Making $100,000 a month is certainly achievable, but it requires a lot of hard work, dedication, and often some level of expertise or skill in a particular area. It’s important to note that not everyone will be able to make this kind of money, and it’s not necessarily a realistic goal for everyone.
Some people may be able to achieve this level of income through entrepreneurship, investing, or other means, while others may need to work their way up through a high-paying career or build up their skills and knowledge over time.
Here are 15 potential ways on how to make 100k a month, along with examples and explanations.
1. Start a successful online business
Starting an online business can be a lucrative way to make $100k a month. For example, an e-commerce store that sells high-end luxury goods could easily generate that kind of revenue.
Here are some steps you can take to get started:
- Identify a profitable niche: Start by researching potential business ideas and identifying a niche market that has demand but is not oversaturated. Look for areas where you have some expertise or interest, as this can make it easier to stay motivated and engaged.
- Conduct market research: Once you have identified a potential niche, conduct market research to validate your idea and identify potential competitors. This can include analyzing search engine data, conducting surveys, and analyzing social media activity.
- Develop a business plan: A business plan will help you define your goals, target market, pricing strategy, and marketing plan. It will also help you determine your startup costs and projected revenue.
- Build a website: A professional-looking website is essential for any online business. Hire a web developer or use a website builder to create a site that is easy to navigate, mobile-friendly, and optimized for search engines.
- Create a marketing strategy: A marketing strategy will help you promote your business and attract customers. This can include social media marketing, search engine optimization, email marketing, and paid advertising.
- Stay focused and motivated: Starting a successful online business takes time and effort, so it’s important to stay focused and motivated. Surround yourself with supportive people and seek out mentors who can offer advice and guidance.
Overall, starting a successful online business requires careful planning, hard work, and dedication. But with the right strategy and a bit of luck, it can be a rewarding and profitable venture.
2. Launch a SaaS (Software as a Service) platform
Developing and launching a SaaS platform can be a highly profitable venture. For example, a project management software tool that charges a monthly subscription fee could generate $100k a month or more.
To launch a SaaS platform, you would first need to identify a market need or a problem that your software can solve. You would then need to design, develop, and test the software application to ensure it meets the needs of your target users.
Once the software is ready, you would need to set up a hosting infrastructure to run the application on, such as Amazon Web Services, Microsoft Azure, or Google Cloud Platform. You would also need to implement a billing system and a subscription model for users to access the platform.
You would then need to market and promote your SaaS platform to attract users and generate revenue. This could involve targeted advertising, content marketing, social media outreach, and other strategies to reach your target audience.
As the platform grows, you would need to continually monitor and improve its performance, scalability, and security to ensure the best possible user experience and customer satisfaction.
3. Become a top influencer on social media
If you have a large following on social media, you could potentially make $100k a month or more by collaborating with brands and promoting their products or services.
You need to create content that is both valuable and engaging for your followers. This could include posts, videos, stories, or other formats that align with your niche and are consistent with your brand. To reach a wider audience, you need to promote your content across multiple channels and use strategies like hashtags, collaborations, and influencer marketing.
Your personal brand should be built around your unique voice, values, and personality. This helps you connect with your followers on a deeper level and build a loyal community.
You need to actively engage with your followers and build a community around your content. This includes responding to comments and messages, collaborating with other influencers, and hosting events or meetups.
4. Invest in real estate
Real estate investing can be a highly lucrative way to make money. For example, owning and renting out several high-end properties could easily generate $100k a month in rental income.
Real estate investment can provide a steady stream of income and long-term appreciation, but it also carries risks and requires careful planning and management. It is important to consult with a financial advisor or real estate professional before making any investment decisions.
5. Become a successful trader or investor
If you have a strong understanding of the stock market or other financial markets, you could potentially make $100k a month or more through successful trading or investing.
Successful traders and investors are disciplined, patient, and adaptable. They use data-driven analysis, risk management, and diversification to maximize their returns and minimize risks. It takes time, effort, and experience to become a successful trader or investor, so it is important to have a long-term perspective and focus on continuous improvement.
6. Create and sell digital products
Creating and selling digital products such as e-books, online courses, and software tools can be a profitable way to make money. For example, an online course that teaches business skills could generate $100k a month or more in revenue.
