Question for Experienced Investors and Entrepreneurs

[OVOvince]

So one of my acquaintances invests and I rarely ever see him around. He once told me that the hardest thing is to make 1 or 2 million, but once you have that much money generated, it's super easy to make 50 million with that in a short time.

I can see that he does really well every time he goes to Vegas and shows us what happened. Sometimes my other friends go with him and they experience it as well.

But anyways, I once came across this principle or whatever online, but it was brief and only a mention, saying it was the "momentum of money". I can't seem to find any information on that principle. Can someone explain or show me what this is?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[IceCreamKid]

But anyways, I once came across this principle or whatever online, but it was brief and only a mention, saying it was the "momentum of money". I can't seem to find any information on that principle. Can someone explain or show me what this is?

I've heard this concept referred to as the velocity of money.

Why in the world does your investor acquaintance feel the need to show you how well he did in Vegas though? Does he have something to prove? The older I get, the more I realize the need to keep my guard up. The guys who are the real deal don't feel the need to proclaim their achievements because they already know they've got the goods.

I once had a mentor from this forum...I forget his name. If I ever met you in person then his name might magically come back to my memory. The guy talked a good game, said all the right things, but ultimately turned out to be the biggest liar I've ever met.

[HASHTAG]#legendaryliar[/HASHTAG]
[HASHTAG]#NLPcanbeusedforevil[/HASHTAG]
[HASHTAG]#researchyourmentor[/HASHTAG]
[HASHTAG]#trustbutverify[/HASHTAG]
[HASHTAG]#happysaturdayeveryone[/HASHTAG]

 

[Vigilante]

I have heard this explained differently. Once you know how to make money (or build a company) you can scale it, and scale it. Money attracts money. Once people trust that you know how to successfully navigate, it attracts more or easier capital.

Once you have built a $2m company, chances are you can build a $20m company. You know better how the world, and the major leagues... work.

Integrity is usually a critical component though in longevity.

 

[MJ DeMarco]

I once had a mentor from this forum...I forget his name.

Glad to hear that... many of us are still working on perfecting the concept of selective amnesia.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Mike Kavanagh]

Pushing the rock up the hill is the hard part. Once you make it, what ever that thing is, you can snowball down the other side of success

Once you know how to make money (or build a company) you can scale it, and scale it.

Kind of like what @JasonR said about find a way to make a $1.40 off of every dollar you spend. Then spend more on that method.

 

[OVOvince]

I've heard this concept referred to as the velocity of money.

Why in the world does your investor acquaintance feel the need to show you how well he did in Vegas though? Does he have something to prove? The older I get, the more I realize the need to keep my guard up. The guys who are the real deal don't feel the need to proclaim their achievements because they already know they've got the goods.

I once had a mentor from this forum...I forget his name. If I ever met you in person then his name might magically come back to my memory. The guy talked a good game, said all the right things, but ultimately turned out to be the biggest liar I've ever met.

[HASHTAG]#legendaryliar[/HASHTAG]
[HASHTAG]#NLPcanbeusedforevil[/HASHTAG]
[HASHTAG]#researchyourmentor[/HASHTAG]
[HASHTAG]#trustbutverify[/HASHTAG]
[HASHTAG]#happysaturdayeveryone[/HASHTAG]

Thanks for that, I will do research on this.

As for my friend, he didn't necessarily "show off". I guess I worded it wrong.

He has business in Vegas, so he goes there a lot. Usually our circle asks him about how the weekends and nightlife are there, and he says it's great and whatnot, but no one really has a clue until they go with him and experience it. So a few of my friends go with him from time to time and they always tell the rest of us who didn't go, about what they did.

I won't say that he doesn't show off at all, but i've seen a lot worse. We are just young in our early 20s, Id say he is pretty mature for our age.

 

[odihost]

Yes, the first million is usually the hardest. Once you reached that, you usually have the right mindset. Once you go over 1 million, it's a different game. All strategies after that.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[OVOvince]

I've heard this concept referred to as the velocity of money.

Why in the world does your investor acquaintance feel the need to show you how well he did in Vegas though? Does he have something to prove? The older I get, the more I realize the need to keep my guard up. The guys who are the real deal don't feel the need to proclaim their achievements because they already know they've got the goods.

I once had a mentor from this forum...I forget his name. If I ever met you in person then his name might magically come back to my memory. The guy talked a good game, said all the right things, but ultimately turned out to be the biggest liar I've ever met.

[HASHTAG]#legendaryliar[/HASHTAG]
[HASHTAG]#NLPcanbeusedforevil[/HASHTAG]
[HASHTAG]#researchyourmentor[/HASHTAG]
[HASHTAG]#trustbutverify[/HASHTAG]
[HASHTAG]#happysaturdayeveryone[/HASHTAG]

lol craziest story ever man.

you were 100% spot on about my "friend" and i didn't even know it, but neither did any of us who were around him.


it turns out that the guy who told me all that in the OP is a scammer. he fled to Africa after being exposed recently.... LOL