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

How you can apply the 1 — 50 Rule for your projects

Here’s a 5-step process for using the rule for your next ambitious project.

Step 1: Define what 100% of the results mean for your project

Be as clear as possible on that. Use quantifiable metrics:

. I want my users to make at least $100/month writing one hour a day five times a week.

  • I want my users to learn one new skill every month.

More examples to get you started

Create an email course

A few people I know created a course that was distributed solely by using email. It consisted of sending one important lesson every day for 30 days. This can easily be done using Mailerlite, Mailchimp or any mailing list product. If you have the content already, putting the product together should take no time at all. If you don’t have the content already, well, you’ve got a day between each email!

Depending on your “renown,” you can charge anywhere from $30 to $300 for such a course. If you make a single sale that day, you’ll already make $30. But what’s nice about an email course is that you’ll continue making money after its release, constantly increasing its value.

Create a paid newsletter

Niklas Göke

started a paid newsletter called Empty Your Cup using Substack. Within an hour, you can get it running , start building a list, and send emails. You can use Patreon in a similar way also, like

Shannon Ashley

did here.

Nik charges $5/month for it and signed up many people. This takes much less than 24 hours to get running and can bring you good recurring revenues.

Similarly, Shannon charges $5 or up to $20 per month for it.

Create an eBook from content you’ve already written

My first three books were put together in less than a day because the content was already written. I used Scrivener to take the best content from some of my most popular articles and I created books out of it. I published on Amazon Kindle and each book was approved within 24 hours.

Using Amazon Kindle, you can promote your book for free for a short period of time so you can gather invaluable reviews. Once you have a few reviews, the sales can pick up decently enough. If you do things right, selling 100 copies within a month is certainly doable, and the more reviews you gather, the easier it becomes to sell.

Create spreadsheet templates

My productivity tools are Airtable templates. They are worth something because they are organized in ways that save people time. And many people are not creative or knowledgeable enough to get them started from scratch.

I was charging $100 for the whole package and sold over 10 of them within the first week. Implementing these templates took me about 7 hours in total, so that’s worth more than $100/hour and they keep making me more for months after.

Conclusion

The 1 — 50 Rule is about releasing a product built in one day that provides 50% of the value to the user, then scaling from there.

This approach accomplishes two amazing things:

  • You receive early feedback from your users; and

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I’ll take you to greatness-affiliate marketer-self development https://askedwardeni.com.ng

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