They appreciate the power of learning long after college or any formal education is over, he explains: “Walk into a wealthy person’s home and one of the first things you’ll see is an extensive library of books they’ve used to educate themselves on how to become more successful. The middle class reads novels, tabloids, and entertainment magazines.”
Charge for something– Building a consumer property dependent upon advertising has easily made many millionaires, but it isn’t the surest path. It takes a lot of time and scale, which due to cashflow issues will require large outside investment probably before you are a millionaire. Build something that you can charge for. That’s how business has worked for thousands of years prior to the 1990s. Make something, charge for it, repeat it. DHH explains this really well at Startup School 08.
Many of you are amazed at how much content I publish every month. I wanted to take you behind the scenes as once you understand my strategy, you won’t be that amazed and you’ll probably be able to do the same yourself (and get better results than me).
Get into affiliate marketing. If you’re active on social media and have a large following, you could parlay those connections into some fast cash with a comprehensive affiliate marketing strategy. By becoming an affiliate marketer, you’ll sell items through your own links tied to sites like Amazon.com, ClickBank.com, and Commission Junction.
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Becoming a millionaire is something that most of us dream about at one time or another. We look at those with large amounts of wealth and wonder how they got there, and more importantly, we wonder how we can get there as well. The road to wealth requires patience, but the steps needed to get there are relatively simply. If you want to know how to become a millionaire, simply study and follow the instructions below, and financial freedom will (semi) soon be yours.
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Don’t put all your trust in Social Security. While it’s a good bet that Social Security will continue to work for the next 20 or so years, some data suggest that if Congress doesn’t radically alter the system — either by raising taxes or reducing benefits — Social Security won’t be available in its current form. It is probable, however, that Congress will act to “fix” Social Security. In any event, Social Security was never designed to be the only resource for retirees in their later years. That makes it all the more important that you save and invest for the future. 
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Thanks for this post Erica! I’m actually in the process of looking for ways that I can supplement my current income and these are some really interesting ideas. I’d like to learn more about: Help local businesses develop an online presence, Interview other people and sell the interviews, and Write articles for magazines or other publications.
It’s understandable, because once we adopt the mind-shift that we can control more than we’ve let on ourselves to believe, then the onus is on us—we can’t be the passive spectators anymore. Our actions will determine our outcomes.
I know you want to find some legitimate work from home jobs that are not rip-offs. So, I have scoured through hundreds of ways to work at home, and came up with the 50 legitimate ways to make money from home.
According to Jen Smith, her parents were intelligent, hard-working adults. Unfortunately, they always lived paycheck to paycheck. Jen eventually married her husband, a construction worker who made just $8 an hour, and drifted from one minimum wage job to the next. Eventually, she realized that she was just one missed step away from being homeless.
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Intellectual property includes things like books, trademarks, patents, songs, scripts, art, etc. Many professors use their expertise to write books and consult in their field. Other professionals use their expertise to create seminars, workshops, and training programs where they sell their books and other materials.
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What skills do you have? Now, what do you know — and know well? These are the skills you have that you’re great at — and people want to pay you to teach them. Examples: Fluency in a foreign language, programming knowledge, cooking skills, etc.
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Oh, I just want to also add, Erica Douglass is very good at marketing, hence her main income is from sites like these. They are good sites, but the ideas given do not give a ‘real’ income at all. Well done to Erica and I wish you well.
Millionaires educate themselves about investing and seek professional advice, choose high-quality blue chip stocks or mutual funds with good long-term performance records, invest consistently, and hold onto these quality investments over a long period of time.
Stay rich. It’s hard to get rich, but it’s even harder to stay rich. Your wealth is always going to be affected by the market, and the market has its ups and downs. If you get too comfortable when times are good, you’ll quickly drop back to square one when the market hits a slump. If you get a promotion or a raise, or if your ROI goes up a percentage point, don’t spend the extra. Save it for when business is slow and your ROI goes down two percentage points.
Don’t forget that some leveraged ETFs can produce unintended results if you hold them too long. Due to the mathematical nature of these funds, the long-term performance won’t necessarily match the index it tracks — especially those that are designed to act inverse to the equity index.
I guess what I am trying to say is that despite what you may hear online, making money with a blog is not as easy as setting up a blog and posting to it every day. It takes hard work, dedication, and most importantly, patience.
Word of mouth is the most powerful marketing tool that you can employ. Many large corporations spend millions of dollars on marketing only to pay their customer service personnel minimum wage. This is their area of vulnerability – your small business can create more personal relationships and provide better delivery and customer service than most of the large players in the industry.
If it’s a mass market “trend” that’s all over the news, it’s too late- This means the barriers to entry are usually too high at this point to have the greatest possible chance of success. Sure you could still make a lot of money in something like the app store or the facebook platform, but the chances are significantly less than they were in the summer of 08 or spring of 2007. You can always revisit past trends though. Peter Cooper and I clarified some of the semantics about what is a trend over here.
Hi Ron, glad you liked the post. You’re right. Many people make millions of dollars and then end up broke because of poor management. And yes, a lot of people sell themselves short. Every once in a while I like to publish a short post about a quote to try and inspire more people to go after their dreams and not settle for less for this very reason. I want people to see what they can really accomplish if they try. Hope to hear more from you on future posts!
So is My Millionaire Mentor a scam or not? Well, the answer is while it is definitely shady, it is not a scam. To explain how this whole operation works you have to understand the players and their objectives. ‘Matt’ in this case refers to Matt Lloyd a successful internet entrepreneur and multi-millionaire.
This leaves you being able to squeeze out the free bet, which can be as much as £200! Multiply this by how many betting sites there are and you can quite easily come away with a profit of a few hundred pounds.
It is not so much a big idea that makes it big but how to execute an idea, even a medicore one, well that is the key. I think its a bit misleading to think of an idea to make millions. Many a tech start-up has died terrible deaths with that thinking. A better approach is to take an existing idea or business model and improve on it. After all, MS has made billions being 2nd into the market.
Sure, there are some options like blogging that can make you a full time living but it takes a lot of hard work and dedication. But the majority of these methods, like surveys, reviewing, money making apps and so on, are not going to help you quite your day job. They are great for earning a little side cash in your free time. There is no need for me to hype things up and tell you otherwise.