To know what are the industries that produce the millionaires 100% success?
Ever heard of PewDiePie?
Of course you have. The Youtube gaming star makes an estimated $12m a year with his videos and, with over 48,000,000 subscribers, he has more viewers than some countries have citizens.
How about Markiplier? Ever heard of him?
There’s a good chance you have.
Markiplier has a pretty similar schtick to PewDiePie: Gaming, let’s plays, and comedy videos. He’s brilliant in his own right, but what he does isn’t all that “innovative”.
Nevertheless, Markiplier has an estimated net worth of over $2m and a subscriber count of nearly 15m.
Markiplier is worlds away from PewDiePie’s level of financial success and renown, but I don’t think anyone would say he isn’t massively successful.
Moral of the story? Massive success isn’t always the result of massive innovation.
Most industries have room for more than one business or individual. Second place isn’t always such a bad thing.
You don’t need to reinvent the wheel to sell it.
Another answer :
You’re not going to like my answer because it’s different from what everyone else seems to be saying. I’m a fan of the execution as opposed to the idea. I won’t give you an idea, Google one.
Ideas are easy.
Execution is hard.
I’m going to give you something much more valuable, the right mindset.
The numbers behind a million dollar business are simple.
You get 100,000 people to buy a $10 product
You get 50,000 people to buy a $20 product
You get 20,000 people to buy a $50 product
You get 10,000 people to buy a $100 product.
Getting to the million dollar mark in business requires a few things. Least of which is the actual idea. I have a thousand of those things – ideas – in my journal right now.
Here are things, just three, that can turn almost any idea into a million dollar one.
Without a doubt, the most powerful thing that you can ever do when building a business is to focus on the business
One overriding milestone. The one thing that will improve all other metrics in your business.
That may be to improve customer satisfaction by X amount every month (as measured by
It may be to improve your product by x% every six months.
It may be to increase the reach of your business by X% every week.
It may be to reduce churn by X% every three months.
Whatever it is, Focus on that goal to the exclusion of everything else. Trust me, it’s important.
Notice that every goal I mentioned is tangible and time oriented. Focusing on something fuzzy like I want to build a successful business is detrimental.
Back to the idea bit. You know why people always say that ideas aren’t as important as execution? It’s because ideas are fluid.
I’ve said it before and I’ll say it again, ideas don’t survive your first 5 customers. They’re always morphing and evolving to meet the needs of your market.
Blockbuster went out of business because it couldn’t change it’s idea to streaming video.
Google thrives because they’re always reiterating their ideas.
Kill your darlings.
3 Guard your time with your life.
Starting an online business is something that’s very independent by it’s nature. There are no colleagues running around the office and no bosses asking you for progress reports.
You live and die by your work ethic. With that being said, your time is your most important asset.
If you don’t use it wisely, you can kiss your goal of one million away — fast.
Those people in the coffee shops with their cute little Macbooks are not your friend. They are your enemy because they make it look so simple when it’s not.
Facebook is your enemy.
Twitter is your enemy.
Hell, Quora is your enemy.
All these things suck your time and you know as well as I do that you can’t get that time back.
Bonus: know why you want it.
Business is fun and it can be a fucking grind. People flake, deals fall through, and plans don’t work.
If you don’t have a compelling reason why you’re sacrificing so much then the problems will force you to quit.
The why keeps you going when you’d rather curl up in a ball and cry like a baby.
The why keeps you going through the crisis.
The why keeps you going when you’re left penniless and betrayed (really hope that doesn’t happen to to you).
Find your real motivation.