15 Ways To Make 1 Million Dollars

1,700 new millionaires are created every day that's over 620,000 new millionaires every year how come so many people become Millionaires and why can't you do the same well it's actually about positioning and how valuable you are in the marketplace if the marketplace thinks you to serve 1 million or more it will in turn give you that amount we researched people that we know about who've made more than $1 million in the last couple of years who knows maybe some of them will spark an idea which will be the beginning of a lifelong journey for you

with that said here are 15 ways to make $1 million in no particular order welcome to alux the place where future billionaires come to get inspired number one be in the top 1% of a lucrative profession shocking right be really good at a job that pays really well it's super easy to become a millionaire if you know what you're doing and you're specialized doctors lawyers and upper management in the US and Europe earn on average over $150,000 a year if you're really good at what you do and are hyp specialized you can double or even

triple that amount the highest paying job with a 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 $250,000 a year which will have them pass that $1 million Mark in Just 4 years not to mention that selling is an incredibly valuable skill for all strategies that we discuss in this video number two write several books that sell okay the Trap many people fall into is they think they have

to write the next Harry Potter or 50 Shades of Gray in order to get rich from books the likelihood of you knocking it out of the park is incredibly low okay with that said though getting to $1 million from writing books is a pretty doable job if you find the right angle and an audience willing to purchase few people know this but in order to become a New York Times best-selling author you only need to sell around 10,000 books it can be even as low as 5,000 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 is a hit there are plenty of examples of people who did it this way but our favorite is by far Amanda Hawking you probably have no idea who she is she's been rejected by almost every single publisher in the game none of her novels were ever given a shot she was broke she really wanted to go to a Muppets convention but she needed the money for gas to drive to the event so in order to make some of the $300

she needed she self-published her novels on Kindle one month later she'd made over $20,000 so she added all of her novels up there 20 months into it she's made over $2.5 million from books which were not good enough to get picked up by a publisher Pro tip if you have a podcast a blog or a YouTube channel or any kind of audience people will want to support your efforts and are even willing to pre-order your book just to share that Journey with you number three license a patent or a trademark to a big company another

creative way to add value to the world is by being an inventor designer or engineer if you can figure out a way to solve a problem better than what's out there already you could be sitting on a gold mine a great example of this is Lonnie Johnson again you probably have no idea who he is but you've probably heard of the Super Soaker right well while toying around pun intended he created this cool toy but didn't have the skills to create an entire company produce and market and sell individual products so he licensed the technology

to a company called Hasbro he got paid 3% royalty out of the price of every unit sold making over $100 million from this deal alone he now has $250 patents and a net worth of over $350 million Pro tip we know patents are expensive okay but there are certain ways to protect yourself even without having an internationally issued patent what you need to do is document how your invention Works in extreme detail and have that in writing or burned onto a CD or USB drive and mail it in a sealed envelope to yourself when that

envelope arrives back to you it should contain the date and stamp of a government institution never break that seal if it comes down to it this is your undeniable proof that you are the first one to figure this out and rights should be awarded to you in a patent case or at the very least end up in a highly lucrative settlement Situation Number Four 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 who can create package and deliver a product on your behalf your job is to bring in the sales so here's how it goes let's say you found a supplier who can package and deliver weight loss tea from China for $5 a package you now set up a website where you can sell that exact product for $20 a piece when that order comes in you send over $5 to the supplier with the details from the order keeping that remaining $15 in profit now we didn't choose weight loss tea by accident either we've actually studied and

analyzed the success a young entrepreneur named Greta Von real had in this space she's the one who started the entire Instagram model Fitness tea phenomenon 6 months into her business she was bringing in over $1 million per month if that number shocks you you might want to read up on her since she's one of our personal Heroes during new product launches she made over $1 million in a single day just to let you know that these kind of numbers are possible and worth mentioning is that Drop Shipping as a business model is extremely competitive with

very low margins on the flip side though it's probably one of the most documented and easy to pull off models out there just because it's hard doesn't mean it isn't possible number five 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 we 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's got 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 that's why we've created a video called 15 things to know when starting a business which you can check out by clicking in the top right corner if you're planning on

