How To Set Your Goal: Do You Really Need To Make Millions?

Last week I showed you how to make a Personal Manifesto, which is a written overview of your goals and all the steps you’re willing to take to make them come true. Now we need to talk about how to set those goals.

Maybe your goal right now is to “make millions online” or “make $10,000/day”. Well, in this post I’m going to tell you why I think setting that kind of goal can be a really bad idea.

Today I’m going to show you:

  • Why setting your goal to “make millions” can hurt you.
  • The strange (and low) $$ goal that big marketers start with
  • Why I think this dollar amount works so well

Sound good? Keep reading.

humble_beginnings

Humble Beginnings

When I created my Personal Manifesto in 2008, my goal was very simple. I wanted to be able to live without a 9–5 job so I could focus on music.

My goal was $100/day.

Why such a small goal? It’s simple. That was the amount of money I needed to cover my rent, car payment and living expenses.

I wasn’t trying to get rich. I was just trying to create more free time.

It took a while, but after a month of losing money I finally started to break even. Then I got profitable and started getting closer and closer to my $100/day goal.

On my first $100/day I felt like I was the king of the world.

  • I felt like I had beaten the Matrix. If I could keep that going, I was free.
  • I reset my goal to $500/day.
  • Then I hit that and reset my goal to $1000/day.

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Every time I hit a new daily profit goal I felt a huge surge of excitement. I wasn’t getting rich but I was making progress. And in my experience – making progress is the best high there is.

And because it feels good – it keeps you in the game.

lemmings

The Difference

Millions of people have tried to do this online thing. And millions of failed. But there are some of us that do really well at it, and last for years. What’s the difference?

Well, here’s what I’ve seen.

I’ve had long conversations with a sh#tload of uber-successful marketers and when I tell them my $100/day story, they laugh out loud. Because they did the exact same thing.

They set a similar, small goal and followed the same journey, hitting the smaller goals along the way.

On the other side of the coin – I have NEVER met an uber-successful marketer who started with a goal of making Millions. They may exist out there somewhere but in all of the meetups, conferences and get-togethers that I’ve been to – I have never met a single one.

That’s because most people who come in with dreams of instant riches and mansions and cars fade out and quit real fast. Six months into it they see that they’re not a millionaire yet and give up.

But when you set smaller goals (like $100/day), you keep going.

  • You’re continuously hitting smaller profit goals as you move along.
  • You get to experience win after win as you better learn the skills and progress into bigger campaigns.
  • Flash-Forward a year or two (or five) later you’re still in the game.
  • You get to leave the rat race and never go back.

This is what I’ve seen.
This is what I’ve experienced.

And it leads me into my next point:

Setting your initial goal to making millions of dollars is completely unnecessary.

Here’s why.

paycheckconfessions

The Average American Salary

Now, don’t get me wrong. I am a big fan of setting multi-million dollar goals. But do you really need millions? The answer is most likely “no”. To show you why, let’s talk about your real goal.

The real goal for most of you is pretty simple. You want to quit your 9–5 job, right?

Before you worry about being a millionaire – let’s get you out of that 9-5 job lifestyle first. That should be your first priority.

To do this – you don’t need “$Millions” (unless you’re currently making a $1Million+ a year). You just need to replace your current salary. Which is probably a much lower number.

The Average American salary is about $50,500/year

That number is going to differ depending on where you live, but for today’s purposes, that is the number we’ll use.

If you make $50k/year right now, all you have to do is replace that same $50k/year with your own business to be able to quit your job.

Let’s break it down:

  • Average American salary: $50,500 a year
  • Monthly Income: $4208/month ($50,500/12 months)
  • Daily Income: $138/day ($55,500/365 days)

So there it is. The average American makes about $138 a day.

You only really need to make $138/day to replace an average full-time job and completely leave the rat race for good.

And that’s great news – because $138/day is attainable on almost any traffic source and with almost any type of offer.

So why not rethink that Million Dollar goal and reset it to a very achievable $138/day instead?

That’s all the money you need to make to quit your job.

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Do you make less than $50k/year?

I know a lot of people who make a lot less than $50,500 a year. And if you’re one of them I have good news for you. The lower your income – the easier it is for you to escape the 9-5 trap forever.

If you make 1/2 the average, that’s $27,750/year, you only need to make $76/day to quit your job for good.

And to be honest with you, you could even settle for less. I would rather earn $24,000/year being my own boss than $27,750/year working for someone else.

Here’s The Simple Math

Instead of starting out by dreaming of “Making Millions”, set your goal to replace your current job.

The simple math to replace your job: Take your current annual income and divide it by 365. That’s your number to replace your job.

Or if you’re like me and would accept less money to be able work for yourself, set your goal to cover your most basic cost of living. (rent, bills, etc.)

The simple math for your bottom line: Take your current annual expenses and divide it by 365. That is your bottom line.

