How to Make $100 in a Day
Monday, May 31st, 2010That actually wasn’t my first choice for a title, but it’ll do better in the search engines, so I’ll give that a whirl.
Anyway, you may recall my little weekend experiment. The experiment was to make $100 by 11:59 p.m. on May 31, 2010.
First, some background…
BACKGROUND
I wanted to purchase an online product that cost $20 PayPal. However, I made a deal with myself that I would only buy it if I could earn the money over the weekend. So, it was a nice challenge for myself.
However, going all out to try to earn twenty bucks online seemed, well, kind of lame. Plus, it’s not terribly interesting. So, I thought it would make for a good experiment to up the ante. If you hang out in any of the Internet marketing forums online, there are always people coming in wanting to make money fast. I thought a goal of $100 was more realistic while also a big enough payoff to make an effort worthwhile.
If I accomplished it, it would prove that it could be done. If I came in under a hundred, I’d still accomplish my personal goal of earning that twenty bucks. Unless, of course, I came in at under twenty or nothing at all. But, you have to think positive. In any event, I’d get a blog post out of it. And, if I were smart, I would have packaged this up as a “special report” and sold it.
So, be happy me stoopid cause you is getting some frees infurmayshun here.
Anyway, so that’s what set the stage for a weekend experiment in making $100 online, payable through PayPal so the money is actually accessible.
WHAT TO DO TO EARN THE MONEY
As said, the goal was to have the money in hand (er, in account) at the deadline. That meant things like Google AdSense and many CPA programs and affiliate programs would be out because you might earn the money, but you wouldn’t actually have it in hand until they write their checks or issue electronic deposits, and so on. There are some that pay instantly through PayPal, but sometimes affiliate programs are a crapshoot. You could get an immediate payoff, but not always. Personally, affiliate income I’ve made has been over time and not instant. Normally, if you build a campaign and get a sale within a few days, that’s not too bad. But, when the goal is faster than that, especially on a holiday weekend, a few days is too long.
Likewise, selling something on eBay or any other online site like that probably wouldn’t work well. You could do a short auction, but you may not get as much as you would ordinarily. If you were in a pinch, it could be done. Otherwise, you’re better off doing it where you can maximize your profit on whatever you choose to sell.
What that leaves you with is offering a service that can be performed or delivered online. If you’re using a computer to get online, you probably have some skill you can offer as a service. Forum commenting, writing articles, building websites, creating graphics, etc. are all possibilities.
I offered article writing, editing and graphics as possibilities. Ordinarily, you might put up a set price for services, but I went with a name your own price option, hoping that would attract more buyers.
GETTING THE WORD OUT
Here’s where some people would have a problem. I used both my blog and Twitter to get the word out about my offer. So, I had pre-existing assets I could utilize. The work I did end up doing came via Twitter and not the blog.
Not everyone who needs fast cash is going to have assets like that. However, you could set up a blog on Blogger (free) and then set up a Twitter account (free) and then spread the word. Just do not spam, because that’ll get you taken out of either one of those. Even still, it may be an uphill battle for most people here. And that’s why it’s important that you build your online assets (blog, social networking friends/followers, lists, etc.) before you need them. For example, there are people with big lists where all they have to do is offer something like a Memorial Day special over the weekend and, boom!, they’ve got sales.
So, this is the tough point. Maybe some other weekend I’ll try a similar experiment but without using any existing assets.
THE RESULTS
I did it. I made $100 in under 31 hours from the time I posted to the time I got paid. (And I got a regular night’s sleep in between). From the time of first contact with the client to getting paid, it was about 23 and a half hours. Thus, technically, I made $100 in under a day.
On Twitter, I have a ton of marketers following me. A ton. I expected at least some of them would respond to the article writing service. My expectation was that I would get 4-5 people offering $20-$25 for article writing and that’d be how I’d earn the $100.
Instead, I had only one person contact me. For the purposes of the experiment, that was disappointing. As mentioned, I expected at least 4 or 5 people. But, personally, it was great because I only had to work with one person, so I didn’t have to try to juggle 4-5 clients with multiple projects over a very short period of time.
I did what was essentially article writing and was paid $100 for all the work I did. Hopefully, the client feels they got their money’s worth, because I feel like I earned it. I know some people can bang out articles like there’s no tomorrow, but I spent time on these. I’m not going to give to someone else something I wouldn’t put on my own website. And by my own website, I mean the websites I own other than this blog, because the bar on this blog is so low it’s practically rolling across the floor and you have to be careful not to trip over it.
The bottom line is that I did what I set out to do, which was to make $100 over the weekend. And, that actually turned out to be $100 in under 31 hours from posting the offer to money in my PayPal account. So, the proof of concept is there. It is possible. It can be done.
And it was fun. Maybe I’ll try to repeat it on some other weekends too with some variations on technique.


