TOP 5 Businesses To Become A Millionaire As A Self-Employed Business Owner Without Any Employees
Reports show there are 25 million one-person-owned businesses that operate without any employees and only about 36,000 of them or .14% make a million dollars a year or more.
Only about 9% of businesses do a million dollars a year but doing it on a shoestring budget without any employees is even harder with only .14% being able to achieve this.
There is a difference between a traditional business, versus a one-person-owned business in that these types of businesses tend, to be lifestyle businesses. A lifestyle business supports their lifestyle and gives these business owners the freedom to be at home with their families, or travel more, etc.
However, it does not matter what helped certain people become successful but what will give you the best odds of success.
The businesses with the most million dollars businesses are:
– Real Estate
– Real Estate Related Services
– Automotive Dealers
– Medical Offices
– Restaurants
The businesses that will give you the best odds to make a million dollars as a self-own business owner without any employees are:
E-commerce
In years past, we could buy products and open up a store. It took a great deal of capital and resources to do something like that. With the affordability of technology, it is becoming easier and easier.
Technology and education use software that is getting cheaper. You may be familiar with the term funnel which is a certain kind of website that does the selling for you. It is similar to a vending machine that operates offline. These are tools that do the selling for you.
There are companies that build fully automated funnels that cost between $30,000-$100,000. If you use software similar to click funnels for about $300 a month or $3,500 a year however if you pay for the year upfront you can get a discount.
If you give yourself a year to learn how to use it, they have an online university where they teach marketing, lead generation, and other skills you will need to know.
You can find products to sell online where you buy them at a discount and sell them online. There are also affiliate programs, resellers, and network marketing where you can use software like click funnels to send traffic to a website. When they buy your products, you earn a commission from them without having to buy large amounts of inventory.
Real Estate
43.2% of the richest Americans own rental property and 25.2% of the richest Americans are involved in real estate-related services which would include being real estate agents and mortgage brokers. According to a 2014 NAR report, it indicated that 87% of all new agents fail after five years in the industry, with only 13% becoming successful.
The average real estate agent makes around $40,000 per year however, Jim Fleck made $3 million dollars in his first 9 months in real estate by combining real estate and info marketing which helped establish himself as the most credible expert in his field.
Personal / Professional Services
This would include anything from accounting, business coaching, doctors, nutritionists, personal trainers, and working as a travel agent. Nowadays, when operating in these fields as a one-person business, your time is limited. So many of these business owners combine info marketing which helps to establish them as the most credible experts in their field and makes them an authority in their field and the ability to charge premium prices.
25.2% of the richest Americans are involved in real estate-related services and if you would like to see how to make $5,000-$15,000 per day helping local real estate agents, visit http://realestateenterprise.alphalifestyleacademy.com Doctors and medical professionals are in the top five businesses that yield the most millionaires. If you’d like to make $5,000-$15,000 a day helping local doctors, please visit http://medicalenterprise.alphalifestyleacademy.com
Info Marketing
People spend a billion dollars a day trying to find information through books, courses, and coaching programs to solve their problems. Many traditional businesses underestimate the power of books and courses however, info marketing establishes these businesses as the most established experts in their field.
Manufacturing
If you have an idea for a product you can hire a company to manufacture it for you.
Many of these one-person businesses that make a million dollars use multiple strategies because the average millionaire has seven streams of income. In many cases, these types of businesses start off with information marketing like Bill Phillips. He started his newsletter with a $180 investment and as he became more successful, he started recommending products in his newsletter through commerce. He then improved his company’s image and went from writing a newsletter to creating a magazine, then released a number of different books. From there he began manufacturing his own protein powder and nutrition products and ultimately sold his company for $300 million dollars.
Robert Hijvec from the show, Shark Tank, spoke at an Inc. 5000 event where he discussed why so many companies aren’t as successful as they could be. He details that many of the less successful companies tended to believe they will be successful because they have a good product, however, the more successful companies tend to be more sales-focused.
So once you have a product you then need to develop sales skills.
Many people have it backward. First, then they learn to sell, you should start like Rebecca, who works with me inside Grant Cardone’s mentoring program. She spent $1,200 on how to learn to sell and once a week we meet over a Zoom call for 6 weeks. Then we would have access to his online training library for one year and were ultimately invited to his offices in Miami for a full day training workshop.
Rebecca then joined a network marketing company. Many people claim you can make money in network marketing or MLM however because she learned to sell for 6 weeks first she recruited 19 people and made $21,000 in 3 weeks. When someone has put in the effort to build a large enough following where they can blast out a message to them they only need a small percent of these leads to respond to the message to make $100,000.
Just think how much easier it would be to find someone who is already successful and send out a message to their following endorsing you and what you have to offer. In our team, we help each other in this manner. However, most companies go after one customer at a time. On the other hand, we use group marketing where we land a customer that could potentially bring us hundreds or thousands of new customers.
There are some people who have followings of hundreds, thousands, and in some cases even millions of followers. Instead of you putting in the effort to build a following yourself, wouldn’t it be simpler if you found someone with a large base who could send out a message endorsing you and what you have to offer.
The first time I did this I made a deal with Joel Broughton who sent out an email to his customer base. Over the next six hours after sending out that email, I made $14,100 within my very first 24 hours in business.
The next time I did this I put a project like this together with Al Nin. We landed a deal with his dentist and partnered up with several beauty salons where we provided them with marketing material which turned into 3,200 new patients in the first 90 days They brought in an average $2,000 per patient for a total of $6.5 million over the next 12 months,
Most companies go after one customer at a time. We use what is known as joint ventures or group marketing where we acquire a customer, and that one customer may bring us hundreds, thousands or depending on the size of the deal it could yield tens of thousands or hundreds of thousands of new customers.
Jeff Walker made no money for six years, in his one-person business. After 9 years he made a total of $210,000 however, after learning about group marketing he made $3.5 million over a 35-hour period.
People love the idea of leveraging someone else’s following to build their own customer base. Going from theory and putting it into action can be too much to ask of small businesses. As a small business owner, you already have many challenges you have to manage. This is why I want to invite you to partner up with us and work together as a team. We have created a shortcut to make it easy for you to take advantage of this opportunity.
I want to invite you to visit 90daymillionaire.alphalifestyleacademy.com
I have a blast recording today’s episode, I’m glad I could help you, stay healthy, and have a great day!
