Fastest Way to Make Money Online in 2023

Last updated: Jun 29, 2023

This video is about the fastest way to make money online in 2023, specifically focusing on service-based businesses and how to develop an offer to solve a problem and make money.

This video by Ryan Stewart was published on Apr 27, 2023.
Video length: 25:58.

In this video, Ryan Stewart discusses the fastest way to make money online in 2023.

He emphasizes the importance of making money in order to provide for oneself and highlights the challenges of living in the United States, such as rising inflation and housing prices. Stewart suggests that service-based businesses, such as agencies, consultants, and coaches, are the best way to make money online. He outlines a three-part process for scaling a successful service-based business, focusing on the offer, service delivery, and customer acquisition.

Stewart also introduces a chart to evaluate the impact and price elasticity of different service-based businesses.

  • The video discusses the high cost of living in the United States and the rising inflation rates.
  • It mentions the difficulty of buying housing and the inability of traditional jobs to cover expenses.
  • The video emphasizes the importance of making money to provide for oneself and family.
  • It highlights the need to find alternative paths to financial stability.
  • The video acknowledges that inflation and housing prices are beyond individual control.
  • The video asserts that making money is within an individual's control.
  • It emphasizes the importance of solving problems to make money.
  • The video suggests that solving problems for people with money ensures a steady income.
  • The video outlines a three-part process for scaling a service-based business.
  • It discusses the importance of the offer, service delivery, and customer acquisition.

Fastest Way to Make Money Online in 2023 - YouTube

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Section 1: Introduction and Uncomfortable Truths

  • The video discusses the high cost of living in the United States and the rising inflation rates.
  • It mentions the difficulty of buying housing and the inability of traditional jobs to cover expenses.
  • The video emphasizes the importance of making money to provide for oneself and family.
  • It highlights the need to find alternative paths to financial stability.
  • The video acknowledges that inflation and housing prices are beyond individual control.
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Section 2: Taking Control of Making Money

  • The video asserts that making money is within an individual's control.
  • It emphasizes the importance of solving problems to make money.
  • The video suggests that solving problems for people with money ensures a steady income.
  • It provides examples of simple problem-solving tasks like lawn cutting and high-impact services like marketing.
  • The video promises to explain how to find, analyze, and solve problems for clients.
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Section 3: Scaling a Successful Service-Based Business

  • The video outlines a three-part process for scaling a service-based business.
  • It discusses the importance of the offer, service delivery, and customer acquisition.
  • The video emphasizes the benefits of a productive service that runs on a tight process.
  • It suggests that offering custom work may not be as profitable as providing a consistent service.
  • The video highlights the need to acquire new customers to sustain the business.
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Fastest Way to Make Money Online in 2023 - YouTube

Section 4: Developing an Offer for a Service-Based Business

  • The video introduces the offer impact service impact chart.
  • It explains how the chart helps evaluate the impact and price elasticity of a service.
  • The video discusses the importance of information and labor in delivering a service.
  • It provides examples of problem-solving services like house cleaning and evaluates their information and labor requirements.
  • The video suggests using the chart to evaluate and develop offers for service-based businesses.
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Bad Service Offer

  • A bad service offer is one that is low information and high labor.
  • These types of offers are commoditized and have a lot of competition.
  • Examples of bad service offers include house cleaning.
  • Commoditized services have a race to the bottom in terms of pricing.
  • Bad service offers require a lot of effort for not much return.
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Okay Service Offer

  • An okay service offer is one that is low information and low labor.
  • These types of offers are easy to deliver but don't require much knowledge.
  • Examples of okay service offers include basic household chores.
  • Okay service offers are not highly profitable but can still be viable.
  • These offers are not as commoditized as bad service offers.
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Good Service Offer

  • A good service offer is one that is high information and high labor.
  • These types of offers require a lot of knowledge and expertise.
  • Examples of good service offers include specialized consulting or professional services.
  • Good service offers have high barriers to entry and less competition.
  • These offers can be highly profitable due to the expertise required.
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Best Service Offer

  • The best service offer is one that is high information and low labor.
  • These types of offers require a lot of knowledge but are easy to deliver.
  • Examples of best service offers include digital products or online courses.
  • Best service offers have high barriers to entry and low competition.
  • These offers can be highly profitable due to the low effort required.
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Section 1: The Importance of Speed in Service-Based Businesses

