Could you make 300K within 5 years?

[Prince33]

Let's say hypothetically you've got to make 300K by the Autumn of 2027. Starting from 0.

Do you think you could do it? And how much execution or discipline would be required?

 

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[Matt Lee]

whether you think you can or can't, you're right either way lol

 

[Prince33]

whether you think you can or can't, you're right either way lol

Facts. Actually answers the question already. Haha

 

[Kevin88660]

Let's say hypothetically you've got to make 300K by the Autumn of 2027. Starting from 0.

Do you think you could do it? And how much execution or discipline would be required?

Why that number?

 

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[Prince33]

Why that number?

More than 100 less than 500. Why not?

Btw I found this. This guy did it in 4.

View: https://youtu.be/OnfPWmOMgPk

 

[Johnny boy]

So is that 300k total from year 1-5?

That's 60k a year go wash windows bro.

Or 300k in year 5 alone?

300k is 25k a month.

Some sort of system will get you $x/mo times how many units you need to equal 25k.

So if you have some sort of service business with workers and each crew makes 5k a month profit you need 5 crews working.

If you had one guy working alone you'd probably be paying 5k in expenses, so you would need 10k in revenue/mo per worker. 21 working days in a month means about 500 a day in revenue. Can you get someone to do $500 worth of work per day?

You would need 50k/mo in revenue assuming those numbers which is just 5 dudes doing $500 a day in work each day.

So....find something where you can schedule and perform $500 in work by yourself in a day without much serious effort and you've got something that can do 300k a year as long as there's enough demand. Then you just have to grow moderately over the next 5 years and you hit your mark.

Example:

year 1: do the work yourself, bring on a helper to train him up. Bring in 100k and make 70 in profit or so having the kid work part time
2: get him to work alone, get to 150k revenue and you work part time with a second truck or something. Make like 90k in profit (60k profit from worker, plus you doing some part time work)
3: get to two full routes, two workers, bring in 240k revenue and make 120k.
4: 3-4 routes, 4 workers, make like 180ish. (assuming 4th crew is not full and not profitable yet)
5: 5 routes, 5 workers, make 300k, hire a manager that year to make life easier.
6: convince people to open franchises of your business and scale up

There just needs to be demand for whatever you're doing but those numbers are not that crazy, I've seen people doing stuff like building sheds where they make 3 grand in a single day of work.

 

[MJ DeMarco]

Do you think you could do it? And how much execution or discipline would be required?

I can't speak for Latvia but in the US, you'd end up average. Get a job at $60K a year and boom, there's your $300K in 5 years.

It's a low bar.... like setting a goal to be mediocre so you can become of these "I eat roadkill to save money!" clowns.

 

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[Kak]

Undercover Billionaire

The American dream is still alive, and this time, three self-made entrepreneurs have set out to prove it. With only 90-days and nothing but 100 bucks in their pockets, they will put one million dollars on the line to go undercover and build a thriving million-dollar business for a small town in...

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Check this out. It’s not a perfect experiment, but the goal blows away 300k in 5 years and the fundamentals are solid.

 

[Guest-5ty5s4]

Not rare at all.

Go browse bizbuysell and you’ll see small businesses making multiple millions per year. Yes, they still meet the small business classification.

And yeah I made more than that In less time with a job and a new biz on the side

 

[Kung Fu Steve]

Let's say hypothetically you've got to make 300K by the Autumn of 2027. Starting from 0.

Do you think you could do it? And how much execution or discipline would be required?

I can't speak for Latvia but in the US, you'd end up average. Get a job at $60K a year and boom, there's your $300K in 5 years.

It's a low bar.... like setting a goal to be mediocre so you can become of these "I eat roadkill to save money!" clowns.

I CAN speak for Latvia.

Lived there for a few years.

Met a woman who has a marketing agency there close to the old Sapni Un Kokteli bar (god I miss Sapni) who built it up to $3mm USD in just a couple of years.

There ARE people with money in Latvia -- and EVERY country -- but if you had the skills...

URL unfurl="true"]https://www.discovery.com/shows/undercover-billionaire[/URL]

Check this out. It’s not a perfect experiment, but the goal blows away 300k in 5 years and the fundamentals are solid.

Such as these... you'd be able to sell to anyone around the world.

The internet is not just a fad... it actually connects everybody and you can sell to anyone... anywhere...

 

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[Prince33]

So is that 300k total from year 1-5?

That's 60k a year go wash windows bro.

Or 300k in year 5 alone?

300k is 25k a month.

Some sort of system will get you $x/mo times how many units you need to equal 25k.

So if you have some sort of service business with workers and each crew makes 5k a month profit you need 5 crews working.

