Post
Topic
Board Economics
Re: You want to become a millionaire,here is the secret formula
by
fullhdpixel
on 16/08/2020, 17:21:22 UTC
Don't forget about the cost of capital unless you sell something without any capital but you won't get the whole cut if you are just commissioning.
There are expenses that you need to consider too. For celebrities, known people, they have their network and they are the ones who can actually sell products easily.
Uuhm, even for those people who are celebrities, I think they still have work to do, because they will be needing money to buy those products before selling them. The only difference with celebrities or influencers is that unlike someone who is not, they will find it easy to market any product they have for sale, because a lot of people (their fans) would be ready to buy it any time.

Can you guess why it is so hard to make your first million ?
Establishing your brand name is the hardest part here. When you are becoming a known personality then you can easily make money than you could imagine about it. I agree selling more products for lesser prices is the first thing we need to do and over the time we can sell few product for higher prices for achieving our targeted money.