How to Make 1M $?
With minimal initial funding (ex: $10k)
How would you go about making 1 million dollars in a year ?
So you want 1,000% profit margin in a year? I assume you don't want to commit crimes.
No day traders will ever say that's possible. Even wallstreetbets doesn't expect those returns.
Fundraising with a sap story is a possibility.
Otherwise, the only option I can see is entrepreneurship. $10k to buy some deepfryers or bbq and some food and get selling. Or $10 to get a website going to sell something.
You can do it in minutes, in Las Vegas. Go to the roulette wheel, put all the money on [red/black]. Keep doubling down. Win 7 times (2^7=128).
If there was a legal way to do this, wouldn't we all be doing it?
Find an exploit in some blockchain co, steal $10M+ and then negotiate with them for a 'consulting fee' of $1M and return the rest.
Make a website with a 1000x1000 pixel grid and auction off each pixel in 24h time slots. Active owner of a pixel can set the color and link.
I belive that L Ron Hubbard said it best. "Start a religion".
If you want to be a millionaire, start with a billion dollars and launch a new airline.
-Richard Branson
"How to make a million dollars: First, get a million dollars.” – Steve Martin
If this question is serious, then it's a terrible way to think. What is "making" a million dollars? Revenue? Profit? Are you just leveraging $10k into loans? Is it investment money? Are you starting a company? Any of those things should lead to a long-term strategy of growth, not to a random, big-sounding target dollar-amount.
If this question is merely facetious, then the only appropriate answer is spend $10k on counterfeiting. The only sure-fire way to get 10,000% growth in a year is fraud.
100x return in 1 year is purely the domain of lotteries and scams. Even wildly successful investments or businesses still need 5-10 years to get these kinds of returns.
Too much cynics here. And from people that MUST know better, to bot.
You can do it this way:
- Invest that in make some software.
- That software sell very well.
Software is likely the easiest to pull. Also:
- Invest that in win a big contract to make software (for enterprise/goverment)
- Use the down-payment to (hopefully, right?) deliver on it.
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I work in this space, but more in the SMALL sector of it, and the major complication is not money, is to get into the kind of people that pay that sums. I almost win something like this, but the pandemic kick and all dried...
Make an original game app that lots of people like playing and bonus if they spend money on it.
Make a service that is just a conglomeration of other services under the hood, hire a ux designer to make it flashy and hip looking, charge monthly.
Trade options with insider information.
Invoice scam cash flush startups.
Easy. Just make $84k per month. You'll get to 1 mil in about a year.
Fairly risk-free way (well, compared to alternatives): invest $10K in interview prep, negotiation coaching etc. Get a FAANG job. Live frugally. In a few years you'll have your $1M.
Find a bank offering a certificate of deposit with a 10,000% interest rate.
Go to a roulette table, put it all on black. Repeat seven times.
I’d probably try to copy what someone did in the show “Undercover Billionaire”. Though I’m not that talented so I’d fail.
You would need skill, luck, and a strong work ethic. How would I go about it personally? I'd play poker online.
100x leveraged trading in just the right moment for just the right time :'D (JK)
Start a VC fund. Raise a 100mil fund and pay yourself 2 percent.
Become a viral politician
Don’t cut corners
Pay your taxes
Call your mother
Help a friend
Be yourself
Follow your passion
Don’t eat rare meat
Exercise