How to Get Rich Quick in India?

So you want to get rich quick?

I get it. A lot of people want to make money quickly.

In this guide, I’ll cover all the genuine ways to get rich quickly in India.

Overview

#1: Become a Published Writer

Overview:

Time Required: One Year
Difficulty Level: High
Probability of Success: Low
Investment Required: Rs 10,000 if you self-publish.

Details:

J K Rowling one of the richest authors — J K Rowling: Estimated Net Worth of $953 Million

JK Rowling, the author of Harry Potter, is a classic rags to riches story. However, she didn’t become a famous author overnight.

The first story Rowling wrote was when she was five years old – the story of a Rabbit.

Rowling thought of Harry Potter when she was 25. The first book, Philosopher’s Stone, came out when she was 32.

There are several other successful authors from India – Chetan Bhagat, Amish Tripathi, etc. who quickly shot to fame.

That doesn’t mean that you have to toil for years. If you have a brilliant idea for a book and can write eloquently, you might have a blockbuster in your hands!

How to make money as an author?

Pitch your idea to a publisher. If they like the idea, they will pay you an advance and give you time to complete your book.

However, if you are unable to work with publishers, you can always self-publish your book.

#2: Start a Blog

Overview:

Time Required: Six Months
Difficulty Level: Medium
Probability of Success: High
Investment Required: Rs 5,000

Details:

Starting a blog is the recommended option if you are looking to get rich quick.

How to make money with a blog?

Here’s a simple plan you can follow:

Identify a theme for your blog – cooking, tech tips, programming advice, etc.
Create a blog. Here’s a step-by-step guide
Start writing
Consistently create great content
Capture leads
Monetize your user base through ads, affiliate product sales, and direct brand tie-ups

#3: Drop Shipping

Overview:

Time Required: Six Months
Difficulty Level: Medium
Probability of Success: Medium
Investment Required: Rs 50,000 +

Details:

Dropshipping is a simple concept.

Step #1: Identify unique products that you can sell to people.

Step #2: Find a supplier who can create the product and ship it directly to your customer.

Step #3: Create a web-store with Shopify.

Step #4: Promote your website.

Step #5: Provide customer support.

Unlike traditional e-commerce businesses like Flipkart or Amazon, you don’t have to deal with inventory, shipping, or logistics.

Pro Tip: It’s common for drop shippers to source products from AliExpress or other Chinese websites. However, shipping times can be as high as 3 months. When Amazon and Flipkart deliver items the same day, your customers are not going to wait for months. Find a local supplier who can create and ship for you.

How to make money with dropshipping?

The key to making money is to find unique products that have high margins.

Selling an HP laptop is going to be difficult because established e-commerce sites are competing with you.

However, selling unique key chains online can be profitable and easy to manage. The higher the cost of the product, the more difficult it is to sell.

Pro Tip: The majority of your investment will go into promoting your website. The idea is to drive cheap traffic that provides high ROI.

#4: Win a Lottery

Overview:

Time Required: 1 Minute
Difficulty Level: Near Impossible
Probability of Success: Extremely Low
Investment Required: Rs 50

Details:

Most people have a better chance of being the President of India than winning a lottery.

However, that does not stop people from buying a lottery. The idea that you can change your fortune overnight is too hard to resist.

In states like Kerala, the government runs the lottery. Some states have even banned lotteries.

Daily wager won Rs 12 crore Kerala lottery

Currently, the following states allow lotteries – Kerala, Goa, Maharashtra, Madhya Pradesh, Punjab, West Bengal, Assam, Arunachal Pradesh, Meghalaya, Manipur, Sikkim, Nagaland, and Mizoram.

Pro Tip: Do not waste money with lotteries. Instead, focus on other achievable ideas in this guide.

#5: Inherit Wealth

Mukesh Ambani wealthy family india — The wealthiest family in India

If you were lucky enough to be born into a wealthy family, there isn’t much you need to do.

Usually, Indian parents transfer their wealth to their kids. And India does not have an inheritance tax.

Wait until your parents are confident that you can handle the wealth bestowed upon you.

Pro Tip: Inheriting wealth is easy. Staying wealthy is harder. If you inherit wealth, work hard to grow your wealth. You owe that to your parents and your future generations.

#6: Participate in Contests like Kaun Banega Crorepati

Overview:

Time Required: One Year
Difficulty Level: High
Probability of Success: Low
Investment Required: Rs 10,000

Details:

Contests like KBC require luck and knowledge. If you are skilled enough and lucky, try participating in contests where you win money.

Pro Tip: The side benefit of appearing on TV is that it opens up other venues for you. Even if you don’t win a lot of money, people will notice you. And that can lead to other exciting wealth creation opportunities.

#7: Join an Early-Stage Startup

Overview:

Time Required: One Year
Difficulty Level: High
Probability of Success: Low
Investment Required: Zero

Details:

Startups are often a hit-and-miss scenario.

If you join a fast-growing startup for equity, and they get acquired, you make a lot of money.

But that happens very rarely in India.

