How to earn
1 Million
15 Ways To Make One Million Dollars
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this is the sunday motivational video
every Sunday we bring you a different
type of video which should improve your
life today we're looking at 15 ways to
make $1,000,000 welcome to a lox calm
the place where future billionaires come
to get inspired
hello ale Xers can you believe it's been
a full week already we hope you've been
following your dreams and putting in the
work the goal with our Sunday videos was
always to motivate and give some inside
knowledge which you can leverage to your
own advantage if you choose to when we
asked you guys what your immediate
financial goal was on Instagram at a
luxe most of you said that it was to
make your first million so that's what
we're doing today making 1 million
dollars sounds like a lot of money if
you've never earned high figures before
it might seem like an obsolete objective
but the truth is 1700 new millionaires
are created each day that's over six
hundred and twenty thousand new
millionaires every year so how do they
do it how come so many people become
millionaires and why can't you do the
same well it's all about positioning and
how valuable you are to the marketplace
if the marketplace thinks you deserve 1
million dollars or more it will in turn
give you that amount in order to make
this video we researched people whom we
know about and have made more than a
million dollars in the last couple of
years who knows maybe one of them will
spark an idea which will be the
beginning of a long journey for you if
you're a new here welcome be sure to
subscribe and follow us on instagram at
Alex with that said here are 15 ways to
make 1 million dollars number one be in
the top 1% of a lucrative profession
shocking right be really good at a job
that pays really well it's super easy to
become a millionaire if you know what
you're doing and your specialized
doctors lawyers and upper management in
the US and Europe earn on average over
one hundred and fifty thousand dollars
per year if you're really good at what
you do and hyper specialize
you can double or even triple that
amount the highest paying job with the
lowest barriers of entry is sales if you
know how to sell you can make a ton of
money no matter where you find yourself
compared to doctors and lawyers the 1%
of sales people earn north of two
hundred and fifty thousand dollars per
year which will have them passed the 1
million dollar mark in just four years
not to mention that selling is an
incredibly valuable skill for all
strategies we discussed throughout this
video we'll make a video on the best
books on selling sometime soon but if
you want to start today we recommend you
pick up the 10x rule by Grant Cardone or
the sales Bible by Jeffrey Gitomer you
can get one of them for free as an
audiobook when you sign up at a lakhs
comm slash free book speaking of books
number two write several books that sell
ok the trap many people fall into is
they think you need to write the next
Harry Potter or Fifty Shades of Grey in
order to get rich from books the
likelihood of you knocking it out of the
park is incredibly low with that said
getting to 1 million dollars from
writing books is a pretty doable job if
you find the right angle and an audience
willing to purchase few people know this
but in order to become a New York Times
bestselling author you only need to sell
around 10,000 books
it can even be as low as five thousand
books if you've been on the list before
if your writing is good just keep
putting out more and more books until
one of them as a hit there are plenty of
examples of people who did it this way
but our favorite by far is Amanda
Hocking you probably have no idea who
she is she's been rejected by almost
every single publisher in the game none
of her novels were given a shot she was
broke but really wanted to go to a
Muppets convention but she needed the
money for gas to drive to the event in
order to make some of the 300 dollars
she needed she self-published her novels
on Kindle one month later she had made
over $20,000 so she added all of her
novels up there 20 months into it she's
made over 2.5 million dollars from books
which were not good enough to be picked
up by a publisher pro tip if you have
Podcast blog a YouTube channel any form
of audience people will want to support
your efforts and are even willing to
preorder your work just to share the
journey with you
number three license a patent or
trademark to a big company another
creative way to add value to the world
is by being an inventor designer or
engineer if you can figure out a way to
solve a problem better than what's out
there already you could be sitting on a
goldmine
a great example of this is Lonnie
Johnson again you probably have no idea
who he is but you've probably heard of
the Super Soaker while toying around pun
intended he created this cool toy but
didn't have the skills to create an
entire company produce market and sell
individual products so he licensed the
technology to a company called Hasbro he
got paid a 3% royalty out of the price
of every unit sold making over 100
million dollars from this deal alone he
now has 80 patents and a net worth of
over 350 million dollars fro tip we know
patents are expensive but there are
certain ways to protect yourself even
without having an internationally issued
patent what you need to do is to
document how your invention works in
extreme details have that in writing and
burned into a CD or USB drive and mail
it in a sealed envelope to yourself when
the envelope arrives back it should
contain the date and stamp of a
government institution never break that
seal if it comes down to it this is your
undeniable proof that you were the first
one to figure this out and rights should
be awarded to you in a patent case or at
least end up in a highly lucrative
