Imagine you had a money printer. Every time you put a dollar bill in it, it creates another one.
What would you do if you wanted to make as much money as possible? Easy. You’d want to print those dollars as fast as possible. Imagine the monthly income: unlimited!
Unfortunately, money-printing is illegal. You could try to print cash or hack into your bank account. But you face the risk of going to jail or something like that 😛
Let’s make a better question. How can you double your money legally?
You’d be surprised to know all the possible ways to do it. We call them investments, and to double your money, you have to increase your risk. Otherwise, you have to reduce your speed and wait longer.
Back to the same question. How to double your money legally, risk-free, and fast?
Believe it or not, these machines exist in the real world in the form of income streams. So the harder you work, the more you double your money. The problem is, you have to put “dollars in this printer”, again and again, to keep doubling the money. If you stop for a break or go to sleep, you won’t be making money at that time.
Meaning: your time is limiting how much money you can make.
Let’s upgrade again. To double our money, we need a system that’s legal, risk-free, fast, AND automated.
Once again, this exists in the real world. But it’s not enough to have a money printer. What if it works today but it stops working tomorrow? Maybe the machine breaks and starts to shred dollar bills instead. Or there’s a limit to how much money you can double.
Problem? Back to the question…
To double our money, we need a system that’s legal, risk-free, fast, automated, and SCALABLE. So there’s no limit to how much you can print at once.
Do you think such systems exist? Well, if they do, you still need something else to make it work. Guess what it is?
A dollar bill!
You need money to make money. If you have ten bucks, you get twenty. But if you put 20 million, you could get 40 million for the same amount of time.
Enough beating around the bush. Does such a thing exist or not? Probably not, but we know systems that get as close as possible to this ideal scenario. Keep reading.
How to Really Double Your Money?
It’s not rare to find videos and articles teaching you “how to double your money.” But as you can see, you miss a lot of context without all the other variables. You click on the video expecting to find your money printer, but you find out it’s not as brilliant as you expected.
So it’s not enough to just double the money. You still need to assess:
It’s unlikely that you find a model with all five. Every system has its pros and cons. But what we can do is show you the best and worst business model for each purpose.
Can you lose your money while trying to double it?
This possibility is worthy of your consideration. Of course, doubling money is possible. But when your goal is to have as much as possible, you can’t afford to lose what you already own.
If you’re more likely to lose than to win, you could end in the red. But if the reward is big enough, it might be worth going against the odds.
It all boils down to one question: what’s your risk-reward tolerance?
Risk is attractive because it usually means more speed. But you can lose as fast as you can win.
- Most Effective: Index Funds
We’ve chosen index funds because it’s the most trusted universally. Do you think index funds have no downsides? Well, here’s one. IT TAKES TOO LONG. Which isn’t a problem, assuming you have millions in the bank.
A great tool to stay rich. But to get rich, you need to invest in DECADES earlier.
- Least Effective: Gambling
Wait, isn’t that the answer you wanted? Think about it. If you go to a casino and win, you could double your money within minutes. And if you could always win, it wouldn’t be long before they kick you out. But more often than not, you’ll LOSE money.
A second-best answer is trading. You have more tools to assess risk. But at the end of the day, you have little to no control of your earning ability.
How fast can you double your cash?
Let’s be real: ANYBODY can be a millionaire if you give them enough time. Some may take ten in months and others a thousand years, but as long as the person wants to, it will happen.
Now, speed is the difference between being a millionaire and being rich. Because time is more valuable than money.
You need to make money fast to use as much of it as possible. Otherwise, doubling your money is useless.
What do you say? It sounds cool, for example, to spend $100 in Coca-Cola stocks in 1929, then be a millionaire by 2010. It’s just not feasible.
- Most Effective: High Income Skills
Not only you can double money this way. With every dollar you spend, you can make ten dollars back, if not more. That’s because this strategy allows you to make money almost for free.
All you need to do is research the market to know what kind of services people need. Typically, the most paid have to do with sales, including copywriting, web design, coding, funnel building, public speaking, content writing, advertising, cold calling, and so on.
Then, you pick one of those and spend some time training that skill. You can do it for free, but if you spend money, you’re going to speed up the process.
Next, you can throw a few other dollars to find clients. Maybe you post an ad or pay to send a proposal to a business owner. If your skill offers them good value, they’ll give you good money for it. And because they trust you, they are more likely to do business again in the future.
We’re not going to lie. It takes time, and you can only make money when you work. But when you have little to nothing, it’s the best way to multiply those dollars.
- Least Effective: Investments
Investments in general — especially bonds — take too long to double. As a passive income stream, it makes sense. But in order to make it worth your time, you’re going to need A LOT of dollars.
