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

[Udine]

@ Udine, I'd go against Forex.

Let me explain you why. First of all, every get rich opportunity today is about FOREX. Everyone wants in.

Second, to make money in FOREX, you need to use leverage. If you use leverage you increase your winning but you also increase your risks, dramatically.

Third, FOREX is closely related to gambling mentality. If you lose, you'll borrow money. If you'll lose that money, you'll borrow more. You'll stay in house 24/7 just to trade.

(As far as Forex robots, I wouldn't count on it).

In the FOREX game, the winners are always the disciplined, focused people. The people that can lose $15.000 or $150.000 or $1.500.000 in a day and won't get emotional over it.

If you can do that, good luck. If not, I'd reconsider. I have a friend who tried the same thing. He found about the same benefits. What used to be a Fastlane turned into a prison. He lost money so he invested more and more energy into this. He became emotional about it.

In the end, with about $90.000 in debt, he quit.

Oh, one last thing - don't use high leverage. When you are using leverage, it's like playing Russian Roulette.

With one bullet, you have only 1/6 chances to die.

But if you add leverage, you'll add bullets to the gun. And when there are five in the chamber, you are going against the natural laws of probability.

Good luck once again,
Razvan

Sorry to hear about your friend.

Thanks for your input, but I have a slight different opinion. Simple fact is that forex is NOT "get rich quick", it is a BUSINESS, you have to learn like any other business.

The fact that it is easy to enter this business, does not mean it is easy to make money on a consistent basis, but it can be done !!

I know several people who make a full-time living out of forex, for many years already in a very conservative way.

I am not the kind of guy that goes in the forex with blazing guns )

You have to realize that if you have a certain system you trade, that you can NOT trade it in every market condition.

You have to work it like a sniper, choose the best moment to get the maximum probability of success. You need to choose your battles and not go for all .

The first rule always remains the preservation of your capital !!

Good luck in your endeavours.

Udine

 

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[fellipe]

In order to reach the goal of 1 million in 15 months I would need a little over 2 % / day. This would mean 1 good trade per day (= +2.5 % to the account).

That's impossible. PERIOD.

 

[Udine]

says who ??

I see people of flesh and blood do better than that daily !!

Good luck in your endeavours.

Udine.

 

[pro]

1) Find a market that I understand with accessible customers - done
2) Find a product that meets the market's demand - done
3) Get my feet wet and try to sell to this market - done
4) Ensure it's profitable - done
5) Getting new processing/banking/accounting systems in place - in progress
6) Scale with a bigger team - planned
7) Grow sales exponentially every month - planned
8) Choose an exit strategy - so far it's hold for cash flow

I'm going for it (again) as we speak.

 

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[fellipe]

says who ??

I see people of flesh and blood do better than that daily !!

Good luck in your endeavours.

Udine.

Yeah. good luck having all the money of the world in a couple of months then =)
And please, don't show me backtests or demo accounts.

 

[Manolok]

!!

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.

 

[SHHDlove]

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

 

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[smanzari]

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!

 

[karakoram]

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"

 

[Ambition]

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

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

 

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[Brander]

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.

 

[karakoram]

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.

 

[karakoram]

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.

 

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[DeletedUser394]

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.

 

[karakoram]

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.

 

[karakoram]

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

Ahh, the jury is finally in on this one.

http://www.nytimes.com/2012/02/23/world/europe/italy-flaw-found-in-neutrino-test.html

 

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[cliqflip]

$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 :urock2:

$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

 

[cliqflip]

Everyone loves it so much they're silent ?

 

[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.

 

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[Gruby Phil]

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.

 

[InMotion]

:beatdeadhorse5: Haven't got to use this yet....:great:

 

[cliqflip]

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!

 

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[tincho1492]

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...

 

[TK1]

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.

 

[The-J]

Bump.

OK so here's my idea. Now, I changed up the rules a little bit, meaning that at any time, you can restart from $3000 and go again for the $1 million as long as you make $1 million off that new $3000 only. So failure shouldn't scare anyone, it's not like you can't just start over.

This is based on (but not entirely) my personal plan. This assumes that your job income or other businesses covers your expenses only (or you live with mom and dad), so $3000 is really all you have.