settlement number four start a drop
shipping company under your own label
for those of you who have no idea what
drop shipping is it's a very fun and
interesting business model where you
find a supplier someone who can create
package and deliver a product on your
behalf your job is to bring in the sales
here's how it goes let's say you found a
supplier who can package and deliver
weight loss tea from China for $5 per
package you now set up a website where
you can sell that exact Prada
for $20 apiece when the order comes in
you send over the $5 to the supplier
with the details from the order who
takes care of everything and delivers
the item to the buyer on your behalf
yourself keeping the remaining $15
cha-ching profit we didn't choose a
weight loss tee by accident either we've
actually studied and analyzed the
success a young entrepreneur named Greta
Van Rio had in this space she's the one
who started the entire Instagram model
Fitness T phenomenon six months into her
business she was bringing in over half a
million dollars per month if that number
shocks you you might want to read up on
her since she's one of our personal
heroes during new product launches she
made over 1 million dollars in a single
day just to let you know that these
kinds of numbers are possible you know
how Kylie Jenner is almost a billionaire
now she's been using the drop shipping
model as well
she owns 100% of the company and has
only 6 employees all production and
fulfillment is outsourced to a different
company number five start a small
business and keep growing although most
of the ideas mentioned on this list are
super specific the way most people end
up millionaires is by creating a small
business and just growing it we know it
sounds a tad more general but this
comprises the hustler mindset which is
focused on growth starting a new
business is always difficult but the
path is more or less the same no matter
which business you choose it all starts
with solving a problem figuring out how
to get paid and then bringing in people
so you can focus on what is important
for the business to grow everyone has a
few business ideas in their heads it's
just a matter of implementation although
that might sound overwhelming the
process is pretty straightforward and
simple that's why we've created a video
called 15 things to know when starting a
business which you can check out by
clicking in the top right corner if
you're planning on starting your first
business there probably isn't a more
important video to watch than that one
number 6 aggressively save money and put
in index funds for several years you
need to understand the power of the
compound interest and use it to get rich
someone might say it's the most
important mathematical discovery in the
world and by someone we mean Albert
Einstein who numerous times said
compound interest is the eighth wonder
of the world he who understands it earns
it he who doesn't pays it if you
understand money and investment funds
you know that a 7% annual return is
easily doable now it's a matter of just
how much money you can save traditional
strategies go like this if you're able
to save 10 percent of your yearly income
and let's say you earn $50,000 per year
it will take you 40 years to get a
million dollars saved but who wants to
be a millionaire when they're old that's
not the a luxe way but it gets a lot
more interesting if you're able to play
around with those numbers you should try
to increase all three most important
variables one the amount of money you
earn two the amount of money you're able
to put aside and three the return on
your investment well the first to depend
on your own choices the third one on the
other hand is pretty straightforward for
example the first thing we should do is
take the money out of a 7% mutual fund
and put it in an index fund like the S&P
500 for those of you new to this the S&P
500 is a fund made out of the top 500
companies in the US if a company is not
performing well it gets taken out and
replaced by a new worthy company for the
past 90 years the S&P 500 generated an
average of 10%
yearly returns although we're not
sponsored by them we would recommend you
look into Vanguard and Robin Hood and if
you're not the entrepreneurial type
meaning you're not sure how to create a
multi-million dollar company by selling
products or services there is this
really great book by Tony Robbins called
money master the game which we cannot
recommend enough it's the book we gift
our friends on how to get rich in the
safest way possible you can even get the
audiobook for free if you sign up at
Alex calm slash free book number seven
do an ICO for the past couple of years
crypto has been the wild wild west of
money the amount of people who get
really rich really fast on crypto has
been astonishing to us for those not
familiar with the crypto terminology
initial coin offerings also known as AI
cos are an alternative form of
crowdfunding where a company issues
tokens at a discounted price so they can
use the early funding to create a
digital service which will run on said
tokens if the product is successful your
initial tokens could skyrocket and value
based on the demand for them we would
not actually recommend investing in
other people's icos unless you know them
to be trustworthy and have a solid team
behind them instead create your own
blockchain based company and seek
private investors to back it up only
after the product has gained some
traction you should be ready for your
own ICO where you open it up to the
public as early investors every single
type of financial related service is
getting disrupted by blockchain your
goal is to find out where you fit into
the cluster of new services no matter
what your stance on Bitcoin or a theory
em is blockchain is here to stay and we
would actually recommend you start
teaching yourself more and more about
the industry if you want to make some