Here are some steps to follow:
- Choose a niche: Identify a specific area of expertise that you are passionate about and think there is a demand for in the market.
- Decide on the product: Choose a type of digital product that fits your niche. This could be an ebook, online course, software, membership site, or digital download.
- Create the product: Develop your digital product by writing, designing, coding, or recording. You may need to hire freelancers or outsource some tasks.
- Set up a sales platform: Choose a platform to sell your digital product such as your own website or a marketplace like Amazon, Udemy, or Shopify.
- Promote your product: Use digital marketing strategies such as social media, email marketing, SEO, and paid advertising to drive traffic and sales to your product.
- Deliver the product: Once a customer purchases your product, deliver it digitally through email, download links, or a members-only site.
- Monitor and improve: Keep track of your sales and customer feedback to improve your digital product and marketing strategies over time.
Remember to always provide high-quality value to your customers and continually innovate and improve your digital products to stay competitive in the market.
Also, you can try dropshipping. Dropshipping is a retail fulfillment method where a store doesn’t keep the products it sells in stock. Instead, when a store sells a product, it purchases the item from a third party and has it shipped directly to the customer.
To succeed in dropshipping and aim for high revenue, focus on key aspects: conduct thorough market research to identify profitable niches, select reliable suppliers, create a professional, user-friendly online store, develop a compelling brand, use strategic marketing including social media and paid ads, offer excellent customer service, regularly analyze and optimize your business operations, and stay adaptable to market trends.
7. Offer consulting services
If you have expertise in a particular area, you could offer consulting services to businesses or individuals. For example, a marketing consultant who charges $10,000 per client could easily generate $100k a month with just 10 clients.
Always offer follow-up sessions, regular check-ins, or ongoing support to ensure your clients are successful in implementing your recommendations.
Remember to always maintain a high level of professionalism, deliver exceptional customer service, and continuously update your knowledge and skills to remain competitive in the market.
8. Invest in cryptocurrency
Cryptocurrency investing can be a high-risk, high-reward way to make money. For example, buying and holding a large amount of Bitcoin or other popular cryptocurrencies could potentially generate significant returns.
Remember to always invest what you can afford to lose and diversify your investments to reduce risks. Cryptocurrency is a volatile and speculative asset, so it’s important to do your due diligence.
Investing in cryptocurrency using crypto signals involves cautious market analysis, risk management, and verifying signal authenticity. Diversify investments, avoid scams, maintain emotional discipline, and stay informed about market trends and regulations. Always do thorough research and consider professional financial advice.
9. Launch a successful podcast
Podcasting can be a lucrative way to make money through sponsorships, advertising, and merchandise sales. For example, a popular podcast with a large audience could generate $100k a month or more in revenue.
To launch a successful podcast, follow these steps:
- Choose a topic: Select a topic that you are passionate about and that has an audience that would be interested in listening. Conduct market research to identify a gap in the market or a unique angle that you can take to differentiate your podcast from others.
- Plan your content: Develop a content plan for your podcast that includes episode topics, guest speakers, and segment ideas. Consider the length of each episode, the frequency of new episodes, and the format of your podcast.
- Set up your equipment: Invest in a good quality microphone and recording equipment. Find a quiet location to record your podcast where there will be minimal background noise.
- Record and edit your episodes: Record your episodes using your equipment and edit them to enhance the quality. Edit out any background noise or interruptions.
- Choose a hosting platform: Select a hosting platform that suits your needs and budget. Consider factors like storage space, analytics, and ease of use.
- Publish and promote your podcast: Publish your podcast on your hosting platform and promote it through social media, email marketing, and other channels. Encourage listeners to leave reviews and ratings to improve your podcast’s visibility.
- Engage with your audience: Engage with your audience by responding to their comments and feedback. Incorporate their suggestions and ideas into your future episodes.
- Consistency is key: Consistently release new episodes and maintain the quality of your content to retain and attract new listeners.
By following these steps, you can launch a successful podcast that engages and retains listeners, attracts sponsors, and establishes you as an expert in your chosen topic.
10. Become a successful author
Writing and publishing books can be a profitable way to make money. For example, a best-selling author who earns a $5 royalty per book could generate $100k a month by selling 20,000 copies of their book.
To become a successful writing author, follow these steps:
- Read and write consistently: Read widely in your chosen genre and study the craft of writing. Write regularly and establish a writing routine.
