How to make 6-figures
Knowing how to make 6-figures is life changing. Granted you don’t increase your spending habits right away, making $100,000 and more will open up so many opportunities for you. If you don’t know how to make 6-figures then you need to learn.
Thankfully you can. While you might need to be a genius with a crazy desire to work all day everyday to become a billionaire like Elon Musk, you only need an above average work ethic, decent game plan, and consistent execution to learn how to make 6-figures.
I’m not saying it’s a walk in the park. But I was able to make 6-figures in sales my first year out of college. And then even more after that. I also lived in a very expensive area, and if I lived in a cheaper area I wouldn’t have made the same. But I was able to scale that up and make 120k, then 140k, then 165k, and then 200k. And while I had a job, I knew that I wanted to be able to make 6-figures on my own, and live somewhere else.
A lot of people will talk about doing what you love. I didn’t love sales, but I was fortunate to have a good company to work for and the opportunity to make a lot of money and save.
While loving what you do is also important, especially in the long term, you may need to suck things up for a while and grind before you can really enjoy things. I’m extremely thankful I was able to suck it up and do something I didn’t like in order to put myself in a position now to make money doing what I love.
Why making 6-figures is important
If you have no desire to make money, you either have rich parents or you haven’t realized the value of money. I’m not saying you need to become rich just for the fact of being rich. You don’t need to have a net worth of $100,000,000. But learning how to make 6-figures will give you
- Less stress
- ability to build a savings
- money to travel
- opportunity to create real wealth
In this material world, money matters.
I wish it didn’t and we could all get along. But making money is critical so you can live life freely. If you don’t care about money and don’t watch your finances, you’ll end up as a wage slave. Even if you have a good boss whose morally sound, you still have a boss. And he or she probably has bosses. Other people are in control of your income. So you better be getting paid a lot or have a plan to control your own money.
Either way – you need to want to make money so you can have options. Money gives you the ability to not worry about the future. It allows you to travel. If you have kids, money can help give your kids the best options. Or at the very least money lets you have more time with your children.
And when you learn how to make 6-figures, and also still live modestly, you can create real wealth over time. Combine that with something you actually love to do, and you’ll become a happy, successful person. But it all starts with getting yourself into that position. Which means getting your income up to at least 6-figures.
How to actually make 6-figures
In order to actually figure out how to make 6-figures, you either need to
- Get a high paying job
- Start a business
That’s pretty much it. Short of winning the lottery or being born rich 0in which case you’re not reading this – you either need to make a lot of money working for someone else, or make a lot of money working for yourself.
Get a high paying job vs Starting a business
There’s pros and cons to both working for someone else and starting a business. Any consistent reader here knows I always push entrepreneurship for guys serious about financial freedom, but it’s not for most people. So consider the pros and cons of each before deciding on your path.
Get a high paying job
- Consistent paycheck every month
- Don’t need to grind it out to start a business
- Benefits like health insurance, etc.
- Feeling of “safety net”
- Can actually still be fired
- Need to deal with work politics and dumb people
- No as much opportunity for increases in money and opportunity (can still be some)
- Can’t voice true opinions
- Have a boss and people who control your income
Start a business
- Can actually make more than 6-figures, unlimited earning potential
- No boss or dealing with people you don’t want to
- Can live where you want
- Can be as transparent with yourself, customers, and the world as you choose
- Possible to build up close to passive income after years in the business
- Hard as hell to get a business started, let alone make 6-figures. Needs 2-5 years of tough grinding.
- No special benefits
- Your business can fail, no feeling of false “safety net”
- Need to self motivate
Which is better?
Everyone is different. For most of society, the best way to learn how to make 6-figures is to get a high paying job. That way you can fit in socially, be accepted, and still earn money while feeling “safe”.
But for most of you men on here, who are real alpha males, the best path is starting a business. Although a business can fail it’s less likely to do so if you start the right business and grind things out. Plus, you can make as much money as you want.
When you own a business, you control your income. If you’re willing to grind and sell or out-market the competition, then your business will grow. You’ll know how to make 6-figures within a few years. And after a decade you can build up even to 7-figures or more.
If you hate having a boss, and you’re a true alpha male deep down, then you need to work for yourself. There’s no two ways about it.
So if you want to become a doctor, lawyer, or corporate manager / mid-tier exec, then by all means I wish you the best. But for the men who want to escape wage slavery and make six figures, here’s the game plan.
Making 6-figures with your own business
The first step you need to do is save, which likely means having a boss for a few years. This is also if you have no debt like a mortgage or an expensive car. If you have any massive payments, either get out of them or pay them off as soon as possible.
The first real step is to save. You need to spend less money and work a job. If you’re younger, then you can get started on your purpose right away. But for most of us, this means you need to save money from your full time job. I actually made 6-figures from my full time sales job. It was a grind, but I managed to make good money. And I also saved the vast majority of it.
