What Is The Best Online Business To Make One Million Dollars In A Year?

What Is The Best Online Business To Make One Million Dollars In A Year?

There is no BEST way. There is only one way that is your way. Everyone has a different path to a million, each and everyone has their own strengths that they can cash out as a million.

Speaking of which, only for eCommerce you wouldn’t need that huge credibility to start with. The profit margins would be around 10% to 30% normally. So if you have some ad budget and you know how to whip up an eCommerce funnel – with some persistence and patience you can do a million in sales and take home about $50k to $200k in profit.

The second best way to make some quick cash is to be a consultant. And that doesn’t need any investment at all. Almost whatever you make would be pure profits, but you need to build credibility and need to have the credentials to be trusted as a consultant.

Many of the online millionaires are sales rich but profit poor. i.e. they sold a million worth of goods and probably made $50k or maybe even $300k. (There are exceptions of course, very few may have made higher profits than what I’m talking about here)

The common false perception these boasting online millionaires give is that it was too easy, they never talk about the failures they’ve had in the past, the chargebacks, the refunds they had from the $1 million they made, how much did they pay out to affiliates, and how much did their ads cost, how much was the affiliate manager’s commission. etc.

All they speak about is the million dollar sales they made.

You better come up with your own financial freedom number, which includes the amount required for you to pay-off your outstanding debt and live comfortably (with your current living conditions) for the next 5-10 years.

Then make it an aim to hit that in the next 90 days…

Then slowly move towards a million or $10 million.

President Obama just received a $350k paycheck every year for being the President of The United States… Not a million.

I’m not discouraging you in any way to not dream about the million. You should. But plan your path. And your path is unique, you can never be another person and make that kind of money. Be yourself.

Effective Time Management Strategies – Part 3

Effective Time Management Strategies – Part 3

This is part 3 of the series on time management strategies from Tony Robbins.

These time management strategies help you live a more fulfilled life because, in actuality, they’re much more than techniques for managing time — they’re also tools for transforming the way you think.

Maximizing your resources in life starts with the right mindset, and these time management techniques help you teach yourself to focus on what matters to you in order to live a more joyous, productive life.

Tip #1 was to use the Rapid Planning Method [RPM] from Tony Robbins.

Tip #2 was to Chunk You Tasks into sensible categories

Tip #3: Use your N.E.T. Time For Action

Tony Robbins explains that N.E.T. stands for No Extra Time. N.E.T. time is the hours we spend each week on what are essentially mindless chores like commuting, walking, exercising, running errands or cleaning the house. Instead of letting this time slip by, why not take action with N.E.T. time?

Take a look at the average time that is spent towards some of these “chores” as per BLS American Time Use Survey and U.S. Census Bureau:

– Commuting to work: ~110 hours per year
– Running Errands: ~275 hours per year
– Sports and Leisure: ~1920 hours per year
– Eating and Drinking: ~450 hours per year
– Watching Television: ~1011 hours per year

Surprised? It‘s true… Here are two steps that you can follow to maximize the use of this unused/wasted time:

Step 1: Create a list of websites to visit, podcasts to listen to, and action items you can clear off your list during those otherwise mentally idle moments.
Step 2: Pick up one of those tasks from the list the next time you have that mindless chore and let it run on the background or do it

The best part about using your N.E.T. time is that while you are commuting to work (or doing something else), you are also feeding your mind and improving your life.

You’re doubling what you’re putting into those hours, and the yield is exponentially greater.

Effective Time Management Strategies – Part 2

Effective Time Management Strategies – Part 2

These time management strategies help you live a more fulfilled life because, in actuality, they’re much more than techniques for managing time — they’re also tools for transforming the way you think.

Maximizing your resources in life starts with the right mindset, and these time management techniques help you teach yourself to focus on what matters to you in order to live a more joyous, productive life.

Tip #1 was mentioned in the previous blog.

It was to use the Rapid Planning Method [RPM] from Tony Robbins.

Tip #2: Chunk You Tasks Multitasking is the most inefficient thing you can do to yourself and to your goals and outcome.

Especially when you are doing complicated or unfamiliar tasks – because it takes extra time to shift mental gears every time a person switches between the two tasks.

But in reality that never happens. What Tony recommends is that you chunk the tasks that you do in your business.

You need to organize everything you want and need to do into categories that are manageable.

That way, even if you multi-task within that chunk you are not making a huge context switch.

Chunking tasks into categories are easier for your mind to handle, and they are aligned with your values, so you already know which tasks and goals are more important to accomplish first.

Step 1: Write down the “musts” for this week – the things that you have to get done.

Step 2: Examine the tasks for common themes. – e.g. Personal, Finances, Marketing, Management, Relationship etc.

Step 3: Once you have chunked them together, choose a time and day to do that particular chunk and do everything all at once.

Tip #3 is coming up in the next blog.

Effective Time Management Strategies – Part 1

Effective Time Management Strategies – Part 1

These time management strategies help you live a more fulfilled life because, in actuality, they’re much more than techniques for managing time — they’re also tools for transforming the way you think.

Maximizing your resources in life starts with the right mindset, and these time management techniques help you teach yourself to focus on what matters to you in order to live a more joyous, productive life.

Tip #1: Use the Rapid Planning Method [RPM]

Always before doing anything you need to plan your path. Just like how you would launch google maps and ask Google for the shortest route to your destination, you need to plan where you want to go, why you want to go, and how you are going to go in your life.

RPM Stands For:

– Results Oriented: What is the outcome that you’re after? Be specific, define your goal in terms of something concrete that you can measure.

– Purpose-driven: Why do you want to achieve that outcome? Why is achieving the outcome a must for you?

– Massive-action plan: What do you need to do in order to reach your outcome? Brainstorm all the ideas for actions that you could do and choose one to three tasks that you can do every day for the next year to achieve the outcome you want to achieve.

Tip #2 and Tip #3 would be added in the following weeks. Look out for those blogs.

Develop A Strong Mind for Peace and Happiness

Develop A Strong Mind for Peace and Happiness

Here‘s how to cultivate a mental attitude that will bring you Peace and Happiness as per the SECRETS OF SUCCESS – a list of Principles from How to Win Friends and Influence People book by Dale Carnegie.

  1. Fill your mind with thoughts of peace, courage, health, and hope.
  2. Never try to get even with your enemies.
  3. Expect ingratitude.
  4. Count your blessings — not your troubles.
  5. Do not imitate others.
  6. Try to profit from your losses.
  7. Create happiness for others.
Basic Techniques to Analyse and Stop Worrying

Basic Techniques to Analyse and Stop Worrying

Here‘s how to analyze your worries as per the SECRETS OF SUCCESS – a list of Principles from How to Win Friends and Influence People book by Dale Carnegie.

  1. Get all the facts.
  2. Weigh all the facts — then come to a decision.
  3. Once a decision is reached, act!
  4. Write out and answer the following questions:
    • What is the problem?
    • What are the causes of the problem?
    • What are the possible solutions?
    • What is the best possible solution?

And it‘s important to stop the habit of worrying taking over your life. So here‘s how to break the worry habit before it breaks you:

  1. Keep busy.
  2. Don’t fuss about trifles.
  3. Use the law of averages to outlaw your worries.
  4. Cooperate with the inevitable.
  5. Decide just how much anxiety a thing may be worth and refuse to give it more.
  6. Don’t worry about the past.
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