Among the success stories of millionaires who started from scratch, there are many amazing examples of how they earned their first millions, increased them, and entered the list of the richest people in the world. However, each of them had its path. Someone opened a six-figure bank account as soon as they reached the age of majority (Jan Purkayastha, Raymond Lee, Fraser Doherty). And someone realized a cherished dream at a fairly mature age, like Ray Kroc (founder of McDonald’s).
If today’s millionaires are asked where they make millions, most of them will answer: in any area where the idea will benefit other people. Therefore, it will be in demand and highly appreciated. One example of this is the story of Jamie Murray Wells, founder of Glasses Direct, which makes affordable glasses.
The million-dollar idea came to Jamie suddenly when his eyesight failed and he needed glasses. Suddenly, he found out that a product costing $7 was sold for $150. The young man decided that this was unfair and that he could help thousands of people suffering from poor eyesight.
In the first year of its existence alone, the company sold 22,000 points worth more than a million dollars. Glasses Direct has now invested $34 million and sells one pair of glasses every 3 minutes.
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Is it possible to earn a million Rupee in Pakistan from scratch?
The international financial and consulting network FinExpertiza published a report at the beginning of September 2021, according to which the number of salary millionaires increased by 51% in Pakistan. Agency analysts claim that more than 17 thousand people officially receive a monthly salary of 1,000,000 Rupee. These are managers of the financial and insurance sectors, as well as employees of state corporations.
It is noteworthy that the report did not include entrepreneurs whose annual income often exceeds 12 million rupees.
Therefore, in search of an answer to the question of how to make a million in Pakistan, one can consider both hired labor and organizing one’s own business. To get a high salary, you need specialized education, a certain work experience. But to launch your startup, a good idea and start-up capital are enough.
It is almost impossible to become a millionaire without investments. Of course, if we are not talking about incredible luck in the lottery or on betting rates. These ways are just a matter of chance. Thanks to them, you can get rich quickly, but it’s not so easy to understand how to make a million by becoming a successful person.
How much can you earn your first million
As wealthy people who started from scratch say, “The first million is the hardest.” Even with an ideal business plan, there are often obstacles that can significantly delay the timeline for making a profit. In this case, it is necessary to go through a certain way of implementing the idea:
- preparatory stages;
- search for investors;
- launching an enterprise;
- promotion of the company;
- company expansion, etc.
All this can take months or years.
How to earn a million Rupees per month? The most realistic options work with an appropriate salary or a ready-made business with such a monthly income. But these are far from the only options.
How to make a million in a month
The list of opportunities on how to make a million in Pakistan quickly is constantly updated. Interesting options appear in it, based on the experience of foreign entrepreneurs or the needs that arise in the modern world.
Virus to the rescue: earning a million from scratch on a pandemic
As already mentioned, the success of an idea depends on how useful it is and how it helps to solve some pressing problems of consumers. The Covid-19 pandemic has changed modern realities and forced the world to live by new rules. Demand for personal protection and disinfection products has skyrocketed. Soon, it will remain stable – according to WHO forecasts, the fight against the pandemic will not end soon.
Therefore, the production and sale of masks, gloves, disinfectants, and other products that help prevent and stop the spread of coronavirus remain relevant.
In addition, the popularity of delivery services, bike, and motorcycle couriers has grown. Therefore, you can safely organize your own small business that delivers food, drinks, and shopping from supermarkets. Gradually, it can be expanded, increasing the reach of the audience and your profit.
Real estate: how to make a million from scratch on rent
This topic of earnings can hardly be called new. Nevertheless, it deserves special attention, because it offers several options for earning income in this area:
- rent out your property;
- engage in subleasing, releasing other people’s apartments;
- become a realtor, receiving a commission for mediation.
You can not be limited to renting residential apartments for a long time or hourly. Now co-working spaces are popular, where people can work comfortably without leaving the office. If you equip separate rooms in compliance with all sanitary requirements, such an institution will be able to open during quarantine restrictions.
Investing is the investment of one’s funds in an enterprise. Over time, such a contribution will bring interest to the borrower’s profits.
This way to make a million comes with a lot of risks. There are two main investment schemes:
passive – personal money is transferred to the management of a company or an individual for a certain monthly income;
active – you manage personal funds that are invested in stocks, business projects, company development, etc.
Coaches know how to quickly make millions by creating and selling training courses.
A prime example is Robert Kiyosaki, who made his fortune teaching business. Although, paradoxically, he experienced many failures in entrepreneurship. But it was this negative experience that served as the basis of the bestsellers that brought him fame, success, and money.
A Pakistan example is Andrey Parabellum, creator of Infobusiness2, and Parabellum Academy, author of the largest webinar, the number of participants of which exceeded 97 thousand people. Their success confirms that anyone willing to share their knowledge and experience can start making money in the info business.
The success of the idea is explained by the fact that today a person wants to receive maximum personal attention without advertising their problems. The demand for personal consultants is growing in almost every field – from medicine to the fashion industry. People want to have not only a trusted lawyer or dentist but also a designer, stylist, nutritionist.
Proof of this is Tony Robbins. Queues of stars and politicians line up for a consultation, not at all embarrassed that they will have to pay $ 1 million for this. Therefore, if you have expert experience in a certain field and good communication skills, the chances of success are high. Including telling how to earn a million Rupee in a short time.
Mark Zuckerberg not only made a fortune by creating a social network but also provided an opportunity for others to earn income. And we are not talking about buying Facebook shares, but promoting goods and services in it in the same way as Vkontakte, Instagram, TikTok, YouTube, and other social media.
In social networks, you can not only sell your goods and services. By creating an interesting blog and gaining a certain number of subscribers, bloggers monetize their accounts by receiving rewards for posting ads or personally promoting some product among their subscribers.
This is one of the popular ways to make a million. But it is suitable only for those who are not afraid to work on camera and share their experiences with others.
Organization of exhibitions and other art events
The works of contemporary artists are no less interesting to the public than the masterpieces of eminent classics. A clear confirmation of this is the blazar fair, which brought together the work of young artists, sculptors, and designers.
During the first day of the exhibition, interest in contemporary art amounted to 2.7 million rupees. But the artists will not receive all the money – some of it will go to the organizers of the exhibition.