Clickbait title not withstanding, the goal is to make a million dollars in my affiliate career. Currently I’m at $120,000 and it has taken me embarrassingly too many years to reach that number. Last 6 months have been tough personally. Revenues also have dipped significantly and now I’m almost starting fresh from scratch.
The Plan … Well it’s a little random but also quite simple. Increase the profitability by $500 every month. So, make $500 the first month, $1,000 the second month, $1,500 the third month, and so on. Of course the progress will not be exactly linear but the idea is to overall increase the bottomline by about $500 per month on average, for a long period of time. Seems doable, at least theoretically.
By above calculation, it’s going to be a very slow ‘Countdown to $1,000,000 Profits’ haha. It’ll take me about another 5 years (April 2019) to reach the goal. It may not be the most ambitious goal, but I’m not the smartest tool out there, so I’d be very happy to acheive that.
I’ll update the thread every month with the spend/revenue numbers and other details as I go along. Wish me luck.
Current Status (Updated 01 September 2019):
Time Left: 56 Months
interesting follow along
Nice man it’s always nice to have these goals to keep yourself ticking along. $497/profit a day is totally achievable. I’d be surprised that if you are still working on AM by year 3 and you hadn’t made it already.
Having a plan is even greater.
If you are seeking to achieve these types of numbers, then you need to start thinking like a business.
In business, just telling an employee, "Your target this year is $1,000,000 of profit" is NOWHERE as useful as sitting down together with him/her and planning HOW THIS TARGET CAN BE ACHIEVED.
In your case…
Since you cannot decrease your costs forever, you will need to focus primarily on how to increase your revenues.
2. There are really only three levers for increasing revenues. You can either sell to more customers, sell more things to each customer, or raise prices.
That is it. So you will need to come up with a plan for each one of these levers for your business. For example, what is your plan for generating more leads? For each lead that you generate, how can you monetise that lead even further? How can you raise the prices you can get for each lead that you generate?
3. If you fail to plan, you are planning to fail.
For each one of these levers, you need to have a practical action attached to each of the these. This will basically serve as the foundation for your plan. These are the hows for achieving your target. By just going through this planning exercise, you will already be much further ahead than most of your peers, many of them who are just flying blind and running from offer to offer, traffic source to traffic source.
I often hear people claiming that "It’s all about how bad you want it" or "I really want to be a millionaire/billionaire/gazillionaire".
Well, who doesn’t?
In business, it is not just a matter of wanting or having a goal. It’s MORE IMPORTANTLY, about having a clear plan for HOW you can achieve that goal that you want.
Well said cmdeal!
Failing to plan properly is planning to fail
I like how your Time Left: 59 Months <— realistic
Good job putting a goal man!
However IMHO the most important part is the process.
Come up with a detailed process how you going to achieve it, make sure it’s the right one and stick to it no matter what!
Bad days / losing money / failures shouldn’t discourage you as long as you work consistently and you follow the process you came up with.
I am pretty sure if you trust the process and don’t give up that $1mill is not too far.
Plan is good but you haven’t told here whats your method..So STM member can help you to achieve the goal/target.
** Update (01 July 2019) **
June 2019 Stats
Time Left: 58 Months
Well done! I like this countdown approach … it can really help you focus on the goal and keep your eyes on the prize.
Hey guys! As I mentioned in the OP, last 6 months have been tough personally. I hardly launched any new campaigns in that time and it felt like I’m almost starting from scratch. It was a challenge to start working on the campaigns again.
So I wanted to start a follow along and put myself out there. I don’t have a detailed solid plan (yet), but my main priority was to just be up and running, launch campaigns and get back to a work routine. Running PPV campaigns now,, the idea is to launch many new campaigns, get a decent number of them profitable, optimize and scale them. After reaching a certain level of monthly profits (probably about $10K/month), diversify into mobile marketing with a good testing budget.
Launched about 10 basic new campaigns in the last 12 days of June. I count 1 niche/offer as 1 campaign and not every traffic source or placement or angle. For example a credit report offer running on 3 ppv sources and different placements and angles is counted as 1 campaign only.
Thanks cmdeal. Totally agree about having a solid plan for the long term.
At the moment though, for a brief period of time, I want to just put in the hours and launch campaigns and not over-think stuff.
MrGreen, iAmAttila, bbrock32 …. Thanks for your comments.
** Update (01 August 2019) **
July 2019 Stats
Time Left: 57 Months
I like the idea of a countdown … keeps you accountable every month!!!
I’m shooting for the same idea with the countdown, keep it up!
** Update (01 September 2019) **
August 2019 Stats
Time Left: 56 Months
Dude sorry to burst your fun, but WTF? Why are you making all these fancy charts and data.. you’re wasting your time when you could be working on campaigns or coming up with ideas. I feel like way too much time was spent in organizing all this and doing it when you coudl be making money.
Also affiliate monies are by no means steady, you can easily find a winning campaign and make a crazy amount very fast thats why keeping track of stuff like this is pretty pointless / making estimates on time.
2 hours. Once a month. So, no big deal.
If you saw how much data we analyse on an hour to hour basis, you would think that what the OP is doing is just child’s play.
For us at least, data is the lifeblood of our business and our ability to analyse our data better and faster than others is a major source of competitive advantage.