Top 10 Ways To Make One Million Dollars

Making 1 million dollars sounds like a lot of money if you've never earned high figures before. It might seem like an obsolete objective, but the truth is 1700 new millionaires are created each day, that's over six hundred and twenty thousand new millionaires every year.

So how do they do ithow come so many people become millionaires? and why can't you do the sameWell, it's all about positioning and how valuable you are to the marketplace.

10 ways to make 1 million dollars

1. Go viral on YouTube

Who would have thought that going viral on YouTube could make you a millionaire? This all changed in the last couple of years, it obviously depends on the type of video. If it's advertiser-friendly and who is watching the video, but a ballpark figure would be somewhere between 500 million and a billion views.

For example, Gangnam style alone made PSY over eight million dollars, it's not all YouTube advertising alone but the exposure got him plenty of extra opportunities, and PSY is still cashing in big. Believe it or not, that video is still making him decent money today, you also have large creators leveraging their YouTube fame in order to create additional revenue sources like the Paul brothers do with their merch lines, or how Jeffrey star did with his makeup line.

2. Have a blog that gets over 41 million views per month

Having a popular blog can still make you a multimillionaire. One of the people we've been following closely in this space was Scott DeLong, the creator of viral Nova. For those of you who don't know the website, he's been at the forefront of viral articles distributed through Facebook very similar to what BuzzFeed used to do, and to be honest still does.

Scott started viral Nova in 2014 and sold it one and a half years later for reportedly 100 million dollars. During November and December, he was already generating over 1 million dollars per month from advertising revenues alone.

Getting over 40 million readers per month on your blog is probably the most difficult one to do unless you're able to do what Scott did, and ride a new wave which people hadn't figured out yet.
3. Make an app that a million people use

There's still a ton of money to be made with apps, if you know what you're doing and can actually offer a valuable service. The problem with apps is that unless the user feels the need to return to the app on a frequent basis, you've already lost. The app ecosystem has evolved in the past couple of years, from candy crush making almost 1 million dollars per day at their peak to the meditation app calm which just recently was valued at 250 million dollars, to now Fortnite passing 1 billion dollars in just three months through in-app purchases.

The secret to most apps has been the ability to bring in additional revenue within the app. Depending on how much revenue you can extract from every single user, the road to the first million dollars can be a lot shorter than expected if the customers find value in what you're offering.

4. Get over 100,000 Twitch subscribers

Live-streaming is going mainstream. You have the likes of ninja who are spearheading this movement generating between 500,000 and 1 million dollars every month from streaming alone.

Twitch is a platform which allows users to broadcast themselves in real-time. This type of technology has been quickly adopted by gamers who broadcast themselves playing video games.

How do they make money? There are multiple revenue streams. The main one being paid subscriptions, there are different tiers of subscribers on Twitch for 4.99$, 9.99$ and 24$. This amount being split between the streamer and the platform.

In addition to the paid subscription, viewers can donate money directly to the streamer in order to show support, and then there's the good old, finding a big sponsor who's paying a streamer to endorse their product like the type of deal that ninja has made with Redbull. The ballpark figure to shoot for is 100,000 paid subscribers but you can get to a million dollars with less than 50000 if they're generous enough.

5. Buy-Flip-Repeat

This is a fundamental rule of hustling and one of the most common ways to make some more money. This is what commerce was built on, and it's capitalism in its purest form. Find something you can purchase at one price, then sell it for more to someone who's willing to pay a premium for it.

Our favorite story is the one revolving around 16-year-old Benjamin kicks, who's making over 1 million dollars per year reselling sneakers. Sneaker culture is big and people are willing to pay good money to get their hands on anything that's exclusive.

Benjamine started out when his mom bought him a pair of sneakers, which he sold to a classmate for almost double what he paid for, then he went ahead and started buying more A few months passed by and celebrities are looking to get their hands on a type of sneakers that this kid has. He's selling sneakers to DJ Khaled, French Montana, future, and more. The most expensive pair of sneakers he sold was twenty thousand dollars and now he has an entire operation for reselling sneakers.

6. Be in the top 1% of a lucrative profession

It's super easy to become a millionaire if you know what you're doing and your specialized. Doctors, lawyers, and upper management in the US and Europe earn on average over one hundred and fifty thousand dollars per year.

The highest paying job with the lowest barriers of entry is sales. If you know how to sell, you can make a ton of money no matter where you find yourself. Compared to doctors and lawyers, the 1% of salespeople earn north of two hundred and fifty thousand dollars per year which will have them passed the 1 million dollar mark in just four years. Not to mention that selling is an incredibly valuable skill for all strategies we discussed throughout this article.

7. Write several books that sell ok

The trap many people fall into is they think you need to write the next Harry Potter or Fifty Shades of Grey in order to get rich from books. The likelihood of you knocking it out of the park is incredibly low. Getting to 1 million dollars from writing books is a pretty doable job if you find the right angle and an audience willing to purchase. In order to become a New York Times bestselling author, you only need to sell around 10,000 books, it can even be as low as five thousand books if you've been on the list before. If your writing is good, just keep putting out more and more books until one of them as a hit.

There are plenty of examples of people who did it this way, but our favorite by far is Amanda Hocking. She's been rejected by almost every single publisher in the game, none of her novels were given a shot. She was broke but really wanted to go to a Muppets convention, but she needed the money for gas to drive to the event. In order to make some of the 300 dollars she needed, She self-published her novels on Kindle. One month later she had made over $20,000, so she added all of her novels up there. 20 months into it, she's made over 2.5 million dollars from books which were not good enough to be picked up by a publisher.

If you have a Podcast, blog, a YouTube channel, any form of audience, people will want to support your efforts and are even willing to preorder your work just to share the journey with you.

8. Start a drop shipping company under your own label

For those of you who have no idea what drop shipping is? It's a very fun and interesting business model, where you find a supplier, someone who can create package and deliver a product on your behalf, your job is to bring in the sales.

Let's say you found a supplier who can package and deliver weight loss tea from China for $5 per package. You set up a website where you can sell that exact Product for $20 apiece. When the order comes in, you send over the $5 to the supplier with the details from the order who takes care of everything and delivers the item to the buyer on your behalf, yourself keeping the remaining $15 profit.

I didn't choose a weight loss tee by accident either, I've actually studied and analyzed the success a young entrepreneur named Greta Van Rio had in this space. She's the one who started the entire Instagram model Fitness T phenomenon. Six months into her business she was bringing in over half a million dollars per month.

9. Start a small business and keep growing

Although most of the ideas mentioned on this list are super-specific. The way most people end up millionaires is by creating a small business and just growing it. I know it sounds a tad more general, but this comprises the hustler mindset which is focused on growth.

Starting a new business is always difficult but the path is more or less the same no matter which business you choose. It all starts with solving a problem, figuring out how to get paid, and then bringing in people so you can focus on what is important for the business to grow.

Everyone has a few business ideas in their heads, it's just a matter of implementation although that might sound overwhelming, the process is pretty straightforward and simple.

10. Come up with such an original crazy idea that it might just work

If those ideas previously mentioned are pretty straightforward, this time I'm encouraging you to look way outside the box and let your creativity free, who knows what might come out. There's a guy who made fifteen million dollars selling rocks as pets to people, another who made 1 million dollars by selling pixels on his website for 1 million dollars each. The world is filled with crazy stories and I hope this list sparked an idea inside of you.