What is The Quickest Way To Make $1million? - Find Out Here!
The quickest way to make $1million is to find something to sell fast using the formula below:
Formula 1: find a highly demanded item, product, service or solution you can sell 1,000 of it to people at a profit margin of $1,000.
That will be = $1,000 x 1,000 = $1,000,000
Formula 2: find a highly demanded item, product, service or solution you can sell 10,000 of it to people at a profit margin of $100.
That will be = $100 x 10,000 = $1,000,000
Formula 3: find a highly demanded item, product, service or solution you can sell 100,000 of it to people at a profit margin of $10.
That will be = $10 x 100,000 = $1,000,000
Formula 4: find a highly demanded item, product, service or solution you can sell 1,000,000 of it to people at a profit margin of just $1.
That will be = $1 x 1,000,000 = $1,000,000
Now, let’s get down to business; how do you achieve this goal, or let me say, how do you apply these formulas?
Study your environment carefully, identify a pressing need that everybody has been complaining about, start a thorough research to find a solution to this pressing need of your immediate environment.
Develop a product based on the solution you discovered
Monetize your product by putting a worthy price on the product
Start a marketing plan to promote this product in order to get sales.
Scale up your sales using affiliate marketers.
Now, let us put these steps into practice and see how to execute them in real life, so follow me.
PRACTICAL IMPLEMENTATION 1
My name is Frank, I live in a city called Kozin, in my city, due to the nature of our food and lack of exercise, most women here tend to develop big tummy, especially those within the age range of 35 - 60, and this has led to so many relationship and marriage crises, as their men usually complain.
Haven observed this trend, I sit back and think of how to solve this problem in my community, so I began a search online. To my greatest surprise, there is this common leaf in my community that everyone ignores, but according to my research, this leaf is being used by some locals in another far away community to help women who just gave birth to flatten their tummy after birth. They boil this leaf with a clean water and add some other common herbs I know, and it forms a homemade concoction which they give to a woman that just came out of the labor room, and from what I learnt, it works by flushing out the blood and excess fat in the woman’s system, thereby helping her tummy to become flat, wow, I am excited to have found a solution to my community women’s problem. Next on my agenda is how to process this leaf into a more refined and acceptable solution my community women who are mostly, educated working class women will accept easily.
Finally, after much research, I am able to find a way to process and package this solution, so now, my next line of action is to try it out to see if it would work for my community women, so I visit a nearby gym club and register with them, remember, my main mission is to familiarize myself with the gym members in order to make it easy for me to market my newfound product to them.
During my few weeks membership with this gym club, I make lots of friends, one of them is Mrs Sally, a very lively mother of two, but guess what? Sally is not as happy as she appears outside; she is unhappy with her bulging tummy, which she confided in me one day, is gradually killing her marital sex life, as her husband complains always, and that is part of the reason she joined the gym club, hoping it would help her work on her tummy.
One day, I shared the news of my flat tummy solution with Sally, she was excited to give it a try, so I prepared one for her, and she began to take it, combined with some special abs exercise, and shockingly after 3 months, Sally’s tummy improved like magic, Sally couldn’t believe it, she was so thankful and full of joy, so I asked Sally for a favor; to act as a testifier in my new product promo video, of which she obliged, and we went to a studio to shoot a highly professional video. Sally even surprised me the more by bringing her excited husband along to the studio to share his worries back then when Sally used to have this bulging tummy, and this added flavor to my promo video because Sally’s husband is a highly respected, and successful real estate agent.
Sally did not stop there, she referred her friends, and also told other of our gym members about my wonderful product; through Sally alone, I got 15 sales even before the official launch of my product.
What next? Pricing….
Pricing your product.
Remember your financial target, so make sure you capture that in your product pricing, but don’t over price your product so that you can get sales easily, and don’t under price your product either. This is a whole new topic to talk about on a separate topic.
What next? Marketing, promotion and sales…
Marketing & Promotion
This is the most important department of every business, company or firm, so pay close attention to this part of your business if you want to succeed.
In order to promote and market my new product, I approach the owner of the gym center where my gym club is headquartered, and I introduce my product to the owner who felt skeptical about the efficacy of my solution, so I bring Sally as my testifier during our next meeting, and Sally convinced him that my product worked together with the gym exercise (this made him comfortable since he won’t lose his gym clients as a result of my product).
I and the gym owner agrees to partner; he asks me to give him a discount and put his company name as official distributor of the product; I obliged since I am just starting off. He incorporates my product into his gym guide and as part of the package offered to clients.
I don’t want to relax with this initial breakthrough, so I use part of the profit I have made so far to invest in building a powerful website for my product. I also create a complete exercise guide in an ebook format, which I sold to clients as part of my product package.
I invest in paid adverts on our local TV, and I am able to convince Sally to go with me to a live TV show where people phone in and ask questions. At the end of the TV show, I gave out my website where people can go to find my solution.
Through my website, people outside my community began to hear about my wonderful product, and they start sending in inquiries on how to get my solution, so I partner with a courier company to ease delivery of my product outside my local community.
Scaling up my sales through affiliate marketers
While researching for how to increase my product sales, I learnt about affiliate marketing, so I designed an affiliate marketing model to reward independent or freelance marketers who sell my product based on commission per sale.
I reached out to fitness bloggers, and got so may of them interested to market my product on commission.
Let me stop here for today.
I have just demonstrated one of many ways to create financial wealth from nothing, of which anybody anywhere in the world can do.
Want to discover more ways to increase your income and become financially rich? Then be a regular visitor of Frankwealth so you won’t miss any vital post here. I remain your best friend and mentor, Frank of Frankwealth Team.