Millions of Dollars

Let me set you straight.  I'm not a millionaire and I'm not going to pretend I fly high and throw stacks of cash around like you see in rap videos.  I will tell you that I aspire to make millions and I've read quite a bit on the subject of making real money.  I'm in the process of trying to create passive income streams and this article serves to tell you some of the principals I'm applying.

First thing you should know is millions of dollars aren't easy to come by.  There is no such thing as a get rich scheme.  Why not?  Because if there were such a thing, wouldn't everybody be doing it?  And if everybody were doing it, then the money wouldn't be there because of market equilibrium.  So if you're out there online searching for ways to get money fast, stop looking for the bright lights and pictures of expensive cars and start looking for methodology and techniques to duplicating your income over and over again because this is how you really pile up cash.

This isn't to say you will never make money fast because if you ever get rich, your bank account will start snowballing at some point.  I'm just trying to mainly steer you away from the websites that say come let us show you how to make millions online right now because those are always scams.  There are ways to earn income (and good money at that) on the web, but none of the legit ones claim to riches right away.

Okay, so let's dive in to my most important rule of how to become a millionaire and that is to find something that you can make money over and over and over again with.  The easier it is to make money, the better.  Same with the time it takes.  For example, you can make $9 at your current job over and over again for 40 hours a week until they fire you.  This is simply too slow to ever make you rich.  However, if you didn't have to be there and could perform your job 100 times over without incurring significant costs, you would make a ton of money.

As you can see, the faster and more easy to replicate the better.  This is why people start businesses: because they think they can create revenue at a process fast enough to sustain worthwhile money.  Think of restaurants.  Restaurant owners hope they can make a certain amount of money per plate, let's say $5 net profit.  This obviously is light years away from millions of dollars, but if they can serve 500 plates a day, that's $2,500 profit for one day.  Multiply this by 7 days a week at that's $17,500.  Over the course of the year, this could turn out to be a near million dollar operation ($910,000 if you're keeping track).  

The get rich thinker will try to multiply the process and open up another restaurant in a nearby town or start franchising out the restaurant to make money even faster.  As you can see, the millionaire mind doesn't need to be genius, it just needs to be business savvy.  

This type of million dollar strategy applies all over the map.  Think about the stock market.  People invest in several shares hopes of buying company stock at a bargain price and then flipping as soon as the price meets their satisfaction.  Early investors in the Apple company found their money exploding all over the place once Apple found it's footing.  What was once a dollar stock has tipped the scales at over $200 a share.  If you had held 500 shares from the late 1990s to now, you would be approximately 50x over your initial investment not counting for inflation.

Now you know about the process of repeating income and how multiplying revenue streams builds money.  The question becomes how do you make this happen?  The answer lies in having some combination of being innovative, smart, hard working, dedicated, and clever.  There's quite a bit of overlap there but I felt each word deserved inclusion.

In your quest to making millions of dollars, you're probably going to fail at some point.  Most people don't just have a million dollar idea in their first try.  However, the ones that continue probing and never relent sometimes do break through if they have the right stuff.