You'll need to set aside about $1500 for the main Fastlane (get money later) and the other $1500 will be for other things (get money now). Most of the time will be spent on the main Fastlane, something like the 80-20 rule. 80% of time on main Fastlane, 20% of time on the other stuff. You'll be spending an average of 6 1/2 hours on the main Fastlane and 1 1/2 hours on the other stuff. The other stuff will take more time in the beginning and less time later but the main Fastlane will take a lot of time as time goes on (lots of time in this sentence).

The end result will be $1 million in cash, in the bank. Not in assets. It will not end with the sale of a business or any other assets at month 15...

Again, split the money in half.

The First Half: Sort-of Passive Income

The point of this is to use half the money to get a steady, although small, stream of revenue that you can simply set and forget and make money off of. You can do this with affiliate marketing, writing an e-book about anything really, buying vending machines and placing them in good locations, making a YouTube video and using AdSense money form that, and/or buying a cheap application and selling it (this assumes that you're a kid who has no idea how to program an app).

The goal of this is to make a very small amount: $500 a month profit. Most teenagers make more than $500 a month from their part-time job at McD's, but that's OK. This isn't money to be used for personal reasons. But the point is you have about three months to make $500 a month. Three months is plenty of time to set up $500 a month.

This $500 a month will be used for the supplementing of the Fastlane business. This Fastlane will experience slow growth at the beginning: it's possible to start a Fastlane and have it profitable in a month but that's not the point of this. If you save $500 a month for 15 months you'll have $7500, which is piddly. We're going for a million.

The $1500 will be spent on domains, hosting, affiliate fees, and advertisements. If you choose a real-world pseudo Fastlane like vending machines or a lawn care business, the money will be spent on equipment. If you buy a lawnmower for $1500 and can mow one lawn every day for $30, you can pay off the mower in less than two months and have $900 a month income from an hour or two of work.

Summary: build pseudo-Fastlane semi-passive income streams (you must have more than one!) that, by the end of the third month, can bring in a steady $500 a month with 2 hours a day of work. If you can, spend the two hours to increase the streams to $1000 a month. That's not required but it would be nice. Unless you can take it all the way to the million, don't try to expand it much more than $1000/month because at a certain point, it will become a pain in the a$$ to scale further. After you get to $500-$1000 a month, focus as little time on these streams as possible and focus it more to your Fastlane

Note: If you can make a sellable income stream that nets $500 a month, you'd have to sell it for $7500 or more in order to 'cheat' effectively. But that probably won't happen, because some of the income streams I suggested can't really be sold.

The Other Half: A Fastlane Business

Month One to Three

This $1500 will be used to create a Fastlane business. A legit business with CUL (Controllable Unlimited Leverage) that will only take 6-8 hours a day to work on. (You're not allowed to drop out of school. You can quit your job if it becomes absolutely needed to scale the business further but most businesses can be scaled to the point without having to spend more than 8 hours a day on average on it). This will also require you to be extremely efficient with your time.

The first three months will provide zero or limited revenue. But that's OK because you'll have $500-1000 a month of revenue from your other stream to pad this venture forward. But by the fourth month, you should be profiting and on your way to exponential growth.

The first three months will be focused on building your concept from the ground up. This will be an Internet business (you have no choice, really) and must be one of the seven Internet Fastlanes (subscription-based, content-based, lead gen, social network, brokerage system, ad network or e-commerce). If it doesn't fit one of these models, don't use it.

Also, one more thing: you must be selling something of value. You must have paying customers. Selling 'free content' and mooching off of ad revenue is too much of a gamble for fifteen months. We're trying to do something that can actually be done by a 17 year old.

You'll need to learn how to use Wordpress. You can opt to use Wordpress for all 15 months but I would recommend against it: in fact, when it becomes evident that Wordpress doesn't fit your needs fully, you should get a programmer. If you can't start making money with a Wordpress or Joomla version of your site, throw your idea out.

When drafting your concept, it must fit the CENTS (Need, Entry, Control, Scale, Time) and if you don't know what this is, buy MJ's book. (Duh) It must be an Internet Fastlane and you must be able to start earning money off of $2000. ($1500 starting + $500 earned frm your pseudo-Fastlanes). You must be able to run and scale the business off of your profits PLUS $500. So exponential growth is a must.

You're going to need to do a lot of work in the first month alone: market research, due diligence, number crunching, product/service development, filing as a corporation and getting a tax license, creating a brand, drafting your concept from the ground up, defining your need, defining your target market and your avenues, buying the domain and hosting, and garnering traffic. (Phew!)

By the end of the third month, you must have profit. By the end of the fifth month, you must have paid off your initial $1500 investment. By the end of the sixth month, you must be on track for exponential growth until the end of month 15.

