How to become a millionaire – Chronological Masterchecklist

How to become a millionaire – Chronological Masterchecklist

1.Dream
2.Know what your’e good at
3.Chose a niche
4.Check if the niche is nascent or competititve
5.Educate and inform yourself
6.Visually innovate the idea
7.List probabilities of failure
8.Singlehanded startup possible?
9.If not start with your best mate
10.Pool ideas with other people in the business
11.Check for feasabiity
12.Survey the market for demand
13.Create a small team
14.Start slow production
15.Keep tabs on intial reaction
16.Negate flaws and errors
17.Find distributors to propogate your product
18.Give them credit and concessions
19.Prepare for damaged/defective returned goods
20.Bear that loss by reimbursing
21.Focus on small margins and large numbers
22.Let the sales trickle in
23.Push the product with cheap advertising
24.Use free electronic media to popularise brand name
25.This should give immediate boost to sales.
26.Promotional campaigns and schemes at stores and public places
27.Formation of a skeletal distribution network
28.Supply covers large part of the state
29.Product now has statewide presence
30.Setup of management team to track sales,purchases and control inventory
31.Appointment of logistics to expand into a 500 mile radius
32.Sales now touching $1 million.employees number in double digits
33.Establish mini chain of distributors and vendors
34.Set time frames and sales deadlines.
35.Aggressive promotion by engaging low level distributor
36.Skyrocket sales and offer interstate supply
37.Organise labour & overheads to increase margin
38.Use that intermediate excess for your first capital expense
39.Raw cost decreases substantially,profits maximized
40.Onset of an empire,personal net worth atleast a $ million

 

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