10 legal ways to make One Million Rands in South Africa

Posted on Jan 5, 2021 by Staff Writer

Rateweb | South Africa

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We all envy millionaires dont we?

You are probably reading this article because you also want to make a million rands.

The question that keeps lingering on is how do I make my first million rand.

Every millionaire in South Africa has pondered on this question whether consciously or subconsciously.

The following are 10 ways you can easily make your first million rands and join the elite group of many millionaires in South Africa.

1. Have the Right Mindset

Before we dissect tangible ways to make a million rands, you need to make sure your mindset is ready to be a millionaire.

You can do everything that I am going to share with you and still remain broke as ever as long as your mindset is not ready to be a millionaire.

Self-discipline is the highest order of discipline. Set your mind towards being a rand millionaire and pursue it with diligence and discipline.

You cannot wake up a rand millionaire, you need to exercise high level of positivity and start attracting the million rands.

As long as your mind is negative, forget about making a million rands.

Everything that you are about to read henceforth, works only with a positive mind; A MILLIONAIRE MINDSET.

Develop it now. Believe you will be a millionaire and won’t stop at anything towards achieving that goal.

2. Invest in a paying profession

Not all of us are given to entrepreneurship, some people are simply gifted academically or talented in a specific field.

You can easily make a million rands if you get into a paying profession; specialized profession.

South Africa actually has a considerable number of Lawyers, Economists, Doctors who are millionaires.

Most High Net Worth individuals are people who choose to go to school and specialize in certain professions.

If you are seriously considering being a millionaire, the following degrees have proved as millionaire makers; LLB or LLM, Finance and Economics, Accounting, Computer Science, Medicine, Engineering and Actuarial.

3. Start your business

Well, you have probably been told this over and over again; if you want to be successful start your own business.

Let’s go through this once again. Most known millionaires in South Africa are individuals who started their business and grew it to phenomenal levels.

But here is the secret, They all started small and persevered through difficult times and never gave up.

You can also make a million by starting off small in your backyard, it might take longer for you to finally realise your first million rands, but you will definitely get there.

4. Establish a strong online presence

You have been told the future is digital.

I put it to you today that the future is here!

Establishing a strong online presence will make you a millionaire in South Africa overnight. Yes, overnight.

Did you know you can make a cool R17 000 from getting a million views on YouTube alone?

Dan Mace is 29 and he stands out as South Africa’s biggest You-tuber, with more than 700,000 subscribers on his channel.

According to his Brand Manager Jonah Lewis, Mace makes up to $50 000 (R850 000) a video.

This means 2 videos alone give him an excess of R1.7 Million. Just like that!

The future is no longer digital, We are in the future and as long as you don’t grasp the internet of things, making a million rand might be a far fetched dream.

Invest your time and resources into enhancing your online presence and you might be on your way to making your first million rands.

Open blogs, websites, podcasts, YouTube channels and smile your way to the bank.

5. Create an App

Making a million rands is not that complicated at all.

Did you know if you create an App, target one million users, you can easily make your million rands?

Easy right? It can be dating apps, service apps, games, music, find your niche and create your own app.

Did you know that Candy Crush, was making 1 million United States Dollars a day?

South Africans are consistently looking for new apps. Capitalise on that by conjuring up Applications that can be appealing to South Africans.

Market it properly and you can make your million rands easily.

6. Invest in Index Funds

You might not be interested in online work or might not be academically gifted to make a lot of money from your profession but you are gainfully employed.

Traditionally, we were taught to save money. The little that you get from your salary can actually be saved and turn you into a millionaire.

Saving money to invest in Index Funds is the safest mode of investments which also has a high turnover.

Research extensively on the stock market and investing thereof once you have accrued enough savings you may want to invest in index funds.

This can be a confusing subject, hence the need for extensive research into the subject before investing but you can’t go wrong with index funding if you want to be a rand millionaire.

7. Work with Corporations owned by Multi-Millionaires

Cracking your head over how to make a million rand? Let me make things easier for you, very easy.

At times its all about being close to the levers of power.

Being in close proximity to Multi millionaires or Billionaires can give you an insight into how to make Millions.

Working with or for companies owned by multi-millionaires will increase your value proposition.

You can also use your proximity to the millionaires to angle for shares in their companies.

Once you by shares in a growing company, you are assured of one thing. As the company grows, so does your shares!

8. Purchase a Franchise

South Africans love buying from companies that have established names or rather brands.

In case you have a considerable amount of money and not keen on starting a new initiative, purchase a franchise.

Purchasing a franchise is a brilliant way of easily making a million rands. It’s more rewarding than starting your own trading name from the ground.

Engage top world brands and find out their terms of purchasing their franchise. If the conditions are favourable for you, GO FOR IT!

A name sells. A brand takes long to build, seize the opportunity to buy a franchise if the opportunity presents itself.

Half the job is already done for you, all you need is to present a product that already has a market.

Many South African millionaires have made a lot of money by simply entering into agreements with world brands.

9. Create a subscription-based service

Create a service and target 100 000 users for the services.

Get the 100 000 subscribers of your service to pay R10 a month.

That’s it! You have just made your first million rands in a month. And you are guaranteed of a million rand a month if you maintain your subscribers.

Think of any service that is appealing to South Africans, invest resources into it and watch money follow you.

Netflix is now a billion-dollar making company through monthly subscriptions.

Find the service and pursue it

10. Avoid Debt

This is crucial. Avoid Debt at all costs. Once you develop a trend of being in debt, you will struggle to be a debt-free Millionaire.

Actually it is very difficult for you to make a Million rands if you are in debt. Clear all debt.

A critical factor that must also be noted here is that you do not need to get into debt to be a millionaire.

You cant pride yourself in having R1 Million yet you have a R900 000 debt.

Start on a clean slate, brick by brick, build your empire. It is possible to make R1 000 000 in your lifetime.

FOCUS!

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