[Updated] How To Turn $10K into $100K In A Year (9 Proven Ways!)

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Making $100,000 with $10,000 in a year is not going to be easy for most people, but with the right strategy and the ability to take calculated risks, one can surely make $100,000 with $10,000 in a year, or less.

Before diving deep into the article, I would like you to go through each aspect of the things you are going to learn here today, and always be cautious before investing/spending your hard-earned money.

I am not a financial advisor and urge you to think thoroughly before taking any monetary action.

Now, without any further ado, let’s learn about the 9 proven ways you can use to turn $10k into $100k in one year (not in order):

  1. Trade in the stock market
  2. Invest in the stock market
  3. Invest in cryptocurrency
  4. Create a dropshipping store (Not saturated, still works!)
  5. Create an eCommerce store
  6. Start a side hustle
  7. Affiliate marketing
  8. Create a print-on-demand store
  9. Buy a business

Now, let’s explore each one of these to help you get a better understanding of them.

1. Trade in the stock market

Trading involves high risks but yields high returns as well if you do it right. To turn $10k into $100k with trading, you need to master the basic skills required to skew the odds in your favor.

The basic idea behind trading is that you buy low and sell high. You can learn the process of getting started with trading here.

Here is a blueprint that shows how to get 10%-20% returns per month by day trading.

If you do the math,

  • Day trading with $10,000 will get you $2,000 your first month at a return of 20%.
  • If you add the profit and the amount you invested, it will be $12,000 by the end of the 1st month.
  • Now trade with these $12,000 and you’ll profit $2,400.
  • Rinse and repeat the process for 13 months, and you’ll be sitting at around $106,993. Yay! 👏

Now, I know many factors can affect the outcome, and it is hardly possible to get the exact 20% profit everytime. But with proper knowledge and execution, you can get that kind of gain easily.

2. Invest in the stock market

Investing in the stock market could be a real deal if you know what you are doing. Warren Buffet made his fortune just by investing in the stock market.

He picked the right stocks, bought them at the right price, and now he is worth $100.6 billion as of April 2021.

Below is an example of Elon Musk’s Tesla stock. Let’s take a look at how you could have (or CAN, if you follow the strategy carefully) turned $10k to $100k in less than a year.

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The basic idea here is that you have to carefully pick 2-3 well-thought-out stocks, divide your $10k into three equal parts, and invest in each one of the stocks.

Let’s take a look at the strategy in action. I have selected just one company as an example to explain the strategy but you should always try to diversify.

Tesla Share Price Graph | Source: Google Finance

The graph above shows the price of TSLA on March 20, 2020, which was $85.51 per share. Now, if you had invested $10,000 in the company, you would have got ~117 shares of TSLA. [Scroll down ⬇ to find out how much you could have earned in just nine months].

Tesla Share Price Graph | Source: Google Finance

Fast forward nine months— It is January 8, 2021, and one share of TSLA is worth $880.02. Let’s do the math and find out what your 117 shares are worth now: 117 x 880.02 = $102,962.34

That’s how you turn $10k to $100k within a year by investing in the stock market!

3. Invest in cryptocurrency

Investing is the same in any kind of market. We already learned about investing in the stock market, now let’s see the power of investing in a digital currency.

Now, I’m not going to bore you with the explanation of blockchain technology, cryptocurrency, and Bitcoin, etc. Visit this article to know the basics or simply Google those terms to learn more about them.

Let’s get straight to the fun part!

Ethereum Price Graph | Source: Google Finance

Above is the graph showing the price of 1 Ethereum on May 8, 2020, which was $15,896.61. Let’s say you decided to spend $10,000 to buy Ethereum on this date. You would be getting ~0.629064939 amount of Ethereum.

[Note: It is not advised to use such a big amount of money to invest in one currency, you should always have a diversified investment portfolio]

Ethereum Price Graph | Source: Google Finance

On May 7, 2021, nine months later, your 0.629064939 Ethereum would be worth ~$180,525.6

4. Create a dropshipping store

Dropshipping is an eCommerce business model in which a store does not keep any inventory and fulfills the orders from a third-party supplier directly to the customer. Learn more about dropshipping here.

The plan is to find a winning product, create a one-product store on Shopify, and then use your $10,000 on the advertisement of your product (preferably Facebook ads).

I know I have rushed through these steps, but it would take another blog post to explain the ins and outs of dropshipping because there’s so much to learn about it.

Here’s a video that will help you understand everything about this business model:

5. Create an eCommerce store

This is different from dropshipping. In this business model, we have an online store but we do have to own an inventory of products that either we have manufactured or outsourced from another manufacturer.

It is not an easy one because there is so much that goes into running a successful eCommerce business.

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I found a great article for you to help you know more about this business model— How to Start an Ecommerce Business (A Complete Blueprint)

Most of your $10,000 amount would be spent on advertising and marketing, and you could easily make way more than $100,000 in a year if you have a great strategy and proper execution.

