Have you ever dreamed of becoming a millionaire?
Sure, you read about millionaires, you watch them on YouTube, you see them on TV. But have you ever considered making it your own personal goal?
What if I told you that this time next year, you could have more money in your bank account than you ever dreamed possible.
Would you believe me?
I understand if you’re skeptical. You have every right to be. The truth is, this isn’t a far-fetched idea and it is very possible for you to become a millionaire.
And it doesn’t even require you to have money to begin.
Can you relate to any of this?
- Want to spend more time with your family
- Want to travel more
- Want more money to do the things you love
- Want financial freedom
- Want to buy a house
- Want to buy a new car
If you can relate to even just one, then you have everything to gain and nothing to lose by reading this article.
I’m going to give you a list of 4 businesses that you can start today that will make you a millionaire if you are willing to put in the work.
I’ll also break down how each business would operate and how you would earn revenue. Here are 4 business ideas that will make you a millionaire.
1. Real estate wholesaling
If you aren’t familiar with the term wholesaling, it is the sale of a thing previously bought, sold to another person or company for a profit. Let me give you an example.
Joe bought an apple. The problem is Joe doesn’t want the apple anymore. So Mary comes along and offers to purchase the apple from Joe, but for a discount. Joe is fine with this because he was just going to throw the apple away anyways. Mary buys the apple at a discount, then resells it to Steve at a higher price. Mary has made a profit.
This is an oversimplified illustration, but this is essentially how real estate wholesaling works. And once you get started and can get the ball rolling, it’s very easy to earn between $10-$100k every month depending on where you are in your journey.
The beauty of it all… you don’t need any money to get started.
No joke. You can start without having to spend a single penny.
But like with anything in life, if you don’t spend the money to get the job done, you will have to spend the time and sweat equity to get it done.
So, you’re probably wondering, how do you actually make money wholesaling real estate? And more importantly, how do I get started? Let me answer both of those.
How to make money wholesaling real estate
Money is earned by what is called an assignment fee.
An assignment fee is the money a wholesaler can expect to receivefrom an end buyer when they sell them their rights to buy the property.
You are basically being paid to connect the original seller with the end buyer. You are just the middle man or woman.
Think about our example with Joe selling his apple to Mary. In that example, Joe is the original seller, Mary is the wholesaler, and Steve is the end buyer.
Assignment fee sizes vary depending on your location and the size of the deal.
For example, you may live in a city where the average cost of a house is $130,000.
If you were able to get that house under contract for say $70,000, then sell your rights to purchase that house to someone else (probably an investor or house flipper) for $90,000, then guess how much money you just earned? That’s right, $20,000!
And the best part? You didn’t actually have to buy the house.
This is the power of wholesaling.
When the house is under contract, this literally means what it sounds like. The house is under contract.
You have signed a contract (also called a purchase agreement in real estate), with the homeowner that says you are going to buy their house.
However, instead of buying the house yourself, you simply sell your contractual rights to a 3rd party who will be the one buying the house. The homeowner never even has to know about this exchange.
Yes, this is all completely legal.
No, you do not need a real estate license to do this (in most states).
Yes, you can make a ton of money doing this.
No, it will not be easy at the beginning.
Yes, it will be worth it because if you are consistent, you will absolutely make millions.
How to get started
There’s a massive amount of free information on YouTube, Google, podcasts, and blogs. What would I recommend? Here you go.
YouTube channel’s to learn from:
Blog to learn from:
Podcast to learn from:
These are my recommendations. Get out there and start learning all of this information.
After you learn it, immediately start taking action before you talk yourself out of starting.
2. Starting a blog
Many people think that blogging is dead. This is far from the truth. Many top bloggers earn $1 million+ a year.
We live in the information age. Over 4.48 billion people are on the internet. That’s 58% of the world.
Can you imagine if even .01% of those 4.48 billion people visited your blog to read an article?
That would be 404,400,000 people! 404 million readers.
