Tim Peterson
New Contributor
- Joined
- Feb 21, 2019
- Messages
- 2
Rep Bank
$65
$65
User Power: 200%
I thought of collecting the top 5 most likely ways to make 1 million $ in profit a year as one person in 2021. Ranked by difficulty/skill-level needed ie. most likely for most to succeed.
So far i don't know any personally, that has done this, only many trying too but really doing the homerun. I have my own intuition on what would be a good way. See my suggestions below. I know alot of people that act like they are doing this put when you check their numbers it's never 1million a year (i'm in Scandinavia and company reports are public). Mostly they "own a job" and make around 100-200k a year working double hours than a normal good job in tech. Most small company owners i see have alot of turnover but little profit.
Hope you have some similar good ideas. Can adjust the list or come up with some even better ideas. Ideally we can conclude a final list as the threat evolve.
Ps. Please dont write the obvious like "it depends". Please no un-ethical ideas most people won't do anyways.
1. Shopify niche product the solve concrete issue and get most leads via google search.
Pro: Google search can get high traffic of issues many people search for.
Cons: Demands luck and outstanding creativity to come up with a truely unique product.
2. Online marketing agency - Biggest challange again get big high paying clients. They often have their own marketing departments.
Pro: It's simple most companies need it.
Cons: Because it's simple many lostcost workers flood the market. It's years of training to get an edge compare to industry standart.
3. Food delivery service
Pro: Leverage new demend from corona
Cons: Require many employees and start capital.
4. Online courses
Pro: Low cost, easy to start.
Cons: Require 10-20 years of expert knowledge and industry experience to be interesting for most.
5. Software developement agency(outsource most to asia/easteurope) - Biggest challange here is to get enough high paying clients, that are not eventually figure out all is done overseas. The good client again often have their own departments and prefer to get people on the payroll.
Pro: This skills will also get you a good paying job incase you fail. It common in the industry to pay developers high rates and shortage is people is known.
Cons: 3-5 yeas of dedicated study to understand software development (coding). East european contries are doing this in large scale already so you are just a middlman.
So far i don't know any personally, that has done this, only many trying too but really doing the homerun. I have my own intuition on what would be a good way. See my suggestions below. I know alot of people that act like they are doing this put when you check their numbers it's never 1million a year (i'm in Scandinavia and company reports are public). Mostly they "own a job" and make around 100-200k a year working double hours than a normal good job in tech. Most small company owners i see have alot of turnover but little profit.
Hope you have some similar good ideas. Can adjust the list or come up with some even better ideas. Ideally we can conclude a final list as the threat evolve.
Ps. Please dont write the obvious like "it depends". Please no un-ethical ideas most people won't do anyways.
1. Shopify niche product the solve concrete issue and get most leads via google search.
Pro: Google search can get high traffic of issues many people search for.
Cons: Demands luck and outstanding creativity to come up with a truely unique product.
2. Online marketing agency - Biggest challange again get big high paying clients. They often have their own marketing departments.
Pro: It's simple most companies need it.
Cons: Because it's simple many lostcost workers flood the market. It's years of training to get an edge compare to industry standart.
3. Food delivery service
Pro: Leverage new demend from corona
Cons: Require many employees and start capital.
4. Online courses
Pro: Low cost, easy to start.
Cons: Require 10-20 years of expert knowledge and industry experience to be interesting for most.
5. Software developement agency(outsource most to asia/easteurope) - Biggest challange here is to get enough high paying clients, that are not eventually figure out all is done overseas. The good client again often have their own departments and prefer to get people on the payroll.
Pro: This skills will also get you a good paying job incase you fail. It common in the industry to pay developers high rates and shortage is people is known.
Cons: 3-5 yeas of dedicated study to understand software development (coding). East european contries are doing this in large scale already so you are just a middlman.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
