When we don’t know how to do anything the first time, it always looks impossible to do it until we have other people showing us how it’s done. I was reminded by this not long-ago that even a million dollar can be reached and attained very easily using a small idea that is supported with a strategy that really works.
I was watching this YouTube video of Steve Harvey speaking and giving an advice on how to become a millionaire and I was so amazed how he was able to break it down so easily using a “Ten by Ten Theory.” He also said you mainly need two things for this theory to work.
- Identify your gifts, talents, or skills
It can be God-given gifts, talents, or skills that you have learned and acquire, or anything really that you do your absolutely best with the least amount of effort.
Sometimes people think in order to make a million dollars you need this really big idea, but not so with Steve Harvey. According to him, if you have any God-given gifts, talents, or skills, because sometimes you only need one, then you have millions already at your disposals. It is very simple; inch by inch, anything is a cinch. With the “Ten by Ten Theory,” a million dollars is just a cinch. What you need is a ten dollar idea. Meaning that if you have anything that you can do so well and someone will give you ten dollars for it, that’s one of the main things you need to have to apply this theory to become a millionaire.
2. Multiply your effort by ten times each time
There is this famous quote by Robert Collier that says, “Success is the sum of small efforts repeated day in and day out.” Now, we all know whether we have God-given gifts, talents, or learned skills, in order to be successful, we are required to put them to work. Many times we are required to really work harder and smarter to achieving our goals and dreams.
This is how the ‘Ten by Ten Theory’ is broken down and you can apply it to work for you; let’s say you provided this service or sold this product and somebody just paid you $10 for it, and let’s assume that $10 price is your price minus cost of production, therefore, you now have $10. All you have to do next is to do whatever you did to get that ten dollars, and do it ten more times to give you $100. You now have one hundred dollars simply because you took a ten dollar idea and multiply it ten times, or did it ten times.
Whatever it took you to make $100, all you have got to do is to find a way to make it ten more times. For instance there are three ways you can do this; you can take that ten dollar idea or product, multiply your effort and sell it directly to hundred more customers. Two, you can take that idea, service, or product, and sell to ten customers whom each will sell to ten more customers to make 100 customers. Three, you can increase your value from a ten dollar idea to a hundred dollars value and sell it ten more times. You’ll now be making $1,000 dollars.
You have got to multiply that effort again and do whatever you have to do to make a thousand dollars, but again ten more times. You will have $10,000. So imagine you are now making $10,000 a month, which is basically about $120,000 a year.
Therefore, whatever it took you to make $10,000, all you have to do is to make more ten times. You will have $100,000. You are now just a step away from being a millionaire.
According by Steve Harvey, by this stage, you should have more people to help you out, people that can do portions of what you can do so that they can duplicate that effort. If you do just more time and do ten times, you have officially become a millionaire with a ten dollar idea.
It may look so hard, but if it is broken into pieces, stages, and become a continuous process, you can become a millionaire in dollars by using this ‘Ten by Ten Theory’ if you dare to dream and to work really harder, smarter, efficiently, and effectively.
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To your success,