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

Idea threads

Balkins

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Do a really massive project or a couple of massive projects and only hire contractors.

Have the payment terms set up where you get maybe 25% at the beginning, 50% when you’re a quarter of the way through, 25% halfway through, then the final 25% on project completion. Something like that. A big chunk of that should be profit anyway.

This would work in any kind of construction related industry, or where you’re supplying a product in bulk and need to move a lot of it. Let’s say you need barges delivering product - that’s going to cost a lot. But you structure the payments this way and make it happen! You can even include renting the barges in your costs. If you can buy it, rent it, etc, you can use it in your business and include it in a quote / bid / proposal!

You don’t necessarily need to have all the money in the bank before you embark on such an endeavor.

Truth is, the hardest and most complicated businesses make the most money - like the ones I’m describing.

This isn’t a gift shop or retail store! We are thinking bigger.

Nice...like Land-development or Game Programming or Phone Apps ?
 
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Guest-5ty5s4

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Nice...like Land-development or Game Programming or Phone Apps ?
Those would work. Any project really, but it would have to be something big.

That’s why my first thought is something construction-related... those usually have the biggest numbers.

You can get big numbers by selling high numbers of units but for me, that means taking more than 15 months to build the customer list and all that.

With big projects, you can make it on 1 or 2 deals.

Scale vs. magnitude. Some people are better at scale but I find magnitude simpler. I’m working on learning scale though - lower priced products in higher volume.
 

Antifragile

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Those would work. Any project really, but it would have to be something big.

That’s why my first thought is something construction-related... those usually have the biggest numbers.

You can get big numbers by selling high numbers of units but for me, that means taking more than 15 months to build the customer list and all that.

With big projects, you can make it on 1 or 2 deals.

Scale vs. magnitude. Some people are better at scale but I find magnitude simpler. I’m working on learning scale though - lower priced products in higher volume.
17 year old student with part time effort into a construction gig generating a $1m in 15 months? I don’t see it.
 
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Guest-5ty5s4

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17 year old student with part time effort into a construction gig generating a $1m in 15 months? I don’t see it.
That’s fine.

Ive seen immigrants who don’t even speak English do it.

He and his crew installed very niche parts in the oil and gas and chemical industries.

Their cost would be almost nothing since their customer paid for all the materials. They just provided labor and knowledge.
 
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Antifragile

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That’s fine.

Ive seen immigrants who don’t even speak English do it.

He and his crew installed trays on distillation columns and reactors.
Do you mind sharing where and under what circumstances? It sounds like an inspirational story!
 
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Guest-5ty5s4

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Do you mind sharing where and under what circumstances? It sounds like an inspirational story!
I can’t say too much because it would give away my main biz, that is becoming oversaturated already!

But I edited my comment before to give you a rough idea.
 
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sparechange

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Anyone here finish the second season of Undercover billionaire? I haven't followed it after the 3rd episode and liked Moniques idea, seemed very possible to hit $1m
 

Balkins

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Those would work. Any project really, but it would have to be something big.

That’s why my first thought is something construction-related... those usually have the biggest numbers.

You can get big numbers by selling high numbers of units but for me, that means taking more than 15 months to build the customer list and all that.

With big projects, you can make it on 1 or 2 deals.

Scale vs. magnitude. Some people are better at scale but I find magnitude simpler. I’m working on learning scale though - lower priced products in higher volume.

You'd have to find something that has leverage potential, Option leverage, Contract to sell something that has high leverage. What about GOV.CONTRACTING?
 
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Guest-5ty5s4

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You'd have to find something that has leverage potential, Option leverage, Contract to sell something that has high leverage. What about GOV.CONTRACTING?
Yes, government contracting would work, they spend tons of money on huge projects. The key is having the skills and manpower to do the projects.
 
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mikecarlooch

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Phew. I'm not going to lie - this thread was hard to get through in places. I had to resort to skimming.

Also... paragraphs and white-space are our FRIENDS. :)

Maybe it's the nature of this thread where people are encouraged to blue-sky and think outside the box, but has the forum changed over the last few years? I think people would get shot down a lot more now-a-days. I dunno if that's a good or a bad thing.



Anyhow...

Make $1m by building a business that generates $25k profit per month and then selling it.

Obviously it has to be built such that the new owners are confident they can continue to generate $25k/mth.



Now, how to make $25k/mth ?

Maybe 1,000 businesses paying $25/mth ?

Maybe 100 businesses paying $250/mth ?

Maybe 10 businesses paying $2,500/mth ?


Or more likely, a bit of Perry Marshall's 80/20 rule of thumb that one fifth of your customers will pay 4 times as much.

So if you had 100 businesses paying you $250/mth, then 20 (20% of 100) will likely be willing to pay $1k/mth, and 4 (20% of 20) will likely pay $4k/mth.

So maybe it would look like:
• 80 businesses paying $250/mth ($20k)
• 16 businesses paying $1k/mth ($16k)
• 4 businesses paying $4k/mth ($16k)
Total monthly revenue of $52k ?

We've overshot, but maybe we pick the 100 * $250/mth scenario and any upsells are gravy, or we hit $25k/mth earlier than 100 signups.



Hmmm... interesting. I've already decided they are businesses and not consumers.



What springs to mind immediately is 100 cities for XYZ vertical.

Provide a service for a business in a city for $250/mth that needs minimal maintenance once built.

After you've dialled in one business in a vertical, scale by finding similar businesses in different locations.

Obviously we're looking at businesses that cover specific geographies.



EDIT: Why sell when you get to 100 * $250/mth for XYZ vertical?

Go to 500 in XYZ vertical as well as diversify to other verticals.

Add higher levels for businesses that want more of what you're selling.

Add lower levels for businesses that want less.



Start with 1 * $250/mth doing something that *could* scale.

Don't worry about scaling with your first client.

Just concentrate on landing them and use them to learn the vertical.

THEN find a way to scale.
Bookmarked!
 

Johnny boy

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Anyone here finish the second season of Undercover billionaire? I haven't followed it after the 3rd episode and liked Moniques idea, seemed very possible to hit $1m
If she's a business person then Mackenzie Scott is the worlds greatest investor. The most profitable skill in the world is "how to land a rich husband".
 
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GuestUser4aMPs1

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Old forgotten thread, 15 years old and still going strong!

Nowadays I'd do this:
— Find a company that sells high-ticket products or services, with a bulletproof value proposition.
— Set up a service agreement where you'll generate leads for free, in exchange for 1% of the deal.
— Throw that $3k into lead gen, I prefer direct response via cold email. Takes zero time after setup.
— Let this company work the leads you send them, refining your methods. As deals close, reinvest.
— Just one $100M deal = $1M check for you. Or Ten $10M deals. Or a Hundred $1M Deals.

Use the internet to sell other people's stuff at scale, but in non-competitive and lucrative markets.
This of course requires more creativity and brain cells than dropshipping from chyna
 
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