If you get into corporate sales, then you too can figure out how to make 6-figures just by cold emails and cold calls. And then you work on your purpose on the side. Or if you’re an engineer or software developer, you can also make 6-figures fairly early on.
And in fact, the more money you make as your wage slave job, the less stress you’ll have with growing your side business. But you still need to save. At bare minimum, you need 25k in the bank before you break away and work on your purpose full time. I recommend even getting to 50k or 100k. The more the better.
Create a purpose
While you’re saving working full time, you need to create a purpose. This is something you love to do, are good at, and can make money with. If you’re not good at it, you need to at least have a knack for it and be able to get good at it. Loving what you do is crucial, because you’re going to be doing this full time later.
It’s much easier to learn how to make 6-figures when you’re doing something you enjoy. You can still do it when you’re at a wage slave job. But when you work for yourself, you need to love what you do. Especially as you build it up.
Figure out how to help people, create service
Now it’s time to actually make your purpose into a business. This means figuring out a way to provide value to others so you can make money.
You can sell a service, a product, or both. I recommend a service, as you’ll be able to make money within a few months and get started quicker. You can always move into products later.
Product companies are much more scalable, but they’re also much harder to build. They require more money to invest in. If your product company fails, then you’re left with little money, let alone the chance to learn how to make 6-figures. But if you start a service business, you have very little overhead costs. So if you do fail, you won’t have burnt through your savings. You can start a service business and spend less than $100 or $200 on a website, business phone, etc., before you get your first client and then can re-invest.
6-figures by the numbers
In order to know how to make 6-figures with your business, you need to sell your service or product.
6-figures is $100,000 a year. That’s $8333.33 a month, $273.97 a day. And if you want to make 6-figures for yourself, then your business should be doing over that so you’re able to tax into account taxes and reinvesting in the business.
So if your business can make $150,000 to $200,000 or more a year, you can know how to make 6-figures with your own business. It may sound like a lot of money. Especially in your first year. But that’s a small amount of money for a small business. And the more you can scale up while keeping costs down, the more money you’ll be able to pay yourself.
And you don’t need to make the 6-figures your first year. You can scale it up and make 30-50k your 1st year, 60-80k your 2nd, and 100k your 3rd. Some men will take 5 years to make 6-figures, others might be able to hustle and do it in 2.
It takes a few years of grinding before you see any real results, let alone 6-figures. While this may seem discouraging, it’s actually the opposite. It’s okay if you haven’t gotten any income when you just started two months ago. Keep on grinding, you have time. Just put in the work.
If you have a valuable service and stick to working, then it will come.
The two ways to sell
You can either sell
- B2B – Business to business, aka you sell to business people
- B2C – Business to consumer, aka you sell to everyday people
Selling B2B means you’re a business and you’re selling to other businesses. So you’re targeting working executives in the corporate world. You can use cold emailing, cold calling, and digital marketing (with a focus on ads).
Having a nice website that can convert leads into prospects helps too.
But a big part of B2B sales is generating enough meetings with C-suite executives, pitching them on your business, sending proposals, and following up. Although B2B sales can much be longer and harder than consumer sales, the benefit is that the money can be dramatically more.
When I was in B2B sales, the average deal size was $40,000 USD. With $20,000 on the low end and $80,000 on the high end. I only made 10% of that, but when I closed well over $1,000,000 a year, I was making 6-figures.
And if I owned the business, I could’ve made halfway to 6-figures or even 7-figures if I kept all of the money.
Even if your B2B business only does a few hundred thousand, you can keep most of that money. You can re-invest some of that back into Facebook, Google, and LinkedIn ads.
The other way to sell you you can know how to make 6-figures is B2C. This means any regular person, a consumer, is your potential customer.
This applies if you’re selling online products, coaching services, personal training, accounting, landscaping, and so on. The benefit is you have way more potential customers and the deals are much easier to close. But you also need a lot more deals to get the same kind of revenue.
For B2C, you can still pitch people in person. This works well if it’s a business that is physical. Like personal training, or any interaction where you’re with a client or at their house consistently.
The best way to go about B2C, especially online B2C, is to focus on digital marketing. Things like Facebook and Instagram ads, and SEO through blogging / youtube.
Cold calling and cold emailing can work if you’re selling expensive services. If you’re selling a $10 book, there’s no point in direct sales. But if you’re selling personal training or landscaping, you can be making a few hundred bucks per customer a month. So it;’s definitely worth it to do direct sales in those cases.
If you’re selling high end services to wealthy customers, build a network through local organizations (like a church or religious group in a nice part of town) if you want to make things easier for you.
Building wealth is essential to getting ahead in life. If you want to be able to travel, not have a boss and be a man, and be able to take care of your family if need-be, you need to make money.
And not just minimum wage. You need to know how to make 6-figures. The best way you’re going to figure that out it starting a business and working like hell the first few years to grow it. It’s tough, but your future self will thank you.