The Mathematics Behind Obtaining $1 Million Cash; What Is Realistic And How Can Someone Accomplish It?

From medium.com:

How to make a million dollars in cold, hard cash

Think about the unit economics of what you do.

If you’re running any kind of business, whether it’s freelancing as a creative or building a software company, you have to look at how you make money, what your units are and how much you charge, what your overheads are, and what combinations of products, prices, services and scale are going to get you where you want to be.

This is what a million bucks looks like per unit.

Here’s an image I’ve found and kept saved in my Evernote for a while now.


(if anyone has the source for this, let me know)

To make a million dollars, you need…

5,000 people to buy a $200 product

2,000 people to buy a $500 product

1,000 people to buy a $1,000 product

500 people to buy a $2,000 product

300 people to buy a $3,333 product

Or alternatively…

Get 5,000 people to pay $17 a month for a year

Get 2,000 people to pay $42 a month for a year

Get 1,000 people to pay $83 a month for a year

Get 500 people to pay $167 a month for a year

Get 300 people to pay $278 a month for a year

I love that break down. I love it because it makes that million seem so incredibly achievable. It’s just a matter of what you sell for what price to how many people for how long.

Right there, that’s your millionaire equation. Right there…that’s what you’ve got to base the economics of your business on…

Read more @

https://medium.com/hi-my-name-is-jon/how-to-make-a-million-dollars-c4dc9a9bfd99#.vjsh8ua3g

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