Watch this video to learn how to do it & get inspired:

6. Start a side hustle

A side hustle is a way to make some extra income on the side besides your primary source of income.

Countless side hustles can help you make $100k with a $10k investment. Below are some of the best ones you can start to turn $10k to $100k in a year.

Most of your $10k is going to be spent on advertising & marketing your side hustle business.

  • Sneaker Reselling
  • Amazon FBA
  • Kindle Publishing
  • YouTube Cash Cow Channels (You don’t have to make any videos, learn more)
  • Audible Audio Book Publishing (Very less competition, learn more)
  • Social Media Marketing Agency

7. Affiliate marketing

Affiliate marketing is a way to earn commissions by recommending other person’s products or services to potential customers.

The best part is that you don’t own the products/services, and you don’t have to worry about customer service, refunds, payment processing, and all that stuff.

You have to find good affiliate programs that actually help people and share the unique link provided by the affiliate program with an interested audience.

The plan is to pick a niche that you like, find a good affiliate program, create value-packed content around that niche, incorporate the affiliate link within the content that you created, and finally, promote that content with a targeted audience interested in that niche.

Affiliate marketing graphical explanation by Investingoals.com

Let’s understand the plan with a practical example:-

Let’s say you have a passion for health & fitness. The first step is to find a good affiliate product related to your niche, for instance, a ‘keto diet’ program.

You can find such offers on marketplaces like Clickbank, Shareasale, CJ, Digistore24, etc. There are various marketplaces like these, just use Google to find more.

The next step is to create value-packed content around the ‘keto diet’ niche. The best way is to create a good blog post or genuine and helpful review about that product because that would bring in consistent sales for you in the long run as well.

The same goes for YouTube videos. Create helpful YouTube videos about that product and put your affiliate link in the description.

If you are not sure about making it a long-term thing, you can create a simple landing page about the product and drive targeted traffic to it.

The last step would be to promote your content to the target audience and scale the business. You can use any form of advertising like Google ads, Pinterest ads, Facebook ads, Instagram shoutouts, etc.

8. Create a print-on-demand store

A print-on-demand store is a store where you sell products with custom designs on them, and these are only manufactured when someone orders from your store. Hence, print-on-demand.

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These products could be T-Shirts, Mugs, Masks, Socks, or anything you can think of that can have a custom design on it.

There are two ways to start this business:-

  • Sell on your own website
  • Sell on a marketplace specifically designed for print-on-demand products

If you want to go with the first one, you will have to get a domain name and hosting (get a FREE domain on Hostinger) and set up a website with WordPress & WooCommerce or some other such eCommerce platform.

Next, you will have to integrate an on-demand printing and fulfillment company like Printful. Here is a video showing how to set up your own print-on-demand store from scratch:-

If you want to go with the second one, there are many marketplaces that you can use to create and upload your designs. You can create the designs yourself or hire freelancers to create them for you. Some of the marketplaces are listed below:

  • Redbubble
  • Zazzle
  • Teespring
  • Society6

With both of these methods, one thing would remain common, and that is to invest your $10,000 smartly on creating/getting the best-selling designs and advertisement and marketing.

Facebook ads, Pinterest ads, and Instagram ads work the best for print-on-demand products.

9. Buy a business

Buying an online business can be a game-changer. For instance, take a look at the listing below. It is a luxury store that earns $7.3k in revenue and gets $2.2k as profit each month. It is up for sale at $5,000.

You can acquire this business for $5k (or less, if you do some bargaining), work on it, and scale it to big numbers with the help of the remaining $5k and $2.2k (store’s profit per month).

As it says in the description of the listing—you can expand the business by introducing more products and advertise them to the right audience.

You could easily make around $8k – $10k in profit within the first year of acquisition.

Source: Exchange Marketplace

Let’s take a look at one more listing to fuel you up and motivate you to start your $100k journey. 😃

Source: Exchange Marketplace

This one is a great buy in my opinion. The asking price is $7,000 and it generates $9,000 every month in pure profit!

NOTE: If you are wondering about the stats, let me assure you that the stats are correct and genuine because the platform, Exchange Marketplace, is owned by the eCommerce giant Shopify.

With the store in hand, you would have $3,000 left out of your $10,000. With a little more push in advertisement & marketing, you can scale the business to great heights.

Final thoughts

To conclude, let’s revise the ways to turn $10k to $100k in one year (or less):-

  1. Trade in the stock market
  2. Invest in the stock market
  3. Invest in cryptocurrency
  4. Create a dropshipping store
  5. Create an eCommerce store
  6. Start a side hustle
  7. Affiliate marketing
  8. Create a print-on-demand store
  9. Buy a business

I hope you enjoyed & learned something from the article as much as I enjoyed writing it. Please take a moment to share it with someone who would want to read it. Now go ahead and TAKE ACTION! 💪

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