I chose six years because I’d be 30 (aggh!) then and that seems like as good a time as any to become a millionaire! So here is how to do it and trust me, if you follow this, as I will be doing for the next six years you will make a million bucks if not more!
Create a personal brand.
I don’t care if you are mail man or a bagger at the grocery story it is time to lose the 9 to 5 go no where job and get in gear to become a millionaire entrepreneur. So while you still are stuck in the rat race be sure to be planning your escape by building up your personal brand, big time. A. Buy Gary Vaynerchuk’s book ‘Crush It’ it is literally life changing and read it. B. Start a blog (try wordpress.org and hire a freelancer if you need to at elance.com to do the technical stuff) C. Start blogging about your passions in life, try to chose just one and focus on it, do videos, podcasts and everything else to get a loyal audience of at least 1000 true fans.
Create a killer eBook.
After you’ve been blogging for a while, commenting on other people’s blogs & getting some serious buzz its time to create a product to sell (because how else are we supposed to make 1 million?). An amazing resource for this is Pat Flynn’s guide to creating an eBook, I used it to create my first on selling on eBay and you can definitely benefit from grabbing it up while its still FREE here. Now lets say you are 6 months into your blogging & such, so we only have 5.5 years left to make a million, with a little luck and based on the law of exponential growth lets say we sell an eBook a day (because down the line you’ll sell lots & now you may only sell a few). We do this for the next 5.5 years = 66 months = 2007.5 days (i hope i got my math right!). Now lets say you price your killer eBook that will either help someone do something better, make them more money or help them save money or fill a desperate need at $27 a pop. $27 x 2007.5 = 54,202.50 in 5.5 years. Not shaby.
Now we do this with 3 blogs on very separate topics.
Each where we either write, or find someone who is passionate about the topic to write, content filled quality posts and build up a community. 3 x 54,202.50 = $162,607.50
Now on one each of our blogs we set up affiliate systems and maybe a few banner ads
….and bring in about $1500 a month after we are up and going, more later and less at first so we’ll say $1000 a month for 5.5 years = $66,000 x 3 blogs = $198,000 plus our ebook sales of: $167,607.50 = $360,607.50
So on our 3 blogs, on separate topics, but packed with content & followed by a solid community we create a membership class. We don’t do this until we are 1.5 years into our mission so we only have 4.5 left of our alloted time to become a millionaire. One blog, based around business we charge $47 a month for and the average customer stays with us for 3 months = $141 each customer. In 4.5 years we have 2000 people sign up give or take = $141 (lifetime value) x 2000 = $282,000 for the whole period. On our second two blogs our membership courses are only $15 a month (people are less likely to cancel under 15 bucks per month) and the average life is 6 months = a $90 lifetime value of the customer. In both blogs we have 3000 people join over the period of 4.5 years and spend the average amount of time (give or take) enrolled = $90 x 3000 = $270,000
Now we add.
$360,607.50 + $282,000 + $270,000 = $912,807.50 uh oh we are still short? Oh wait I forgot to tell you since you are obviously at this point a blogger with some authority and you know how to make money you start offering 10 slots per year to do one on one coaching for the last two years, they always sell out at $2000 each for a week course = 2000 x 20 slots = 40,000. On top of that you do speaking engagements for an average of $2000 a pop plus expenses about 5 times a year for 4 years = $40,000 so we have now a sum of: $992,807.50 in 6 years. What about the other $7192.50 left before you’ve reached millionaire status? Interest baby. If you even make the wimpiest attempt at investing during this time you’ll go above and beyond the 7k you need to reach one million bucks.
Like my six steps to becoming a millionaire in 6 years? Think my math is off, sound off in the comments section!