Top 10 Mistakes to Avoid, to Reach $10K WiFi Money in 1 Year

Intro

Writing a quick post at the request of Slack User: “caMm”… One of the top aspiring bums who had a successful Q1 and made over $4K in his first three months of this game.

His post request got me thinking…What makes some members of the community successful and not others? If everyone has the same access to the same resources and the same information…What is holding some people back from reaching $10K WiFi money in year 1?

See some of the success stories below:

10 Mistakes to Avoid

As you can see, many people are well on their way to $10K, yet others are still struggling. Here are 10 reasons why you might be struggling to reach $10K in your first year.

1. Your not a paid subscriber

While there are some occasional free posts that cover the basics, the real sauce is in the paid posts.

Most people who are paid subs and take action, cover their monthly membership in ONE DAY.

It’s a no brainer.

2. You’re a paid sub who is not in the Slack Group

The BowTiedBum Slack community is reading this and shaking their head in disbelief.

Yes, the majority of paid subs are not in the Slack Group. Even though access is free with a paid Substack membership. Makes zero sense.

Paid subs will DM me on Twitter with questions, and I need to keep reminding them to join the Slack.

The Slack Group was literally designed to answer questions, give feedback and suggesstion, and help guide each aspiring bum on their path to $10K.

There’s no question that’s too dumb. Feel free to post “what is credit card churning?” And I (or someone else) will answer.

I generally read EVERY question/comment within 24 hours, and if I don’t answer it by then, usually someone else does.

It’s designed to help you succeed. Take advantage of it.

DM me on Twitter if you’re a paid sub that is still not in the Slack Group (for some bizarre reason).

3. You rely on one Manufactured Spending (MS) method

I’ve been guilty of this in the past as well. You get comfortable with a single MS method, and think that it’ll be smooth sailing forever. This game moves quickly, things change, and the more you can diversify your MS methods and get comfortable with multiple methods, the better off you’ll be.

Deals dry up, rules/policies change, and you don’t want to get stuck with needing to spend thousands of dollars, and not knowing how you’re going to do it.

A big part of being successful in this game is:

Can you spend thousands of dollars in a few days/weeks and get the money back in your bank account?

If so, you’ll crush it.

If you can start your own biz? You’ll be even better. Amazon FBA at a minimum (see Amazon Arbitrage Guide)

4. You’re spending more than you should, just to hit the mimum spend requirement

Classic newbie mistake, which I’ve been guilty of as well. You spend wrecklessly, just to hit the minimum spend. Remember, your organic spend should stay the same. Put all organic spend on the card and MS the remainder.

This game is supposed to help you spend less and be more aware of your spending, not frivolous.

5. Your scared of “business” cards

I didn’t get ANY business cards for my first year of churning, and it was a huge mistake. Major regret. I could have had multiple old Chase Ink Cash’s with a $50K office supply limit.

I was a casual player in this game until I started getting business cards. They absolutely moved the needle.

What if I don’t have a business?

Have you sold anything on craigslist, Facebook marketplace, or did you do anything in exchange for money?  Congrats!  You have a sole proprietorship, and are eligible for business cards.  You can simply use your SSN for the EIN and your First/Last name for the name of the business.

6. You don’t ask questions in the Slack Group

There’s a direct correlation with activity in the Slack Group and success. Look in the beginning of the post at the success stories. Now look at their comment history in the Slack Group.

Notice a pattern?

They all ask questions and take action.

You’re literally paying for a membership that allows you to ask questions and get a quick response. Take advantage of it!

7. You apply for terrible cards

Yes, the above picture is a real offer. Insane. As any aspiring bums knows, your 5/24 slots are absolutely precious, so it’s criticial that the first few card you apply for are carefully considered.

Best to follow the Q1/Q2 plan. If you want to stray, post a comment in the Slack Group for feedback before applying for a terrible card.

8. You’re not organized

Organization is key to success in this game. Every paid sub should have a spreadsheet (or multiple spreadsheets) that include:

-all your credit cards with date opened, annual fee, etc (see below)

-Fluz cards

-All other MS methods

Staying organized will be key to avoiding mistakes, and will save you time. Remember, after you get over the learning curve (month or two), this game should not be time consuming at all. A couple hours a week maximum.

DM me on Slack for any questions on spreadsheets, how to keep track, and any tips.

9. Your not following the Q1/Q2 Plan

The people who’ve had success followed the plan (either exactly or a bit loosely). Why? Because the plan works. No need to reinvent the wheel here. If it ain’t broke, don’t fix it. If you want to stray from the plan, reach out in the Slack Group if you are unsure.

10. Inaction/You give up

A common sentiment among aspiring bums is “I wish I started earlier.” I see a similiar pattern with almost everyone that gives up. They didn’t join the Slack. If they did, they definitely didn’t ask questions. Or they don’t buy a paid membership so don’t get to read the good stuff.

This community is what you make of it. And if you put in a slight amount of effort, it will pay off big time. If you’re on the fence, thinking about quitting, or don’t know how to make the best of your membership…Feel free to DM me.

I want to see everyone succeed. I created it with the intention of making it as easy as possible for people to do so.

And I’m looking forward to the community’s continued success.

Good luck anons!

Disclaimer: None of this is to be deemed legal or financial advice of any kind.