From Wendy's to $2.5 Million Monthly: The Steps to Building Wealth

From Wendy's to $2.5 Million Monthly: The Steps to Building Wealth

      Side Hustle Nation is committed to enhancing your personal profitability. To achieve this, we frequently collaborate with companies that align with that goal. If you register or make a purchase through one of our partner links, we may receive a commission—without any additional cost to you. Learn more.

      Nathan Barry transitioned from working at Wendy’s to operating a software company that generates $2.5 million in monthly revenue. However, there were various steps he took along the way—these are the focus of today's episode. In 2019, Nathan authored The Ladders of Wealth Creation to illustrate that to enhance your earning capacity, you usually need to upgrade your skills.

      In this episode, we discuss:

      The 4 Ladders of Wealth Creation

      How you can potentially add new income streams to an existing side hustle or business

      A marketing strategy that Nathan is currently finding effective

      Mint Mobile — Reduce your wireless bill to just $15 per month!

      Indeed – Start hiring NOW with a $75 sponsored job credit for your job post!

      Quo (previously OpenPhone) — Enjoy 20% off your first 6 months!

      Shopify — Register for a trial at just $1 per month!

      Ladder 1: Time for Money

      The first ladder involves trading time for money at a job, which can be either hourly or salary-based. My job experiences included:

      Shelving books at a library

      Working as a cashier at a Mongolian grill

      Managing pay-per-click ad campaigns as a marketing intern

      Overseeing a sales territory for Ford dealers

      Ladder #2: Your Own Service Business

      According to Nathan’s framework, the second ladder is stepping out on your own with your service business, either as a freelancer or an agency. For instance, that involved:

      Painting houses

      Editing books

      Freelance writing

      For Nathan, it was about designing and developing iOS apps. To move up from Ladder #1, you'll need to acquire various new skills, such as:

      Time management

      Customer service

      Project estimation

      Invoicing

      Establishing a business entity

      Possibly bringing on team members and overseeing their work

      Ladder #3: Productized Services

      The next ladder involves selling services but treating them like products. Examples can include:

      $500 for an SEO Audit

      A 10-page website for $1,000

      $450 monthly to keep a parking lot clean

      Unlimited graphic design for $500 per month

      In my case, I would consider my video website audits as an example—a defined deliverable for a set price. Similarly, my virtual assistant recruiting was a related example. Nathan suggested that to climb this ladder, you need to master copywriting and online payment systems to allow customers to purchase from you without any initial interaction.

      Ladder #4: Products

      The final and highest earning potential ladder is selling products, which can consist of:

      Digital products like courses, ebooks, and printables

      Apps

      Airbnb rentals

      Software

      Marketplaces and networks

      For Nathan, this ladder represents Kit, his widely used email marketing software for creators. For me, it encompasses Side Hustle Nation. We explored how a content business fits into this category and considered the challenges of gaining online attention and the best avenues for directing that attention (advertising, affiliates, sponsors, products, etc.). Ascending this ladder also means learning new skills, such as:

      SEO

      Paid advertising

      Sales funnels

      Team building

      Systems and scaling

      Data analytics

      The overarching idea is that while you can skip steps on the ladder, you cannot bypass acquiring the necessary skills.

      Links and Resources

      Nathan Barry’s Ladders of Wealth Creation

      ConvertKit | My affiliate link for ConvertKit

      The $1 Billion Creator

      What We Get Wrong About the Mexican Fisherman Parable (Choose a goal that necessitates transformation)

      Art of Newsletters podcast

      FromBoise.com

      Perry Marshall on The Side Hustle Show (The Tactical Triangle)

      Looking for More Side Hustle Help?

      Start Your Free $500 Challenge. My complimentary 5-day email course teaches you how to add $500 to your income.

      Join the free Side Hustle Nation Community. The free Facebook group is the ideal place to engage with other side hustlers and get answers to your inquiries.

      Download The Side Hustle Show. My free podcast offers insights on how to generate extra income with actionable weekly episodes.

      The award-winning Side Hustle Show ranks as the #1 side hustle podcast with over 1,300 five-star ratings!

      Tune in using your preferred podcast app or directly in your browser.

      Like That? There's More!

      Join the 120,000 individuals who receive my best content via email. I'll also send you my free guide: The 5 Fastest Ways to Make More Money.

      About the Author

      Nick Loper is a side hustle expert passionate about helping individuals earn more money and launch meaningful businesses. He hosts the award-winning Side Hustle Show, where he has

From Wendy's to $2.5 Million Monthly: The Steps to Building Wealth From Wendy's to $2.5 Million Monthly: The Steps to Building Wealth From Wendy's to $2.5 Million Monthly: The Steps to Building Wealth From Wendy's to $2.5 Million Monthly: The Steps to Building Wealth From Wendy's to $2.5 Million Monthly: The Steps to Building Wealth From Wendy's to $2.5 Million Monthly: The Steps to Building Wealth From Wendy's to $2.5 Million Monthly: The Steps to Building Wealth

Other articles

How I Transformed Public Domain Radio into a Six-Figure Business - Side Hustle Nation How I Transformed Public Domain Radio into a Six-Figure Business - Side Hustle Nation Learn how Cheyenne transformed a public domain business concept into a six-figure membership by utilizing vintage radio shows, cleaning schedules, and effective marketing strategies. How I Transformed Public Domain Radio into a Six-Figure Venture - Side Hustle Nation How I Transformed Public Domain Radio into a Six-Figure Venture - Side Hustle Nation Learn how Cheyenne transformed a public domain business concept into a six-figure membership by utilizing vintage radio programs, cleaning schedules, and effective marketing strategies. How I Transformed Public Domain Radio into a Six-Figure Business - Side Hustle Nation How I Transformed Public Domain Radio into a Six-Figure Business - Side Hustle Nation Learn how Cheyenne transformed a public domain business concept into a six-figure membership by utilizing vintage radio shows, cleaning schedules, and effective marketing strategies. How I Transformed Public Domain Radio into a Six-Figure Business - Side Hustle Nation How I Transformed Public Domain Radio into a Six-Figure Business - Side Hustle Nation Learn how Cheyenne transformed a public domain business concept into a six-figure membership by utilizing vintage radio shows, cleaning methods, and effective marketing strategies. How I Transformed Public Domain Radio into a Six-Figure Business - Side Hustle Nation How I Transformed Public Domain Radio into a Six-Figure Business - Side Hustle Nation Find out how Cheyenne transformed a public domain business concept into a six-figure membership by utilizing vintage radio shows, cleaning schedules, and effective marketing strategies.

From Wendy's to $2.5 Million Monthly: The Steps to Building Wealth

Nathan Barry transitioned from his job at Wendy's to operating a software company that generates $2.5 million in revenue each month.