{"smallUrl":"https:\/\/www.wikihow.com\/images\/thumb\/0\/08\/Become-a-Millionaire-Step-12.jpg\/v4-460px-Become-a-Millionaire-Step-12.jpg","bigUrl":"\/images\/thumb\/0\/08\/Become-a-Millionaire-Step-12.jpg\/aid173509-v4-728px-Become-a-Millionaire-Step-12.jpg","smallWidth":460,"smallHeight":345,"bigWidth":"728","bigHeight":"546","licensing":"<div class=\"mw-parser-output\"><p>License: <a target=\"_blank\" rel=\"nofollow noreferrer noopener\" class=\"external text\" href=\"https:\/\/creativecommons.org\/licenses\/by-nc-sa\/3.0\/\">Creative Commons<\/a><br>

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<\/p><\/div>"} 1 Look at what people need, not necessarily at what you want when deciding on a business. There will always be things people need and they need them to be done well. Things like garbage disposal, energy creation, providing products to the health and dying industries, etc. In addition, the certainty of customers should not be overlooked lightly. Choose a business that provides what people really need and be prepared to put in the effort to make your products and services either the best, the most price efficient or unique.[10] There will always be things people need and they need them to be done well. Things like garbage disposal, energy creation, providing products to the health and dying industries, etc. In addition, the certainty of customers should not be overlooked lightly. Choose a business that provides what people really need and be prepared to put in the effort to make your products and services either the best, the most price efficient or unique.

{"smallUrl":"https:\/\/www.wikihow.com\/images\/thumb\/3\/30\/Become-a-Millionaire-Step-13.jpg\/v4-460px-Become-a-Millionaire-Step-13.jpg","bigUrl":"\/images\/thumb\/3\/30\/Become-a-Millionaire-Step-13.jpg\/aid173509-v4-728px-Become-a-Millionaire-Step-13.jpg","smallWidth":460,"smallHeight":345,"bigWidth":"728","bigHeight":"546","licensing":"<div class=\"mw-parser-output\"><p>License: <a target=\"_blank\" rel=\"nofollow noreferrer noopener\" class=\"external text\" href=\"https:\/\/creativecommons.org\/licenses\/by-nc-sa\/3.0\/\">Creative Commons<\/a><br>

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<\/p><\/div>"} 2 Have a frugal startup. There is much talk about "looking the part". There isn't much point looking the part if it cost an arm and a leg to get it and you lack clients to pay for it. Get yourself a fabulous suit that is worn every day and makes you feel confident and ready to meet people but be very careful with your office fit-out and other business elements.[11] Here are some ideas to help you initially: Consider renting offices that someone else furnishes, cleans and that get shared around. Spend only the time needed in them, to cut costs.

If you do have your own offices, rent furniture or buy it cheap at auction.

Lease anything that needs to be constantly updated, computers being number one in this group.

Keep staff expenses under strict control from the beginning.

Fly economy. Or use Skype and other online forms of virtual conferencing and avoid flying at all.

Be eco-aware and turn off unused items all the time. Save the planet and your bottom line. There is much talk about "looking the part". There isn't much point looking the part if it cost an arm and a leg to get it and you lack clients to pay for it. Get yourself a fabulous suit that is worn every day and makes you feel confident and ready to meet people but be very careful with your office fit-out and other business elements.Here are some ideas to help you initially:

{"smallUrl":"https:\/\/www.wikihow.com\/images\/thumb\/4\/4b\/Become-a-Millionaire-Step-14.jpg\/v4-460px-Become-a-Millionaire-Step-14.jpg","bigUrl":"\/images\/thumb\/4\/4b\/Become-a-Millionaire-Step-14.jpg\/aid173509-v4-728px-Become-a-Millionaire-Step-14.jpg","smallWidth":460,"smallHeight":345,"bigWidth":"728","bigHeight":"546","licensing":"<div class=\"mw-parser-output\"><p>License: <a target=\"_blank\" rel=\"nofollow noreferrer noopener\" class=\"external text\" href=\"https:\/\/creativecommons.org\/licenses\/by-nc-sa\/3.0\/\">Creative Commons<\/a><br>

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<\/p><\/div>"} 3 Monitor cash flow with an eagle eye in your start-up business. This is one time in life where obsession is a good quality. Every cent counts and if it's not in your savings or being churned back into your business, it's in someone else's pocket.[12] Don't neglect the viability of your business. Always pay attention to what isn't working and remedy it at the earliest possible opportunity.

Don't neglect the mundane but essential parts of running a business, like timesheets, tax, petty cash, invoicing, etc. Do them with clockwork regularity or employ someone who is capable to deal with these things.

Deal with bad debt as soon as it rears its head. It isn't going away, so the earlier you face it, the better. This is one time in life where obsession is a good quality. Every cent counts and if it's not in your savings or being churned back into your business, it's in someone else's pocket.

{"smallUrl":"https:\/\/www.wikihow.com\/images\/thumb\/7\/7a\/Become-a-Millionaire-Step-15.jpg\/v4-460px-Become-a-Millionaire-Step-15.jpg","bigUrl":"\/images\/thumb\/7\/7a\/Become-a-Millionaire-Step-15.jpg\/aid173509-v4-728px-Become-a-Millionaire-Step-15.jpg","smallWidth":460,"smallHeight":345,"bigWidth":"728","bigHeight":"546","licensing":"<div class=\"mw-parser-output\"><p>License: <a target=\"_blank\" rel=\"nofollow noreferrer noopener\" class=\"external text\" href=\"https:\/\/creativecommons.org\/licenses\/by-nc-sa\/3.0\/\">Creative Commons<\/a><br>

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<\/p><\/div>"} 4 Find your business sweet spot. There are only three pieces to this. First, know the strengths that are unique to you, or at least where you can add unique value. Then find a market, a group of people, who want what you have to offer. Finally, you have to make sure those people will pay money for what you have to offer.

