Did you know that every day there is someone who becomes a millionaire? Yes, you read that right. Every day millionaires are being made, have a look at Zippia. It will show you the exact figures and percentages, it will no doubt shock you. Currently, the number of people reaching that all-famous millionaire status is currently sitting at 1700 according to Nola and a study report done by Bloomberg.
Now, this figure isn’t what we think it is. They have stated that wealthy parents actually keep their children’s inheritance instead of dipping into the funds every now and then.
This of course is understandable because they have the means and resources necessary, and when they reach retirement age, that wealth is then passed on to their children. Keep in mind that when we talk of wealth and millionaires we aren’t referring to having a million dollars in cash but wealth that is found in net value of cash and assets.
Now this made us think, as The Dope Million, how can we help you, the micro business man achieve wealth and reach that millionaire status yourself? Take a look at the few options we’ve listed below. They may not make you a millionaire overnight, (unless you’re up for an inheritance like the 1700 we spoke about earlier) but they will definitely help add to your bank balance.
Investing is actually not as complicated as it sounds. You could decide to invest back into your own business in order to boost its growth, or you could try third-party investments with a small portion of your income to start with and increase that when you get more comfortable. The list of options you could consider is great, but Bankrate has some really great ones if you’re a beginner.
Generating a passive income through affiliate sales is another great option to make some extra money. There are so many companies that are willing to part with a percentage of their sales that are generated through third parties. Big Commerce gives you a breakdown of what affiliate marketing is, how you can get started, and where you can sign up.
When you team up with other companies for special events, they are most likely to advertise your business when they advertise their events. By doing this, you will be reaching a market that you never intended to which could very well lead to more sales, and of course more sales equals more income, and that in turn could take you a step closer to reaching your first million.
Amp Up Your Social Media Game
Using your social media to generate sales is what so many companies are doing, and honestly, it works! You just need to know exactly what your target market is, develop a strong marketing strategy and have the tools and resources necessary to get the best out of your social media. Addy and Mark have an array of options you can use to your advantage.
Whatever it is you decide to do, know that every step you take forward is taking you to your first million.
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