Imagine if an even smaller percentage read your blog, say, .0001% of the 4.48 billion people who are on the internet.
You would still have 40,430,000 readers. That’s over 40 million readers from the thousandth percent of 1%.
Are you gaining some perspective? Do you see the potential you have to earn a fantastic living with blogging?
Let’s talk about how to get started making your own blog, and then how you will earn revenue.
If you want a step-by-step guide on how to start a blog, I highly recommend you read my guide on how to start a blog.
In this guide, I go in-depth on starting a blog from absolutely zero. Seriously, check it out if you’re considering starting a blog.
Getting started: Your niche
Before we talk about the technical side of setting up your blog and how you will begin earning money from it, let’s first talk about one very important thing… your niche.
What are you going to blog about?
It has to be very specific. You cannot be too broad and talk about everything from arts & crafts to personal finance to sports.
When deciding what you want your blog to be about, it helps to keep in mind the things that personally interest you.
Do you have a passion for fitness and health? Then maybe that should be your niche.
Do you love cooking and creating wonderful desserts? If so, you could probably talk about it for hours, couldn’t you?
Your niche can be anything. If you feel that you don’t necessarily have a passion that you could blog about, let me ask you this.
Are you married and love your spouse? Do you have a pet that you love? Start a blog giving tips and advice on how to have a successful marriage or how to take care of your pet properly.
Blogging about something that you already have a passion formakes it easier to create content around that passion. So ask yourself that question, what makes me most happy?
How to make money blogging
Blogging offers a variety of avenues to generate income. I’m going to list out the most popular ways here and explain briefly how each one works.
- Google Adsense – This allows Google to place ads in designated areas across your website. Every time someone sees or clicks a placed ad, you get paid. Simple. The more readers your site attracts, the more you get paid.
- Affiliate Links – These are links that when clicked, lead to a website that was recommended by the blog post. If you purchase the product or service offered by clicking that link, the blog gets paid a percentage commission based on the purchase.
- Sponsored Posts – If Coca Cola or Nike reached out to you and said “We’ll pay you $25,000 to write about how much you love this new product we just released” would you do it? If so, the post that you create would be considered a sponsored post. It’s sponsored because you were paid to explicitly write a positive post about the brand or company.
- Direct Advertisement Buys – Different from Google Adsense, these are when a brand or company reach out to you directly and pay you to place their ad on your site, likely in a high traffic area.
- A Course/Product – If you create a course or product, then you can promote it to your readers. Generally, the course or product would be relevant to your blog niche, otherwise, your audience will not care about it.
- Consulting – If you are consistently providing valuable content, individuals or corporations can reach out to you and ask you to give them personal advice (consult them) and pay you for it. You can also have a page on your website that indicates you provide this service and how much it cost per hour or minute.
These are the most common ways to generate income from your blog.
At the beginning, your blog is not likely to have a significant amount of traffic that would lead to profits.
However, with time, consistency, passion, and good SEO, you will be well on your way.
How to get started
The purpose of this blog post is not to give you the exact step-by-step guide on how to set up a blog, you can follow a step-by-step guide here on setting up your blog.
If you prefer to simply pay someone else to do the technical setup for you, you can use services like Upwork or Fiverr. I also offer these services, you can check out my Upwork profile here.
3. Starting a YouTube channel
Want to hear something mind blowing?
Did you know that YouTube is the second most visited site on the web, right behind Google?
YouTube has proven to be a lucrative career if you are willing to invest the time and effort. You have to be willing to hustle.
Understand that at the beginning of your journey, when you first create your channel and begin curating videos, it will be difficult.
I don’t want to convince you to not try it in the first place. However, understand that great things in life do not come easy.
If great things in life came easy, then we would all be millionaires with perfect bodies. But this is not the case. You have to be willing to hustle.
How to make money on YouTube
Like I mentioned earlier, YouTube can be a very lucrative career. It gives you the potential to earn a substantial income if you are able to stay consistent and grow your channel.