{"smallUrl":"https:\/\/www.wikihow.com\/images\/thumb\/d\/d6\/Become-a-Millionaire-Step-16.jpg\/v4-460px-Become-a-Millionaire-Step-16.jpg","bigUrl":"\/images\/thumb\/d\/d6\/Become-a-Millionaire-Step-16.jpg\/aid173509-v4-728px-Become-a-Millionaire-Step-16.jpg","smallWidth":460,"smallHeight":345,"bigWidth":"728","bigHeight":"546","licensing":"<div class=\"mw-parser-output\"><p>License: <a target=\"_blank\" rel=\"nofollow noreferrer noopener\" class=\"external text\" href=\"https:\/\/creativecommons.org\/licenses\/by-nc-sa\/3.0\/\">Creative Commons<\/a><br>

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<\/p><\/div>"} 5 Define your brand. A brand is nothing more than a belief system that people have about you and your business. People will want to do business with somebody or some company they believe will solve a specific problem they have. You must be seen as the solution to that problem.

{"smallUrl":"https:\/\/www.wikihow.com\/images\/thumb\/c\/c7\/Become-a-Millionaire-Step-17.jpg\/v4-460px-Become-a-Millionaire-Step-17.jpg","bigUrl":"\/images\/thumb\/c\/c7\/Become-a-Millionaire-Step-17.jpg\/aid173509-v4-728px-Become-a-Millionaire-Step-17.jpg","smallWidth":460,"smallHeight":345,"bigWidth":"728","bigHeight":"546","licensing":"<div class=\"mw-parser-output\"><p>License: <a target=\"_blank\" rel=\"nofollow noreferrer noopener\" class=\"external text\" href=\"https:\/\/creativecommons.org\/licenses\/by-nc-sa\/3.0\/\">Creative Commons<\/a><br>

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<\/p><\/div>"} 6 Create your business model. Your business model must be either high fidelity or high convenience. If it's high fidelity you will have fewer customers who will pay a lot. You need 100 customers at $10,000 each to make $1 million. If it's high convenience you will have many customers paying you small amounts. You need 100,000 customers paying you $10 each to make $1 million.

{"smallUrl":"https:\/\/www.wikihow.com\/images\/thumb\/0\/0b\/Become-a-Millionaire-Step-18.jpg\/v4-460px-Become-a-Millionaire-Step-18.jpg","bigUrl":"\/images\/thumb\/0\/0b\/Become-a-Millionaire-Step-18.jpg\/aid173509-v4-728px-Become-a-Millionaire-Step-18.jpg","smallWidth":460,"smallHeight":345,"bigWidth":"728","bigHeight":"546","licensing":"<div class=\"mw-parser-output\"><p>License: <a target=\"_blank\" rel=\"nofollow noreferrer noopener\" class=\"external text\" href=\"https:\/\/creativecommons.org\/licenses\/by-nc-sa\/3.0\/\">Creative Commons<\/a><br>

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<\/p><\/div>"} 7 Decide on your exit strategy. The simplest way to make $1 million is to create a business, an asset that you can sell. People will often pay two times the annual earnings for a business. That means a $500,000 a year business can be sold for $1 million. That breaks down to having a business that makes roughly $40,000 per month.

{"smallUrl":"https:\/\/www.wikihow.com\/images\/thumb\/1\/1d\/Become-a-Millionaire-Step-19.jpg\/v4-460px-Become-a-Millionaire-Step-19.jpg","bigUrl":"\/images\/thumb\/1\/1d\/Become-a-Millionaire-Step-19.jpg\/aid173509-v4-728px-Become-a-Millionaire-Step-19.jpg","smallWidth":460,"smallHeight":345,"bigWidth":"728","bigHeight":"546","licensing":"<div class=\"mw-parser-output\"><p>License: <a target=\"_blank\" rel=\"nofollow noreferrer noopener\" class=\"external text\" href=\"https:\/\/creativecommons.org\/licenses\/by-nc-sa\/3.0\/\">Creative Commons<\/a><br>

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<\/p><\/div>"} 8 Make more profits from existing customers. The fastest way to increase your income is to sell more products and services to your existing customers. Find ways to add even more value, and offer the products and services to your existing customer base.

{"smallUrl":"https:\/\/www.wikihow.com\/images\/thumb\/6\/62\/Become-a-Millionaire-Step-20.jpg\/v4-460px-Become-a-Millionaire-Step-20.jpg","bigUrl":"\/images\/thumb\/6\/62\/Become-a-Millionaire-Step-20.jpg\/aid173509-v4-728px-Become-a-Millionaire-Step-20.jpg","smallWidth":460,"smallHeight":345,"bigWidth":"728","bigHeight":"546","licensing":"<div class=\"mw-parser-output\"><p>License: <a target=\"_blank\" rel=\"nofollow noreferrer noopener\" class=\"external text\" href=\"https:\/\/creativecommons.org\/licenses\/by-nc-sa\/3.0\/\">Creative Commons<\/a><br>

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<\/p><\/div>"} 9 Build systems and scale up. This a key entire secret to a massively accelerating your income growth. If you create a product that sells for $100, and you know that $50 spent on advertising consistently produces one sale, you have a winning model, as long as you've picked a large market. Scale up.