Do you have dreams of vacations, owning a home (or two), nice cars, debt free, working from where ever you desire to live? Or do you have simple dreams like paying off debt, saving or paying for your education or kids education, saving for retirement, or getting out of the job you hate?

People dream of making a little money online or better yet, making millions. It’s possible, and we’re here to give you several strategies for you to consider in your million dollar dream.

Consider the thought of having enough money for you to DECIDE HOW YOU WANT TO LIVE? What kind of mindset does a successful entrepreneur have over a regular person? It’s different; some people are so wired to think success, it’s downright amazing where others only consider the obstacles.

Click Here to Read Millionaires Mindset

As you read the rest of the article, some of our recommendations may not fit into your focus. Or some may be new concepts. Our advice, before you get frustrated with yourself (if you’re new to this), is to find the most natural path to start. At the end of the blog post, we’ll prioritize from easiest to hardest. No matter if you take the easiest versus the more difficult, you will need to invest at least a couple of hundred dollars for the first year to build a foundation. Some of these strategies will take more money.

Yes, if you’ve read somewhere that it’s easy to make a million dollars online overnight, you’ve misread. Just put it this way, no matter what type of business you’re in, creating a million dollars takes effort and time, but it should not be difficult. It’s a process, follow the process and results happen.

Are you ready? Let’s get showing you some ways to become a millionaire online.

Blogging with Product Recommendations

Blogging to make money

We would bet money that at some point in the last year, you’ve read a review of a product on a website that gives you a link to that product to buy. Maybe it’s a link to Amazon or some other website. Or here’s a simple one, perhaps you cooked a recipe, but you needed an ingredient. The recipe had a link to buy that item. You purchased.

Did you know you can get paid for directing traffic to a site the allows the visitor to purchase that product? That’s called Affiliate Marketing. But more specifically, it’s a blog writing about a subject the either directly recommends a product, or shows you the categories of a set of products to buy. Usually, the blog is directed explicitly toward a subject like paleo cooking, hiking in the northwest, fishing in Florida, parenting children, … you get the idea.

That specific subject is called a niche. Maybe you have a passion for an issue; perhaps it’s a hobby. Can you think of three hobbies you would love to write articles to inform your readers?

As you generate quality content specific to what people search for on Google or Bing, you start to show up on people’s search results. If that person clicks on the link to go to your page, they may click on your link to a product. At that time, you’ll get paid a commission.

How do I become a millionaire online with this strategy?

  • To generate millions, you need plenty of traffic. But the key for this strategy to work is you need to write, write, write, and once you get tired, write again. You need content and relavent content.

How long will it take me to become a millionaire?

  • It may never happen, but it’s possible. Here’s a couple of options.
    • Do several websites. For instance, if you create five websites over the course of 3 years that averaging  $10,000 monthly income that equals $600,000 annually.
  • But continuing to invest in your specific site can start to compound over time.
  • Plan on 3-5 years if you can generate 2-3 post a week.

What’s the biggest challenge?

  • Giving up too early. People get frustrated because they see a lot of effort over 3-6 months with very, if any return. People give up, they stop writing and call it quits. But that’s when it starts getting good. Maybe it takes one year to generate any revenue. That’s faster than most software start-ups. But the biggest challenge we notice, people can’t get past the lonely start as we call it – when no one sees your blog. But go to the mindset article we referred to early. If you knew it would pay off, why aren’t you doing it?

Blogging/News with Corporate Sponsorships

Have ever read an educational or news blog that focuses on an industry subject like Green Energy, Software News, Product Development, Latest Events, Local Car Reviews … something like that. Then in the big banners that have big companies sponsoring posts or just advertising. When you have a specific niche, like the idea above and you start to become an “expert” at reporting news and articles on business subjects, you have an opportunity to get companies to pay you because they want to associate to your blog. It happens a lot, and you can make big money. But here’s the key to success, you need to network and get your name out there as a source of education and truth. The technique doesn’t just involve writing quality content, but you need to network with influential people and companies.

Let’s give you a scenario. Say you write a blog on the subject of Clean Water. You write genuine articles on the news in the industry. You write about legislation in the works or how to improve clean water. Or the safety issues surrounding a growing concern. At the same time, you start to reach out to local business, big and small (don’t be afraid to reach out to the top of a fortune 500 company). You establish yourself as the expert source through networking and reaching out.

Over time, you developed a relationship and asked for sponsorships. Those companies then pay you $5,000; $10,000; $25,000+ a month to sponsor your site and have you advertise their brand name. It’s brand recognition at this point associated with a website that’s getting real traffic and becoming a source of expertise.

How do I become a millionaire online with this strategy?

  • To generate millions, you need plenty of traffic. You still need to write news quality content. But you need to network and network with executives and business owners. We also recommend building a LinkedIn Group to generate quality news articles and become the expert.

How long will it take me to become a millionaire?

  • Get comfortable; it could take anywhere from 3-5+ years to generate the income to be millions a year. If you put the effort and take the career seriously, you may even get invited to speak at conferences.

What’s the biggest challenge?

  • Not networking and just writing content. If you aren’t interested in reaching out to people to interview, you won’t be considered an expert. You need people for the strategy to work. When you ask for sponsorship, those are the people that are willing to write the big checks.

Affiliate Marketing

Affiliate Marketing

Remember when we told you about affiliate marketing. You get paid when you send traffic to another website that you’re promoting. If that customer buys something through your affiliate link (your unique identifier), you get paid a percentage of the sale. You can do that through blogging, but you can also do that through a few different ways to promote an affiliate link. Here are a few ideas.

  • Specific blogging about that particular product
  • Email capture and promotion
  • Microsites that promote a specific product that you advertise to sell

We prefer blogging about content and promotion through the indirect discussions of your website. If you create microsites, you need to be careful about how you advertise. Google and Bing don’t like your advertising to go through a link to an affiliate site directly. They have become more and more strict over time for people promoting other peoples products that only promate a direct affiliate link. If you are intersted in doing that, read the email marketing below then use a combination of email and affilate links. Your best bet is to capture  create a microsite that gives something away, then promote through email marketing. There is a formula for that which works, but we can discuss later in the post.

How do I become a millionaire online with this strategy?

  • Again, content, content, content. You can become a millionaire by making sure you’re promoting products that have a high conversion and high commission rate. We also recommend promoting products that have recurring revenue. Recurring revenue compounds over time and the more sales you generate. For example, if you make 1,000 sales every month to a new customer, you will make more over the course of the year with a cheaper product that has recurring revenue. Here’s the scenario.
    • One-time sales: 1,000 new sales at $50 for 12 months = $600,000
    • Recurring Revenue: 1,000 new sales at $10 per month recurring revenue over 12 months = $780,000. If you don’t sell any more for six months and don’t lose any customers, you still could make $720,000 for the following six months. Hopefully, the math shows you that recurring billing for affiliate companies is more attractive to the sale and gets you to the millionaire status faster.

How long will it take me to become a millionaire?

  • There is no guarantee at all, and it always takes longer than you want. You should plan at least 2-3 years of consistent work to generate significant dollars if you’re focused. You’ll learn a lot, you’ll fail a bunch, but you most likely see results.

What’s the biggest challenge?

  • Stopping in the first year. People give up way too quickly.
  • People think that everyone will immediately want to go to your website and purchase from you. That doesn’t happen. It takes time, it takes changes and learning, and it takes consistent, none stop working.

Sell Your Product

We’ll keep this simple. If you have a product that you own, you can do any of the above strategies, but make more money. Here are a few examples.

  • You develop your own “How to guide”
  • You develop a tutorial you can sale
  • You develop a private “expert” group that people have to pay to join

You do the same as above, but you sell your product directly. Now, remember when we spoke about microsites and how search engines like Google and Bing frown on you are trying to advertise that just link through an affiliate? If you sell your product, you can advertise directly.

In addition, if you have your product, once you start showing success you can create your own affiliate for others to sell your product.

How do I become a millionaire online with this strategy?

  • You need a product that solves a problem that customers want to pay you to answer. Do the research. Here’s an excellent way to find a Niche, Read: How to Find My Niche. But yes, you can build a product, tutorial, or anything that is valued and priced right.
  • Once you have a product, you can drive traffic through email markeintg and setting up your own affiliate network.

How long will it take me to become a millionaire?

  • There is no guarantee at all, and it always takes longer than you want. You should plan at least 2-3 years of consistent work to generate significant dollars if you’re focused. You’ll learn a lot, you’ll fail a bunch, but you most likely see results.
  • Building a quality product could take at least six months. (Same as above)

What’s the biggest challenge?

  • The biggest challenge here is building a product that people want. You need to spend the effort to investigate what people need and are willing to buy. Here’s a tip: Find products that sell right now. Mock that product, meaning do not copy, but use it as a formula. For example, if you find a podcast tutorial that seems to sales well, and you’re know how to do that well, then create a podcast tutorial. Don’t over think the product uniqueness. Unless you do have something unique.

Making Money with AdWords

Google and Bing have a service that allows those companies to post advertising on your website. It could be banners across the header, throughout the post, side widget, or any place. It works by allowing the search engine to scan your site and place ads that may align with your readers’ desires.

Once a reader clicks on a link, you’re paid based on clicks. You don’t even have to sell anything, click on the links. The service will pay you a few cents to a few dollars. Because it’s not based upon selling, but based on clicks, it’s less work for you.

How do I become a millionaire online with this strategy?

  • You need ALOT of traffic. We mean, serious amounts of traffic. A couple of strategies for that is to develop content, content, content to drive traffic. Or a lot of sites directed at specific keywords that help you drive traffic as well. Over time, you can make decent money. But honestly, think of AdWords as merely a nice addition to an already money making site.

How long will it take me to become a millionaire?

  • The Adwords strategy, we’re going, to be honest with you, will probably not be an excellent single strategy for becoming a millionaire. It’s best to use this as an addition to your already focused revenue stream.

What’s the biggest challenge?

  • Thinking you’re going to become a millionaire for Adwords.

Software as a Service

What is a software as a service company (Saas)? It is a company that sells their software as a service through a monthly fee. It provides a service. Here are a few examples: Salesforce.com, Grammarly, Office365. These are big companies, but there are plenty of companies that are small like goalsetting services to dog scheduling services. When you do not deliver a physical product, but give the user access to the software service, you have a Saas platform.

These are great revenue streams, and you can become a millionaire when done successfully. Here are some considerations.

  • Building a sophisticated service, takes time, money, and a team.
  • You still need to do market research
  • You may need investment because you won’t have positive cashflow to cover your initial costs
  • It is a business, and you need to think beyond yourself selling products, but a company selling a service

How do I become a millionaire online with this strategy?

  • Go back to the affiliate marketing section that we listed out the recurring revenue income revenue. That’s how you make money; you charge your customers a recurring monthly fee or some other mix of a subscription amount.
  • What we like to tell future entrepreneurs, get the traffic or customers first, then determine the need, and next, create a product around that need. For example, if you write a blog on teaching music, maybe you develop a software service that helps people learn based on a subscription service. But you determine that after you find that people have a need, visit your website, then develop.

How long will it take me to become a millionaire?

  • We like to recommend people that if you do it right, you could have a million dollar business in a few years, but plan on 3-5 years. It takes time to develop the product. If you build something very complex, it could take 5-10 years. But you can become very rich from a successful Saas company.

What’s the biggest challenge?

  • Your expenses versus revenue. Many Saas companies need software developers, and the cost of hiring is more than you could make in revenue from your customers (initially). That’s when you need to consider investors. We’ve raised money before, it’s work, and it can be amazing and horrible. Or a little bit of both.

Data Aggregator

Data Aggregator

What is a data aggregator? Well, there a lot of information that specific companies have or there is a website out there that has some information. A data aggregator is a company that takes data from a variety of sources, brings it together and delivers either a single source of information or more valuable insight.

Here are a few examples:

  • Mint.com – they collect all your financial information (with your permission of course) and show you a budget
  • Coupon.com – they find coupons that they consolidate into one location
  • Indeed.com – the gather all the jobs together, so you search for a job in a single location

Data aggregators help people find something in a single location with the information that was spread across other sites.

How do I become a millionaire online with this strategy?

  • There are a few ways; you could charge a subscription (Saas), charge a per search charge, make money through affiliates or sponsorships (Yes, if you have a lot of data, corporate sponsors will pay big)

How long will it take me to become a millionaire?

  • You should plan at least three years. Here’s why, it’s going to take you some time, probably a year to develop the solution to gather the information. Then another year to get the customers, and the final year will be where the income grows.

What’s the biggest challenge?

  • Finding the data and determining the need. If you’re not technical at all, you need someone that can build software. There aren’t WordPress plugins, but there are some platforms that can help accelerate putting these together. If you’re technical, that’s going to give you a head start – we’re talking about software developer technical.
  • Spend the time to determine the need for first and the competition. We love competition, and we’re not afraid of it, but if the dominant player owns the market, it makes take you a while longer.

Email Marketing

Please enter your email here for a free thingy. – Said by websites everywhere.

We believe we that email marketing works. It’s an essential part of building relationships with your customers. But, it should be taken seriously, not as spam. Email marketing sometimes can be considered harmful because negative email marketers don’t consider it about the relationship. We wrote a great article about email marketing.

Read: Email Marketing

How do I become a millionaire online with this strategy?

  • Email marketing can a very lucrative way of making money. But to do it right, we recommend building a product that you can control. The way you do it is by having four items.
    • A cheap, or free value based giveaway to get the persons email
    • A base product that is high value, but inexpensive
    • A free upgrade that you give away
    • High-end product or premium product that generates the real income
  • Make sure to read the email marketing link from above

How long will it take me to become a millionaire?

  • Let’s be realistic; it could take you 2-3 years. You need to develop the products in the first year than another 3-6 months to build the email flow, test it, and optimize. Finally, it takes you a few months to launch the product.

What’s the biggest challenge?

  • Patience and not rushing into the sale process

Sell Your Website

Email Marketing

Did you know you may be able to sell your website for a million dollars? Or a few websites for a million dollars. Once you start getting traffic, selling a product or products, you can get multiples on revenue or cash flow. Companies like Flippa and WebsiteClosers are brokers to help you sell your website. Let’s say you’re starting to generate revenue. Let’s do the numbers. Say you’re making about $300,000 of cash flow from your business. We know, that would be amazing! If you go to WebsiteClosers, some sites generate the cash flow that is on sale for $1,300,000 or more.

Of course the next question you may be asking, why would anyone pay $1.3 million for a website. Let’s consider this valuation in purchase price versus income. Imagine a website that is generating $300,000 in cashflow. If someone purchases that website for $1.3 million and the website grows 20% annually. In a 10 year period, you would pay the $1.3 and after year 5 recoup your investment, but after 10 years would have made close to 5 million dollars after recouping the initial investment. Not a bad investment if you have the money.

The key takeaway isn’t to buy a site, but honestly consider that your site may be worth a million. Then you repeat the enter process buy you have a nice bit of cash in the bank.

How do I become a millionaire online with this strategy?

  • You sell your site after you prove that you can make money with it. Review the two websites we share above. Search for websites that are selling for over $1m. And quick frankly, copy their business model.

How long will it take me to become a millionaire?

  • Depending on your strategy, we’ve seen sites go for over a million and most are at least three years old.

What’s the biggest challenge?

  • As silly as this remark may be for some, the biggest challenge we notice is people overvaluing their site. People work hard on their business, they start to make money, then feel their “baby” is worth so much more than it’s valued. Just make sure that when or if you start, do your research and be entirely sure you will be ready to let go of all your hard work. But remember this point, if you get paid over $1 million for your website, take another couple of years and repeat the same formula, but use some of that cash to accelerate the process.

Conclusion

Wow, that’s a lot of ways that we helped answer the question: how to become a million dollars online. We are excited to share with you real ways to make it happen. As promised, here are the ones we believe to be the easiest to hardest based and a quick explanation.

  • Blogging with Product Recommendations: You don’t need much more than your hard work
  • Affiliate Marketing: Same as above
  • Sell Your Product: You need hard work and an idea
  • Making Money with AdWords: You need at least one of the above
  • Email Marketing: You need a product
  • Sell Your Website: You need any of the above
  • Blogging/News with Corporate Sponsorships: You need a network and content
  • Data Aggregator: Actually, it’s one of our favorites, but you need to be technical expertise and probably outside investment
  • Software as a Service: Unless you have a product from above that you can sell as a service, you’ll need investment and all the things that go with it.


We love to hear your thoughts. Write a comment below with your ideas or the idea you feel matches with how you want to become a millionaire online. Comment if you have questions, we reply.