Member-only story
Use The 1–50 Rule to Make Money Within the Next 24 Hours
A fast and profitable way to launch new projects
I stopped counting how many products and services I’ve built that have made money from day one.
I’m not talking huge money, but money nonetheless. What I’ve learned will change your mindset forever on how to approach new projects to test their viability.
Here’s the method:
The 1–50 Rule
For any new project you’re thinking about starting, ask yourself:
How can I build and launch this in ONE day and still deliver 50% of the results?
We all have big ideas. Ideas that would take weeks, months, or even years to build. I have those at least once a week and, obviously, I can’t build them all.
For example, I know a few people who want to start coaching other people but take months before they release their services. I did that in an hour or two using Magnifi.io.
It takes only a few minutes and you can start coaching others right way. You set the price per minute. People can call you during your available hours or can book online appointments with you.
What’s important in a coaching business? Bringing results for your clients. That’s it. That’s more than 50% of the results in less than a day’s work.
You can charge any amount of money you want per minute. I was charging $5/minute, which amounts to $300/hour if fully booked for the hour.
I’ll mention other examples below.
What makes the 1–50 Rule work?
1. It forces you to think outside the box
Are you scared of starting a project because it’s too ambitious?
We’ve all been there.
Maybe you decided to start with a Minimum Viable Product (MVP) but you really couldn’t figure out where to cut the development costs. If you’re thinking “development,” you’re already thinking too far.
Start thinking about how can you cut the development of the product to one day. Stop saying it’s…
