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Last Updated on December 22, 2020

How To Make a Million Dollars in 7 Steps

How To Make a Million Dollars in 7 Steps

Making a million dollars is no easy task. To be honest, it’s one that shouldn’t even be thought about unless you are okay with being more disciplined than a navy seal for at least three years. Flirting with the idea will get you nowhere, starting the idea will get you frustrated, and going half-ass will just leave you more frustrated than when you started.

So, if you are ready to commit to discipline, laser focus, and more ups and downs than a roller coaster at Disney World, then let’s get it.

1. Pick a Niche

This is by far the most important of the entire process on how to make a million dollars. This niche must meet some crucial criteria.

Let’s go over some of these requirements:

  1. It must have no cap for income.
  2. It has to be something that can be scaled at a high level.
  3. You must be an expert in this field (or willing to become one).

I am personally writing this under the assumption that you will be doing this full time or be able to dedicate 30+ hours a week to this hustle.

Here are some ideas:

  • Private Label Products on Amazon
  • Dropshipping on Shopify
  • Affiliate Marketing
  • High-End Consulting
  • Flipping Homes
  • Sell your skills on Fiverr
  • Sell an online course

There are tons of avenues to making a million dollars, but it has to be one that can be scaled at an enormous level. We must think big—bigger than you ever thought. Think so big that people would make fun of you if you told them how big you wanted to be. Every great entrepreneur started with these thoughts.

Remember, someone once had the idea to bottle water and sell it. Can you imagine the reaction when they first told someone?

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2. Commit

Very few, if any, millionaires ever did so without a strategic time commitment and strategy. The best way to do this is to look at your schedule and see where you can make up some hours. You will need to work on this idea at least 5 days a week.

To give you an idea, my hours are 4:30 am to 7 am every morning before my 3 and 5-year-old wake-up. Does it suck some mornings? You bet. But to me, it’s worth every sacrifice.

Making a million dollars is a lofty goal, and if you think I will lie to you and say you can do it without working harder than you ever had, you are reading the wrong article.

3. Become an Expert

Before you jump right in, let me give you a piece of advice. This is one of the places I failed miserably when I first started. Learn and then learn some more. But isn’t it okay to learn as you go? You bet!

The thing is, you must have more knowledge than the average joe. Passion, unfortunately, does not mean expertise. People can smell a fake from a mile away, and your expertise will be no different.

The best way to become an expert is to find a mentor who has been successful in your niche. I am a huge believer in investing in yourself and so, don’t be afraid to attend paid conferences, seminars, or even paying for a mastermind.

Knowledge truly is power and when you are trying to make a million dollars, you need all the power you can get.

4. Launch

Spreading your wings is the scariest part.

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What if I fail? What if my friends make fun of me? What if…?

Self-confidence and strategy are the keys here. Talk to any entrepreneur who has made a million dollars—there is no one out there who can say that they didn’t have times where they wanted to quit.

There were times when they cried, became frustrated, wanted to wave the white flag. Bet they didn’t because they believed in themselves and had a strategy. You must TRUST THE PROCESS.

Here are some 7 solid launch strategies to give yourself confidence and a definite boost in sales—and accelerate your path to a million dollars.

  1. Obtain 100 reviews before you ever launch.
  2. Obtain 5 video testimonials that speak to you or your product.
  3. Have 3 influencers commit to sharing your product or service on launch day.
  4. Capture every email address you can and email them bi-monthly.
  5. Give away a set amount of products/services in return for social media shares.
  6. Run a paid advertising campaign for your launch- (FB and Google are the best bang for your buck).
  7. Once you complete step 6, start back at step 1 and repeat.

5. The Dream Customer

From my experience, this is where most people hang their hats up. We were just on top of the world and more excited than a kid on Christmas Eve. We have launched, worked for months, and we finally put our product/service out to the world only to hear crickets.

This is where we separate the “boys from men”—as they would say. Most likely you have a good product/service, but it’s not reaching your dream customer. Let me explain.

Imagine you are selling makeup. It’s the prettiest make-up anyone has ever set their sights on. It’s priced right, its packaging is stellar, and its logo is the bee knees.

