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    How would you make a million dollars in one month?

    Holy crap, this is an interesting question…..

     

    How would you make a million dollars in one month?

    million-dollar-bill

    But seriously, let’s say I kidnapped one of your kids (and not the ugly one, but the good one)….and you had to come up with a $1,000,000 bucks by the end of the month to get him back.

    How would you do it?

    I already asked how would you make:

    This is a pretty difficult question to answer, so I again asked some very very successful friends in varied industries how they would make $1,000,000 in around a month to help jog your mind before you answer in the comments. 

     

    SOFTWARE BACKGROUND GUY:

    “HOW WOULD YOU MAKE AN EXTRA $1,000,000 IN A MONTH?”:

    To people with billions of dollars, a million dollars is a thousand dollars. Solve a problem that someone with billions of dollars has.

    I would create a custom piece of software that saves a large company money, and sell them that custom solution. I would find WHO to sell it to through LinkedIn.

     

    INVESTOR & FINANCE DUDE:

    “HOW WOULD YOU MAKE AN EXTRA $1,000,000 IN A MONTH?”:

    There’s usually no way to inherently increase the value of an investment by 10x or 100x very quickly, unless it’s inherently super risky.

    So in this situation of making a shit ton of money quickly, I’d find a small pharmaceutical company that’s on the verge of an FDA approval announcement, and bet heavily for (or against) them.

    That’a the only way I can think of increasing an investment that rapidly.

     

    REAL ESTATE DEVELOPER:

    “HOW WOULD YOU MAKE AN EXTRA $1,000,000 IN A MONTH?”:

    Well you’re talking a little crazy about making $1,000,000 that quickly, so I’ll give a crazy answer.  The stars have to align for this to happen, but I HAVE seen it done several times:

    You go and find a large apartment complex that’s in trouble and running under terrible management.  Perhaps a complex that owes $20million to bank, but their property is only appraised and worth $15million, and they are about to go bankrupt.

    You approach their bank and step in as a “solvent entity” to take over that loan.

    You say, “I don’t think the property is worth $15,000,000 as appraised…..but I’ll still offer you $16,000,000 and you don’t have to go through with the foreclosure process on the property.”

    The bank might be happy to sell you the loan, because they don’t wanna deal with the whole bankruptcy and foreclosure process. So you might be able to buy this $20million dollar loan at a SIGNIFICANT discount at around $16million.

    Now if the property forecloses, YOU get full ownership.  You can usually put in just a few hundred thousand dollars to increase the value of that property to $18million.  So now for roughly $16.5 million you sold a property for $18million.

    You just made $1,500,000 in profit in a super short amount of time.  

    The stars have to align for this to happen, but I’ve seen it done.

     

    SF TECH GUY:

    “HOW WOULD YOU MAKE AN EXTRA $1,000,000 IN A MONTH?”:

    If I wanted to be shady I'd make a pyramid scheme? Otherwise I'd borrow from friends or investors? But if you break down one million dollars, it requires an investment of $10,000 from only 100 people.Like....you just need to have 100 customers for something. That's doesn't sound totally unreasonable.

    An interesting way to look at how to make $1,000,000 in one month would be to break down the numbers, for example: Using this product pricing calculator you can work backwards:If you sell a product, to make $1,000,000 in one month:make a million dollars pricing breakdown

    • You need 5,000 people to buy a $200 product.
    • You need 2,000 people to buy a $500 product.
    • You need 1,000 people to buy a $1,000 product.
    • You need 500 people to buy a $2,000 product.
    • You need 300 people to buy a $3,333 product.
    • You need 200 people to buy a $5,000 product.
    • You need 100 people to buy a $10,000 product.
    • You need 50 people to buy a $20,000 product.
    • You need 25 people to buy a $40,000 product.
    • You need 5 people to buy a $200,000 product.

    Breaking it down in this way can makes generating a million bucks far more attainable. Can you sell 100 people a $10,000 product or service? That would be $1,000,000 in revenue! It might be difficult to do this from scratch, but thinking about this problem backwards can really help you plan out how YOU would make a million dollars in a month.

     

    Hope this $1,000,000 exercise stretched your mind a bit!  Go through the comments below, there’s some good suggestions on how people would make a million dollars in a month.   Also comment with the way YOU’D make a million dollars in a month, or how you’ve seen it done before.

    Sincerely,

    Neville Medhora – A Kontinuously Kurious Kopywriter

    Interested in seeing how others would make different sums of money each month? Checkout everyone's answers for:

    P.S. If you need help coming up with million dollar ideas, use this Business Idea Generator to kick around some ideas! Or if you start a membership program use this recurring revenue calculator to see how much to charge people per month to make a million bucks.

    P.P.S. Comment on the post with your plan/scheme/plot to make $1,000,000 in about a month, or how you’ve seen someone else make $1,000,000 in a short period of time.


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    First off, if you kidnapped a child, I'd call the FBI and tell them I need a million dollars to get my kid back. Nicholas Cage or Mel Gibson might need to be called too.

