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You have probably heard of the 4 Hour Work Week before.
Some people claim this is just a pipedream. In fact, not only is it possible but by offering your services as a freelancer with skills you already have, you may be much closer than you realise.
This podcast will show you how a 21-year-old has set up an online business that only requires 10 hours of work a week… to earn $50k+ a year.
In this podcast with Drew DuBoff we chat about:
If you’re like me, you probably can’t wait to hear about this!
Drew is still a spring chicken.
The difference between him and most 21-year-olds you will meet is this…
He will never need to get a “real job” because he has already found a way to make serious money online.
By checking emails and managing social media groups he has created an income of over $50k a year… and he only works 10 hours a week!
So how has he found these clients that are willing to pay him for this?
This is a great point that Drew made…
Get to know the people before reaching out to them.
Drew has done a few things to put his name on the map:
Do you notice that they are all easy to do?
But they are also easy not to do.
The difference is Drew did them!
This is the golden key to freelancing.
It is possible to charge a flat fee per month rather than an hourly rate. Some of the benefits of this are:
This means that you know exactly what your income is going to be each month and makes it very easy for you to know exactly what is expected of you.
Now, I can almost hear your mind saying…
Let’s just use an example:
Facebook group management.
The main job is to approve or deny requests and also ensure you help engagement in the group i.e. join in discussions.
The best way to know how long it will take is to watch how much is going on each day in that group.
For example, how many new subscribers join each day/ week and how many comments appear every day.
You can use this as a rough estimate to judge how much time will be needed accordingly.
But it won’t be until you try it out that you will be able to know exactly how much time you are putting in.
Drew breaks down a real example.
If you’re like me, then this will be super helpful and really open your eyes.
His example is to charge $1,000 per month to manage someone’s FB group and email.
Therefore, to manage someone’s email and Facebook group you can get paid $1,000 per month for less than 25 hours a month AKA 6 hours a week.
That works out around $40 per hour!
Have you noticed the key is that you don’t offer your services for $40 an hour though?!
Just think about what you enjoy doing the most or something that you are naturally good at.
As you can see the options are endless.
The key is to pick something and give it go.
If you become really good at something then marketing yourself will become much easier. In fact, you’ll end up at a point where you have to turn work away.
I really rated Drews answer to this.
Just real useable numbers.
Start at a $25 hourly rate.
Drew said he got lucky because his first client gave him a number and he based all of the future clients off this number.
Without a doubt, the first one will be the hardest as you will need to figure out how long things do actually take you.
But use the example above to guestimate how many hours a job will take. Then you offer a rate of $25 an hour.
If this can be a monthly retainer then even better!
Make sure you reassess after your first month to see how many hours it actually takes.
Not sure how to do this?
No worries, Drew has you covered…
If you’re like me you always love these tips.
Anything that saves time = good (in my eyes)
Automating allows you to go away for a weekend or go on vacation.
Let me ask you this… would you be willing to do VA work if you can just work an hour a day anywhere in the world? Find out more tips to Save Hours of Time & Money with these Resources
Create a “hire me” page on your website (if you have one).
Drop this link on your Facebook profile (and other social media platforms you use).
Find your ideal clients by finding out where they hang out i.e. use Facebook, Twitter, Reddit etc.
Drew’s opinion- avoid boards such as Fiverr, Freelancer or Upwork (there are scammers on there and it’ll take a lot of work to find the right clients). Typically freelancers undercut themselves. *He does know some people that do have success on these platforms though!
If Drew could go back to his class with his social media marketing teacher, he would give himself these 3 pieces of advice.
Drew was very honest here and admits how hard an online business can be.
But he also shares some of the best parts about starting an online business (*cough earning $25,000 in the last 6 months* cough cough)
You can get in contact with Drew on his website:
And keep your eyes out for 2 potential new projects too:
Also, he’s super active and helpful on Facebook in loads of groups so see if you can spot him there, he always responds!
So over to you!
What did you find useful from this chat? Are there any other questions you have for Drew?
Did you like the way he just gives you a number to start with ($25 per hour)?
Drop a comment below…
Mike has built a passive income online whilst working as a full-time PE teacher without any marketing or technical experience. Learn more about how he's done it here.