I’d like to share what I believe to be the easiest way, for a small business owner to make a million (pounds, dollars, euros etc).
How to make a million
Mathematically, there are lots of ways to achieve your million. Here are 3, starting with the worst and finishing with what I believe is the best option for a small business owner, with limited resources.
- You can make £1 from a million people. Possible, but incredibly hard. You need an extremely large reach, to connect with the millions of people required, in order to find 1 million who will pay you £1.
- You can make £1000 from 1000 different people. Easier than the first option. It requires a far smaller reach.
- Alternatively, you can make £10,000 from just 100 clients or customers. The balance here is a lot easier for you to manage. If you provide a product or service that has massive value, it’s extremely achievable to attract just 100 clients. Equally, if you’re marketing to the correct type of people or businesses, they have zero problem investing £10,000 in something, which they value enough.
These are not exact numbers. The best option for you may be somewhere between number 2 and number 3. The key is to get you thinking about how to make your next, or first, million.
An achievable, realistic target
Whilst many people struggle to believe they can become a millionaire, everyone in business knows they can attract 100 high value clients or customers, if they use the correct strategy. This totally changes how you feel about becoming a millionaire. Now it’s an achievable, realistic goal.
So, what are you going to create, which 100 people or organisations will pay you £10,000 for? Spend some time thinking about that. Give it the time and effort it deserves.
It could change your life.
Tip: Here are some useful ideas, on how to create a great new product or service.