8 Ways to Make RM1 Milliion

As emailed to me by the Malaysian Youth Entrepreneurship Forum :

  1. Ask RM10 from 100,000 people you know.
    Considering the number of people you will get to know
    in your lifetime, this does not sound as ridiculous as
    it seems.
  2. Think franchise. Trying to sell 1,000 packets of nasi lemak
    daily in one location may be a stretch. But if you have 10 locations
    selling 100 packs, it begins to sound possible.
    If you net a profit of RM1 per pack, all it takes is three years
    to become a nasi lemak millionaire.
  3. Pay yourself first. Make it a standing instruction.
    The moment you get your salary, automatically set aside
    10% in your “Make Me a Million” savings account.
    Watch the compound grow.
  4. The RM5 scheme. The plan is simple. Save RM5 every day.
    That’s not a log. Even a pack of cigarettes costs RM7.
    Then, deposit the money in an account that pays an interest
    of 10% p.a. In 42 years, you will have RM1 million, barring
    any fluctuations in the interest rate.
  5. Invest in yourself. Learn a skill. Get an MBA.
    Up your qualifications. The more you’re worth, the more you’ll
    be paid. The good old way of working yourself up the
    ladder still works.
  6. Join a reality show. Some offer big money and it’s fun.
    And even if you get booted out, take heart that you will
    provide the Malaysian public a lot of entertainment.
    Who knows, you may still make money.
  7. Be an entrepreneur. Like to bake? Trim bonsai? Turn your hobby
    into a money-making venture. Someone once said:
    “If you love your job, you’ll never have to work a day.”
    Sounds like a great way to get rich.
  8. Go online. A new, exciting and quirky idea could make million.
    For example, student Alex Tew, a 21-year-old student from
    Wiltshire, England, started selling pixels on his website to fund his studies.
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Comments
5 Responses to “8 Ways to Make RM1 Milliion”
  1. Victor says:

    Nice blog. 🙂

  2. Yuzairy says:

    1. you don’t become a millionaire that way. even if you succeed, you are actually owing 1 million to 100k people
    2. don’t forget about royalties. instead of being a franchise, be a franchisor
    3. no. pay your credit card first. only invest if the interest is higher than the your loan interest
    4. it’s very hard to find a 10% pa interest. you also have to make adjustment to inflation rates, transanctional fees, mgmt fees, zakat. Also market risk.
    5. You don’t need an MBA to be successful although it helps. Remember street smart vs book smart on The Apprentice? Get yourself a good book in managing money.
    6. Are you kidding? The only person that makes tons of money is the television station and telecom provider. Plus, if you won a million from TV shows, you’ll be bombarded with people asking you for money, scams etc
    7. A good idea but lacks one thing. Research if your interest is profitable. I.e is there a demand that you can fulfilled?
    8. Pixel ad don’t work anymore. Many jump online to make quick bucks but get burnt and frustrated. The online marketing world is all about creatitivity, strategies and being ahead of the game.

    me thinks that it’s hard to reach a million working for others. ditch your job and work for yourself 🙂

    having said all this, i recommend the 8th option. Why? Coz I’m doing it.

    p/s Dr Naz, why don’t you use online marketing to get you more prospects? You already blog about it, then monetize it. If know some people don’t want to commercialize their personal blog but it’s an option to consider.

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