What does it take to be a millionaire? Plus a Week Recap!
Written by The Kid on December 16, 2007 
It’s all about the Benjamin’s baby, well it is and if you want to be a millionaire you better learn how to make some.
Not everyone is good at making a lot of money in one particular field, especially me, but what i am good at doing is learning a little about a lot. A long time ago i decided that i would rather be a generalist than a specialist. The reasoning you might ask is because as a generalist you can always hire specialists, but vice versa is not possible because you are the one who is being hired.
Why do it yourself?
As some of you may or may not know i am a brutal coder, in fact i basically can’t code. So who cares? Well not me, i hire someone to do that for me, as well as graphics, the only thing i do know how to do is market. That why i have a title of the blog i own, thats why i make money online, and thats why i can pretty much get most things i want in life.Marketing and Sales a match made in heaven
Why are marketing and sales so important, well in business it is the life blood of the company. You know what kind of companies go out of business? Companies that can’t sell, whether it is selling a specific message or whether it is selling a physical product, if you can’t sell you’re dead. Where does the marketing come into play? Marketing in my opinion is the process of getting the idea out there in peoples minds, sales is the final process of closing the deal, finalizing the paperwork and collecting the money, or even a girls phone number. The sooner you realize sales is life, the sooner you’re able to focus on what you want and to do and be able to go and get it.
So since it is almost January 1st i have a new years resolution, this years resolution will be to make a million dollars. Big goal huh?
Yes but big is important 
The reason big is important is because, guess what, say it’s next December and i have only reached 75% of my goal, am i gonna be disappointed? yes, am i going to be mad i only made 750k? no i am not.
Making a million bucks and what is required?
Well the reason i wrote about being a generalist in the begging of this post is because not all 1 million dollars will come from the net, i would be thrilled if it did, but realistically it probably wont. So what do you do to make a million dollars? All i can tell you is what i do, i run everything from arbitrage to content sites and affiliate marketing campaigns online. Offline i run a small business and i also trade stocks, and in 2oo8 will be dabbling in real estate, this way i find it a lot easier to make 1 million dollars. I’m not relying on only 1 source of income, I’m also not only relying on being the best in 1 particular field. If i am only the 10th, 100th or even 500th best person in any of these fields then i will be wealthier than i can imagine.
Numbers time
So lets break it down, the difference between working 5 days and 7 days is 48 hours, but unless you have a business that can be on autopilot there is not point working 7 days a week cause eventually you will fall apart, and you can have all the money in the world but if you don’t have your health/brain it’s not worth it.
1 million dollars in 5 days a week
$3787.88 day in day out, you make that everyday and you will be a millionaire.
1 million dollars in 7 days a week
$2739.73 day in day out, you make that everyday and you will be a millionaire.
Since the numbers are on a daily basis it makes the goal a lot more attainable.
Example breakdown.
Affiliate Marketing: $500/day
Arbitrage $300/day
Stocks(adjusted for weekends) $250/day
Offline Business $250/day
Content Site $100/day
Real Estate $100/day
That’s already $1500 a day, and that is with only 1 affiliate offer, 1 content site, 1 arbitrage site, scale and conquer. Think if you roll your stock and real estate gains and keep investing is it reasonable to think that using more money you are able to generate even more profits? I think so.
Once businesses whether it be online or offline are automated it’s just a process of cranking up the marketing dollars spent to increase your sales. Which again is the life blood of your company.
Becoming an online generalist
Here’s a couple posts i enjoyed this week
Linkbuilding - Seocracy - Free Viral Video Backlinks
SEO - The Basics of Search Engine Friendly Design & Development
PPC - Uberaffiliate Talks about Ringtones
Content - Dosh Dosh teaches us 16 websites we can make for profit.
Marketing - Dan Kennedy explains why multi month promo’s kick ass!
So how much are you going to make this year?
Sunday, December 16th, 2007 at 5:15 am and is filed under Make Money Online. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
“can always higher specialists”. I think you mean “hire specialists”.
nice post morgan . . . I’ve been setting smaller goals for each of my sites and other income sources to try and add them all together for the big picture goal of 2008!
so, how are you doing with your goal right now? are you making 10% of what you need to be making yet?
just wondering.
as for me,I don’t make any money was any online.
HAHA yes you are write i mean right haha, it was a 4am post so i was a little tired! Thanks tho
Yes i am making more than 10% of what i need to be, thats why it is now a scaling process, this is why i’m loving 2008! keep reading the blog and keep learning and you will make money online too!
Awesome dude, now time to crank up i told you at blogworld 08 is going to be the year =)
Cool post, you are right, but unfortunately it is the same as always. Affiliate marketing $500/day. Yeah, what you don’t say is how much you work to make $500/day from affiliate marketing, especially with one single site.
Awesome post…and easily your best to date! I would add consulting to the list (although I guess it’s probably already covered by offline business). Compared to a 9 to 5, consulting is way easier and pays much better if you can market/sell yourself. Keep up the good work and keep us posted by updating your numbers.
[...] great network of bloggers and entrepreneurs around me to keep me in line. I really look forward to diversifying my income sources and see the money fill up in my bank [...]
[...] so much is going on right now, life has been very very busy trying to get to my target income of $2739.73 a day. So what have i been working on? Well i’m not really a hype guy so i will keep that [...]