The best business to start for students Where you can earn 1120 per day in profit not Revenue you Can do it while you're still in school And for anyone who's not in school you Could still do it only four hours per Day and at the end of the video I'll Tell you the Super Saiyan version of This that can make you a million dollars A year was one of the three businesses That I almost started before deciding to Start my gym and the business was test Prep and or tutoring most people go About test prep tutoring the wrong way You don't want to sell tutoring you want To sell the outcome of tutor which is to Get into either a job that's going to Pay more or be able to pass a test of Some sort or ideally the standardized Test which in my opinion are the most Valuable tests that you can help some Prepare for because when you get into a Better school either college or business School that has a material difference on The network that those people hang out With the companies that recruit from Those schools and the average salary and Earning capacity of those people College Was the original Biz op it was anybody Can come in and you will make more money As a result of going through this Training here's the same simplest model That works very time constrained that Anyone can do number one is that you
Don't do one-on-one you do one to many But you don't do unlimited because You're probably not good enough to do That yet but you can do semi-private the Reason semi-profits is one of the most Profitable service models is that you Can charge two-thirds of what you can do One-on-one but you can do it with eight Times as many people if you have a group Of eight students it's still a small Group setting they still get the Personalized attention but when they're Taking problems you can have them take Turn doing the problem versus teaching Someone on the property if you charge 60 An hour and you're doing one-on-one Which is the typical model that most People will do you work four hours you Would make a total of two hundred and Forty dollars versus doing one on eight And charging thirty five dollars with Eight people there you make Eleven Hundred for the same four hours this is When we talk about opportunity Vehicles Four and a half times more money per Unit of time because you have this model And not the 101 model from a money math Perspective you charge 35 bucks it's Cheaper than the 60 that someone would Charge one-on-one you might be better But you have eight people you're making Two hundred and eighty dollars an hour You do four of those hours a day you're Making 11 500 a day for four hours of
Work you're one of those people who was A really good student didn't know what To do you could make more doing this Than you being a doctor not have to go To school not have to take loans and Still have your entire day and just work From six to ten not bad what's cool About this you can do it at free Libraries I got tutoring I did it at Free Library she didn't have to pay for That I got to do it just at Cost all you Have to do would be to get students that Would pay you three times a week and you Would need 50 students to do that 35 a Session would be a very nice sweet spot That most people could afford and you Price that again based on the fact that They would make a hundred thousand Dollars more a year if they go to these Better schools in terms of packaging This I would prefer to get people to Prepay because I don't like Transactional one-off things because it Ties it too close to the time I'm Spending but I would work it out so that It would be 35 a session I could Probably estimate in order for us to Increase your child or student or your Own score every thousand problems Statistically gives you an extra 20 Points whatever that math would be that Would be obviously a core part of my Selling pit we have to get you to do This many problems which is going to
Take this much time and so I would sell The goal which is how much do you want To increase your test score from a Curriculum perspective you have a Three-day curriculum that you teach the Class A and Class B separately and then The last day you do is the makeup for Those people but they would still have To pay the same rate but that way they Don't fall behind so you literally don't Have to do anything during the day you Could work a full-time job you could Play video games all day and then just Do tutoring four hours test prep is Extremely repeatable if someone does the Work they did a research study the test Scores that people have on sats and GMAT Is directly proportional the number of Problems they solved before taking the Test it's a very clear input output Equation the more problems someone does The better their scores are when I Learned that one research graph I bought Every single GMAT phone book that I Could find at Barnes and Nobles and I Did all of them and that's how I scored Above Harvard's GMAT and it took me four Months to do that I worked personally Four hours a day doing problems on Saturday I would do a test to test my Score to see if I got better kind of Like chess where there's pattern Wrecking initially I was more motivated To be good at this test than any test
