Week 2: Earning more money

Ramit Sethi · January 11th, 2010

This is week 2 of the 3-week overview course on earning more money. Last week, we learned:

* * *

A few new things:

Quiz: What is your earning potential? Choose the answer you agree with the most
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1. What’s coming this week. I’ll be covering the risks of earning more (perceived barriers), specific tactics on how to turn your knowledge into income, posting some actual email scripts that a successful freelancer used, and posting the Money Diaries of someone who’s earning money on the side.

2. Video office hours will be this Wednesday at 7pm Pacific, where I’m live and answer any questions you have.
When: Wednesday, January 13th at 7pm Pacific (10pm Eastern)
Questions you want me to answer? Ask them below in the comments or during the webcast

3. Get the free advanced course on earning more. If you haven’t already signed up for the free 1-week advanced course, do it:

Do you know your actual earning potential?

Get started with the Earning Potential quiz. Get a custom report based on your unique strengths, and discover how to start making extra money — in as little as an hour.

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  1. Wednesday, January 11th? Do you mean Monday the 11th(today) or Wednesday the 13th?

    Looking forward to seeing this happen live. I always miss these things.

    • Ramit Sethi

      Sorry, I meant this Wednesday, January 13th. I updated the post.

  2. Tyler WebCPA

    Ramit, I am really interested in building a professional practice over the internet, of extending your professional expertise without being limited to your local market. I look forward to seeing it live, I hope it is Wednesday and that way I will be able to.

  3. Ramit,

    Not going to be around Wednesday night. Anyway we can plan to have this webcast recorded?

    • Ramit Sethi

      Sorry man, just attend the next one. No recordings for most of these. I’m trying to keep it lightweight and not add additional work on my end.

  4. Whenever I check out, I get a message that sign up is coming soon – maybe I’m doing something stupid?

    • Ramit Sethi

      I’m swamped with traffic, Amanda. Please try again in about 15 minutes.

  5. Jeff Slobotski


    Thanks for Week 1—very helpful information to get us thinking, and looking forward to Week 2.

    I feel that I have knowledge based information / assets, but not sure how to package & price…will you cover more in Week 2 and beyond?

    Keep up the great work!

  6. RoadToFinancialFreedom

    can you do a few more money diaries

  7. >Questions you want me to answer? Ask them below in the comments or during the webcast

    I’ll be on the webcast, but I’d rather save everyone time by typing this out now:

    Regarding barriers, how would you advise someone who doesn’t trust themselves with long-term professional responsibility?

    That’s a summary that may require clarification. An explanation:
    My skillset has been geared towards serving big business (Fortune 1000) for the past 5 years and it pays well. While I’d love to freelance, in months of reaching out to contacts, I’m consistently met with reluctance. It’s for a problem I can’t solve without starting a larger business. One person is not scalable and has no backup, and big business prefers to contract with consulting firms or body shops over an individual. Experiments suggest that smaller businesses who would benefit from my skills can’t afford my time, even at rates of $30 an hour.

    I would change directions or start a larger business, except for one main barrier: I’m afraid of losing interest when people depend on me. I’m not convinced I can stick to running a business for longer than a year. It seems stressful and would require giving up my job. I’m good at what I do and I enjoy it, but freelancing or running a business means doing less of it in order to focus on tedious/stressful business overhead. Essentially, I don’t feel that I can trust myself with that kind of responsibility; employment at least provides a ‘boss.’

    I could start on a different direction, but the same fear holds: I fear looking like a failure to my friends and family if I give up on such a project. I’d hate the tedious bits.

    Excuse my rambling; such personal issues are hard to discuss rationally. Thanks for your time,

  8. Ramit,

    If you had to make a decision on how a person should invest their spare time on a part time business (beyond their normal job) – assuming no specialized skills – would it be: 1) adsense and affiliate program sales by developing web traffic, 2) develop expertise for eventual consulting, 3) assembling an online store, or 4) none of the above?

    • Ramit Sethi

      Everyone has specialized skills. If you don’t, I strongly encourage you to get some. Otherwise, you can work on eLance for $3/hour.

      Once you do, the options become a lot clearer.

  9. Fair enough. I suppose I do have specialized skills, I just don’t know if they are marketable. Does your answer suggest that you lean toward the consulting idea?

    • Ramit Sethi

      Yeah. I’ll show you how to test if your skills are marketable in upcoming material I’ll post here, and at

  10. Sounds great; thanks so much Ramit 🙂

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