The essence of the 4-hour work week is being able to set up a structure where you can generate income without you being part of that structure. This is very possible but will take time and patience for it to happen. Luckily for you, I have built several structures based on the 4HWW and today I am going to share with you one of my most simplest structures that anyone can do.
The 4HWW Launchpad is going to help you launch your own passive income business!
There are many ways to built a 4HWW structure but I am going to show you the one where is most simple and where results can be seen rather quickly.
Before we dive into my own structure, it is important to know that regardless of how and what you base your own 4HWW structure around, I was able to grow all my ventures very quickly by following these rules:
- Find a need
- Find a service that other people can provide
- Play the numbers game
- Ask for a testimonial
Find a need - find something where something is not done well or done rather badly and if done right, can benefit someone else tremendously. If you are able to find this then there is a good chance that someone is happy to pay you for helping them.
Find a service that other people can provide - try not to do the work yourself if you can help it. The more work you can give other people, the more time you have in making sales and profit, this is especially if the work is something you don't have knowledge or experience of. Your focus is to make a profit, not do the work itself.
Play the numbers game - success is all about the numbers. For every 9 times you don't make a sale, there's that 1 time that you do. And it's that 1 time is where you profit. The more you target, the more sales and profit you will make.
Ask for testimonial - testimonials and reviews are what separate you from everyone else. This key in growing your venture and your profit margin. The more good things people say about you, then the more sales you get from new and existing customers!
Now you understand the basic rules, I am going explain my simplest structure that can work for you. You will see that my structure follows the rules I've explained. Let's dive right in.
One of my most simplest and most successful ventures is providing a graphic design service targeting YouTube channels.
There are 100's of new YouTube channels every day, so that market is growing day by day. Nearly everyone that starts a new channel wants to grow views and subscribers. The bigger their channel becomes, the more money they make from ad revenue and the bigger the budget they have to market their channel further. Our aim is to profit from some of their marketing budget, which means that if we help these YouTube channels, we will get paid indefinitely as long as their channels grow. Their are many ways to help a channel's marketing but the simplest way is to create thumbnails for their videos.
Thumbnails are proven to increase views on videos because they are pleasing and inviting to viewers, that's why all the biggest channels have well-designed thumbnails on their videos. Luckily there are many channels out there with no or poorly-designed thumbnails, which means more potental sales for us!
Also, the great thing about YouTube is that there is every niche under the sun, from health & fitness, cars, gaming etc. You can be general or pick any niche you want. One of my first niches I picked was health & fitness. As you can see, there are large channels that have well-designed thumbnails and smaller channels with no or poor thumbnails.
Our aim is to target the smaller channels as they will be hungry and willing to accept your help. The ideal channel is where they have many videos but very poor or no thumbnails.
Since I picked the health & fitness niche, I simply searched for as many of the ideal channels as possible and made a list.
I then contacted all the channels on my list and offer to create thumbnails for them to help boost their views and subscribers. You can choose to charge them for those thumbnails straight away of course but I prefer to create at least 1-3 thumbnails free for them to give them value and some examples to work from. To give yourself a great position with your potential customer. Subscribe to them, like and post nice comments on their videos so they now who you are before you contact them because they are more likely to respond and buy your services if they are familiar with you than someone random.
Below is an extract of a template email I used to contact the YouTube channels:
Dear [YouTube channel name],
I am a subscriber of your channel and have enjoyed your videos a lot. Your video thumbnails have caught my attention and I feel that a lot can be done to improve them to help you boost views and subscribers. I would like to offer to help create great quality thumbnails so that your channel can continue to grow. I am happy to discuss further.
I look forward to hearing from you.
Remember, this is a numbers game so not all channels will reply to you. Best to follow up with 2-4 more messages to them before moving onto the next channel. The ones that do reply will be your potential customers and is why you will make your money because they are the hungriest and most desperate.
Creating The Thumbnails
There are several ways you can approach this:
Should you wish to create these thumbnails yourself in the beginning then that's fine. If you are already good at designing then great. If you are not a designer then I'd recommend you visit canva.com where you can create them for free.
However, as this is called the 4HWW Launchpad, I strongly recommend getting someone else to do it. You can choose the following ways.
Find a designer on Facebook - I've found hundreds of graphic designers in Facebook groups before. There's a large range of people, from new designers that can design for free to more experienced designers that will charge a small fee. Simply join a number of graphic design groups on Facebook and get to know the members so you can find out which ones are right for you.
We can create thumbnails for you - we have our own design team that creates thumbnails for YouTube channels. We have already done many thumbnails for many channels so we have plenty of experience in this niche. If you wish to order thumbnails from us, we offer the following packages:
Prices for number of basic thumbnails
1 = $12.973
3 = $33.976
6 = $60.97
10 = $98.97
Prices may differ for more complicated designs, email me for questions.
If you wish to order, email at - email@example.com and provide your instructions.
When you are speaking with a channel that wants you to design thumbnails for them, you can choose to accept their payment and then create them or as I recommended create 1-3 for free first to add value for them. I personally find that if I add value to them first then they are likely to provide me a good testimonial and are likely to buy more thumbnails from me. So when I started this, I spent a few dollars paying a designer to create my thumbnails and I offered them free to a channel. The channel not only ended up buy more thumbnails from me (he spends $200 a month for me to create new thumbnails for his new videos) and he gave me a great testimonial on one of his videos which led to other channels contacting me to create thumbnails for them.
So for an investment of around $30 in free thumbnails, I got $200 a month plus more business from 5 other channels, each bringing me $200 to $400 a month. And from those other channels, each also gave me great testimonials and even more channels contacted me for my services.
Over several months, I was creating thumbnails for around 200 channels!
Whenever you finish doing work for a new channel, ALWAYS ask them to create a testimonial video recommending you. Get them to add your email in their description.
Now we have laid the foundations. It's time to put it all together where it is manageable. Management is the backbone of the 4HWW and although is simple, it will take time to perfect, so be patient.
Make sure you have enough designers to take on the workload. If not you will need to find more. Always be aware of how long each designer can deliver the project and let your customer know how long it will take to deliver.
Always take payment first before doing any work, unless you agreed to do it for free.
When you are building your team of designer, a good tip for efficient delivery is to hire designers from different countries, so when it is nighttime for one designer in one country, it is daytime for another designer in another country. So if you have a large enough team and you time it right, your entire team is productive 24 hours a day!
Remember, your job isn't to design the thumbnails, it is to get more business and to manage the team. However, after while when you have perfected the running of your venture, you can then hire someone else to project manage and contact new channels for new business. I was able to find my project manager by joining a number of entrepreneur and business-related Facebook groups. Finding a project manager isn't something you should rush. Make sure you become familiar with someone and are confident in their ability before you allow them to manage your business. I would start off giving them a 1-month trial then 3 months before allowing them to manage it entirely. After some time when your project manager is capable of running things, you can remove yourself entirely from the process and it will still generate you $1,000's passively each month.
After I firmly established my thumbnail design service for health & fitness, I was able to remove myself from the process and still generate over $15,000 per month across 200 YouTube channels!
I used the new free time to set up the same service targeting other YouTube niches as well as other business ventures, that have helped me generate even more profit!
Hopefully, you can now follow my formula. Although it will take time, it is very simple to follow and see results from very quickly!
Now go set up your own 4HWW Launchpad!