You launch and you even follow the launch steps. but you fail to identify your dream customer aka “who buys makeup.” So, instead of 18 -35-year-old women seeing your product, it is scattered with demographics that have no interest in makeup. This results in you thinking your product is flawed and having to go back to square 1 when really, you have a marketing issue, not a product issue.

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Once you have reviews and testimonials, it is imperative that you now target your product/service to what many would call “your dream customer.”

Here are some ways you can get in front of your dream customer:

  1. Learn Pinterest by taking Pinterest Academy.
  2. Take Twitter flight school.
  3. Take classes on Google Garage.
  4. Learn Fb ads via Facebook Blueprint.
  5. Find Instagram/TikTok influencers to promote your brand that already has your dream customers as followers.

6. Manage Your Money well

The entire American dream can go to hell in a handbasket real quick if you don’t manage your profits well. We have seen many before us who spent their profits without any structure. There is a difference between making a million dollars and structuring your funds to become a millionaire.

If you have come to this step, then you are above the curve and have a great problem to solve.

How will you structure your profits? What percentage will you save? How much will you pay yourself? How much will you put into marketing?

There are a plethora of questions you must sort through. The good thing is you now have a problem that most people would die to have. You have an abundance of income and need to know how to structure it.

I would strongly recommend paying yourself a set salary regardless of your profits. You can always give yourself an end of year bonus. I would also advise seeking out a CPA and making sure you are taking advantage of your tax advantage investments to their fullest potential.

7. Find Balance

The entire site and its premise are called Lifehack. Lifehack does not stand for “work 100 hours per week and be un-happy.” From my understanding, it is the exact opposite. It is a mindset of winning at life by being efficient and successful in all areas of life.

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Obtaining a million dollars will not give the deep satisfaction that you have always longed for. The journey, however, can and will fill that satisfaction if you can find your passion along the way.

Many people find fulfillment in the journey, but very few will ever find fulfillment in the money.

To expand on this point further, let me put it this way. I know many millionaires that could afford to stop working today and live more comfortable lives than many of us would ever dream of.

So, why don’t they? Here’s why.

It’s never truly about the money—it’s about the journey, it’s about the hustle, it’s about being a winner. The money just comes with those things. Unfortunately, this is why very few ever accomplish this feat. They don’t enjoy the grind. They don’t endure the roller coaster of emotions it takes to make a million dollars.

Bottom Line

Many entrepreneurs will attempt to make a million dollars, and many will succeed. Following this framework will not be a silver bullet, but it will be a great place to start in your journey of financial freedom and entrepreneurship.

I wish you the best of luck! Cheers.

More Money Making Tips

Featured photo credit: Alexander Mils via unsplash.com

More by this author

Tyler Green

Host of Middle Class Money Podcast

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Last Updated on April 19, 2021

40 Healthy And Really Delicious Meals You Can Make Under $5

40 Healthy And Really Delicious Meals You Can Make Under $5

Ever had those moments where you really wanted to eat something delicious and healthy but didn’t have the financials means to do so? Whether you’re a student or parent, this compilation of 40 great, healthy, and inexpensive recipes will make every night special and help you get fit! No more meals where you have to force the food down! It’s time to make that budget your best friend and turn it into great recipes. Enjoy!

1. Fish Tacos in Crunchy Shells ($3.56 per serving)

Is there a better way to end the day than a Fish Taco dinner filled with protein and nutrients and is easy on the wallet? This recipe calls for a boys’ or girls’ night in front of a good movie or game.

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    2. Mini-Meatball Noodle Soup ($3.43 per serving)

    We’ve heard of the delicious spaghetti and meatballs recipes, but imagine having that same meatball goodness in a soup? It’s like Christmas in a bowl. Healthy, warm, and only $3.43 per serving.

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      3. Spaghetti and (Vegan) Meatballs ($2.13 per serving)

      Now it’s time to look at the traditional spaghetti and meatballs recipe, but with a little twist: vegan meatballs. This way, you can enjoy the Italian tradition without adding on the extra calories. I’m sold!

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        4. Kabocha Squash and Lentils ($3.12 per serving)

        Absolutely delicious way to end the day with a Kabocha Squash and lentils dinner. The beauty of this recipe is that you can actually make many other things from the mixture, from dips to full-on meals. All under $5 per serving.

