Basically, if you want to make $400k a year, you’re not alone and it’s very much doable. You can make it happen without getting some of the finest white-collar jobs in the Universe. $400k a year broken down into months equates to approximately $33,500 dollars every single month.
That’s a lot of money. Surprisingly, you can make more with the methods on this page. They’re not magical methods, and they require your input to work wonders.
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With that being said, here are 11 working ways to make $400k a year.
How to Make $400k a Year in 11 Really Smart Ways
Start a Blog on the Side
Blogging on the side can take you to $400,000 a year. But it’s not that easy. You don’t start making money the very first day you start a blog. For example, I run a blog. This is my first “successful” blog.
It’s a success to me right now because it’s the first blog that’s made me over $100 bucks for the first time in all my attempts at blogging and making money online (other than the times I spent trying to make it work with crypto).
So, when I started blogging on this blog, it took me time to get to $100 bucks. And then it grew. Hopefully I’ll share my reports after my first year (this is my 10th month (as of May 2023).
So, in July, I’ll release my one-year blogging report. And I hope it’ll help a lot of beginning bloggers out there. Moving on, you can make a lot of money with a blog.
But it doesn’t happen overnight. Whether you’re planning to scale through outsourcing the work to writers or you plan on doing it yourself, it’s a lot of work altogether. You just have to understand how to build a blog from scratch and then you can grow from there.
I’ve got you covered with this guide.
Flip Houses
House flipping is something you can do if you want to make $400k a year. It’s realistic to flip houses and get a profit of over $400,000 dollars. This means you’ll be dealing with properties worth millions and millions of dollars. House flipping is a real business if you’re a realtor.
But if you’re rich and you have some personal properties, and you want to make $400k a year, then you can get into the business easily; starting with your own properties.
All you really need to do is to source for buyers. If you’re an agent, a real estate agent or a property broker, then you can source for both buyers and sellers. Right now, you can start looking for houses to sell as a broker while you source for the original property owner to discuss deals.
Generally, you can keep anywhere from 5% to 10% off the sales of a property as a broker, depending on the price and the initial agreement you have with the owner.
Affiliate Marketing
Affiliate marketing is easy if you’re already conversant with the concept and you have a follower base on the internet. This is one hustle or online business that can introduce a pathway to financial freedom; earning passive income on autopilot.
So, as an affiliate marketer, you basically promote products online. These products aren’t your own products. They’re either products by other people or by companies. When people buy these products, you get paid. But they must make a purchase before you’re paid. Affiliate marketing is one of the top notch online businesses that can change your entire life.
It’s still a lot of work though. And there are several ways to make it work. Learning to do affiliate marketing is cheap. You don’t need to buy a course or pay money to become a part of some community online.
It’s free, and there are tons of pro affiliate marketing guides online free of charge.
Start a Hair Salon
If you can cough up the money to launch your own hair salon for males and females, then you can make up to $400k a year in pure profits. This is one of the fastest moving businesses that you can start and generate passive income from. You don’t have to work there.
You also don’t need to be a pro hair stylist to start up something like this. Once you’ve got the idea, you can start up something like this and hire professionals to work for you.
Personally, I run a barbering salon. I barely had time to focus on this blog because of this physical business of mine. But right now, I have a staff working there while I spend my time anyhow I choose to.
The point is: if you want to make $400k a year, opening a hair salon can get you there. It takes a lot of time to grow though especially if you don’t have enough capital to market your business or to start mega enough to make every competition in your vicinity look small. That’s another thing; you’ve gotta kick off from the right location that’s good for business.
Book Publishing
You can look at this in two ways. Firstly as a publisher. And secondly as an author.
- The Publisher: You help authors compile and publish their books to the world. You’re basically a publishing company here like Penguin/Random House, Harper Collins, and Hachette Book Group. You’re stepping into the picture as a competitor in the game, on a smaller scale. But if you hold the capital to go pound for pound with these firms, then you could make millions. Book publishing as a publisher requires a lot of experience. This means you can’t just jump into the biz without experience even if you’ve got all the money to make it work.
