|Not impossible...if you have 80 - 100 assignments paying |
$100+ each month AND you have a good fairy,
sugar mama, or sugar daddy paying taxes and your business's bills.
I watched a YouTube video yesterday by a fellow named by Bill the Notary Coach who says that notaries can make $100,000 per year.
There are good tips in Bill's Videos!
I didn't just watch one, I let several stream in the background while I did other things.
Here's a Heartfelt Tip from Me...
Friends, please don't spend too much money getting the goods on how to make six figures as a notary signing agent. It's not going to happen. Please refer to this post before you spend more money on your business.
Bill is a great guy, I'm sure. He suggests that you
- Talk to your clients.
- Find out what they need.
- Express gratitude regularly.
But, there are points in Bill's video that need some explanation.
1. He discusses making $100,000 year and he explains that at $100 per signing, you need to do 1,000 signings to make $100,000. That breaks down into 20 signings per week per year.
In Texas, 20 signings per week is rare.
2. Even if you get 20 signings per week, Bill isn't telling you that 25% of your income goes to your sweet Uncle Sam and that another 10% to 30% are costs of doing business.
- Bill is talking about GROSS income.
- NET INCOME (what you can keep) is more like $100 per signing less 30% for expenses equals $70. Now, you take away 25% of that and you are going to make $52.50 on a $100 signing.
- NET INCOME on 20 signings per week is $1,050 (about $52,500 per year).
- Reality is that you can probably make about $25,000 - $35,000 that first year, IF and ONLY IF you are a great marketer.
- Bill also talks about becoming a signing service or brokering out notary services. This point sparked my next article on WHY NOTARIES ARE SELFISH with their information.
3. In my opinion, the reason that a new guy or gal arrives daily to SELL these kinds of courses to NEW NOTARIES is because (1) it's a cheap product to create and sell to you, (2) there is a ready market of thousands of new notaries waiting for products on "how to get rich", and (3) most new notaries are quite gullible and buying into the idea that there is a huge, amazing loan market waiting to be tapped...infinite assignments in the pool. There isn't. If they were making that kind of money easily, they wouldn't be telling you how to get rich. They would be doing it.
Finally, if anyone is telling you all you need is faith in God and hard work,
be careful...watch your money around that person. MY PERSONAL BELIEF: God blesses us for having faith, but I believe He also wants us to use our brains, facts, and resources available to us and INVESTIGATE before we invest in a pipe dream.
Going to the NNA Conference in Dallas?
Give me a shout, if you are.
ARE YOU A TEXAS NOTARY?
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OUR GOAL IS COOPERATIVE MARKETING.
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