Not an easy task, but it’s certainly possible.
And if you only do 1/10th as good, that’s still $100,000.
First, before anything else is even considered, you need to find a very important reason WHY you want to make a million dollars in 12 months.
The stronger your reason, and the more often you play out that reason in your head, the better your odds of achieving your goal, regardless of which method you choose.
Method 1: The Chris Sacca Method
Chris initially became a millionaire by leveraging $10-20 thousand dollars into 12 million dollars by taking advantage of a flaw used by online trading brokers.
When the market crashed, Sacca found himself $4 million in debt. He negotiated to have it reduced, and then paid off the balance in no time.
So how did he earn his next millions? That’s the method we’ll cover here.
Of course, if you do happen to find a flaw in online trading software that you can take advantage of, terrific. Otherwise, you might try copying Chris’ second method:
Sacca created a fake company, complete with a great looking website and business cards.
Frankly, your company doesn’t have to be fake, it can simply be new. Make sure you choose an impressive sounding name like the Sadlias Group.
Now get tickets to every networking event in your field. Go to these events and network like crazy, making contacts with entrepreneurs.
Look for people who want to change the world, and find ways to help them make that change.
Introduce yourself and – get this – offer to help them out for free.
That’s right, for free. Do you want to stand apart from everyone else at that event? Do you want them to remember you, contact you and work with you? Offer to help them for free.
Using this method, Sacca became one of Twitter’s first four investors.
Even if this method doesn’t make a million in a year, it will make your life interesting, exciting and highly relevant. You’ll find outstanding mentors to help you along.
And you’ll make contact with investors who can back you when you decide to start your company for real.
Take notes along the way, so when you do make your first millions, you can write your tell-all book letting people know the inside story of how you did it.
Method 2: Day Trading
This is a great way to make money fast. And it’s an even better method to lose money even faster.
You’ve got to be good. You’ve got to know what you’re doing. And you’ve got to leave all emotion and ‘gut instinct’ behind as you follow proven, trusted methods that work.
Frankly, it can take you 2-3 years of daily practice just to get good at this.
Then again, you might have the capability to make a million in the first year. It is completely possible, just not highly likely.
If you choose this method, invest in the best education and hundreds of hours of practice trading.
Your best shot: Start with $10,000, margin it to $30,000, and find 180 trades that will return 2% or more in 1 to 2 days.
Easy? No. Doable? Possibly.
Method 3: Sales Funnel
Build the best sales funnel you can – everything from a free product to get subscribers onto your list, to a $10,000 product you sell to your best customers and everything in between.
Think about this: To earn a million dollars, you can sell any of the following:
1,000,000 products for $1 apiece
100,000 products for $10 apiece
10,000 product3 for $100 apiece
1,000 products for $1,000 apiece
100 products for $10,000 apiece
10 products for $100,000 apiece
1 product for $1,000,000
Look at Dollar Shave Club and you’ll see they’ve chosen the first option on this list – selling a $1 product to millions of guys.
But if you have an effective sales funnel, you can take those $1 customers and upsell them to your $10 offer, your $100 offer and so forth.
Once you start selling $1,000 products, it no longer takes massive sales to reach that magical million dollar mark.
Things to remember – focus more on what people WANT than what they need.
Sell them the way they want to be sold.
Make the entire experience fun and easy for the customer.
Whenever possible, find ways to make your messages go viral, even if there is no immediate pay off.
Your primary goal is to get as many qualified people onto your list as possible.
Your next goal is to move them up the sales funnel by always giving them great value for the money.
Do these two things and your final goal of making a million will take care of itself.
Method 4: Sales
If you’re already good at sales, or you can acquire sales skills fast enough, AND you have the right product to sell, then you can make a million dollars in a year.
Obviously you want to sell very high ticket items with high commissions to scale your income faster. And of course already having a sales background will be a tremendous help, if not a necessity.
If you want to take this route and you’re willing to invest 2-3 years, it becomes much more likely you will succeed.
Spend the first year becoming great at sales. Study sales techniques, get a great mentor, work in sales 10-12 hours a day.
And during your first year, find out what kinds of products pay the most in commissions. Make contacts in those industries and get yourself a job where you can make the most money.
Then spend your second and third years making that money.
It will take plenty of hard work, but it will be worth it.
Method 5 – ??
These first four methods should get you thinking.
And maybe, just maybe you’ve got an even better idea.
Like creating the next social network, winning the lottery, doing a one million dollar deal… there are plenty of ways to make lots of money.
The trick is to pick the one that works for you, and then work it tenaciously until you succeed.