Thread: $3,000 to $1,000,000 in 15 months: HOW TO DO IT

Hello,

I don't remember how I ended up in here but after reading 14 pages I've decided to register and try to make an effort to complete the challenge in the first post. I must also say that the thread (most of the posts in it) have been really interesting and some of them were quite motivational.
I must clarify that English is not my native language so if you have any troubles reading my posts, well... I apologize in advance.

I live in Lima, Peru and have taken the liberty to transform your challenge into my local monetary value (Peruvian Soles, or "S/." for short) which means that I will use S/.3k and try to earn S/.2.7M in 15 months. (Note: 1 USD = S/. 2.70) That means I will start with less capital but will have the same goal as you all do.

Anyway, I'm still shaping up the full idea but I will post any progress in here. Note that I'm a full-time dad and video-game designer, which leaves me little time for my own personal projects and that will be another obstacle added to the restrictions you set in the initial post of this thread.

The idea will have something to do with natural resources or tourism as I had studied those fields before and I'm still quite interested in them.


Greetings.

Well, welcome to the group. We wish you the best!

I have to say AWESOME thread that has led me to tons of thinking- Once I gather it all, I'll post it here! FYI- This thread led me to joining the site!

Originally Posted by jzchristian

I have designed a car that runs off its self. I have worked thru the math several times over and created a computer model.

You need to recheck your math, or better yet, learn math. Better learn physics while you are at it.

Computer models can be created to model physically impossible things. Its up to the user to make sure the model is correct.

History is full of "perpetual motion" inventors. They never seem to get the laws of thermodynamics (I'm an engineer). First law of thermodynamics - Wikipedia, the free encyclopedia

I will make it simple: You can never get out as much (or more than in the case of perpetual energy) as you put in. In other words, you will always get out less than 100% (in the form of work) of the energy you put in. Perpetual motion implies that you get more than 100%, because you can use the excess to perform work, such as propelling a car.

as an aside note, this is why I find business so fascinating, because it is possible to get more dollars out than you put in. Invest 100% of your dollars, and get back 110% or 1000%. Very fascinating compared to energy-work conversions, where you ALWAYS get out less than you put in.


Typical gasoline engine is roughly 13% efficient (thermodynamically speaking). Most of the energy (from burning gasoline) is wasted in the form of heat. Think of all that heat coming from your radiator and engine bay, and out the tail pipe. Typical diesel is 2x efficient at 26% (by the way, these figures are for running at constant speed at constant load, as acceleration is even less efficient).

Also, note this: Even if an engine were invented that was more thermodynamically efficient (the very best electric motors are close at 80% under constant load), its the LOAD (propelling a car) that takes energy as well. Rolling friction, air friction, mass of the car during acceleration, etc. Energy needed for the LOAD is another thing laypeople always seem to forget.

Then along comes "perpetual motion" inventors who claim they can get 110% or 150% (or whatever) work out of a system vs. the energy put into the system. BULLSHIT!!!

Frankly, I find it extremely insulting to all physicists and engineers the world over.


Consider this:
The CLOSEST thing we have to perpetual motion is stuff flying through space. Its not perpetual motion, its just momentum. (newtonian physics) A satellite will keep spinning once its set to spinning, but the moment you try to tap into that kinetic energy (like hooking up a generator to it), it grinds to a stop. You will get some energy out of the system before it stops, but it won't be 100% of the kinetic energy the satellite had before you tapped it. Some is lost in friction (turned into heat) by the generator bearings. Some is lost as heat by the generator itself by resistance to the flow of electricity in the wires. Some is lost due to imperfect magnetic flux. Some is lost due to entropy.

I could come up with examples all day long, but now its late and I'm tired.

The laws of thermodynamics have been proven time and again via mathematical proofs (correct math), and via real world experiments, by a bunch of dudes a heck of a lot smarter than me or you.

Perpetual motion is a myth perpetuated [sic] by the uneducated. The only perpetual motion here is the myth itself.

Lay people seem to think that the laws of physics can be "broken" just like the laws created by humans. This is not even the case. Laws of physics CANNOT be broken. Hence the phrase "it is physically impossible"

Originally Posted by scarab

... They never seem to get the laws of thermodynamics ...

Exactly, after all its not rocket science (er, well maybe it is!)

Originally Posted by scarab

Then along comes "perpetual motion" inventors who claim they can get 110% or 150% (or whatever) work out of a system vs. the energy put into the system. BULLSHIT!!!

Frankly, I find it extremely insulting to all physicists and engineers the world over.

We are constantly learning something new and disputing and adding to the existing knowledge. Most inventions and discoveries that turn the mainstream knowledge on its head and propel humanity forward is done by laymen. Experts have a very difficult time accepting the new reality as that would mean their entire careers were built on a false assumption. Of course most claims of perpetum mobile are bunk, but I don't like people talking in absolutes. Something that is "impossible" today could be very possible tomorrow.

I don't have such blind faith in experts, they are usually the last to change to new circumstances.

Experts of the day said that human flight is impossible, contradicts ALL laws of gravity etc. Do we have aeroplanes and all sorts of other flying machines today? You bet your bottom. I could name hundreds of similar predictions by "experts" that were proven wrong.