sense of it in the future
number eight purchase a franchise and
make it really successful if you're not
the creative type a franchise is a
simple and lucrative way to get yourself
into business because somebody else has
already optimized it for you you just
need to make sure things keep on moving
the way they should a franchise for
those of you don't know is a company
that creates a lucrative business with
an already established brand that's made
out of simplified systems which can be
duplicated over and over again think
McDonald's or Starbucks so how does this
work you reach out to the company with
the aim of buying a franchise there are
two types of costs you need to know
about a standard franchise fee and a
percentage of the business you're
generating in exchange for this money
the company provides all the tools you
need to get the business up and running
you can find profitable franchises
starting as low as
$10,000 but depending on what you're
looking for
there are obviously more expensive
options for example a Dunkin Donuts
franchise fee is between 40,000 and
90,000 dollars depending on location but
that's not all
the company requires you to have at
least 250,000 dollars in liquid assets
just to make sure you can keep the thing
running it's up to you to find the right
franchise for your geography and budget
number 9 create a subscription service
where 1,000 people pay eighty three
dollars per month okay it's time we
introduced you a Luxor's to what's
called millionaire math which means in
how many ways can you get to 1 million
dollars in one year off the top of our
heads
considering subscription services you
have five thousand people pay you $17
per month for 12 months two thousand
people pay you $42 per month for 12
months 1,000 people pay you eighty three
dollars per month for 12 months 500
people pay you 167 dollars per month for
12 months or 300 people pay you two
hundred and seventy eight dollars per
month for 12 months you get the idea
all of these will get you to the
seven-figure promised land that's why
everybody is doing subscription services
these days and you've seen the
popularity of the likes of Netflix tidal
and Apple music increase just to put
things into perspective as of 2018
Netflix has 125 million subscribed users
to its service with a minimum of $7.99
per month in 2017 they did over 11
billion dollars in revenue it's always
shocking to us to see how many people
never do the math on these things once
you realized the kind of numbers you
need to be making it's a pretty
straightforward game to play it's all
about finding a service people are
willing to pay and stick around for
number 10 work for someone who's a
multimillionaire
or even better work for someone who's a
billionaire the quickest way to making
your first million dollars is to work
directly for someone who's made a
billion dollars rich people value time
above everything else
and they really value people who are
able to save them time the best way to
do this is to find someone who's
incredibly wealthy and help them either
save time or make money either way
you'll find that their generosity is
directly proportional to the value you
bring into their life now before you
take a shot at this it's important to
know that you should already have a
trust-based relationship with that
wealthy individual the last thing you
want to do and we cannot stress this
enough is to spam the hell out of people
with how you have this idea which will
change the world
believe it or not even we get at least
100 emails like this every month which
we never reply to when most people think
of multimillionaires
they usually envision entrepreneurs
starting companies but the truth is
roughly one in five millionaires work
for someone else and that's how they got
rich if you think about it you're more
likely to become a millionaire by
working for a wealthy individual than by
becoming a millionaire by starting your
own business if this is your plan we
recommend you find yourself a mentor
these people are open to helping you
grow they provide guidance and
opportunities which you wouldn't have
access to otherwise if they trust you
enough they'll bring you into their
organizations and make sure you're taken
care of if you want to learn how to find
a mentor and the advantages having one
will bring into your life then click in
the top right corner because we have got
you covered number eleven go viral on
YouTube who would have thought that
going viral on YouTube could make you a
millionaire this all changed in the last
couple of years it obviously depends on
the type of video if it's advertiser
friendly and who is watching the video
but a ballpark figure would be somewhere
between 500 million and a billion views
for example Gangnam style alone made psy
over eight million dollars it's not all
YouTube advertising alone but the
exposure got him plenty of extra
opportunities and psy is still cashing
in big believe it or not that video is
still making him decent money today
you also have large creators leveraging
their YouTube fame in order to create
additional revenue sources like the Paul
brothers do with their merch lines
or how Jeffrey star did with his makeup
line YouTube is the new TV which is why
we're here our selves number 12 have a
blog that gets over 41 million views per
month
speaking of advertising having a popular
blog can still make you a
multimillionaire when we started out
Alex calm was focused on publishing
articles on luxury topics and we still
get a lot of visitors to those articles
one of the people we've been following
closely in this space was Scott DeLong
the creator of viral Nova for those of
you who don't know the website he's been
at the forefront of viral articles
distributed through Facebook
very similar to what BuzzFeed used to do
and to be honest
still does he started viral Nova in 2014
and sold it one and a half years later