Similarly to making money with a blog, income from YouTube is earned in near-identical ways.
- Google Adsense – This allows Google to place ads in your videos, and above your video description. Every time someone sees or clicks a placed ad, you get paid. The more people watching your videos, the more you get paid.
- Affiliate Links – These are links that when clicked, lead to a website that was recommended by the video. If you purchase the product or service offered by clicking that link, the blog gets paid a percentage commission based on the purchase.
- Sponsored Videos – If Coca Cola or Nike reached out to you and said “We’ll pay you $25,000 to make a video about how much you love this new product we just released” would you do it? If so, the video that you create would be considered a sponsored video. It’s sponsored because you were paid to explicitly talk positively about the brand or company.
- Brand Placement – Similar to how it’s done in movies when a movie star is drinking a can of Pepsi. That is done intentionally and is called brand placement. This can happen with YouTubers. A brand or company reaches out to you and asks you to wear their t-shirt or use their skateboard. In exchange they pay you.
- A Course/Product – If you create a course or product, then you can promote it to your viewers. Generally, the course or product would be relevant to your channel’s niche, otherwise, your audience will not care about it. A lot of YouTuber’s will start a clothing brand, and wear their own clothes in their videos, promoting their own brand.
- Consulting – If you are consistently providing valuable content, individuals or corporations can reach out to you and ask you to give them personal advice (consult them) and pay you for it.
How to get started
Get started by creating a YouTube channel. Odds are you already have an account so you’re already one step ahead.
Next, figure out your niche. What do you want to talk about? There is no right or wrong answer.
Choose a niche that you are passionate about or would otherwise have fun making videos about.
Having a niche is the only real way you can build up a substantial audience.
A community of viewers who consistently consume your content and look forward to you posting new videos.
After that, begin researching how to grow your YouTube channel. YouTube actually has an entire website dedicated to this topic.
Read, watch, listen, learn. And then apply what you’ve learned.
You have to be intentional about the content you are creating and how you are choosing to get views for your videos.
I can tell you right now some of the most crucial elements to getting more views on your videos.
- Have intriguing, eye-catching thumbnails
- Have “clickbaity” but relevant titles (avoid lying)
- Have good SEO on your videos (for more on that, go here)
- Have good content
Of course, the last point should go without saying, but you would be surprised…
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4. Selling information
Selling information is a lot like selling water.
You can get the stuff for free by simply turning on your kitchen faucet, yet people spend billions of dollars a year to buy the same stuff in a bottle.
There is so much free information on the web.
A simple Google or YouTube search and you can find more information on almost any topic than you would ever need.
Yet, people still pay to have that same information given to them in a course, book, or membership website.
Why is that?
It’s because there is a tendency for people to value things more when they spend money on it versus receiving the same information for free.
So what exactly do I mean when I say sell information?
Well, do you have knowledge of how to bake a perfect cake? Create an ebook on how to bake the perfect cake and sell it on Amazon.
Do you have a specialized skill that someone would pay you to teach them? Create a membership website or online course and sell that to people.
Take the information that you have in your head on a certain topic or area of expertise, and figure out how to capitalize on it.
How to make money selling information
You may be thinking to yourself, how can I possibly become a millionaire selling information?
There are plenty, and I mean plenty of people who have done it. Take this person who made millions of dollars selling his ebook online.
I could give you dozens of individuals who have amassed fortunes by selling information. Ever heard of Tony Robbins?
To begin making money selling information, you first have to figure out what kind of information you are going to sell and what medium you will use to sell it.
There are plenty of ways you could go about it:
- Online courses
- Membership websites
- Local classes
These are just a few examples. But get creative, and be smart.
If you live in a small town with a population of 1,000 it probably isn’t a smart idea to try and start a class at your local YMCA on teaching pottery.
Instead, take advantage of the over 4 billion people on the internet and create an online course or teach your skills on a site like SkillShare. You will get a lot more attention this way.
Want more money making ideas? Check out these posts: