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+---- Thread: Marketing and why it sounds easy - How to make a million dollars. (/showthread.php?tid=5456719)
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Marketing and why it sounds easy - How to make a million dollars. - Mr. Robot - Nov 7, 2016
So the biggest issue is finding/creating a product/service that sells but here is some simple math for you to make a million dollars.
100 sales at $10,000 per item
1,000 sales at $1,000 per item
10,000 sales at $100 per item
100,000 sales at $10 per item
1,000,000 sales at $1 per item
Now average products/buyers you would aim for would be probably the 10,000 sales or the 100,000 sales.
If you are feeling brave, you could try market some services for $1,000 but keep in mind you need 1,000 customers and you have 365 days in a year - chances of finding/creating a $1,000 profit project and selling 3 per day is slim but can happen. Remember - this is all in 1 year.
Put that into perspective.
For the 10,000 sales - you are wanting to sell 1 product for $100 to 1 in every 750,000 people.
For the 100,000 sales - you are wanting to sell 1 product for $10 to 1 in every 75,000 people.
Those odds aren't too bad. Now remember, we are talking about making a million dollars and unless your product is free to make or service is free to run - then the profit amount is the above totals, not factoring in the maintenance or other costs.
So set a number you want to reach in your bank, and work out what you need to do to get there. The hardest part is of course coming up with the product.
- just a footnote.
$20 per product = 40,000 sales
$30 per product = 33,333 sales
$40 per product = 25,000 sales.
$50 per product = 20,000 sales
With a monthly subscription at 12 months - with $10 per month per person is 8,333 people and in 1 year you will have your million
With a monthly subscription at 12 months - with $20 per month per person is 4,166 people and in 1 year you will have your million.
I hope this thread has given you some hope to reach your dreams of becoming a millionaire. Someone on this forum is or will be a millionaire, I can almost guarantee it. If you only want to reach $500,000 you can halve all the numbers posted. If you only want to reach $250,000 you can halve them again.
Maybe someone will get some inspiration from this thread and it will open your eyes to how it could be done as once you find your price range, you might find your product.
* - Warbiest - Nov 7, 2016
You're not taking into account living expenses, taxes, manufacturing costs, wages, R&D and so on and so forth.
* - ryan⚜ - Nov 7, 2016
(Nov 7, 2016 03:42 AM)Warbeast Wrote: You're not taking into account living expenses, taxes, manufacturing costs, wages, R&D and so on and so forth.
Still, you earned 1 million therefore making you a millionaire.
* - problems.x - Nov 7, 2016
(Nov 7, 2016 03:42 AM)Warbeast Wrote: You're not taking into account living expenses, taxes, manufacturing costs, wages, R&D and so on and so forth.I agree, usually dealing with one million dollars you'll be required to register as some form of company/business, tax will take a huge cut on top of living expenses, whatever you do in your spare time, business expenses, etc.
* - Mr. Robot - Nov 7, 2016
(Nov 7, 2016 03:42 AM)Warbeast Wrote: You're not taking into account living expenses, taxes, manufacturing costs, wages, R&D and so on and so forth.
Oh yeah absolutely however if you are selling a service/product through bitcoin or similar, while working/schooling/living how you currently do - it can definitely be pure profit. While that makes things a little more difficult in choosing how you work this, it can be done.
I touched slightly on this being the "profit" side of things where I stated
Quote:Those odds aren't too bad. Now remember, we are talking about making a million dollars and unless your product is free to make or service is free to run - then the profit amount is the above totals, not factoring in the maintenance or other costs.
I think those who set a goal of an amount to reach, should definitely scale this to what they are after and work out how long it would take and what kind of costs they are looking at. If for example you are saving up for something - you can work out what you need to do to achieve that goal.