If you had one guy working alone you'd probably be paying 5k in expenses, so you would need 10k in revenue/mo per worker. 21 working days in a month means about 500 a day in revenue. Can you get someone to do $500 worth of work per day?

You would need 50k/mo in revenue assuming those numbers which is just 5 dudes doing $500 a day in work each day.

So....find something where you can schedule and perform $500 in work by yourself in a day without much serious effort and you've got something that can do 300k a year as long as there's enough demand. Then you just have to grow moderately over the next 5 years and you hit your mark.

Example:

year 1: do the work yourself, bring on a helper to train him up. Bring in 100k and make 70 in profit or so having the kid work part time
2: get him to work alone, get to 150k revenue and you work part time with a second truck or something. Make like 90k in profit (60k profit from worker, plus you doing some part time work)
3: get to two full routes, two workers, bring in 240k revenue and make 120k.
4: 3-4 routes, 4 workers, make like 180ish. (assuming 4th crew is not full and not profitable yet)
5: 5 routes, 5 workers, make 300k, hire a manager that year to make life easier.
6: convince people to open franchises of your business and scale up

There just needs to be demand for whatever you're doing but those numbers are not that crazy, I've seen people doing stuff like building sheds where they make 3 grand in a single day of work.

Outside the beaucracy and managing people this sounds very possible. even for something online. Like you said the real question is can I find a way to make 500 in a day and replicate it reliably?

Marketing is a great way to provide value to people but say it's consistent is a stretch. Thanks for the long explanation.

I can't speak for Latvia but in the US, you'd end up average. Get a job at $60K a year and boom, there's your $300K in 5 years.

It's a low bar.... like setting a goal to be mediocre so you can become of these "I eat roadkill to save money!" clowns.

Making 60K USD in Latvia and you're upper class for sure. Hell some would consider royalty. Just 2K a month is upper class.

And yeah I meant per year yearly income 300K.

Thanks MJ.

Not rare at all.

Go browse bizbuysell and you’ll see small businesses making multiple millions per year. Yes, they still meet the small business classification.

And yeah I made more than that In less time with a job and a new biz on the side

Imagine a business making 300K yearly being small. Wow.

I CAN speak for Latvia.

Lived there for a few years.

Met a woman who has a marketing agency there close to the old Sapni Un Kokteli bar (god I miss Sapni) who built it up to $3mm USD in just a couple of years.

There ARE people with money in Latvia -- and EVERY country -- but if you had the skills...




Such as these... you'd be able to sell to anyone around the world.

The internet is not just a fad... it actually connects everybody and you can sell to anyone... anywhere...

Absolutely. The internet is the great equalizer. No excuse for anyone in Europe. Even a Moldovan when Bangladeshi and Filipinos are finding ways to at least be virtual assistants and start businesses.

But I like that metric. First find a way to make 500 a day. Or gross 15K a month.

After that, I can find a way to scale or replicate it. But I'll be honest that's a tall, tall task. Will be interesting finding a way.

I'll brainstorm some ideas and report back.

Best I have right now is a combination between Fox and Andy Black. Web Dev + Google Ads.

But dealing with and closing clients is easier said than done. And finding a source to get clients from is probably just as big as developing the skill. So I'm not sure how reliable that is.

Maybe a "passive income" model? Create something, put it on a store and get sales. Or even a YouTube channel. I'd say it's more reliable to gauge.

I've dipped my hand in these but never went all in. I'll see.

 

[Guest-5ty5s4]

Imagine a business making 300K yearly being small. Wow.

It is a small business.

You should aim higher!

 

[Prince33]

View attachment 45868

It is a small business.

You should aim higher!

Yeah. However even there it says the business has employees. I'm most likely going to do this on my own until I gain more capital.

Even still it's not much I agree.
Is in my reality though.

Anyway. I decided first I have to learn how to make 100 a day before I can even dream of 500 a day. Which is 700 a week.

 

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[Strm]

Anyway. I decided first I have to learn how to make 100 a day before I can even dream of 500 a day. Which is 700 a week.

Good luck in your ventures, neighbor, wishing you the best!
If you want to talk and discuss business or just share some thoughts, feel free to DM me here.

Greetings from Igaunija!

 

[PepegaPreGainer]

Yeah. However even there it says the business has employees. I'm most likely going to do this on my own until I gain more capital.

Even still it's not much I agree.
Is in my reality though.

Anyway. I decided first I have to learn how to make 100 a day before I can even dream of 500 a day. Which is 700 a week.

Sounds like a good start, instead of trying to think of how to make millions of stacks of bread asap, think smaller instead and work your way up to bigger things, scaling it.