- The Author: It’s simpler in this region; you write your book and hand it to the publishing house to make it a book in whole. This way, you’re looking at the publishing space through the spectacle of a writer. You write, you make money. This could make you a millionaire if you’re already a voice in a niche or you coauthor with a voice in a niche. While it’s possible to rise to fame and wealth with a single book as an exceptionally good writer with no prior track records, it’s easier for people to accept you when your name’s been heard of somewhere before.
Whichever path to book publishing you choose to explore, it’s realistic to aim for $400,000 in profits in a year.
But taking the publishing route would cost you more money and other forms of resources.
Ecommerce
There are millionaire entrepreneurs today who haven’t crossed 30, and a lot of them are in the e-commerce biz. So, if you want to learn how to make $400k a year, learn the ways of e-commerce.
It’s an evergreen niche, and people will always need the services of an ecommerce platform whether they’re dealing in the physical or digital products game. Starting an ecommerce website doesn’t have to be difficult, thanks to Shopify.
You can build yours in minutes.
Zero coding.
Zero technicality.
Zero {command prompts}.
It’s usually a seamless approach with platforms like Shopify. And it’s not free either.
After launching your e-commerce business off the ground, you want to promote it so that you’re getting enough clients to make enough sales and of course, realize enough revenue.
For the record, it’s not easy to build a successful e-commerce business. And that’s why you’ll need to learn beforehand.
Build Apps
It doesn’t have to be the next Tiktok. But building your own app can generate millions of dollars for you. If you’re techy, then this should be easy.
If you’re like me (and you’ve got a fear of physics too), then you just need to think of the idea and outsource the coding to techies. Come up with a brilliant idea for an app, and let the coders write it to life for you.
It’s not all that simple. I’m getting stuck with this phrase but it takes time to get everything running from ground. The most important part is having a clear idea of your app, what it exists for, the challenges it’s out to combat, the pleasure it’s out to diffuse, and the revenue it ought to generate.
Grocery Stores
People visit grocery stores every single day. And it’s a good thing because they get what they want. Therefore, building a grocery store of your own is one of many things you can do to make $400k a year. It’s realistic.
And it also takes a lot of time and requires a lot of money. But if you’ve got around $150,000 dollars, you should be able to start up your own grocery store. For real, it’s easy to start more when you already have just one that’s doing exceptionally well. You can’t get location wrong with this kind of business. Location is everything.
YouTube
If you think YouTube is just for the fun of watching videos and learning something online, you’re wrong. But not terribly. On YouTube, you can make money. YouTube joins the list of some of the ways on how to make $400k a year.
It’s not going to happen pretty fast, but if you browse through search engines for a list of richest YouTubers, you’ll find that the majority of them generate over $40,000 monthly through their YouTube channel.
You too can do the same. If you’re consistent and you stick to a niche, and you choose to be creative with content instead of refurbishing what’s already out there. Uniqueness is what people really take interest in.
Additionally, you can start generating income from your YouTube channel by switching on the YouTube partner program as soon as you cross 1k subs.
Podcasting
Podcasting is another one I love to share about. It’s basically starting a show that can be audio recorded or video recorded. Podcasts are basically audio contents, but they can be videos too.
So, you pick a niche and create audio contents around them that you upload to your podcasting blog. Or a video that you can share on YouTube or some other social media platform.
One way to make a podcast grow is to invite other hosts or authors, or popular speakers on your podcast. You keep doing this over the long haul, then you can definitely generate hundreds of thousands of dollars in revenue by the end of the year.
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Check Cashing
If you’re thrifty, then you can definitely generate up to $400k a year with a check cashing business. What’s needed is for you to have an idea about it (if you’re a total dummy yet), and then look for the right place to start off from.
Check cashing is highly lucrative. It saves people the time they’d waste at the bank to cash their check, and they pay a little more; which is fair.
So, if you want to make $400,000 a year, consider starting your own check cashing venture somewhere in the city.
How to Make $400k a Year in 11 Really Smart Ways – Summary
Some of the best methods to make $400k a year include launching a YouTube channel, flipping houses, getting into affiliate marketing, launching a blog of your own, building mobile apps, opening a grocery store, publishing a book, podcasting, starting a check cashing business, e-commerce business development, and starting a unisex hair salon to groom men and women’s hair.
So, depending on how you’re able to scale with any of these methods, $400k/year is obtainable but not easy. A lot of people don’t get to make this money in their lifetime. Consider giving it your best shot.