You want to become a millionaire,here is the secret formula

so98nn

hero member

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Last time I checked only the person who got couple of millions by selling a product was Mr. Walter White from Breaking Bad series. Lolz. Tongue

I wish getting a million would been that much easy, but its not. Of course this topic can be discussed with million angles! I mean what are you selling, how you producing it, what is outreach in terms of population etc.
Even a small scale business needs huge funds to be thrown in the marketing chain to grab some business and earn break even value! When the business name gets recongnised in the market then they actually start earning their first buck and then thousands, then millions.

But your formula, great, it's imaginary and not doable in reality. Cheesy

JuSayCo

jr. member

Activity: 112

Merit: 3

Wow! That was indeed an awesome formula on how to become a millionaire. But, I find it so confusing. For me, the real secret formula of becoming a millionaire is being smart, perseverance and hardwork. I believe when we have all this, we can all be millionaires one day. Success can be determined by striving so hard and being so wise in all the tasks that we are going to take as we travel along in each journey that we had.

pealr12

hero member

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The secret to become a millionaire is hardwork, learn to save and not buying the things that are not important in your business and lastly you should have patience.

Naida_BR

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Quote from: spy100 on August 12, 2020, 08:36:37 AM

Sell 1 million products at $1 a piece
Sell 100000 products at $10 a piece
Sell 10000 products at $100 a piece
Sell 1000 products at $1000 a piece
Sell 100 products at $10000 a piece
Sell 10 products at $100000 a piece
Sell 1 product at $1000000 a piece

Simple and easy Grin

Can you guess why it is so hard to make your first million ?

The difficulty there is to make the sell even if this is at 1$ or $100000.
We don't have the skill to persuade people and make them believe they are in need for this product that we sell.
It is difficult to make a million in practice. In theory it is very simple and easy...

Restmand

sr. member

Activity: 979

Merit: 258

Quote from: spy100 on August 12, 2020, 08:36:37 AM

Sell 1 million products at $1 a piece
Sell 100000 products at $10 a piece
Sell 10000 products at $100 a piece
Sell 1000 products at $1000 a piece
Sell 100 products at $10000 a piece
Sell 10 products at $100000 a piece
Sell 1 product at $1000000 a piece

Simple and easy Grin

Can you guess why it is so hard to make your first million ?

Its easy to say that but its very hard to do especially if we have many obligations in life. Each of us have our own priority in life, money, health education, shelter. That is good idea but there are things to be considered first and wow its hard to sell 100000 products at 10 a piece. Maybe someone can get that in other ways trading, investing high potential coins and saving some profits little by little.

mindrust

legendary

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Quote from: iv4n on August 18, 2020, 05:42:33 AM

And now we came to the point where you need to have knowledge about what you are planning to do. As I said you can buy/sell goods or crypto, and it will depend on your capital and skills.
Verge is anonymous crypto, its from before 2015 and until now verge is 9000% ROI (check any ranking site). To not get into verge as the project too much, what's important here is that some people value privacy and anonymity and they will buy more verge and they will use it as long as they provide this two.
The same is with socks, you need to offer socks to the people who need it (people in northern parts are need it more than people who live entire year under the sun). What I wish to say is that you need to recognise the peoples need and to offer them exactly that, doesn't matter what you are buying or selling, knowning the market is the key for long run success.

Sorry, I'd rather invest in socks than investing in Verge and that's pretty much how I think about shitcoins.

To plan your business you don't need more knowledge than what you learned in college. All you need is basic understanding of how a trade works...

Sure you can make fat bucks by investing in shitcoins, that's the definition of gambling for me and I am not interested in it.

iv4n

legendary

Activity: 3332

Merit: 1191

Quote from: mindrust on August 18, 2020, 03:45:42 AM

Quote from: iv4n on August 18, 2020, 12:39:30 AM

Snip

The idea is more or less the same. "Buy low, sell high" Except, most crypto currencies have no intrinsic value, no network... basically all they got is speculation.

A key ring has an intrinsic value. Socks have intrinsic value too. What kind of intrinsic value does Verge have?

I cannot be sure if somebody will need Verge in the future for any reason, but I know people will need socks because we like to keep our feet warm.

And now we came to the point where you need to have knowledge about what you are planning to do. As I said you can buy/sell goods or crypto, and it will depend on your capital and skills.
Verge is anonymous crypto, its from before 2015 and until now verge is 9000% ROI (check any ranking site). To not get into verge as the project too much, what's important here is that some people value privacy and anonymity and they will buy more verge and they will use it as long as they provide this two.
The same is with socks, you need to offer socks to the people who need it (people in northern parts are need it more than people who live entire year under the sun). What I wish to say is that you need to recognise the peoples need and to offer them exactly that, doesn't matter what you are buying or selling, knowning the market is the key for long run success.