    Crowdfunding is the only way I can imagine collecting enough income to have an extra $1,000,000 within 30 days. That likely to mean that I need to raise 1.5 million. According to Kickstarter, only 86 campaigns have created more than 1 million, and we're not sure how long they took. They can last up to 60 days. However, in reality I would probably have to make it a 2 or 3 week campaign in order to be able to get all funds out in time via Indigogo.

    However, we can see (at https://www.kickstarter.com/help/stats ) that 36 of them are in the games category. So I might try to find a heart throbbing cause, and tie that into a way to create a game out of it. It would take more than the few minutes I'm spending on this post. The good part is that a game or other perks could be delivered well after the 30 days.

    Day 1: Design a Kickstarter/Indigogo for a killer idea or cause. It's best to come up with something that is high profit. So create perks that are more about participation than about cost to reward. A cause, documentary about a cause, or something to that effect. T-Shirts, and other items could be created as low cost perks. A launch "event" with tickets at a venue that is either donated or rented out could be an added bonus for the big ticket perks.

    Day 2: Create a list of all media and influencers you can imagine within the niche, and broaden if appropriate. Likewise, create a list of major donor opportunities. Especially those with a track record of giving towards related campaigns.

    Day 3: Launch KickStarter. This includes writing copy, creating videos, and putting in all the perks.

    Day 4: Go after each and every one with personal emails, phone calls, tweets, facebook posts, linkedin update and even retargeted (content) ads.

    Day 5: Go after major donor opportunities, likewise. Look for people with a track record of contributing for similar causes.

    Day 6: Prepare Media appearances. Go after everything I can touch. Guest posts on blogs, podcast interviews, tv and radio interviews, etc. Give people a personal connection. Update the campaign with youtube videos, followup stories, related issues, etc. It's likely to be a really long day. But that's okay because I want to see my kid again.

    Day 7: Do I have any traction? Press on. Is it a flop? Then re-evaluate and either tweak it or create an entirely new idea because I only have 1 to 3 weeks left. ;-)

    Day 30: Call Jason Statham.

    Link to comment
    Guest Matt LaPrairie

    Posted

    Gordon,

    I like your example of offering a digital product to theworldreserve's buyers. Great idea.

    But your comment that you probably have a better chance of winning the lottery than making $1M got me thinking... is that true?

    What a learned from google:

    Odds of winning $1M from NY Lottery: 1 in 3.8 Million

    Odds that your US household has > $1M in net worth (excluding primary residence): 1 in 20

    Odds that your $1M+ in net worth was self-made and not inherited: 1 in 2

    So basically, everyone's got a 1 in 40 chance of making a million bucks. And those numbers only get better if you're smart, motivated, read NevBlog, etc.

    Link to comment
    I interchange Kickstarter and Indiegogo in the above as crowdfunding, but what I mean is Indiegogo. The payout is faster.
    Link to comment

    Easiest way would be one long gamble on huge odds, but it's the least likely.

    Assuming no funds to start with, I would start a recruiting firm that works with companies that have an employee referral bonus. I would network like crazy in a tech or engineering field. Assuming a $5000/person referral bonus, I would need to find 200 people to fill new jobs. That means I would need to meet about 7 people per day, which isn't impossible with social media and niche industry events. It would be incredibly hard, but not impossible.

    Link to comment
    Guest Guilherme

    Posted

    I've seen it being done, but not exactly from scratch. A writer wrote a book about a niche and that niche went kind of mainstream.

    What he did with next: a video product that detailed how he entered and dominated the skill set of the niche. He really hyped up the launch and sold 1000 copies for $1000 in a VERY short time.

    (If I remember well, those were the numbers. Could've been 5000 for $200 or some combination like that, but it was relatively exclusive, considering the size of the "niche". I remember thinking something like "Wow, he just made 1 million dollars in a couple of hours")

    Of course, it took way longer than a couple of hours to learn all of the stuff. But the product itself was a video of him in a private seminar for 5 guys - which he had already hyped before to his community. So he just used his previous effort to create a new product. This new hype-ing (aka creating a 'hungry crowd') and selling were really fast.

    Link to comment

    10 internet gurus that have 100k subscribers, a 2% conversion, a $100 product, and a 50% commission.

    If you're feeling extra lazy, you shoot the gurus doing whatever they do and make that you're product rather than writing something from scratch. Maybe do a seminar at a high price, shoot it, and resell the video at a lower price. Preselling the seminar would give you the 20-30k needed to pay for flights and video guy.

    I think found the point of this exercise...why the hell haven't I done this?

    Link to comment

    I would target unhappy lawyers. I would design a digital course to help them change careers.

    From the quick & dirty research I just did,

    – there were about 1.2 million lawyers in the US in 2012.

    – 70% are unhappy at work.

    – that means my target market is about 840 000 unhappy lawyers

    – 0.5% of my target market is 4200 unhappy lawyers.

    – the average salary of a lawyer is $130K/year

    I would find them on LinkedIn (I would need to brush up on Lewis Howes’ LinkedIn strategy) and Facebook. I'd try Bing/Yahoo ads over Google ads. Also, specialized lawyer-websites. Maybe even Reddit… I would do a webinar or two as well.

