K