Originally Posted by roark

We are constantly learning something new and disputing and adding to the existing knowledge. Most inventions and discoveries that turn the mainstream knowledge on its head and propel humanity forward is done by laymen. Experts have a very difficult time accepting the new reality as that would mean their entire careers were built on a false assumption. Of course most claims of perpetum mobile are bunk, but I don't like people talking in absolutes. Something that is "impossible" today could be very possible tomorrow.

I don't have such blind faith in experts, they are usually the last to change to new circumstances.

Experts of the day said that human flight is impossible, contradicts ALL laws of gravity etc. Do we have aeroplanes and all sorts of other flying machines today? You bet your bottom. I could name hundreds of similar predictions by "experts" that were proven wrong.

Be careful with examples. I'd like to know which experts said flight was impossible. Before the Wright Bro's, HUMANS were flying in hot air balloons for years. Birds (heavier than air) had been flying for millions of years, so we had actual examples. The experts you speak of were wrong in the face of physical evidence at the time. Maybe they were not REAL experts.

I'm not sure who said the speed of sound could not be exceeded many years ago (I mean was it REAL experts, or psuedo experts?), but we had examples before powered flight broke the sound barrier--bullets, meteors, etc. Many do not know this, but the most likely human made object to exceed the speed of sound FIRST was the bullwhip (the crack you hear is the sound barrier being broken--I mini sonic boom).

It may even be possible to exceed the speed of light (but the jury is still out on this one). Law-breaking particle at CERN exceeds the speed of light - ComPost - The Washington Post

Also, my "faith" as you put it, is not blind. I'm a mechanical engineer, and I've worked the theorems, and did my thermo homework (along with fluid dynamics, heat transfer, etc.) back in college. Our homework involved working problems that are real world examples, for example, we had to learn many thermodynamic cycles such as Carnot, Diesel, Brayton, and so on. We had to work the math. In addition, we performed experiments on running engines (during my senior year, I had to spend several days with a very loud, stinky Allis-Chalmers diesel engine running inside of our lab, with it hooked up to a brake dyno. Don't forget, engineering is just applied physics. If there were any exceptions to the laws of thermo, we would have noticed them by now.


BUT, can you give me ANY examples (proven and real) of a violation of the laws of thermodynamics in nature or man-made?

it ain't gonna happen baby!

Most inventions and discoveries that turn the mainstream knowledge on its head and propel humanity forward is done by laymen.

Most inventions made by laymen, yes, discoveries I am not so sure about. If you take college level physics courses (with calculus, not the weeny version with algebra), you will find out that most of the original research that is the foundation for a lot of the physics (and engineering) we use today was discovered by scientists. Newton, Einstein, Niels Bohr, Gauss (statistics and physics), Joule, Volta, Boyle, Feyman, Fermi, Coulomb, Faraday, Navier....I could go on and on. NOne of these guys were laymen. THey were all trained in the best math and physics and chemistry they had at the time they were alive. All of these guys built upon that foundation. Go ahead, look these guys up!

BTW, all inventions made still adhere to the laws of thermo, even the so-called perpetual motion inventions.

Exactly, after all its not rocket science (er, well maybe it is!)

LOL! Really its not. Any Mech Engr student 2-3 years into a 4 year degree must take thermo. Some of the other engineering disciplines must as well (can't think of them off the top of my head, possibly electrical engineers, and for sure Nuclear and Chemical engineers).

Rocket scientists are generally PhDs in engineering, physics, math, or related. They are way above my level. I'm just a regular engineer, and my talent is for mechanical part design rather than anything momentum, mass and energy transfer related.

This thread went from a business discussion to an argument/debate about thermodynamics/physics/etc.

From the skimming that I did, I side with scarab. The man (or perhaps woman? lol) knows his (or perhaps her? double lol) stuff.

Still don't see how any of this is relevant to the topic though.

Originally Posted by RyanDrake

This thread went from a business discussion to an argument/debate about thermodynamics/physics/etc.

From the skimming that I did, I side with scarab. The man (or perhaps woman? lol) knows his (or perhaps her? double lol) stuff.

Still don't see how any of this is relevant to the topic though.

I'm a dude.
<--hence the McLaren F1 (an engineering masterpiece).

Sorry to get this thread off topic, I just find perpetual motion stuff insulting. I don't want people who don't know any better (readers of this thread) to get it in their heads that they can invent a perpetual motion device and get rich from it. Its completely futile, and a HUGE waste of time and money.

They would be better off looking for problems to solve (that have REAL solutions) as a way to go from $3000 to $1,000,000 in 15 months.

Here's my idea, but its a long shot and has lottery-like odds: Find a problem that you can create a software based solution (web site, web app aka SaaS) for it. Early in the process, put a mockup solution out there, see if it takes off. If it does, program a version 1.0. Market the hell out of it online. All of the above activities funded with the $3,000. If it takes off, go to Google or other large company, and ask them if they want to buy it for $1,000,000 (or more).