  • People want services that provide quick results.
  • Customers are not interested in long-term development or slow progress.
  • Exceptions to this are services with low effort or high upside, such as investing.
  • Understanding the psychology of why people spend money is crucial for making money.
  • Offer market validation questions help determine if a service is viable.
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Section 2: Home Contractor Services as a Fast Way to Make Money

  • Home contractors require a lot of information and labor.
  • There is a problem to solve with outdated houses.
  • Marketing for home contractor services can be challenging but also easily done through search marketing.
  • There is a lot of competition in the home contractor industry.
  • Home renovation services can add value to a home, making it a good investment.
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Section 3: Challenges of Service-Based Businesses like Landscaping or Lawn Care

  • Low-information services like lawn care can be a race to the bottom in pricing.
  • These services are often seen as commodities, making it difficult to charge higher prices.
  • It is important to differentiate and specialize in order to stand out in the market.
  • Landscaping and lawn care services require effort but not a lot of information.
  • These services can struggle with lack of conversions and difficulty in upselling.
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Section 4: Lack of Conversions and the Example of a Law Firm

  • A law firm may struggle with lack of conversions.
  • Law firms need to focus on improving their marketing and sales strategies.
  • Understanding the pain points and needs of potential clients is crucial for increasing conversions.
  • Offering specialized services and demonstrating expertise can help overcome conversion challenges.
  • Law firms need to address the problem of potential clients not converting into paying clients.
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Understanding the Relationship Between Labor and Market

  • The effort and energy required for delivering marketing services varies depending on the industry and the problem being solved.
  • The pain of the problem and the purchasing power of the target market are important factors to consider when determining the level of effort required.
  • Working with the right industry can significantly impact the success of your marketing service.
  • Market positioning and understanding the target audience are crucial for maximizing the effectiveness of your service.
  • Continuous evolution and adaptation of your service are necessary for long-term success.
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The Importance of Solving Problems Rather Than Offering Services

  • Offering a service without addressing the underlying problem may not lead to desired conversions.
  • Understanding the core problem and providing solutions that directly address it is key to success in the digital marketing industry.
  • Solving problems instead of just offering services ensures long-term viability, even as the industry evolves.
  • Conversions should be the primary focus, rather than just ranking high on search engines.
  • Being able to solve problems will always be in demand, regardless of changes in technology or platforms.
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The Importance of Lead Generation for Dentists

  • Instead of focusing solely on SEO for dentists, offering lead generation services that directly address the problem of a lack of conversions can be more effective.
  • Understanding what potential clients really want (conversions) and providing solutions that directly address that need is crucial for success.
  • By solving the lead generation problem for dentists, you can ensure a steady stream of clients and long-term success.
  • Offering services that directly address the core problem will always be in demand, regardless of changes in technology or platforms.
  • Being able to solve problems and provide tangible results will set you apart from competitors and ensure client satisfaction.
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Continuous evolution of service and offer

  • Continuously evolve your service and offer based on what works best.
  • Ask yourself if your service is the best way to achieve desired results.
  • Consider different marketing strategies such as SEO, paid marketing, or influencer marketing.
  • Validate the problem and ensure your service leads to more conversions.
  • Consider the competition and market saturation when choosing a service.
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Email marketing as a fast and direct path to conversions

  • Email marketing is a service that can quickly generate more leads and sales.
  • It requires a moderate level of information and effort to execute effectively.
  • Email lists are often underutilized and can provide significant results.
  • It is a direct path to more conversions and can be a profitable service.
  • Open rates may have decreased, but email marketing is still a core part of marketing.
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Social ads and content writing as services with pros and cons

  • Social ads can deliver results, but they require significant effort to set up and maintain.
  • Content writing is being impacted by AI, making it less valuable unless you have AI expertise.
  • Content writing can indirectly impact conversions, but it is not a direct path to results.
  • Social ads and content writing may not be the most profitable or efficient services.
  • Consider the level of effort and impact on conversions when offering these services.
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Link building as a less effective service

  • Link building has a lot of competition and is not a direct path to conversions.
  • It is a micro set of SEO, which is a micro set of marketing, making it less impactful.
  • Building links takes time and money, and the results are not guaranteed.
  • Link building is not a fast way to desired results and may not be a profitable service.
  • Consider the indirect impact on SEO and conversions when offering link building services.

Watch the video on YouTube:
Fastest Way to Make Money Online in 2023 - YouTube

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