You should make about 600k gold off of step 1.If you have 50 woodcutting, it is a lot easier to chop maples. Maples sell for about 90-100 each, and they are moderately high in demand. There are maple crops all around seers village which makes banking EASY. Chop maples and sell them until you reach 60 or 70 woodcutting. 70 is recommended for step 3. If you cut until 70, you should have made about 4 Million gold.
At 70 woodcutting, you will be able to chop yews very easily. The best yew chopping spots are at Edgeville, The Tree Gnome Stronghold, and Seers Village. If you are a member, plant yourself at seers village and chop until level 75. If you are a non member, plant yourself in edgeville and chop forever. You can make up to 200k an hour chopping yews as a non member. Yews sell for about 300 each.
When you reach level 75 woodcutting, you should have made about 2.2 Million gold, which makes your total gold earned from woodcutting 6.8 Million. Ok, so you are level 75 woodcutting… you can now chop magics. These sell for 1k-1.1k each. I suggest you buy a dragon woodcutting axe, because you can make millions a week on magics. Set yourself up behind the duel arena. There is a bank right by, and the trees aren’t as crowded.
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The best way to make your first million is by using your character’s skills. The 2 best money making skills are Fishing, Woodcutting, and the skills that branch off of those. Raise your woodcutting to 30 so you can chop willows. Chop willows and sell them for 30-40 each. Willows go very very fast if you chop in draynor village or seers village, so this is very quick money. Once you raise your woodcutting to 50, proceed to method 2 (If you are a member).