Sure, you can try HYIPs and trading. But then, the risk of losing increases.
Can you use your money to make even more?
We don’t need to tell you how easy life is with money. There are many passive, low-risk systems to multiply your money. And because our limited expenses have a certain limit, you can keep growing your fund without doing anything. A 5% monthly increase could mean $20K in passive income per month.
But the same 5% doesn’t mean much when all you leverage is $100. Don’t waste your time if you don’t have much money (unless it grows fast enough).
- Most Effective: Any investment
The slowest investments usually have the lowest risk. And if you have a large sum, that could be enough to fund your lifestyle and keep earning passive income for life.
You can invest in US Treasury Bonds (AAA standard). It almost guarantees you’ll get your money back (plus interest).
- Least Effective: Traditional jobs
It doesn’t matter how much money you have saved. In a job, all that matters is how long you work (8h per day at most) and how well you do it.
When the system depends on your time exclusively, that limits how much you can make. Yes, you can double your money (until you run out of time).
And while you can earn back lost dollars, you can’t get back your time.
How long do you need to work to double that money?
Don’t confuse this with speed.
If you want to make more money without having to work harder, you need to reduce your Time. This is possible when you delegate your activities and automate the repetitive ones.
There’s a cost to saving time. But because it’s worth more than money, you’re earning much more in the long run.
- Most effective: Owning an online business
You could say any business model meets these criteria. But online companies are easier to manage in particular. You can make six to seven figures per month all by yourself. If you want more, you can create a team to work with you remotely. And that doesn’t take a lot of management.
It gives you the freedom to hire anybody in the world, which gives a lot of options when it comes to rates and skill levels. You can outsource almost anything you want.
- Least Effective: Any active-income stream
It’s no secret. You won’t get very far with a job. At least, we haven’t met any employees who live the millionaire lifestyle.
Sure, if you have a high-income skill, you can get close. But that’s not nearly as much as you can make with an automated business.
It doesn’t matter if you work 100h per week. A business owner can leverage time and put, say, 5000h per week with enough employees.
Even though you can increase what you charge for your time, you can’t improve your hourly service forever.
How many times can you double it?
Now, everything has a limit. There are only so many people on the planet. But with 7,600+ million, that should be enough to keep doubling money for a while. Plus, the same client can buy from you again.
As for the money, there’s no limit to how much you can have because it’s an invention. And with digital currency, you no longer need to count dollar bills.
In advertising, scale answers one question: how much money can you spend in one campaign while keeping it profitable (200% in this case)? The moment you reach a cap, you need more sources of traffic to increase it.
But some business models have no limits. But to explain this, let’s start with the worst one first.
- Least Effective: A job
Suppose you’re very skilled at one job and get a lot of clients. You’re so good that your clients bring new ones via word-to-mouth. Here the relationship:
- You do high-quality work
- Your work satisfies clients and brings new ones
But you only have so much time available. So you have two choices.
- You work with more customers but have to spend less time with each. This lowers the service quality they receive which in turn lowers your number of clients.
- You could also raise your rates. But eventually, people would find it unreasonable. So you’re stuck in your income level.
- Most Effective: The Flywheel Model
Here’s the most iconic flywheel example. Amazon.com:
- Amazon sells many products, which attracts customers
- Customers attract more sellers to the platform
- When there are more sellers, more products appear on Amazon
Not only that but:
- Sellers who spend money will rank better
- Higher rankings mean more sales
- More sales mean more money
Not only that but:
- More customers will increase seller competition
- Which lowers prices for buyers
This model is designed to profit faster and faster. It’s how Jeff Bezos became one of the richest men in the world.
Here’s The Catch: 2X0 = 0
You now know what you need to double that money. But I know you’re thinking: “Should I worry about speed? Should it be Risk? Maybe scale instead?”
You certainly won’t find all the five. And the good news is, you don’t need them. Depending on the money you’ve earned so far, you have different priorities.
For starters, it’s speed and only speed. For investors/business owners, it’s everything else, starting with the Flywheel.
Look, there’s no point in doubling money if you don’t have enough money. You can do it, but it’s not worth the time.
So in the beginning, you’ll move a lot faster if you sacrifice scalability and time. As for risk, you don’t have much money to lose anyway, so you can be more aggressive with your strategies. When you can’t leverage money, you need speed.
That’s the problem with most websites teaching you how to double your money. They’re designed for those who want to stay rich, not get rich.
Ask yourself: Why don’t I have enough money?
If it’s an income problem, it’s time to work harder. Learn a high-income skill, create a product, or start a side hustle along with your 9-to-5.
If it’s an expense problem, it’s time to lower your living standards. You can increase your speed if your living expenses are minimal. But that means living frugally for a few months, so you can live better later.