Let’s Sum It Up

  1. An American average salary is $138/day
  2. A lower-than-average salary is $76/day
  3. So let’s split the difference and see what we get…

It’s about $100/day.

Your mind should have just exploded.

That’s the exact number that I set in the very beginning.

Coincidence? I don’t know for sure but it certainly seems at the very least…

Suspicious.

Conclusion

If you’re a new online marketer (and are writing out your Personal Manifesto) – I recommend not setting your initial goal to “Make Millions of Dollars”. If you do that you are setting yourself up for failure, because if/when it doesn’t happen you might get frustrated and quit.

Every uber-marketer that I know started with a simple goal of making $100/day online. When they hit that goal they reset the goal to $500/day, then $1000/day and so on.

Set your big goal to $100 Million if you want to. Then set your smaller goal to $100/day. It worked for me and several others. It can work for you too – even if you only have part-time hours available to dedicate to it.

Wanna do well at this thing?

Dream big…

Then start small.

  • Vlad Molchanov

    Great post!

    • http://malandarras.com/ Malan Darras

      thanks for tuning in Vlad, always good to see ya

  • http://www.mikemrk.com/ Mike MRK

    This really helps you going on when you are struggling. Thanks :).

    • http://malandarras.com/ Malan Darras

      we’re all struggling at times Mike – some people give up – but we keep going – that’s the difference .

  • Pete C.

    I do the same thing as you did but procrastination kill my dreams. Anyway I saw progress since i read your blog so… Thanks.

    • http://malandarras.com/ Malan Darras

      quit procrastinating then – it’s not like it’s a disease with no cure. write down your goals and all the steps it will take to do them, and then do 1 or 2 things a day… every day. that’s it man

      • Pete C.

        Allright I will!

  • Vlad Bolovan

    This is misleading Malan… what is essential to this industry is volatility. You can get your ducks in a row and have profits for 3 months and after that go into testing mode again and burn some more cash. The idea with the profit per day/month is good -> advice on leaving your job when you make that money……. is wrong. You need to have more capital in your back to take that decision.

    • http://malandarras.com/ Malan Darras

      lol where did I say that if you make $100/day one time you quit?

      • Vlad Bolovan

        I didn’t say you said that. I said you gave advice on leaving your job when you make that money. As I pointed out at the start of my post… misleading.

        If you make 1/2 the average, that’s $27,750/year, you only need to make $76/day to quit your job for good.

        Overall good post though. I like the info you provide here and I appreciate it 😉

  • lukepeerfly

    Should also take in consideration any benefits your job comes with.

    • http://malandarras.com/ Malan Darras

      yeah exactly. and subtract gas and other work-related costs. all that sh#t. just come up with the number, divide by 365

  • Matt

    Epic post Malan! My goal is 50$ a day to quit my 9-5. Could you make a series on how to go about making it happen in a smart and sustainable way? Thanks!

    • http://malandarras.com/ Malan Darras

      you’re reading Part 2 of that series Matt… stay tuned.

  • Chris

    Good stuff, nice to know that 100$ a day can be obtained with most traffic sources and offers.

    • http://malandarras.com/ Malan Darras

      yeah man, go out there and get it

  • Fred

    Managed to escape the 9-5 in 2012 with apps and never looked back. Now learning a new way to make money online to add a new source of income. Beginnings are tough, no green days yet 🙁 Looking fwd to Part 2 and beyond

    • http://malandarras.com/ Malan Darras

      you’ll get the green soon enough Fred, just keep at it

  • Ryan

    Awesome post. I’m hoping to start up my first affiliate site this summer.

    • http://malandarras.com/ Malan Darras

      why wait? 😉

  • Trevor Rose

    Awesome post Malan!

  • Willy Enrione

    Thank You Malan.

  • Brian McKenzie

    My mind just literally SPLATTERED when I read the figures. $100 per day? HERE WE GO!?

  • Chris Frye

    Love this article – Thank you Malan.

  • Phillip Law

    Fantastic! Nice analytical breakdown for helping us understanding what we need!

  • Chad R

    Well said. Thanks Malan

  • Christina Cowden

    Thanks Malan, that was nicely put 🙂

  • Cody Oelker

    Great post!

  • Winston Dottin

    So true, you know I tried some other affiliate marketing sites and their so-called “mentors” scoffed at the idea of trying to make that little, even after i told them that those were my aspirations for trying to set myself up to get into a better place

  • Beerie Vance

    Good advice. Makes so much sense, especially when you put in the perspective.

  • Bret Royster

    Wow – I feel like I’ve received this advice before… Why did I abandon it?

    It’s so easy to get caught up in “move fast” and “shoot big”… And miss the obvious… Great post, man. Just now getting to it!

  • Joe

    Absolutely. Great way to end it, dream big but start small, that’s my aim too! thank you!