Month Four

Your job will change after you start gaining profit. You'll be spending most of your time trying to develop your current customer base so you can capture everyone in a niche market. If you have a total audience of 100 people, you must be grasping the 38 people who are most likely to pay for your service. You're building a brand after month four. You're getting yourself situated into the sphere of your market and you're not making your business big, you're making it STRONG.

Month Six

Between month six and ten, you're working your balls off and life is kinda sucking, but not really. You still have to graduate with good enough marks, you can't have a girlfriend (or boyfriend) cuz all your time is spent in your business, your friends are wondering what the hell you're doing with your life... but it's OK. You're on track for exponential growth and little do they know, you'll be a millionaire before they have an internship.

Exponential growth means that you must be increasing your revenue by a lot each month. If you hit profit of $100 at month four, you must be set for $800 by month five, and $1800 month six, $3290 month seven, etc etc. These are example numbers and will probably not fit your real numbers. With exponential growth, you must be pocketing your money exponentially. This means your expenses CANNOT be growing at the same rate as your profits. They must be growing at a much lower rate so you can profit more and also pocket more.

Month 10

After about month ten, you're starting to expand, and fast. You're no longer targeting the 38, you're targeting all 100, and then some! You have the reviews, the good press, the Web presence, the traffic. People know what your business is, they pay for it and it shows in the numbers. It's time to scale, baby. Scaling your audience and scaling your numbers. This is also hard work, but it's different work. Your expenses are about to go way up and you're gonna need a bunch of new things, new ad campaigns, and more traffic. Increasing conversion rate while at the same time increasing traffic. You're starting to swerve onto the Fastlane.

Also, taxes are due April 15th. You did do them, right?

Month Twelve

So around month twelve, you notice your earnings are through the roof. You can't believe you've made it this far, but it's still a lot of work. By this time, it's summer vacation (assuming you started something in late May or June and spent your last summer vacation Chuma-moding this entire thing while going to summer school cuz your grades sucked) and you're still spending a lot of time on the business. But it's OK, it's still a lot of fun and your bank account is busting at the seams.

Some example numbers you may fulfill are here. You can go at a different rate (you could even pocket $1 million after a year or less!) but these are just examples. They start at month four. Also, the profit adds $500 automatically to show your pseudo-Fastlanes at work. Truth is, that $500 will simply be a drop in the bucket, rofl. This also assumes you're pocketing all the profits.

Month: 3, 4, 5,..., 15
Revenue: $200, $800, $1800, $3290, $6029, $10320, $19382, $34,918, $58,949, $102,293, $239,930, $308,389, $392,293
Expenses: $600, $692, $801, $1209, $1310, $1702, $2309, $3039, $4950, $6948, $7893, $10,039, $17,394
Profit: $100, $608, $1499, $2581, $5219, $9118, $17573, $32379, $54499, $95845, $232537, $298850, $375399

Total Profit: $1,123,626

Are these numbers possible? Absolutely. You just have to be really efficient with your time and knowledgeable with your money. It will probably take many tries to get this right, but even if it takes you ten tries, each time failing somewhere around month six, you'll only be 24 1/2 when you hit your million. (Or 7 1/2 years older if you're not 17 lol)

The Aftermath

So, month 15, you're 18 years old and a millionaire. Congratulations! Now you can do so much: pay for college with one single payment, buy yourself a supercar, get a nice home wherever you want... but don't neglect your business. You're still not earning completely passive income. The goal is by month 24, to disconnect your time from your business and put it up for sale so you can enjoy a hefty retirement off of bonds and treasuries, young and living large and in charge.

Whew, this took a while. My girlfriend fell asleep while I was writing this. Poor thing.

How does my plan mirror this? Well, I get paid to go to school so I use that money in my business! Hahaha. I'm currently starting month two! Hopefully in 13 months I'll be a 20 year old millionaire.

So yeah, that's what I think. Someone should try it with me.

 

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[tincho1492]

The-J: Just this: Thank you so much for taking the time in writing a incredibly creative way to reach the 1mill!

I'll go with you once I reach the $3.000 in one month or so

 

[imirza]

I didn't do it at least not in 15 months but I came close.