Sure, there are stories like Graffiti artist making $200 Million from choosing Facebook stocks over cash.

However, startups exits in India are rare. Exits, where employees make a lot of money, are even rarer.

Pro Tip: Joining a startup to become rich is a bad idea. Join a startup if their mission excites you. Otherwise, during bad times, you will bailout. People who make money in startups often go through the ups and downs of the company.

#8: Be a Master Trader

Overview:

Time Required: One Year
Difficulty Level: Very High
Probability of Success: Low
Investment Required: Rs 10,000 +

Details:

There are stories of people making crores from the stock market. Most often, they are made up stories and fake screenshots to lure you into paying for some course.

Think about it – if someone is making crores monthly from stock trading, why would they tell you the secret? It’s common sense.

However, many people make a living off the stock market. Futures and options let you scale your bets without having access to sufficient capital.

Make the right moves, enough times, and you can become rich.

Want to learn trading, including future, options, scalping, trends, etc.? Learn App contains a lot of excellent video courses from industry-leading experts.

Warning: Most people who try margin trading end up losing more money than they invest. Be very careful when you get into the stock market game.

#9: Get Into a Top B School

Overview:

Time Required: One Year
Difficulty Level: Very High
Probability of Success: Medium
Investment Required: 1 Crore +

Details:

USD 105,900 is the median salary for the INSEAD class of 2019. If you manage to get into one of these top b schools, it’s safe to say that you might end up with a job that pays you $100K +.

While that might not make you rich, it’s the career path most of the rich people took to reach where they are.

Pro Tip: An MBA is a costly and important decision. Consult a career counselor before taking up an MBA for a pay hike.

Overview:

Time Required: Six Months
Difficulty Level: Medium
Probability of Success: Medium
Investment Required: Rs 25,000

Details:

Social media is all the rage now.

If you can create videos that people crave to watch, you can become an influencer on YouTube, TikTok, Instagram, and other social media channels.

Brands today prefer to work with social media influencers to promote their products. And if you have a significant following, you stand to make a lot of money.

Pro Tip: You need a sizable follower number if you want to work with big brands. Focus on organically growing your follower list by consistently producing excellent video content.

#11: Become a Real Estate Broker

Overview:

Time Required: One Year
Difficulty Level: High
Probability of Success: Low
Investment Required: Rs 5,000

Details:

There is a reason every autowala, cab driver, and chaiwala is a broker.

Anyone can become a broker in India!

If you luck out and close even one deal, you might make enough to survive for an entire year.

Pro Tip: Every territory has local brokers. Breaking into a new area is not easy. A lot of times, due to the amount of money involved, you can get manhandled by local brokers. It’s better to start by working with established brokers. You can branch out independently once you build enough connections.

#12: Provide Bridal Services

Overview:

Time Required: One Year
Difficulty Level: Medium
Probability of Success: Medium
Investment Required: Rs 25,000

Details:

One of the beauticians in my hometown charges Rs 30,000 per bridal makeup. She has 4-5 such engagements in a day.

Assuming she works ten days a month, for a year, she will make close to Rs 2 crores in a year!

And most of the famous beauticians already make that kind of money.

Do you have the skills to offer bridal make up?

Pro Tip: Focus on one segment, to begin with – e.g., Hindu brides. Expand as you make more money and hire competent staff to help you.

#13: Open a Tea Stall

Overview:

Time Required: One Year
Difficulty Level: High
Probability of Success: Medium
Investment Required: Rs 10,000

Details:

Would you believe that a small tea vendor on the roadside in Bangalore makes a profit of more than Rs 1 Lakh a month?

No kidding!

Here’s the math:

Cost of a small cup: Rs 10
Profit Per cup: Rs 7
Tea sold per day: 500 cups = Rs 3,500 profit
Tea sold in a month (25 Days): Rs 87,500 per month
Profit on snacks and other items sold per day: Rs 1,000
Snacks Profit (25 Days): Rs 22,000 per month
Total Profit: Rs 1 Lakh +

Warning: Not all tea vendors can make a lakh every month. The location has a significant impact on tea sales. Plus, you need to bribe the local police often. It’s also a lot of hard work. Most tea vendors start very early and close very late.

#14: Marry Into a Wealthy Family

It’s common sense that you should not marry for money. Unfortunately, we do not live in a perfect world. Many people will marry for money.

Warning: Marrying into a wealthy family does not guarantee that you will get money. Asking for dowry directly or indirectly is a severe crime in India. Marry for love, not money!

#15: Become a Top Programmer

Overview:

Time Required: One Year
Difficulty Level: High
Probability of Success: High
Investment Required: Rs 25,000

Details:

Top programmers are paid insane amounts of money.

Not only do they make a ton of money, but they also get a lot of flexibility. There are several companies hiring engineers remotely. That means you can take home US salaries while working from a cozy and cheap location in India.

Pro Tip: Don’t try to be a jack of all trades. Build deep expertise in one or two technologies. Work on open source projects to build up your portfolio.