Is it possible to make a decent income with a work from home side business? And is it possible to have a side gig if you don’t have any money to start one?
Many people have successfully started side gigs while working full time.
Drop shipping, cryptocurrency, e-commerce, and day trading have become buzz words for those looking to make a side income.
More and more you hear stories about people who have launched careers or made decent money from side gigs.
But can you actually make 100 bucks a day doing these gigs?
The answer is absolutely you can.
But there’s one big problem.
Most of these businesses take money to get started. If you don’t have the money or budget, what are your options?
Here, we are looking at business models that do and don’t work if you want to make a side income from home, without a big investment.
We also cover one of my favorite and often overlooked business models, high ticket sales.
Watch this video about how to work from home and make $100 a day.
Home-Based Businesses Cost Money
A big challenge for those dreaming of paying off their debt or next vacation using income from their side business is the start up costs.
Depending on the business model, you’re paying for products, paying someone to design your website, or paying to maintain your website.
It also costs money to drive traffic to your business, either through ads or a marketing campaign.
The following business can be done from home, but need an upfront investment:
Amazon: Pay for products, buy from AliExpress
Shopify: Pay for software to maintain the site
Cryptocurrency: cost to invest
Day trading: cost to invest
There are many possible side businesses you could do and make a profit.
The problem, however, is if you want to start one of the gigs on the above list, you’re going about it backwards.
Cash Flow Before Wealth
I always tell my students to take care of their cash flow needs before they think about getting rich.
You want money coming in today, not after you’ve invested your savings into starting a business.
Make that first $50, then $100, then $200 a day.
Get enough income coming in after you’ve developed that high income skill.
A high income skill is a skill that can make you $10,000 or more per month and doesn’t require a degree or years of training.
After your cash flow is stable, you can diversify and test out some of these business vehicles: Amazon, Shopify, or day trading.
But first you need to have the skill set that will generate a certain level of cash flow for you.
What I recommend is to stop chasing the next big thing. I call that chase having shiny object syndrome.
Don’t get into cryptocurrency just because your friends and coworkers are doing it. That’s chasing shiny objects.
Many people are stepping over dollars to pick up dimes. They’re chasing shiny objects.
What I do and what my students do is the use the oldest way to make money.
I’m talking about using the good old telephone. It’s a simple tool to make $100 a day.
High Ticket Closing Business Model
If you want to work from home and have a side gig but you don’t have money for expenses or overhead, then take a look at this business model.
It’s the same formula I teach my students around the world: the high ticket closing methodology.
This is how it works: it costs more now than ever to acquire customers because the cost of advertising is increasing.
The cost of advertising is increasing because more competition in the marketplace.
Companies and entrepreneurs have devised a strategy to outdo their competitors.
They sell an initial product that’s under $200 to develop a relationship with a customer.
This initial product starts the relationship and opens up the conversation for high ticket sales.
The real money is made after that initial $200.
When a customer trusts the brand and the company, the company can follow up and offer products and services valued over $2000, or even up to $25,000 and more. That’s where the real money is made.
But there’s a problem. These $2000-plus offers are what I call high-ticket offers.
The problem is the prospect needs to be closed over the phone for high ticket offers. Rarely do people buy at that kind of price point by watching a video or looking at a website.
They need to have that one-on-one conversation.
That’s where you come in. Imagine you’re closing for a company or entrepreneur. Their offer is $1000. If you have good closing skills and they are willing to pay you 10% of the sale, or $100 commission.
If you’re closing those products and services for $1000, and you make $100 a sale, that’s $100 a day. All you need to make is one sale a day. One single sale to get your $100.
What’s your cost? Zero. How many websites do you build? Zero. How many products do you buy? Zero.
You’re not selling your own products or offers. You’re selling other people’s offers.
The company, influencer, or entrepreneur, is doing all the marketing. They are investing in lead generation, driving traffic, and building the sales funnels.
They’re creating the content by writing blogs, producing videos, and making the press releases.
They’re doing 90% of the work, yet they don’t make the money until someone like you, a closer, gets on the phone and closes these high-ticket deals.
Now, you might be thinking, how can you close if you don’t have sales experience? Or you want to try closing but you don’t want to be one of those telemarketers that you dread.
High-ticket closing isn’t about having sales experience or being a slimy salesperson.
High Ticket Sales Vs. Traditional Sales
High ticket closing is one of those rare skills that could make you $100 a day with no expenses and no overhead.
You don’t have to do a lot of prospecting either. But if you’re not talkative and you don’t like helping people, high ticket closing isn’t for you.
What you’ll be doing is starting a conversation with prospects who have already gone through a series of steps.
They’re already familiar with the business and their products after watching a webinar or going down a marketing funnel.
They’ve filled out an application form, and they’ve booked a time to speak to you, a high ticket closer.
Your role is to get on the phone with the prospect and then close the sale.
That’s the High Ticket Closing business model. No cold calling. No marketing, no building websites.
If you’re thinking, you don’t want to be a salesperson, this isn’t about being a salesperson. It’s different from traditional sales.
With the High Ticket Sales business model, it’s better if you don’t have a background in sales because you don’t have sales habits to fall back on.
You’ll be learning a new skill with an open mind and this skill will give you the potential to work from home and make a good income.
Final Thoughts on How To Work From Home Doing High Ticket Sales
It’s almost rare to meet someone these days who isn’t interested in a side gig or a side business.
If you’re thinking of starting an eCommerce business, or investing in crypto currency, plan to have some cash set aside. Ideally, you want to have steady cash flow first.
The business model I teach is High-Ticket closing. You don’t have to invest in marketing, a website, or products.
You don’t even need sales experience. Most importantly, if you’re closing deals for $1000, you can make $100 in commission daily if you close one sale a day.