Chrystora123

full member

Activity: 1414

Merit: 228

Omicron is another FUD

Quote from: spy100 on August 12, 2020, 08:36:37 AM

snip..

a sensible concept.. I've also been to a business seminar and the speaker said the same thing like this. the hardest part of doing the above is finding what good or service works for us (self)..

deisik

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Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: Harriti on August 18, 2020, 12:47:31 AM

In theory it is very easy but in reality it is a different story. If you want to sell a product for $ 1 million a piece, the product value should be about the same. We won't be able to do it right away because we don't have the capital. Letting you 1 million items for $ 1 each is a long way and it consumes a lot of our costs and efforts. It also depends on luck and there are too many problems to be a millionaire

Did anyone mention competition yet?

For every item in the list posted, there are million other people doing essentially the same in a million different ways. And they are most certainly doing that more effectively and efficiently that a newcomer would do simply because they were in the game and competing with each other for quite some time. And many wannabe millionaires eventually ended up in debt instead of becoming rich and wealthy

mindrust

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Merit: 2442

Quote from: iv4n on August 18, 2020, 12:39:30 AM

It's like ideal trade, you buy for 1 and sell for double, are we talking about crypto here? It's easier to do it with crypto than with anything else, at least you are sitting at home, you don't have expenses like you can have with any physical goods. There's only one thing you need to have, $500k to buy and to wait the price to double!
Time frame and chances to become a millionaire will always depend on your starting capital, along with your skills of course. With more money you can take less risky investments, you have a wider range of possible investments, and of course you can make more profit in shorter time period.

The idea is more or less the same. "Buy low, sell high" Except, most crypto currencies have no intrinsic value, no network... basically all they got is speculation.

A key ring has an intrinsic value. Socks have intrinsic value too. What kind of intrinsic value does Verge have?

I cannot be sure if somebody will need Verge in the future for any reason, but I know people will need socks because we like to keep our feet warm.

giammangiato

legendary

Activity: 1862

Merit: 1327

Quote from: spy100 on August 12, 2020, 08:36:37 AM

Sell 1 million products at $1 a piece
Sell 100000 products at $10 a piece
Sell 10000 products at $100 a piece
Sell 1000 products at $1000 a piece
Sell 100 products at $10000 a piece
Sell 10 products at $100000 a piece
Sell 1 product at $1000000 a piece

Simple and easy Grin

Can you guess why it is so hard to make your first million ?

The formula is very easy, the real problem is to find a way to sell and the most important thing is the right product/service. Something never seen or with an high quality and performance. This is the formula behind your!

Harriti

sr. member

Activity: 756

Merit: 256

HEX: Longer pays better

In theory it is very easy but in reality it is a different story. If you want to sell a product for $ 1 million a piece, the product value should be about the same. We won't be able to do it right away because we don't have the capital. Letting you 1 million items for $ 1 each is a long way and it consumes a lot of our costs and efforts. It also depends on luck and there are too many problems to be a millionaire.

iv4n

legendary

Activity: 3332

Merit: 1191

Quote from: mindrust on August 17, 2020, 03:06:54 PM

Quote from: iv4n on August 17, 2020, 09:09:48 AM

And where you're going to find those stickers, bracelets, key rings... you need to buy them or you can produce them (and do you have a machine for that or you will do it manually)?! It's not so easy as the OP said, you need to find products and you need to find a way to sell them. And it's never just buying and selling, you need a transport, storage, place to sell them… to many factors to consider, if it's easy to do it everyone would do it!

You can buy them directly from the seller for $1 or whatever price you find. Add your cut, re-sell. "Good old buy low sell high." Since the price of the products are already dirt cheap, nobody will give a damn if you buy them for $1 and re-sell for $2.

I know it is not an easy thing to pull at the beginning especially, and you probably won't become a millionaire in a reasonable time frame unless you are also a google/seo expert but it is a start.

Every business you do is a lottery ticket to become a millionaire in the end.

It's like ideal trade, you buy for 1 and sell for double, are we talking about crypto here? It's easier to do it with crypto than with anything else, at least you are sitting at home, you don't have expenses like you can have with any physical goods. There's only one thing you need to have, $500k to buy and to wait the price to double!
Time frame and chances to become a millionaire will always depend on your starting capital, along with your skills of course. With more money you can take less risky investments, you have a wider range of possible investments, and of course you can make more profit in shorter time period.

coinfinger

sr. member

Activity: 1638

Merit: 278

Quote from: bitbunnny on August 16, 2020, 01:26:44 PM

There is no secret formula how to become millionare. Nothing in this world doesn't come easy and over night, for everything you need to.work very hard and have a bit of luck too. So, don't trust to those who will tell you they have some formulas and receipes, they usualy just try to get money out of your pocket.

Though you are right but he is not selling anything and not trying to make profits out of you. I believe you read the thread and you should know that selling your product repeatedly is what the OP advised which actually costs nothing or no way someone is trying to make money from you by fooling you.

Coming back the topic, I think that selling a product or service that costs higher is better and actually you also need to understand the market you are working in because there are various types of market.

