💸 Legit way to make $1,000 a day

GM. This is Work "After" Work, the newsletter that leads you down the road to success in business. Hop in and enjoy the ride!

It's Friday, let's boogie:

• 🧑‍🏫 Making $1,000/day tutoring

• 🔮 2023 Predictions

• 😂 Meme of the day

THE RIGHT WAY TO RUN A TUTORING BUSINESS

If you're in school, fresh out, did really well on your standardized tests, or are currently running a tutoring business and looking for a way to scale it, this newsletter is for you.

The first thing you need to know is that most sell tutoring the completely wrong way. You don’t want to sell tutoring; you want to sell the outcome of tutoring.

So, if you were helping someone prep for their SAT - helping them achieve a higher score means they get into a better college, which gives them:

• A better network of people to hang out with in college

• Better companies that recruit from those schools

• And a higher average salary coming out

How do you scale this business into something generating $1,000 a day in profit?

Take out your notepad - class is now in session. Ay-Ay-Ron please raise your hand.

The first thing you need to do is throw 1 on 1 tutoring out the window. The numbers just don't make sense unless you literally change $300 an hour.

Semi-private group sessions are the way to go. If we follow the numbers, 1:1 tutoring will yield you maybe $60 an hour. Semi-private groups on the other hand, even at a lower rate ($35/hr), will yield you over 4 times more:

I even have a way to supercharge this business and make you well over $1,000 per day. I gotchu later in the email!

The other thing you need to know when starting this business is this simple formula: the more questions one practices before a test, the better one scores.

Your job is to get students higher test scores. Do this by having them constantly solve problems and answer questions, and give tips and tricks when they're stumped.

Now that we've got that under our belts, let's go over the math of how you're going to make $1,000 a day.

With your 8-person sessions, each hour you're going to make $280. That means you'll need to put in 4 hours per day and you'll be at $1,120 per day.

HOW CAN YOU START THIS BUSINESS? HERE'S YOUR 3-STEP APPROACH

1. Use your network

The first problem you're going to run into is having no clients.

You might already know some of your high school friends or their siblings who need help. Hit them up and see if they're interested in you tutoring them.

Getting people in your network will always be the easiest way to gain initial clients. Once you exhaust those options, you'll need to start reaching out.

What do you say for your outbound messages? Try this: “Hey! My name is Faares and I help students score 50-100 points higher on their SATs. This leads my students to being accepted into more prestigious colleges and ultimately higher paying jobs and better opportunities.

I do one free trial for every student so they can test out my teaching style and curriculum. Please reach out to me if you're interested!"

You can target students but I think targeting parents would be an even better move. Think about it, they are the ones who will ultimately pay you and care, probably more than their own kid, about what college they get into.

As you start to do these tutorial sessions always ask for these 3 things – feedback, testimonials, and referrals. This helps you get better and helps grow your business.

If you're falling flat with no one interested, try this! Offer students the first 5-10 sessions free if they submit the homework you assign. If they don’t submit their homework, you’ll bill them.

This will instill good habits and get students somewhat motivated to get better because they won't want to pay money.

They do the work, their test scores improve, and if they don't do the work you get paid, kind of a win-win situation for you either way. If their test scores are increasing, they'll come back wanting more than just 5-10 sessions.

2. Use your testimonials as ads

After you’ve taught a few students and gathered their feedback, testimonials, and referrals it's time to use those to get more clients.

One of the most popular techniques is to post ads with your testimonials.

Here’s a few examples:

Show that students are gaining higher test scores with you and your traffic will increase along with your word-of-mouth referrals - the cheapest form of advertisement. People trust what other people have to say!

If one of your clients tells their friend, “Hey, I heard you’re struggling with the math portion of the SAT and need to score well to get into your dream university, UCLA. My SAT went up 50 points after Faares started tutoring me, he can teach you and help you get your scores up too!”

You just scored a client without even trying!

3. Hire others to tutor for you

Remember how I said I'd show you how to supercharge this business? This is how. Here's the situation:

You’ve gained more clients than you can keep up with and you’re panicking! You can’t teach all of them and you don’t want to turn them down, or the money. Here’s what you're going to do.

If you're tutoring at a school, you essentially have access to unlimited tutors. All the teachers around you are likely willing to tutor a group of 8 for $50 an hour considering it's almost double their average salary of $27/hr or the same pay for professors.

Take the difference and rake in $230 per hour. Later, you can always get that teacher to refer more teachers to increase the number of people working for you.

Now the fun part - the math.

If you're able to successfully grow this business and hire 4 teachers at $50/ hr, that's $200/hr.

You run 4 classes with 8 students each paying $35/ hr - that's $1,120 or $920 in profit.

Turn this into a 4 hour session and you're all of a sudden grossing $4,480. Take out $800 for teacher costs and you're profiting $3,680 per day!

This is 100% doable. Start small, focus on your students getting better test scores, show results, and scale as you grow.

Go get that bag - happy hustling! 👊

2023 PREDICTIONS 🔮

With 2023 right around the corner, I thought it'd be fun to see what people are predicting will happen next year!

First up, we've got Shaan with some interesting ones:

My personal predictions for 2023:

1. The creator economy will grow even stronger and we'll see the first YouTuber billionaire

2. SBF gets 30+ years for FTX scam

3. All markets, especially crypto, will get crushed, by at least another 35%, then have a massive comeback in late 2024 (when this happens buy like crazy and you'll become rich)

MEME OF THE DAY

Trust me, it's worth the watch 😂😂

And that's a wrap for this year! I hope you all have a Happy New Year - see you in 2023! 🥳

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.