for reportedly 100 million dollars
during November and December he was
already generating over 1 million
dollars per month from advertising
revenues alone out of everything we
mentioned on this list getting over 40
million readers per month on your blog
is probably the most difficult one to do
unless you're able to do what Scott did
and ride a new wave which people hadn't
figured out yet
number 13 make an app that a million
people use there's still a ton of money
to be made with apps if you know what
you're doing and can actually offer a
valuable service
the problem with apps is that unless the
user feels the need to return to the app
on a frequent basis you've already lost
the app ecosystem has evolved in the
past couple of years from candy crush
making almost 1 million dollars per day
at their peak to the meditation app calm
which just recently was valued at 250
million dollars to now fortnight passing
1 billion dollars in just three months
through in-app purchases the secret to
most apps has been the ability to bring
in additional revenue within the app
depending on how much revenue you can
extract from every single user the road
to the first million dollars can be a
lot shorter than expected if the
customers find value in what you're
offering if you really want to score big
with apps there's a book which we could
recommend called how to build a billion
dollar app by the guy who created
and II crush in which they break down
how to conceptualize and scale this kind
of project you'll find a link to the
book in the description or get the
audiobook for free when you sign up at a
luxe comm slash free book number 14 get
over 100,000 twitch subscribers
live-streaming is going mainstream and
some might even say it already has you
have the likes of ninja who are
spearheading this movement generating
between 500,000 and 1 million dollars
every month from streaming alone for
those of you who have no idea what we're
talking about twitch is a platform which
allows users to broadcast themselves in
real time this type of technology has
been quickly adopted by gamers who
broadcast themselves playing video games
all good so how do they make money there
are multiple revenue streams here the
main one being paid subscriptions there
are different tiers of subscribers on
Twitch for 99 999 and $24 this amount
being split between the streamer and the
platform in addition to the paid
subscription viewers can donate money
directly to the streamer in order to
show support and then there's the good
old finding a big sponsor who's paying a
streamer to endorse their product like
the type of deal that ninja has made
with redbull if a ballpark figure to
shoot for is 100,000 paid subscribers
but you can get to a million dollars
with less than 50000 if they're generous
enough number 15 buy flipped repeat this
is a fundamental rule of hustling and
one of the most common ways to make some
more money this is what commerce was
built on and it's capitalism in its
purest form find something you can
purchase at one price then sell it for
more to someone who's willing to pay a
premium for it this by flip repeat
strategy has taken many forms throughout
the years and we are always excited to
see it evolve depending on how the
culture is changing our favorite story
is the one revolving around 16 year old
Benjamin kicks who's making over 1
million dollars per year reselling
sneakers sneaker culture is big and
people are willing to pay good money to
get their hands on anything that's
exclusive like how people are paying
$500 for bricks that have the supreme
logo on them but anyways back to been in
the sneaker space
everyone knows been business is booming
he started out when his mom bought him a
pair of sneakers which he sold to a
classmate for almost double what he paid
for then he went ahead and started
buying more a few months passed by and
celebrities are looking to get their
hands on a type of sneakers that this
kid has so they reach out next thing you
know he's selling sneakers to DJ Khaled
French Montana future and more the most
expensive pair of sneakers he sold was
twenty thousand dollars and now he has
an entire operation for reselling
sneakers
people also do this in different markets
buying fixing flipping cars houses
antiques you name it it's all about
understanding how much some people are
willing to pay for something and getting
it for less than that now a lectures
were curious to know what are you doing
right now to get your first million
dollars let us know in the comments and
we'll try to provide you some feedback
now we know this has been a really long
video so for those of you who are still
with us
here's your bonus number sixteen come up
with such an original crazy idea that it
might just work if those ideas
previously mentioned are pretty
straightforward
this time we're encouraging you guys to
look way outside the box and let your
creativity free who knows what might
come out
there's this guy who made fifteen
million dollars selling rocks as pets to
people another who made 1 million
dollars by selling pixels on his website
for 1 million dollars
each this woman became a
multimillionaire by selling sunglasses
for dogs and these guys will send a
message on a potato on your behalf the
world is filled with crazy stories and
we hope this list sparked an idea inside
of you if you've watched up to this
point and you're already on your journey
to becoming a millionaire please write
first million in the common
below and will wish you luck it's always
great to see how many of you are
watching these videos all the way to the
end thank you for spending some time
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we also hand-picked these videos which
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for being an a lexer and we'll see you
back tomorrow
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