Here is what I did
- Found a new product/line of product that was very popular and growing rapidly.
- Found manufacturer in China
- Spent $1000 to purchase some product and listed it on craigslist with link to my paypal acct. Also listed on ebay. 1 week later I am sold out and have doubled my money. My margins are very high since I buy straight from manufacturer.
- Spent $3-4k to buy more product. 2 weeks later everything is sold I have doubled my money.
- Drop close to $10k on more product. Again its sold in 2-3 weeks.
- Christmas season comes and product is in VERY high demand. I net a quick $15k December.
- Things don't slow and January onwards very consistent demand. Competition is growing but I can get at a great price and beat competitors prices. I drop price and run competitors out of business on Amazon, ebay etc. Sometimes operate on razor thin margins for a week or so to kill competitors. Business is war. F*ck them !
- Business grows via Amazon etc + own websites.
- By following Christmas we are featured vendor for big online retailer and product/product line is everywhere. Sales explode net profit December 2011 over $400k. Some days I net over $50k !

Total 15 months $700k + net profit

Since Christmas a little burned out plus more competitors and margins are thinner. Slowed things down a little. Getting consistent income just not pushing as hard. Maybe just wait till next Xmas when business will really boom and I can do $1 mil net.

My advice - focus on one thing to get from 3k to $1 mil in 15 months. You try 20 different things you will fail at 20 different things. Find a hot product and service you can deliver at a better price and/or quality than the competition and run with it. Find something high growth. Search around and see what is experiencing massive growth. My product(s) were seeing overall annual growth of over 400% so I knew I could get a piece of that extra pie.

 

[MakeItHappen]

This thread is really just nuts!

btw: The-J i reall love the idea of having as much tries as you need to archive this goal!

This approach takes a lot of fear away from you and gives you the right mindset to really go super fastlane!

I think about trying the same challenge because it sound really like a great way to make your first million!

 

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[Whole Paradigm]

I didn't do it at least not in 15 months but I came close.

Here is what I did
- Found a new product/line of product that was very popular and growing rapidly.
- Found manufacturer in China
- Spent $1000 to purchase some product and listed it on craigslist with link to my paypal acct. Also listed on ebay. 1 week later I am sold out and have doubled my money. My margins are very high since I buy straight from manufacturer.
- Spent $3-4k to buy more product. 2 weeks later everything is sold I have doubled my money.
- Drop close to $10k on more product. Again its sold in 2-3 weeks.
- Christmas season comes and product is in VERY high demand. I net a quick $15k December.
- Things don't slow and January onwards very consistent demand. Competition is growing but I can get at a great price and beat competitors prices. I drop price and run competitors out of business on Amazon, ebay etc. Sometimes operate on razor thin margins for a week or so to kill competitors. Business is war. F*ck them !
- Business grows via Amazon etc + own websites.
- By following Christmas we are featured vendor for big online retailer and product/product line is everywhere. Sales explode net profit December 2011 over $400k. Some days I net over $50k !

Total 15 months $700k + net profit

Since Christmas a little burned out plus more competitors and margins are thinner. Slowed things down a little. Getting consistent income just not pushing as hard. Maybe just wait till next Xmas when business will really boom and I can do $1 mil net.

My advice - focus on one thing to get from 3k to $1 mil in 15 months. You try 20 different things you will fail at 20 different things. Find a hot product and service you can deliver at a better price and/or quality than the competition and run with it. Find something high growth. Search around and see what is experiencing massive growth. My product(s) were seeing overall annual growth of over 400% so I knew I could get a piece of that extra pie.

How much did your product cost per unit and how much did you sell it for on average? Also, you started with $1000 dollars? If so, after doubling your money you would then have $2000 dollars. How did you then buy $3000 to $4000 thousand in product after? Second job? Had other savings not yet tapped? Also can you expand a bit more on starting out with craigslist and a paypal account? How does $700,000 sitting in a paypal account work? Do they have limits on how much money you can transfer out? Never used a paypal account and it seems like a lot of money to be sitting in one so I'm curious if you can school me on that a bit as I've always had reservations in using paypal.

Thanks,

 

[BeingChewsie]

Total 15 months $700k + net profit

Yeah!!! One of the most exciting things is seeing how many of this forums original members and first B&P attendees have gone on to do some really incredible things, even if we haven't made millions yet, most us it seems have taken action, started businesses, and changed our lives. The best part to me is seeing people who have taken control of their own path and are no longer dependent on the will of an employer and a 401K, which is just so risky these days. You can do a lot in 4-5 years, that time goes by anyway, so stop dreaming and start doing.

Congrats Imirza

Sue