How to make a million dollars

ooen · 09-27-2004 01:55 AM

Ok, what's the quickest way to make a million dollars online?

**temi** · 09-27-2004 05:08 AM

Invent a useful website that at least one million people will be willing to pay at least $1 to subscribe to and voila, you have made 1 million dollar :)

ooen · 09-27-2004 05:57 AM

That actually sounds pretty tough. What website has a million+ subscribers who pay $1+? I'm just curious.

Other ideas?

**temi** · 09-27-2004 10:43 PM

I have just identified a market niche for you to exploit :) But Microsoft has several millions of users access Microsoft's sites everyday including over half a million Microsoft Certified Professional who pay to access certain resources on Microsoft's site.

I know Microsoft is huge but I am sure a smaller creative organisation can create a resource that could be in high demand, you just need to charge $2 and you will only need 500,000 to make a million. :)

ooen · 09-27-2004 11:56 PM

There are already ton of websites for MCSE, MCSD, Oracle, Cisco, and all other certifications. So, the idea isn't new, though it does not imply that you can't compete in the market.

Ok, what else can we do? New OS? New SE? ****? Entertainment? Become actor, actress, dancer, singer ...?

**temi** · 09-28-2004 12:15 AM

Okay,
Lets look at your proposal one by one:
New OS, no way, that will cost an awful lots of money to develop
New SE ....umm there is a possibility but you need to have lots of bells and whistle to attach users
Porn.... tasty porn both hard and soft core is over done as well, way way too many porn sites
Entertainment...... depends on what sort of entertainment.

On the radio today I hear that over 75% of adult that should have a will (in UK ) do not have a will, so how about an online will writing service? That could be potentially lucrative, talking of which when I logon to a one of the largest grocery super stores in the UK I saw
an advert for online will service for £9.99, lawyers usually charge you about £100 for the same service.... so I think I found the one million dollar idea, an online will service for UK residents, you never know, the statistic of people without a will in US may be the same or worst :)
Temi

ooen · 09-28-2004 12:27 AM

Originally Posted by temi

On the radio today I hear that over 75% of adult that should have a will (in UK ) do not have a will, so how about an online will writing service? That could be potentially lucrative, talking of which when I logon to a one of the largest grocery super stores in the UK I saw
an advert for online will service for £9.99, lawyers usually charge you about £100 for the same service.... so I think I found the one million dollar idea, an online will service for UK residents, you never know, the statistic of people without a will in US may be the same or worst :)
Temi

Actually, this already exists; it's called your last email or something like that. However, now we are looking into an interesting sector, legal. A lot of legal services are not automated, while there is huge demand, consequently, you need to spend a lot of money to get stuff done. Automation system for this? Looks pretty promising. Up until today, many people are saying, "Oh, it's so difficult, oh, it's so complex, oh, it can never be automated, etc. etc." If we can find a way to automate this, however, buying a couple of islands is no longer our dream ...

Ok, what else can we do?

**temi** · 09-28-2004 11:19 AM

ooen,
I have suggested a few things, its now your turn :) What can we do to make a million dollars?

Going back to the will thing, I think its actually worth pursuing, you do not need to be a lawyer to do it you just need a lawyer to draft and ensure the document complies with legal requirements..... I wish I have time to look into info this more, its potentially a lucrative venture.
Temi

ooen · 09-28-2004 12:19 PM

Originally Posted by temi

ooen,
I have suggested a few things, its now your turn :) What can we do to make a million dollars?

Pretty conventional way to make a million:

You can make money on the web; adsense, affiliate programs, Amazon book store, etc. If you combine all these, you can make a pretty good portal that makes, ... I don't know, 4 -5k? It's not much, but it's something. Once you take the portal to make 4 - 5k, you probably don't need that much time to maintain, so you move onto next one. You make 3 - 4 of them. Maybe it takes you 2 - 3 years to do this, but once you make 3 - 4 portals that make 4 - 5k a month, you make 15k+ a month. Now, you can start hiring people; you contract out some of work, build more portals, and also contract out maintenance. If you make 10 portals and you make 2k from each(after you pay to contractors), then you make 20k a month; that's like 250k a year. If you spend wisely, you'll have a million in several years. It can take up to 10 years to do all these, but it should sound more realistic than some plans. What do you think?

A little unconventional, i.e, we think they work, but we don't see such businesses in today's market.

1. Legal work automation(which we already covered)

2. Creation of a network of healthcare, Medicare institutions; it's been talked about for some time now, but there is no such system that actually connects all healthcare, Medicare institutions nation wide electrically, i.e., via the internet. You need to have a revenue model, business model, but this can be really big.

2.2. Worldwide network, not nation wide. Even bigger.

3. Creation of a network of colleges and universities; it's been talked about for some time now, but there is no such system that actually connects all colleges and universities nation wide electrically, i.e., via the internet. You need to have a revenue model, business model, but this can be really big.

3.2. Worldwide network, not nation wide. Even bigger.

If I take more time, I should be able to come up with a couple of other ideas ...

Comment?

**temi** · 09-28-2004 12:44 PM

What a brilliant woman you are ooen,
Here are my response to some of your sugestions:

1. Adsense/affiliates
So far going by the webmasters I have spoken to the only company making money of Adsense is Google, I don't think that many sites make much and from my experience you don't make decent money from most affiliate program (probably because most webmaster I know have an average site and not a super site with thousands of hits per day) the little you make by the time you pay paypal or bank commission what is left is not work writing home about, but I could be wrong, I will like to hear from any webmaster who makes over $1,000 a month from Adsense partnership.

2. I think the creation of healthcare, Medicare institutions etc is a brilliant one but I don't see it getting off the ground because most such instantiation are government own/controlled and you can imaging how difficult it will be to sell such ideas to governments in many different countries. (It took the whole world a few years to convince the government of South Africa that AIDS is real and preventive action needs to be taken to stop the spread).

But I am sort of trying to think of an easy way that will only take a few ambitions people to create a million dollar idea, people acting individually or businesses move much quicker than governments and institutions. Perhaps we should talk more about the legal automation proposal via PM, I think its the best and the more feasible of the proposals
Temi