How to make a million dollars a month within 6 years.
Written by admin on May 4th, 2010
When I started in Internet Marketing, I had a thought. Creating a website that makes $1 every month in profit should be very easy. Surely, everyone can do it. If that’s true, all I need to do next is double the profit I’m making every three months. This means that after 3 months, I should be able to make $2 a month, after 6 months $4 a month and so on. This can be done by creating more websites, by driving more traffic to the existing ones, or by improving the profitability of the websites. The important thing, keep doubling every three months. If you are out of ideas as for how to increase the traffic, or improve the ROI of a website, simple create more websites, each will start with a profit of $1 a month.
If I’ll be able to keep it going, doubling every 3 months, I will be making $1,000,000 within 6 years.
Nice thought, isn’t it ?
Where do I stand now ? Well, I started about 18 months ago, and I made more then $1 the first month. But I decided to keep the original plan, and make sure I double up the original first 1$ every three months. Until now, I was able to get way ahead of my plan, but it should start to become more difficult when the numbers become really big (after 18 months I should be making 2^5 which is only $32 – very easy task). I think that the critical stage will be after 2.5 years, when you need to double from $1000 to $2000, $2000 to $4000, and so on. I guess I’ll need to start hiring cheap outsourced labor at that point in order to continue creating website at a rate that doubles my income every 3 months, but I’m hoping I’ll be able to cover the costs from the money I earned in the first 2.5 years.
I’ll be glad to hear your thoughts.
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One Response to “How to make a million dollars a month within 6 years.”
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August 6th, 2010 at 6:14 am
Very interesting concept here. It’s like that math equation I did back in school. Would you like a million dollars now or get paid a penny the first day but double the previous day’s pay daily for 30 days. (which is more??? = )
In theory this is very doable, but a fatal flaw in this are that it would be difficult to manage that many websites. You would have to create hundreds if not thousands of them. While you are building your new ones the older ones get stale and may not grow or even lose traffic/revenue.
I feel that it’s best to focus your efforts and create a system that work for you and then duplicate that success. In other words, sometimes it’s best to be really good at one thing rather than not as good at many things. Build a niche, dominate, and repeat.