You think of Chinese products and they work on quantity while if you analyse iPhone they work for quality and make profits that ways. So it depends on what market you are in and hence pick the correct strategy because not always selling cheap is the best idea as sometimes you can make your product as prime and target rich audience.

mindrust

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Quote from: iv4n on August 17, 2020, 09:09:48 AM

And where you're going to find those stickers, bracelets, key rings... you need to buy them or you can produce them (and do you have a machine for that or you will do it manually)?! It's not so easy as the OP said, you need to find products and you need to find a way to sell them. And it's never just buying and selling, you need a transport, storage, place to sell them… to many factors to consider, if it's easy to do it everyone would do it!

You can buy them directly from the seller for $1 or whatever price you find. Add your cut, re-sell. "Good old buy low sell high." Since the price of the products are already dirt cheap, nobody will give a damn if you buy them for $1 and re-sell for $2.

I know it is not an easy thing to pull at the beginning especially, and you probably won't become a millionaire in a reasonable time frame unless you are also a google/seo expert but it is a start.

Every business you do is a lottery ticket to become a millionaire in the end.

lixer

hero member

Activity: 2688

Merit: 588

While it sounds easy to sell 1million piece of a particular thing and make a million dollar but actually there are 2 problems which are being overlooked here:

1- Cost is not the profit, that means if you are going to sell your items for $1 that means it must have also costed some money to prepare the item and hence your cost of selling the product is not the entire profit for you. A part of the cost will go towards next development and a part might go towards stability.

2- A million sales, is not as easy as it might sound because no matter how good you are at marketing and how active you remain but selling that large of a quantity requires some sort of affiliate marketing, like most companies find affiliates to sell their product which is effective but reduces the profits you are expecting.

Funny topic, I might have got a bit serious Shocked

.

Suguha

member

Activity: 218

Merit: 10

Quote from: spy100 on August 12, 2020, 08:36:37 AM

Sell 1 million products at $1 a piece
Sell 100000 products at $10 a piece
Sell 10000 products at $100 a piece
Sell 1000 products at $1000 a piece
Sell 100 products at $10000 a piece
Sell 10 products at $100000 a piece
Sell 1 product at $1000000 a piece

Simple and easy Grin

Can you guess why it is so hard to make your first million ?

I think it would not be that easy because even I have a hundreds of products that has a million dollar price, I can't be so sure that I sell all of them and earn millions of dollar within a day. Earning money is not that easy, that is why it is very hard to be a millionaire because it takes time for you earn good profit in your business.

iv4n

legendary

Activity: 3332

Merit: 1191

Ask 1 million people to send you a dollar and you will have your million without selling anything! As I know it's already done in the past, and if worked before it will work again!

Quote from: mindrust on August 17, 2020, 06:53:07 AM

Quote from: lienfaye on August 17, 2020, 06:48:04 AM

What kind of product is worth $1?

Stickers, toys, bracelets, key rings, socks, hair bands, earrings... There are a lot actually.

And where you're going to find those stickers, bracelets, key rings... you need to buy them or you can produce them (and do you have a machine for that or you will do it manually)?! It's not so easy as the OP said, you need to find products and you need to find a way to sell them. And it's never just buying and selling, you need a transport, storage, place to sell them… to many factors to consider, if it's easy to do it everyone would do it!

mindrust

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Merit: 2442

Quote from: lienfaye on August 17, 2020, 06:48:04 AM

What kind of product is worth $1?

Stickers, toys, bracelets, key rings, socks, hair bands, earrings... There are a lot actually.

Kakmakr

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Merit: 1965

Leading Crypto Sports Betting & Casino Platform

Quote from: spy100 on August 12, 2020, 08:36:37 AM

Sell 1 million products at $1 a piece
Sell 100000 products at $10 a piece
Sell 10000 products at $100 a piece
Sell 1000 products at $1000 a piece
Sell 100 products at $10000 a piece
Sell 10 products at $100000 a piece
Sell 1 product at $1000000 a piece

Simple and easy Grin

Can you guess why it is so hard to make your first million ?

Ok, let's assume you are selling one of those $100 products. Did you subtract the manufacturing cost and the delivery cost? How are you advertising that product? (Online or pamphlets or Door to Door? ....because all of that has cost too) Roll Eyes

Also, remember... if this is your only source of income, then you have to spend most of that on daily expenses and that eat into your profits.

Your strategy is seriously flawed.. A more realistic scenario would be to sell 10 000 products at $1000 and after expenses you might be able to save $100 towards your goal of being a Millionaire. Roll Eyes

Also, the money in the Bank will earn interest, so you might achieve that goal quicker if you invest it with Compound interest. Wink

Most families can save $100 a week if they stop buying junk food at McDonalds and KFC and eat Healthy alternatives and then build up a nice nest egg for the future... but that takes discipline and unfortunately not a lot of people have that. Roll Eyes

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