- Personal Finance
How To Make Millions - 3 Cool Ways
Why make millions?
Why do you want to be rich or financially free? Everyone has their own motivation, that's why we want to know how to make millions. But there is some magic in the one million number, that's why many ordinary people make it their target. So I'll concentrate here in tactics how to make one million bucks - after you have it, earning more becomes much easier!
Make Millions By Your Own Business
A lot of people make their millions by running a business. Of course, this requires hard work, patience, some luck and some funds to backup yourself.
It's beyound this simple hub to explain everything about business. But I'll give you just the few most important tips to follow if you want your business to make millions:
- Solve problems. Your business must solve real problems or no one will need it.
- Offer what people search. Instead of trying to invent a great unseen thing, concentrate on what people search for.
- Pick the hard tasks. No one wants to take the hard problems. If you do it, you will beat the competition easy. Of course, taking the hard tasks is not nice, but you are here to make millions, right?
- Outsource as much as you can. You won't makemillions if you do all the work yourself. You need scaling. So - outsource the time consuming and less rewarding tasks!
That's it - keep just these 4 tules, and you may make it.
How To Make Millions By Joining A Startup
That's not at all popular, but one of the greatest ways to make millions and become really rich. It requires some talent, hard work, some luck and nose to find the right startup. But unlike doing your own business, you can join a startup without having lots of money. In fact you can joit it as an employee, get very well paid and at the end own part of the company.
What does it take to join a startup?
- You must be an expert in your field. Good startups don't take mediocre people. They need only the exceptional.
- You must be ready to work hard. If you join an ambitious startup, you'll need to work really hard for maybe several years
- You need long term view. The things i startups rare happen quickly. Be patient for several years before you see the real fruits of your work.
Joining a startup is not a ticket to riches, but it has made millions for more ordinary people than many other methods. You can be one of them too.
I suggest you read Paul Graham's essay How to start a startup and get more ideas about startups.
How To Make Millions By Investing
Making millions by reasonable investing is probably the most achievable way to riches. You don't need to be brilliant, you don't need to work hard, you don't need much of luck. All that investing takes is to be consistent, patient and frugal. You must be consistent because investing just once and hoping it will make you millions usually does not work. You must be patient because making millions by investing takes many years unless you start with high capital. Finally, you must be frugal so you can save the most out of your budget.
If you don't believe you can make millions yourself by modest investing, I'll give you few samples how you can make one million:
- If you start with $10,000 and invest $3,400 per year on 8% ROI, it will take you 40 years to make a million.
- If you start with $25,000 and invest $10,000 per year at the same rat, it will take you less than 20 years to make a million
- If you start with no money at all, invest $10,000 per year but are more aggressive and achieve 16% ROI making a million will take you only 20 years
I suggest you to use this investment calculator yourself and play with more numbers. You can see yourself that making millions by investing is very achievable - and maybe you'll just start investing yourself!