starting your first business there probably isn't a more important video to watch than that one number six aggressively save money and put it in index funds for several years you need to understand the power of this compound interest and and use it to get rich you know someone might have said it's the most important mathematical Discovery in the world and by someone we mean Albert Einstein who numerous times said that compound interest is the eighth wonder of the world he who understands it earns it he who doesn't pays it if you understand money and investment

funds you know that a 7% annual return is easily doable now it's a matter of just how much money you can save traditional strategies go like this if you're able to save 10% of your yearly income and let's say you earn $50,000 a year it'll take you 40 years to get 1 million saved but Who Wants To Be A Millionaire when they're old that's not the alux way but it gets a lot more interesting if you're able to play around with those numbers you should try to increase all of the three most important variables one

the amount of money you earn two the amount of money you're able to put aside and three the return on your investment now while the first two depend on your own choices the third one on the other hand is pretty straightforward for example the first thing we should do is take the money out of a 7% mutual fund and put it into an index fund like the S&P 500 for those of you new to this the S&P 500 is a fund made up of the top 500 companies in the US if a company isn't performing

well it gets taken out and replaced by a new worthy company for the past 90 years the S&P 500 has generated an average of 10% yearly returns although we're not sponsored by them we would recommend you look into Vanguard and Robin Hood number seven become an influencer most people mistake content creators with influencers when in reality they're too different categories content creators focus on the content itself honing their craft influencers focus on their personal brand and visibility it's much easier to make money as an influencer than it is from being a content creator just to

give you an idea people like Cristiano Ronaldo the rock or Selena Gomez can charge around $2 million for a single sponsored Instagram post according to marketing analysts but let's say you are not already rich and wellestablished well an account with 500,000 to 1 million followers an engagement of anywhere between 3 to 5% and a good track record of working with brands well you could charge around $1,000 for a sponsored post and if you're also in a good Niche like Beauty Fitness luxury or Tech well those numbers can go up even higher number eight purchase a

franchise and make it really successful if you're not the creative type a franchise is a simple and lucrative way to get yourself into business because somebody else is already optimized it for you you just need to make sure that things keep on moving the way they should a franchise for those of you who don't know is a company that creates a lucrative business with an already established brand that's made out of simplified systems which can be duplicated over and over again think McDonald's or Starbucks so how does this work well you reach out to the

company with the aim of buying a franchise and there are two types of costs you have to know about a standard franchise fee and a percentage of the business that you're generating so in exchange for this money the company provides all of the tools you need to get the business up and running you can find profitable franchises starting as low as $10,000 but depending on what you're looking for there are obviously more expensive options for example a Dunkin Donuts franchise fee is between $40 to $90,000 depending on location but that's not all the company requires

you to have at least $250,000 in liquid assets just to make sure you can keep the thing running it's up to you to find the right franchise for your geography and budget number nine create a subscription service where 1,000 people pay $83 a month okay so it's time we introduced you to what's called millionaire math which means in how many ways can you get to $1 million in one year so off the top of our heads considering subscription Services you've got 5,000 people paying you $17 a month for 12 months 2,000 people paying you $42

a month for 12 months $11,000 paying you $83 a month for 12 months 500 people paying you $167 a month for 12 months or 300 people paying you $27 $8 per month for 12 months you get the idea right all of these will get you to that seven figure Promised Land that's why everyone is doing subscription Services these days and you've seen the popularity of the likes of Netflix tile Spotify and apple music increase it's all about finding a service that people are willing to pay and stick around for number 10 work for someone who

is a multi-millionaire or even better work for someone who is a billionaire the quick way to making your first million dollar is to work directly for someone who's made $1 billion rich people value time above everything else and they really value people who are able to save them time the best way to do that is to find someone who's incredibly wealthy and help them either save time or make money either way you'll find that their generosity is directly proportional to the value you bring into their life now before you take a shot at this it's