    I would use the insane kopywriting skills I developed after using the NevBox to write a dozen or so blog posts/email responder messages to lure them in. I would write about Peter Thiel (Paypal founder) and Martine Rothblatt (richest female CEO in the US) who used to be lawyers but “changed CAREERS and went on to change THE WORLD”. I like the ring of that lol.

    I would remind them how painful it is to wake up everyday and go to a job they hate. I would quote statistics about depression/suicide/divorce among lawyers - I would really be relying on my copy to convert these people into buyers.

    As I said, my target market would be 840 000 (if I focus only on US-based lawyers. If I included Canada and the UK, I could probably double this number). If I converted 0.5% of them (4200), I would have to sell the digital product at $239 to meet my $1,000,000 goal (excluding expenses). Or I could flip that number on its head and charge $4200 to 239 customers. Assuming it took me 10 days to prepare the course/email sequence/blog posts, I'd need to make 12 sales per day for the remaining 20 days to meet my goal of $1 million.

    It seems a bit pricey but I mean, this course is life-changing stuff for people who make an average of $130k/year and hate their jobs! I’d be offering them massive value!...Anyway, I'd need some major kopywriting skills to pull this off.

    That’s how I’d do it! Crazy how I couldn’t come up with a way to make an extra $1000 per month, but now I suddenly made $1 000 000 to save my good-looking imaginary child! High-stakes!

    Link to comment
    Guest Evan Chacker

    Posted

    Hey All,

    After my comment on how I would make a million dollars in 30 days, I liked the idea I posted so much that I last night I stayed up to 4AM and whipped up the copy for this sales page here: http://bit.ly/1wqqJFx

    I was talking to a programmer about building testimonial collecting software for my other business BUT now I am partnering with the programmer and we are creating a SaaS version (as per my original post) that will generate more sales on your website with testimonials

    For everyone who is posting an idea on how they can make a million bucks this month. . .Take Action!

    Don't just go for the win here, go for the B-I-G win and start or grow your dream business.

    Thanks Neville!

    Link to comment
    Guest Nicholas Johnson

    Posted

    I'm actually quite excited by this idea now. I might just validate it.
    Link to comment
    Guest Neville

    Posted

    Bahahaha.....WHO SAYS I'M GIVING YOUR KID BACK even after I get the $1,000,000 :-P
    Link to comment
    Guest Neville

    Posted

    Thanks Evan! If you could re-vamp someone's marketing in 30 days and make them several million extra dollars, I bet you could do this.

    This would probably imply you already have an in with the higher ups. But it CAN be done!

    Link to comment
    Guest Neville

    Posted

    Sandy, this is probably what happens in like 20% of the cases of new funds actually :)
    Link to comment
    Guest Neville

    Posted

    Hmm.....668. That's just 22 a day.

    I bet if you were do a BUNCH of webinars and podcasts with people with audiences during the month, you could legitimately hit that number.

    I like this response Chris....NevBox worthy!

    Link to comment
    Guest Neville

    Posted

    Nice idea Chris....sounds logistically hard, but who knows!
    Link to comment
    Guest Neville

    Posted

    True that most people making $1,000,000+/month have multiple streams.....but impatient and kidnapped your annoying kid, so I want it in 30 days!!
    Link to comment
    Guest Neville

    Posted

    Holy crap Glenn, this was AWESOME!!!

    You'd totally win a NevBox if you didn't already win one from yesterdays :)

    Thanks for this, some super-valuable lessons here!

    Link to comment
    Guest Neville

    Posted

    Wow, that'd be pretty difficult to implement and sell in a month.
    Link to comment
    Guest Neville

    Posted

    Actually if you did have an AI system you were in control of, you probably could easily make $1,000,000,000+ with it.
    Link to comment

    This is the first comment I read where someone came up with an idea that was good enough for them to actually go do- in the million in a month option, no less!

    How to get peeps on the webinars though?

    Link to comment
    Guest Neville

    Posted

    Well that's the point of this exercise Wayne. I won't go to $10,000,000 btw :)

    It's to show that there ARE ideas on here that would bring in $1,000,000. And it's usually just as easy to do a big deal, as a small deal.

    A brain stretcher for sure!

    Link to comment
    Guest Evan Chacker

    Posted

    It makes me think back The Game launch where F.K. reached out to Neil Strauss and convinced him to split a launch to his list. Also when he took his mentor Tony Robbins and convinced him to give it a try.

    Both of those brought in more than a million with 4 weeks or "Real Work".

    Going by a lot of the responses others have posted, it's obvious this is a smart (and good looking) group. I believe a lot of these folks bring a lot of value and could educate a higher up about some of the opportunities they may be missing out on, and then use their marketing and copy skills to make that Million dollars.

    Here's a real life example of someone who made a million dollars. . .

    There was guy who reached out to an info product owner, worked out a split deal and then he brokered a deal with Groupon to sell enough product to make a million dollars. AND he didn't have to do any of the fulfillment and customer service (I've purposely left the details out, as to not break confidence here).

    That's outside the box, but if you can negotiate a rev-share deal on the expertise and value you can deliver, with some work, you can surpass that goal!

    Link to comment
    You would be loved by assistants who have better things to do then get everyone coffee, that's for sure!!
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