Learning From the Best How to Make a Million Dollars in 5 YearsPosted by Aaliawilliam on December 27th, 2019 The first step you need to undertake is toAbundance With Money Reviewbuild a business. Do not fret if you do not have enough money, as many businesses do not require that much money to get started. Whether it is something you are proficient in doing, such as being a good lawyer, or knowing how to mow a lawn, or you are just willing to engage in the good old business of buying and selling stuff, if you are well-focused on getting rich, you will be able to generate the income you are after in 5 years. The second step is to think what means to make a million dollars during 5 years. Simple math will show you that you need to make 550 USD profit each day for the next 5 years, in order to reach your million dollars. At first glance, it may sound like much, but the truth is that many successful businesses base their philosophy on increasing profit and expanding their customer base, which brings us to the next step. The third step is advertising. After you build a steady business that ensures a nice income for you and your family, you will have to think about profitable ways of making it generating even more income. Increasing prices is not a good idea, since your loyal clients may choose to switch to a less demanding business, instead of sticking with you. What you need to do is to start advertising your business, so that you gain more customers. The fourth step is hiring extra workers to help you honor all your contracts. While employees cost extra money, there is simply that much work someone can handle on themselves. Once you reach that limit, you will need to consider hiring more people to make your business thrive. Calculate the profit per worker you will obtain, never forgetting about how many contracts you have on a regular basis. The better profit, the better your calculations regarding how many other people you should hire for your business. Like it? Share it! More by this author |