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          5. Baked Coconut Lentils ($0.91 per serving)

          Coconuts are always a good idea, but it doesn’t have to be eaten only for dessert or breakfast. With this great recipe, you can now eat a lunch or dinner filled proteins and a coconut twist. Yum!

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            6. Easy Marinated Roasted Chicken ($3.40 per serving)

            We love chicken and at less than $5 per serving, we are in heaven with this recipe. Add some vegetables and rice on the side and you’ve got yourself a full meal!

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              7. Organic Greens and Goat Cheese Gratin ($2.36 per serving)

              This is absolutely divine. You get in your healthy greens and your fat macros with this great recipe. Takes only a few minutes to make and it’s easy on the wallet. Bon Appetite!

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                8. Beef Pot Roast ($3.22 per serving)

                One word: perfect. This meal will warm your insides and fill you up with the high protein content.

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                  9. Fajita-Style Quesadillas ($0.43 per serving)

                  If you want to eat Mexican tonight but want to stay in your budget, this Quesadilla recipe is your best friend. It’s tasty and filled with healthy ingredients for less than a dollar per serving.

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                    10. Fish Tostadas with Chili Lime Cream ($2.82 per serving)

                    Another great lunch idea for the busy days ahead. Prep this in the morning or the night before and you’ve got yourself a healthy and cheap lunch meal!

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                      11. Beef and Black Bean Chili ($1.36 per serving)

                      Might not look like much, but this amazing chili is actually extremely healthy for you. The protein from the beef and the carbs from the black beans will fill you up in no time, and keep you full for a long period of time. Delicious and warm, just right for the winter!

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                        12. Crispy Fish and Peppers ($2.18 per serving)

                        Amazing recipe for anyone looking to change up their meals while keeping their macros in check and not going overboard on spending. Satisfies your crunch tooth (see what I did there?) and gives you all the protein you need to stay full and lean.

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                          13. Vegetarian Gumbo ($1.50 per serving)

                          You have the perfect macro mix here with the carbs, fats, and proteins. At less than $5 per serving, you’ve got yourself a meal that will last for the whole week!

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                            14. Mexican White Bean Soup ($0.99 per serving)

                            With the cold weather creeping in, it’s not a surprise that soups are coming back in style. This great Mexican White Bean Soup dish will keep you warm for winter without making a hole in your pocket.

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                              15. Black Beans with Mango & Cilantro ($0.38 per serving)

                              Mangoes make every dish a little bit sweeter, which is why we absolutely love this recipe. A normal rice and bean dish might be a little meh, but add the sugary taste of mangoes and you’ve got yourself a party!

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                                16. Bean Burritos ($0.71 per serving)

                                If you’re having people over tonight and don’t want to spend too much time or money on food, this dish is a great option! You can even cut up the burritos into pieces and make finger foods while everyone’s watching the game or gossiping.

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                                  17. Five-Spice Beef Kabobs ($2.43 per serving)

                                  The spices in this recipes add a delicious twist to the beef kabobs, which is definitely worth trying!

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                                    18. Cornmeal Crusted Pork ($1.92 per serving)

                                    If you like the fried crunch but want to opt for a healthier alternative, cornmeal is your man. This healthy recipe will satisfy all your fried desires without making you pop open your pant’s button.

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                                      19. Chicken, Tomato & Cucumber Dinner Salad ($2.57 per serving)

                                      Easy to do, extremely healthy, and super delicious. A must-try!

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                                        20. Lentil Soup with Beef and Red Pepper ($1.90 per serving)

                                        I can’t believe how cheap this meal is, especially for all the nutrients it contains. You can make a big pot on Sunday night and divide it into small portions to last you a whole week.

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                                          21. Smoky Mushroom Stroganoff ($1.90 per serving)

                                          Craving pasta but not sure what to top it off with? How about smoky mushrooms with a twist?

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                                            22. White Bean Tuna Salad ($1.36 per serving)

                                            You can add this White Bean Tuna Salad in your sandwich or just eat it as-is for a quick lunch on a busy day.