important to know that you should already have a trust based relationship with that wealthy individual because look okay the last thing you want to do and we cannot stress this enough is to spam the hell out of them and tell them how you have this idea that'll change the world believe it or not we get at least one 100 emails like that every month and we never ever reply to them when most people think of multi-millionaires they usually Envision entrepreneurs starting companies but the truth is roughly one in five millionaires work for someone some else

and that is how they got rich if you think about it you're more likely to become a millionaire working for a wealthy individual than by becoming a millionaire starting your own business if this is your plan we recommend you find yourself a mentor these people are open to helping you grow they provide guidance and opportunities which you wouldn't have access to otherwise but you know we also understand that not everyone has access to Quality mentors especially in some more challenging geographies around the world so to level the playing field for everyone we created the alux

app to act as your very own high performance Mentor right in your pocket we hire industry experts we pay their fees for you and put them in a studio so they can teach you all of the distilled lessons that got them to where they are in their lives and careers each one with their own dedicated collection of lessons for you not to mention daily coaching sessions spending across enriching your five pillars of a good life Finance relationships intellect emotional well-being and physical health you have never had a mentor this comprehensive in your entire life and

it only exists in the AO app and as a gift from us to you download the app come back here and scan this QR code on the screen and you'll get 25% off the yearly membership that's alux.com slapp number 11 go viral on YouTube now who would have thought that going viral on YouTube could make you a millionaire this all changed in the last couple of years now obviously this depends on the type of video if it's Advertiser friendly and who's watching the video but a ballpark figure would be somewhere between 500 million and 1

billion views for example Gangnam Style alone made sigh over $8 million it's not all YouTube advertising alone but the exposure got him plenty of extra opportunities hence why he is still cashing in big believe it or not that video is still making him decent money today YouTube is the new TV which is why we are here ourselves and speaking of advertising number 12 have a Blog that gets over 41 million views a month because having a popular blog can still make you a multi-millionaire when we started out alux.com it was focused on publishing articles on

luxury topics and we still get a lot of visitors on those articles out of everything we mentioned on this list getting over 40 million readers per month on your blog is probably one of the most difficult ones to do especially now since most things you read online are generated by Ai and everything gets diluted but we figure we should mention this because getting money from ads on your content will always be a viable option number 13 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 that app on a frequent basis you've already lost the app ecosystem has evolved in the last couple of years 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 that's

the reason we invested so much time effort and money into making the alux app as valuable as it can be and if you really want to score big with apps there's a book that we recommend called how to build a$1 billion app by the guy who created Candy Crush in which they break down how to conceptualize and scale this kind of project number 14 get over 100,000 twitch subscribers live streaming is well past being mainstream now it is extremely saturated in China specifically streaming is a pretty wild phenomenon to see but the point still holds

the newest type of celebrity that we managed to create us as a soci Society is the twitch streamer you need to be in the top 1% to make it a living and the top 1% of that 1% to get rich but the barrier of Entry is pretty much non-existent people don't even need to know what you look like or what your name is you just have to be entertaining to them and number 15 buy flip repeat now 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 its capitalist ISM 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 this buy flip repeat strategy has taken many forms throughout the years and we're always excited to see it evolve depending on how the culture is changing people do this in different markets buying fixing flipping cars houses antiques you name it it's all about understanding how much some people are willing to pay for something and getting that something for Less

now alexir we're curious to know what you're doing right now to get to your first million let us know in the comments and we'll try to provide you with some feedback now we know this has been a really long video already so for those of you who are still with us here's your secret bonus come up with such an original crazy idea that it might just work if those ideas previously mentioned are pretty straightforward this time we're encouraging you guys to look outside the box and let your creativity run wild who how is what might

come out of it you know there's this guy who made $15 million selling rocks as pets to people another who made $1 million by selling pixels on his website for $1 million each one woman became a multi-millionaire by selling sunglasses for dogs the world is full of crazy stories and we hope this list sparked an idea inside of you if you watched up to this point and you're already on your journey to becoming a millionaire please write the words first million is in the comments below and we'll wish you luck ourselves it's always great to

see how many of you are watching these videos until the very end we'll see you back here next time alexir take care