- Identify your niche: Identify your unique writing voice and niche. Determine what sets your writing apart from others and what themes or topics you are passionate about.
- Build a platform: Build a platform by creating a website, blog, or social media presence to showcase your writing and connect with readers.
- Develop your skills: Hone your writing skills through workshops, classes, and mentorship programs. Join writing groups or critique circles to get feedback on your writing.
- Network with industry professionals: Network with agents, publishers, and other industry professionals to learn about the industry and promote your writing.
- Submit your work: Submit your writing to literary agents, publishers, or literary magazines. Research submission guidelines and tailor your submissions to the specific publication or agent.
- Be persistent: Rejection is common in the publishing industry, but persistence and resilience are key to success. Keep submitting your work and use rejection as a learning opportunity.
- Build a brand: Build a brand around your writing by consistently publishing quality content and engaging with your audience. Attend literary events and book signings to promote your writing and connect with readers.
11. Launch a successful YouTube channel
Creating and publishing content on YouTube can be a profitable way to make money through sponsorships, advertising, and merchandise sales. For example, a popular YouTube channel with millions of views could generate $100k a month or more in revenue.
Develop a content plan that includes video topics, format, length, and frequency. Consider your target audience’s interests and preferences when creating your content.
Invest in quality video equipment, including a camera, lighting, and sound equipment. Find a quiet location to film your videos where there will be minimal background noise.
Create engaging and high-quality content that stands out from others in your niche. Use a storytelling approach, visuals, and humor to capture viewers’ attention.
12. Offer high-end coaching or mentoring services
If you have expertise in a particular area, you could offer high-end coaching or mentoring services to individuals or businesses. For example, a business coach who charges $25,000 per client could generate $100k a month with just four clients.
Provide exceptional value by delivering personalized coaching sessions that meet your clients’ specific needs. Tailor your coaching to each client’s unique situation and goals. Establish a strong relationship with your clients by building rapport, showing empathy, and providing ongoing support. Regularly check in with your clients to ensure they are making progress toward their goals.
Continuously improve your coaching skills through ongoing professional development, attending conferences, and seeking feedback from clients.
13. Start a successful franchise business
Starting and operating a successful franchise business can be a profitable way to make money. For example, owning and operating multiple successful fast-food franchise locations could generate $100k a month or more in revenue.
You can secure funding for your franchise by considering options such as small business loans, crowdfunding, or using personal savings. Consider the initial investment and ongoing expenses such as royalties and marketing fees.
It is important to find a location for your franchise that is in a high-traffic area and aligns with your target market. Consider factors such as rent, zoning laws, and proximity to competitors.
Hire and train staff that aligns with your brand values and delivers exceptional customer service. Use training resources provided by the franchisor to ensure consistency across all franchise locations.
14. Become a successful public speaker
Public speaking can be a lucrative way to make money through speaking fees and merchandise sales. For example, a successful motivational speaker who charges $50,000 per speaking engagement could generate $100k a month by speaking at just two events per month.
You will need to build your credibility by obtaining relevant certifications, publishing articles or books in your field, and establishing yourself as an expert in your niche. Use testimonials from satisfied clients to promote your speaking services.
Network with event planners, industry associations, and other organizations that may need a public speaker for events or conferences. Attend industry events and conferences to meet potential clients and establish yourself as a thought leader in your niche.
15. Launch a successful mobile app
Developing and launching a successful mobile app can be a highly profitable. First, you need to identify a problem or need in the market that your mobile app can solve. Conduct market research to understand your target audience’s needs, interests, and behaviors. Use this research to inform your app’s features and design.
Then you develop a minimum viable product (MVP) that includes the core features of your app. Use an iterative design process to refine your MVP based on user feedback.
Success in mobile app development requires a focus on user experience, a strong marketing strategy, and ongoing optimization based on user feedback and performance metrics.
How to make 100k a month: conclusion
When you are asking yourself how to make 100k a month know that it requires a combination of hard work, strategic planning, and leveraging your skills and resources.
Ultimately, whether or not it’s achievable for a particular person depends on a range of factors, including their skills, experience, resources, and willingness to put in the effort required to succeed. It’s important to set realistic goals and to be prepared to work hard to achieve them.