Top 5 business ideas/strategy to make 1million$ profit a year in 2021

[Tim Peterson]

I thought of collecting the top 5 most likely ways to make 1 million $ in profit a year as one person in 2021. Ranked by difficulty/skill-level needed ie. most likely for most to succeed.
So far i don't know any personally, that has done this, only many trying too but really doing the homerun. I have my own intuition on what would be a good way. See my suggestions below. I know alot of people that act like they are doing this put when you check their numbers it's never 1million a year (i'm in Scandinavia and company reports are public). Mostly they "own a job" and make around 100-200k a year working double hours than a normal good job in tech. Most small company owners i see have alot of turnover but little profit.

Hope you have some similar good ideas. Can adjust the list or come up with some even better ideas. Ideally we can conclude a final list as the threat evolve.

Ps. Please dont write the obvious like "it depends". Please no un-ethical ideas most people won't do anyways.

1. Shopify niche product the solve concrete issue and get most leads via google search.
Pro: Google search can get high traffic of issues many people search for.
Cons: Demands luck and outstanding creativity to come up with a truely unique product.

2. Online marketing agency - Biggest challange again get big high paying clients. They often have their own marketing departments.
Pro: It's simple most companies need it.
Cons: Because it's simple many lostcost workers flood the market. It's years of training to get an edge compare to industry standart.

3. Food delivery service
Pro: Leverage new demend from corona
Cons: Require many employees and start capital.

4. Online courses
Pro: Low cost, easy to start.
Cons: Require 10-20 years of expert knowledge and industry experience to be interesting for most.

5. Software developement agency(outsource most to asia/easteurope) - Biggest challange here is to get enough high paying clients, that are not eventually figure out all is done overseas. The good client again often have their own departments and prefer to get people on the payroll.
Pro: This skills will also get you a good paying job incase you fail. It common in the industry to pay developers high rates and shortage is people is known.
Cons: 3-5 yeas of dedicated study to understand software development (coding). East european contries are doing this in large scale already so you are just a middlman.

 

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[alexkuzmov]

I thought of collecting the top 5 most likely ways to make 1 million $ in profit a year as one person in 2021. Ranked by difficulty/skill-level needed ie. most likely for most to succeed.
So far i don't know any personally, that has done this, only many trying too but really doing the homerun. I have my own intuition on what would be a good way. See my suggestions below. I know alot of people that act like they are doing this put when you check their numbers it's never 1million a year (i'm in Scandinavia and company reports are public). Mostly they "own a job" and make around 100-200k a year working double hours than a normal good job in tech. Most small company owners i see have alot of turnover but little profit.

Hope you have some similar good ideas. Can adjust the list or come up with some even better ideas. Ideally we can conclude a final list as the threat evolve.

Ps. Please dont write the obvious like "it depends". Please no un-ethical ideas most people won't do anyways.

1. Shopify niche product the solve concrete issue and get most leads via google search.
Pro: Google search can get high traffic of issues many people search for.
Cons: Demands luck and outstanding creativity to come up with a truely unique product.

2. Online marketing agency - Biggest challange again get big high paying clients. They often have their own marketing departments.
Pro: It's simple most companies need it.
Cons: Because it's simple many lostcost workers flood the market. It's years of training to get an edge compare to industry standart.

3. Food delivery service
Pro: Leverage new demend from corona
Cons: Require many employees and start capital.

4. Online courses
Pro: Low cost, easy to start.
Cons: Require 10-20 years of expert knowledge and industry experience to be interesting for most.

5. Software developement agency(outsource most to asia/easteurope) - Biggest challange here is to get enough high paying clients, that are not eventually figure out all is done overseas. The good client again often have their own departments and prefer to get people on the payroll.
Pro: This skills will also get you a good paying job incase you fail. It common in the industry to pay developers high rates and shortage is people is known.
Cons: 3-5 yeas of dedicated study to understand software development (coding). East european contries are doing this in large scale already so you are just a middlman.

Leaving aside how unlikely it is to make 7 figures with any of the ideas you`ve listed.
How much do you think ideas, any ideas, are worth?

 

[Deleted78083]

I thought of collecting the top 5 most likely ways to make 1 million $ in profit a year as one person in 2021. Ranked by difficulty/skill-level needed ie. most likely for most to succeed.
So far i don't know any personally, that has done this, only many trying too but really doing the homerun. I have my own intuition on what would be a good way. See my suggestions below. I know alot of people that act like they are doing this put when you check their numbers it's never 1million a year (i'm in Scandinavia and company reports are public). Mostly they "own a job" and make around 100-200k a year working double hours than a normal good job in tech. Most small company owners i see have alot of turnover but little profit.

Hope you have some similar good ideas. Can adjust the list or come up with some even better ideas. Ideally we can conclude a final list as the threat evolve.

Ps. Please dont write the obvious like "it depends". Please no un-ethical ideas most people won't do anyways.

1. Shopify niche product the solve concrete issue and get most leads via google search.
Pro: Google search can get high traffic of issues many people search for.
Cons: Demands luck and outstanding creativity to come up with a truely unique product.

2. Online marketing agency - Biggest challange again get big high paying clients. They often have their own marketing departments.
Pro: It's simple most companies need it.
Cons: Because it's simple many lostcost workers flood the market. It's years of training to get an edge compare to industry standart.

3. Food delivery service
Pro: Leverage new demend from corona
Cons: Require many employees and start capital.

4. Online courses
Pro: Low cost, easy to start.
Cons: Require 10-20 years of expert knowledge and industry experience to be interesting for most.