If it’s a tax problem, consider moving to another state. There are seven states where you pay little to no taxes. Maybe Alaska isn’t for you, but there’s always Florida, Texas, or Nevada. And you can move to cities like Dubai. If you plan to earn millions in your lifetime, imagine what that decision will save you.
Actual Methods To Double Your Money
Now that you got a plan, let’s see what you can do right now to double those dollar bills.
The answer may surprise you a bit. Because there are so many ways that don’t relate to money directly.
The five we’re about to share should be more than enough. Two tips for workers, another two for business owners, and one for investors.
Double your productivity
How much work can you get done in a day? Depending on your habits and clarity at work, you can double your results. Some people get more done in a day than most get done in a week.
If you’re already working hard, this may sound impossible. However, the hours you put in have little to do with the results you produce. And they say 80% of your actions come from 20% of hour results.
Every day you wake up, you have enough energy for three hours of deep work, four at most. If you use them the right way, you can get those stellar results.
Now, getting into deep work mode isn’t easy. Learn more about the triggers you can use to enter the flow state.
Get the same results in half of the time
This may first sound like it’s the same as what we just talked about. But doubling your productivity is about focus. Cutting the time in half is about time management.
When you combine both together, what do you get? 4X Results (or 2X at the same time).
Here are some management tips you will find helpful:
- Create time blocks in your day where nobody can distract you
- Work on your project first thing in the morning
- Reduce the number of decisions you make
- You create a to-don’t list to know what’s wasting your time and avoid it
- You hire people and create systems to do minor tasks for you
Don’t work harder, work smarter. And once you know how to work smarter, you can work harder too.
Double your conversion rate
We often underestimate how much money we can make from increasing conversion rates. After all, it’s just the chance that a new client buys your product.
One thing we know for sure is that creating organic traffic is HARD, especially at the beginning. It’s a lot easier to increase conversion rates or target a higher public.
Think about it. If you sell a $100 product, you might have 4% conversions. If you sell a $5000 product, it may go down to 1%. You raise the price 50 times, but conversions only fell by 4.
Conversions are tricky because they require you to build a relationship with your potential customers. After offering a lot of value, those leads may turn into customers.
So the next time you worry about your profits, please, don’t start building another product. There’s so much room to improve the existing one, and it’s much faster.
Say your sales page converts 1%, and a copywriter rewrites it to convert 2%. You may have spent a hundred dollars on that, but you just doubled your annual revenue.
Here are other ideas:
- Target a narrow audience with advertising
- Add more videos/webinars in your sales presentations
- Offer more “gifts” via opt-ins and emails
- Create a sales sequence starting from <$50 offers
- Find out how to make the same customers buy from you again
- Move from one-time to recurrent payments, which is more than 2X in the long run
Identify and fix the “bottleneck”
Here’s one of the hardest truths to learn in business:
You don’t move as fast as your “best runner,” but as fast as your “slowest runner.”
In other words, your potential is limited by the weakest part of your company. And this part is going to cancel any other advantages you have.
So it doesn’t matter if you put months of work. If one of the processes fails, you don’t make any money. Here are examples:
- You built a killer email sequence, but people don’t want to join the list in the first place
- You have a great product, but your sales page has no conversions
- Or you have a great sales page, but you don’t have a sequence to mentally prepare people to buy
Where is your bottleneck? Traffic? Sales? Demand? It’s the difference between making no money and making 2X (or more). And it doesn’t take 2X more work.
Put 99% of your money to work
Back to the money printer analogy, we said you can make more money when you print more dollars at the same time. So yes, there’s a lot of income potential. But until you put your money to work, it’s as worthless as a piece of paper.
Would you consider it smart to put 100% of your money in a savings bank account? Let’s ignore the low liquidity this causes.
In an ideal world, you keep as much as you save. But you have a cost of living plus taxes, so that number will go down. Consider inflation: your fortune is worth less and less. Say your bank closes for some reason: you may not be able to access your fund.
You can’t double your money by just storing it in a bank account. It needs to be working somewhere.
What would you do if you received a million dollars right now? That’s not a lot of money. I’d reserve about 1% for living expenses and invest the rest. Next year, you have two million dollars, if not more.
You still need to store some money for cash flow and emergencies. But most of it should be on long-term investments (so they tax you 0% on capital gains). And because you’re almost broke, that motivates you to get out there and make more.
When the risk is so low, you want to double your money as many times as possible.
The Bottom Line
Did you learn a lot from this guide? Let us know in the comments what strategy worked better for you.
Keep in mind you don’t need to use them all at once. Decide what your focus is going to be (low risk, high speed, money leverage, automation, scalability) and choose the most convenient tactic accordingly.