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About 10% of the U.S. population makes $100,000 per year. But that's a whole YEAR to make that money.What if we ask:
How would you make an extra $100,000 in a month?
I was actually curious how friends of mine would answer this. So I asked several very successful friends, all from different backgrounds, how they would make an extra $100,000 in a month. Here’s their answers:
SOFTWARE BACKGROUND GUY:
“HOW WOULD YOU MAKE AN EXTRA $100,000 IN A MONTH?”:
I would create a piece of software that solves a problem and sell it on LinkedIn.
First I would find a medium to big sized company that’s wasting more than $100,000/month on a problem (maybe something involving their marketing where they have people manually entering numbers). Then I would create a piece of software that solves that SPECIFIC problem for them.
If I solve a problem that’s costing them $100,000/month, I can definitely get them to pay me at least $100,000 for that custom solution. Maybe even more, and just charge them half the cost upfront.
I would then contact the decision makers through LinkedIn and sell it.
The key is to make a CUSTOM TAILORED solution, those sell for more money.
SALES GUY:
“HOW WOULD YOU MAKE AN EXTRA $100,000 IN A MONTH?”:
There’s this whole underworld of big companies that want to get contracts from other big companies, and they pay guys like me to do that. Commissions can vary, but they’re often $300,000+ per deal you close. Now usually this process takes over a month, but for a $100,000 commissions I bet there’s smaller deals you can close in just one month.
I would first put a call out to my network saying, “I’m up for hire. $100,000 commission fee. I’m very close with (XYZ tech company) and (XYZ distribution company) and can close deals quickly here.”
A lot of this work is about having a valuable Rolodex already, and so there’s certain companies and industries I can close quickly.
INVESTOR & FINANCE DUDE:
“HOW WOULD YOU MAKE AN EXTRA $100,000 IN A MONTH?”:
The time constraint causes this to become borderline gambling, but I would find companies just about to release highly anticipated earnings and either play the stock or options depending on how much money I had available.
If you were to put up $1,000,000 and a stock moves up 10%….you’ve made your $100,000.
But making the money from scratch would be risky. Let’s say you only had $10,000 to invest, and it has to go up 10x.
There’s usually no way to inherently increase the value of an investment by 10x very quickly, unless it’s inherently risky.
So yes, you could possibly make $100,000 quickly in the investing world, but unless you have large sums of existing money to play with or insider information, you’re essentially gambling.
REAL ESTATE DEVELOPER:
“HOW WOULD YOU MAKE AN EXTRA $100,000 IN A MONTH?”:
We actually DID just make $100,000 extra with something we did last month.
Right now the market is hot and people are buying. We had some extra acreage at a development site, and figured there was room for 12 extra townhouses. Each would easily bring in between $150,000 and $200,000 each.
Building from ground-up is generally the riskiest investment we make, but we are almost guaranteed a 20% to 25% return. So assuming each townhouse sells for an average of $175,000 x 12 = $2,100,000.
$2,100,00 x 20% = $420,000 …..or $35,000 profit per townhouse.
Selling 3 of the townhomes pre-construction netted over $100,000 in profits for us.
SF TECH GUY:
“HOW WOULD YOU MAKE AN EXTRA $100,000 IN A MONTH?”:
Several ways:
1.) Go to people who have lots of web traffic, and sell your product through a co-hosted webinar.
2.) Bundle of software. Go to different companies, put together a bundle of products, offer a big discount, then promote it.
3.) Job recruiting. You get $10,000 referrals for developers. Recruit just 10 developers and you’ve hit $100,000 in referrals. You can find them on LinkedIn, Reddit, developer forums.
Cool huh?
Well now I want to hear your answers to:
How you would make an extra $100,000 in a month?
Answer in the comments!
Sincerely,
Neville Medhora – A Kurious Kopywriter
Interested in seeing how others would make different sums of money each month? Checkout everyone's answers for:- How would you make $100 in a month?
- How would you make $1,000 in a month?
- How would you make $10,000 in a month?
- How would you make $100,000 in a month?
- How would you make $1,000,000 in a month?
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