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                                              23. Sausage Eggwiches ($0.80 per serving)

                                              Who says you have to eat fast food to get an eggwich? This delicious recipe will give you an amazingly healthy eggwich for less than a dollar per portion. Can you say Breakfast?

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                                                24. Baja-Cali Black Bean Salad ($1.17 per serving)

                                                Great snack to add to a movie-night with friends. You don’t have to use chemically-processed salsas anymore, you can now use this homemade salad for your chip dips.

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                                                  25. Gnocchi, Sweet Corn & Arugula in Cream Sauce ($2.24 per serving)

                                                  Italians always knew how to make carbs look good! This delicious Gnocchi recipe will give your lunch a whole new meaning. Easy to make and only $2.24 per serving.

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                                                    26. Vegetable Lasagna ($1.73 per serving)

                                                    If you were looking for a healthy lasagna, you’ve just found it. At under $5 per serving, you can fill yourself up right away without putting on the extra calories.

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                                                      27. Fajita-Ranch Chicken Wraps ($2.05 per serving)

                                                      Don’t know what to make for lunch this week? How about delicious chicken wraps with a healthy ranch? This recipe will make all your lunches, even the quick ones, healthy and colorful.

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                                                        28. Quinoa with Pan Roasted Brussels Sprouts ($1.24 per serving)

                                                        A dish that has quinoa and brussel sprouts can’t be unhealthy, it just can’t, which is why this dish is one to keep in the books. Easy to make, healthy, and will keep you full for a long period of time.

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                                                          29. Butternut Squash Chili ($1.04 per serving)

                                                          You don’t need meat to make chili now that you have this recipe! It’s 100% healthy, filling, and smells absolutely delicious.

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                                                            30. Fast Shrimp Bisque ($2.03 per serving)

                                                            Seafood doesn’t have to be expensive if you know how to do it right, and this fast shrimp bisque is a great recipe to try if you’re in the mood for some seafood!

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                                                              31. Chicken-Noodle Casserole ($0.98 per serving)

                                                              Looks divine doesn’t it? This super easy to make dish will satisfy all your taste buds without burning a hole in your wallet or adding a few extra numbers on the scale.

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                                                                32. Burrito Cups ($1.18 per serving)

                                                                Entertaining someone tonight and don’t know what to make as appetizers? These burrito cups are a great alternative to chips or other greasy finger foods. All you need to enjoy it is a spoon and a cup.

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                                                                  33. Lemon-Dill Shrimp & Pasta ($2.45 per serving)

                                                                  Another impressive shrimp recipe under $5 per serving. The lemon-dill twist adds a great taste to the dish.

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                                                                    34. Potato Frittata ($0.87 per serving)

                                                                    If you want to eat potatoes for breakfast but still want it to be healthy, this is the recipe for you. At under a dollar per serving, this potato frittata will make you see potatoes in a whole new light.

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                                                                      35. Grilled Pork and Pineapple ($2.67 per serving)

                                                                      Meat and fruits? Oh, yes. The juiciness of the pork mixed with the liquid sugar in the pineapple will make you wish you knew about it sooner.

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                                                                        36. Greek Honey-Lemon Pork Chops ($2.15 per serving)

                                                                        Another splendid recipe mixing sweet and salty for a healthy meal. Easy to make and absolutely mouthwatering.

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                                                                          37. Jamaican Pork Stir-Fry ($2 per serving)

                                                                          You can add this healthy stir-fry to any dish as a side or amply enjoy it as-is for lunch or dinner. You can even make a wrap sandwich out of it if you’re in a rush to eat.

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                                                                            38. Herbed Salmon ($2.49 per serving)

                                                                            Salmon contains a healthy dose of fats that will boost your metabolism, lower inflammation, and make you happier. At under $5 per serving, need I say more?

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                                                                              39. Five-Spice Pork Kabobs ($1.96 per serving)

                                                                              Exquisite recipe under $5 per serving that will most definitely awe everyone at your dinner party.

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                                                                                40. Stuffed Sweet Potatoes with Mango-Black Bean Salsa ($1.24 per serving)

                                                                                You don’t have to eat sweet potatoes alone anymore with this flavorful recipe.

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                                                                                  Featured photo credit: Featured Photo Credit: 5 Dollar Dinners via 5dollardinners.com

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