I'd ever taken which is why I got so Motivated to help other people do it too Which is why I started thinking about That business so if you are somebody who Was pretty good at school was pretty Good at standardized tests this is a Really great opportunity that you could Make top one percent earnings with no Capital out of pocket no rental space no Build out first thing to do is hit up Your network all the people that you Know go knock doors but also dming People that are in your high school you Can say hey do you know anybody who Needs test prep Services I got this Score and I moved my score from X to Y Just doing this I'm walking people Through it so that they can get the same Test scores because I was able to get Into a better College as a result of This course here's where I was here's What happened here's the method I used Here's the outcome of the Improvement I Would also be edming parents and adults Because I have no shame if you want to Start a business you should probably get Rid of your shame because you're going To get embarrassed so you just ask lots Of people and if you ask enough people And say hey I'm giving a free session to Show how my whole method work and I'll Do it for free and if it makes sense for Them awesome and what that is is really More of a half assessment into a sales
Pitch you do a little bit of at the Beginning show them one easy win they They can have they see an improvement And then you transition like this is how I teach do you like that you give the First five to ten for free and you do That you say you have to do your Homework and every day you don't do your Homework I will bill you you have some Skin in the game and then they might Even like that where they're going to be Way more motivated to actually do the Work and then in so doing they will get Even better test scores at the end of That there's three things you're going To ask for them feedback on things that Could be better your testimonial and You're going to ask them for a referral There's the big three that you're going To do in exchange for doing the work for Free if you get more than 10 people who Really want then guess what you can just Start charging once you have the Referrals and the testimonials posts the Testimonials let me know if you're Interested too very simple they post Anybody who engages you can DM them with Better offer if that was my first ten my Next 10 I'm doing for half off those are Not super hard ride hooks because They're inspiring for a lot of people People think it's cool and then you have Call to action switch drive into your DMs and then you can upsell them from
There beyond that the other two ways Would be reaching out to people who you Don't know not just people you do know And then running ads most people could Just do people they know referrals going To sports teams where they need tutoring And saying Hey I'm know some of these Guys are worried about getting into School I know they're not trying to go To Ivy but they need to get above an X To get in with their sports scholarship Or whatever you can go to the teams it Spreads really quickly and then all the Lacrosse dudes or all the hockey dudes Could come at the same time after Practice you do a good job the word of Mouth will spread that's it it doesn't Have to be a complicated amount maybe it Takes you six months to build up your Student base to be at a thousand bucks Or 1100 bucks a day would you rather do That than spend four years in college go Into debt and not make money the entire Time and have to work full-time to do That your fault so you could do all that Stuff that I just said on your own with Basically no help and get yourself to a Top one percent earning income which is Better than anything you're going to get After college anyways you could do it in Six months without risking the money the Time and the debt but if you wanted to Go Super Saiyan you can have other People do those things for you because
Then you just get really good at getting The students to sign up and say yes and Then you templatize your process for how You get them to do more problems because That's the most predictable way of Increasing their score and so then you Have a teacher who you can pay 50 bucks An hour you make the spread between the 280 and the 50. and many teachers will Happily work for fifty dollars an hour And if you really wanted to run really Crazy margins which I prefer to I like To have my service based margins to 80 Or higher which means that my cost per Unit below 56 so 50 works there that Means you can pay good people they could Make more than they're making with the Real job they're happy to do it the Students are happy to pay it because It's less than 101 and then all the While you get to scrape everything off The top without ever having risk and Then those four hours you get back what Do you do you promote more you Market More you sell more you get more people In and you find other teachers so then What happens is you start getting a Development pipeline for getting Students in and a pipeline for getting Teachers in hey teacher at set 50. do You have any other teacher friends who You think would be good at this yeah I've got 10 friends who would love to Make twice as much money in half the
Time great send them my way then you get A line of teachers who are waiting for You to find them students and a lot of Students that are ready to come in Groups you want to go God mode you can Do four teachers rather than one and They're now getting paid 50 bucks an Hour you're still making your same 280 But you're making 1100 ish per hour Because you got four guys working so at The end of the day just that half day of Four hours with four people working You're making 4 400 and you paid each of Them two hundred dollars each eight Hundred dollars off Forty Four Hundred You're looking at thirty six hundred a Day does anybody know what it takes to Make a million dollars a year in income Survey says 3 300 a day you're at 36. Guess what you now make a million Dollars a year you're more than above The top one percent and you do it with Four employees that are part-time and Some Hospital