Here's another idea: Ryan, you should be familiar with this one! In another thread you have going, there was a link back to a lambo forum where a lambo owner was teaching people to make money hustling. THey buy stuff really cheap on Craigslist, and resell for a profit (rapid flipping).

Some of those people were really making a lot of money doing this. He mentioned that he felt one person would be a millionaire in a year. Just do what they are doing. Start buying stuff using the $3000. Go for the fast buck, NOT the last buck. You make more money overall if you can keep your turn rate really high, rather than trying to get top dollar for the item you are selling.

$3000 in the bank.

I celebrate that this money came out of nowhere and spend $200 on a night out of drinking with friends down in LA.

now i'm at $2800

Spend $100 on a domain - reigster it for X years with awesome hosting

$2700

Think of a website.......... I'm only trying to make a million so I don't care if it's a 1 hit wonder.

I need to get creative so I buy $100 worth of drugs and take them

$2600

Still not creative enough - spend another $100 gettin creative

$2500

Got it !

I obviously don't want to work a lot so I need to sell a little of things that cost a lot but with only $2500 I have to start low - so I'm gonna scout wholesale websites and find something around the $300 mark.

Wait, I don't want to spend any of my money what am I thinking!

I am going to create a catalog of the nicest things I have access to with drop shipping.
I spend 300 printing and designing 5000 nice flyers (price is accurate)

$2200

Now the price range goes from $300-$1000. I go to rich neighboorhoods and go door to door selling 'my products' also listed on my website. My main product being a iPad 2.

I take as long as it takes to make $10,000 doing this

Let's take a long shot and say 6 months, so I have 9 months left and $12,200.

I take that money and scour craigslist looking for a killer deal on a car for around $10,000
sell it for $12,000

now at $14,200 8 months left

I take the $14,200 - Build a iphone and android app

$5,000 each

Leaves me $4,200 for marketing - They're simple apps from two different developers so both done in a month.

7 months left $4200 , 2 assets (iphone apps)

I just need some quick scalable apps so they have to solve a problem for a community and be easy to market.

and also I would prefer to market this using traditional ways so I can see a direct return rather than return over time with seo/socialmedia.

so I create an app that familys will enjoy

-$100 need to get creative again

$4100 - I'm going to create an app that you can enjoy with your local community. I am tired so lets just call it TAG. you can tag places around you and anyone else with the app can add to it - i dont care if it gets big but it might be easy to market.

With only .70 return on that $1 I need to market it for around .30 per user acquisition.

I get bulk business cards and use them as flyers. Each side is used to advertise both my apps

6,000 business cards used as flyers
%20 return on passing them out
I can do 6,000 a week (done it for real estate

$1,200 weekly - $3,600 a month.
after 1 month of successfully hitting the numbers I scale.

$7,700 - $1000 for cards (WAY overpriced, just dont fee llike getting a accurate number but its probably arond 300 for 10,000)
Hire 3 people to help me
Turns

6 months left $6600
1 month with 3 people helping me = 40,000 flyers 3ppl + me = $8000 monthly
5 months left $14,600
Hit's the news on tv and papers ( i call them tell them im 17 and how fast its growing and give them a custom spot on the map)
+100,000 hits = $114,600

I sell the whole company for $100,000 fast but require 10% stake in the company

$224,600.

I celebrate im rich and 17. I go to vegas for a weekend and buy bottle service
-$10,000
I also gambled away $600

$214,000
5 months left

I buy 5 houses with my documented income that I estableshed with a %10 down payment

Each house is $200,000
x10%
=20k =100k downpayment for 5

I am now worth $1,000,00 in assets
and with them all rented out - I am making $10,000 a month doing absolutely nothing.


BADA BOOM BADA BING

Everyone loves it so much they're silent ?

That's about as realistic as perpetual motion.


20% hit rate with fliers.. lolz.

For an app in 2 of the most crowded market places, +2 lolz.


I think you need to do some more homework if you're serious about ever making it as an entrepreneur.

I hope that you weren't serious. Maybe instead of spending money on drugs and jumping from one idea which is ' highly unlikely to work' (don't want to be rude) to another, you should find a niche, learn about it and then focus on it.

Haven't got to use this yet....

Originally Posted by outsourcery

That's about as realistic as perpetual motion.


20% hit rate with fliers.. lolz.

For an app in 2 of the most crowded market places, +2 lolz.


I think you need to do some more homework if you're serious about ever making it as an entrepreneur.

was ment for fun!

The first thing that comes to my mind after brainstorming for 5 minutes is:

* Sell products that gives me a profit of $5 each x 17.000 buyers during 12 months = $1.020.000. The other 3 months I could use them for outline a Plan to think wich products to sell, how to market them and how to reach the 17.000 buyers monthly.

I'm thinking of selling different products so I can reach the 17.000 monthly buyers from different niches.

Just brain flatulence...

A little idea:

Create a site that provides like 999 ideas for "Six Digits in 365 days" and collect the best ideas you can find here and from other success sources like the million dollar page example.

You can sell it as an ebook for 99 bucks with a marketing slogan like "Change your life for 10 cents per idea"

But leave the guru crap talk out of it and come through as a helper not a self-help coach with fake testimonials etc.