* - flawlessdev - Nov 7, 2016
Yo Mr Robot, my goal is to sell in average almost the same amount of 3 products (35,45 and 55 euro). I believe that almost everything sold should be invested in branding and marketing, at least, first 2-3 years. Do you agree? So finding average 1000pcs/year, that would be https://imgur.com/pUQKeeb
I am looking to scale this up to a few hundred thousand euros a year. And looking to invest 30k euro for the start. This is just a motivation for fellow readers and hope you find your ideas worth investing in :)
EDIT: It is official company, not the type of sh*t you are used to find here on the forums :)
* - Punisher - Nov 7, 2016
(Nov 7, 2016 03:27 AM)Mr. Robot Wrote: unless your product is free to make or service is free to run - then the profit amount is the above totals, not factoring in the maintenance or other costs.
The beauty of marketing is you don't even need to create a product to sell, someone else already has, you just need to market it for a profit.
Sell____ to someone for $10, purchase____ for $5 and deliver the product/service to them while walking away with no cost to yourself and a 100% profit.
This is a very well written topic, thank you for posting it
* - Mr. Robot - Nov 7, 2016
(Nov 7, 2016 03:51 AM)flawlessdev Wrote: Yo Mr Robot, my goal is to sell in average almost the same amount of 3 products (35,45 and 55 euro). I believe that almost everything sold should be invested in branding and marketing, at least, first 2-3 years. Do you agree? So finding average 1000pcs/year, that would be https://imgur.com/pUQKeeb
I am looking to scale this up to a few hundred thousand euros a year. And looking to invest 30k euro for the start. This is just a motivation for fellow readers and hope you find your ideas worth investing in :)
EDIT: It is official company, not the type of sh*t you are used to find here on the forums :)
I wish I had that kind of money mate. I needed this thread as much as the next guy - I am just as usual, using the forum as a place for back and forth on my shower thoughts. I appreciate your input mate.
(Nov 7, 2016 03:59 AM)Error Wrote: The beauty of marketing is you don't even need to create a product to sell, someone else already has, you just need to market it for a profit.
Sell____ to someone for $10, purchase____ for $5 and deliver the product/service to them while walking away with no cost to yourself and a 100% profit.
This is a very well written topic, thank you for posting it
Absolutely, people are doing this and selling ebooks on it but as usual, they never give you a product to actually sell :) I saw one guy make bank off selling cacti which was crazy.
Thanks for you kind words mate.
* - Mr Professor - Nov 7, 2016
Tai Lopez used this exact shit to becum millionaire.
* - flawlessdev - Nov 7, 2016
(Nov 7, 2016 04:02 AM)Mr. Robot Wrote: I wish I had that kind of money mate. I needed this thread as much as the next guy - I am just as usual, using the forum as a place for back and forth on my shower thoughts. I appreciate your input mate.
Absolutely, people are doing this and selling ebooks on it but as usual, they never give you a product to actually sell :) I saw one guy make bank off selling cacti which was crazy.
Thanks for you kind words mate.
Guys, it will always be easier to sell other's products, but the real challenge is manufacturing, branding and making something by yourself. Of course, the thing you are talking about is not any worse, but you get what I mean :)
By the way, one famous quote that got me started - Never depend on a single income. I tend to always invest micro bits (500-1000-1500$) in new opportunities, research, market etc. One last advice I will share with you - DO NOT FORCE IT - if you stop getting ideas, stop for a while, relax, just do not force it. Trust me (:
* - Caliban - Nov 7, 2016
Vouch for Mr.Robot i will become a millionaire in no time with that information!
* - Mr. Robot - Nov 7, 2016
(Nov 7, 2016 04:12 AM)Caliban Wrote: Vouch for Mr.Robot i will become a millionaire in no time with that information!
Lol well let's hope one day you will.
* - Tom Santana - Nov 7, 2016
(Nov 7, 2016 03:42 AM)Warbeast Wrote: You're not taking into account living expenses, taxes, manufacturing costs, wages, R&D and so on and so forth.
this
i thought exactly the same thing when i saw this thread, but positive thinking mate
* - cloudneuf - Nov 7, 2016
this thread is better than any marketing course I've taken.
* - newvibe - Nov 7, 2016
this is possibly one of the best HF threads out there!
great topic to discuss