5. Software developement agency(outsource most to asia/easteurope) - Biggest challange here is to get enough high paying clients, that are not eventually figure out all is done overseas. The good client again often have their own departments and prefer to get people on the payroll.
Pro: This skills will also get you a good paying job incase you fail. It common in the industry to pay developers high rates and shortage is people is known.
Cons: 3-5 yeas of dedicated study to understand software development (coding). East european contries are doing this in large scale already so you are just a middlman.

Have you read the books?

Edit: and what about online surveys? (sorry, couldn't resist).

 

[sparechange]

1. Something that people want
2. Something that people need
3. Something people think they want
4. Something people think they need
5. Something people are forced to buy.....

Wanna buy some car insurance?

 

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[Guest-5ty5s4]

I thought of collecting the top 5 most likely ways to make 1 million $ in profit a year as one person in 2021. Ranked by difficulty/skill-level needed ie. most likely for most to succeed.
So far i don't know any personally, that has done this, only many trying too but really doing the homerun. I have my own intuition on what would be a good way. See my suggestions below. I know alot of people that act like they are doing this put when you check their numbers it's never 1million a year (i'm in Scandinavia and company reports are public). Mostly they "own a job" and make around 100-200k a year working double hours than a normal good job in tech. Most small company owners i see have alot of turnover but little profit.

Hope you have some similar good ideas. Can adjust the list or come up with some even better ideas. Ideally we can conclude a final list as the threat evolve.

Ps. Please dont write the obvious like "it depends". Please no un-ethical ideas most people won't do anyways.

1. Shopify niche product the solve concrete issue and get most leads via google search.
Pro: Google search can get high traffic of issues many people search for.
Cons: Demands luck and outstanding creativity to come up with a truely unique product.

2. Online marketing agency - Biggest challange again get big high paying clients. They often have their own marketing departments.
Pro: It's simple most companies need it.
Cons: Because it's simple many lostcost workers flood the market. It's years of training to get an edge compare to industry standart.

3. Food delivery service
Pro: Leverage new demend from corona
Cons: Require many employees and start capital.

4. Online courses
Pro: Low cost, easy to start.
Cons: Require 10-20 years of expert knowledge and industry experience to be interesting for most.

5. Software developement agency(outsource most to asia/easteurope) - Biggest challange here is to get enough high paying clients, that are not eventually figure out all is done overseas. The good client again often have their own departments and prefer to get people on the payroll.
Pro: This skills will also get you a good paying job incase you fail. It common in the industry to pay developers high rates and shortage is people is known.
Cons: 3-5 yeas of dedicated study to understand software development (coding). East european contries are doing this in large scale already so you are just a middlman.

Everyone asks this question and there are paradoxically no good answers and infinite good answers.

That’s the problem with the question. It’s just too vague and generic... virtually any business could work, or not work.

I will give you one example though: become a general contractor and hire subs who are highly skilled but cheap.

 

[spreng]

I would focus first on building up your portfolio of skills through becoming a highly successful executive. Either that or start a business with funding that will not make 1 million dollars this year or the next. Large sums of money usually do not come in the form of annualized profit like that; you typically get paid out with an exit (acquisition or IPO).

Ecommerce with a unique and groundbreaking product may work with excellent marketing and a lot of luck. But you may be setting yourself up for disappointment as well.

 

[AppMan]

I thought of collecting the top 5 most likely ways to make 1 million $ in profit a year as one person in 2021. Ranked by difficulty/skill-level needed ie. most likely for most to succeed.
So far i don't know any personally, that has done this, only many trying too but really doing the homerun. I have my own intuition on what would be a good way. See my suggestions below. I know alot of people that act like they are doing this put when you check their numbers it's never 1million a year (i'm in Scandinavia and company reports are public). Mostly they "own a job" and make around 100-200k a year working double hours than a normal good job in tech. Most small company owners i see have alot of turnover but little profit.

Hope you have some similar good ideas. Can adjust the list or come up with some even better ideas. Ideally we can conclude a final list as the threat evolve.

Ps. Please dont write the obvious like "it depends". Please no un-ethical ideas most people won't do anyways.

1. Shopify niche product the solve concrete issue and get most leads via google search.
Pro: Google search can get high traffic of issues many people search for.
Cons: Demands luck and outstanding creativity to come up with a truely unique product.

2. Online marketing agency - Biggest challange again get big high paying clients. They often have their own marketing departments.
Pro: It's simple most companies need it.
Cons: Because it's simple many lostcost workers flood the market. It's years of training to get an edge compare to industry standart.

3. Food delivery service
Pro: Leverage new demend from corona
Cons: Require many employees and start capital.

4. Online courses
Pro: Low cost, easy to start.
Cons: Require 10-20 years of expert knowledge and industry experience to be interesting for most.

5. Software developement agency(outsource most to asia/easteurope) - Biggest challange here is to get enough high paying clients, that are not eventually figure out all is done overseas. The good client again often have their own departments and prefer to get people on the payroll.
Pro: This skills will also get you a good paying job incase you fail. It common in the industry to pay developers high rates and shortage is people is known.
Cons: 3-5 yeas of dedicated study to understand software development (coding). East european contries are doing this in large scale already so you are just a middlman.

non of these are million dollar idea /business , they have same chance as any other business , any business can be millon dollar business if x and y were available.

 

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