Hypothetical Question: How would you make £1 million in the next 12 months?

[RobbieFoston]

Hola,

Just for fun!

This is a question my friends and I often discuss and just generate ideas and discuss business.

Q: Life or death - If you had to generate £1m in revenue over the next 12 months, how would you do it? You have £1,000 to start.

Additional Q: One answer for in-person business, one answer for online business.

Interesting to discuss - fire away with your ideas!

 

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[Odysseus M Jones]

Hola,

Just for fun!

This is a question my friends and I often discuss and just generate ideas and discuss business.

Q: Life or death - If you had to generate £1m in revenue over the next 12 months, how would you do it? You have £1,000 to start.

Additional Q: One answer for in-person business, one answer for online business.

Interesting to discuss - fire away with your ideas!

First I'd change the £1000 to any foreign currency.
Then I'd change it back 12 months later.
Job done!

 

[Strm]

Interesting to discuss - fire away with your ideas!

Would be interesting to discuss if you had actually shared your ideas in the first place, no?

 

[fastlane_dad]

To achieve 1MIL in a YEAR (even in revenue) from nothing - Life or death - means in many cases you are taking on SIGNIFICANT risks to achieve those revenue figures.

With taking on significant risks there are countless ways to achieve those numbers. I imagine myself and others going to FAR lengths if the option is DYING.

Fastlane / entrepreneurship being a PROCESS, you cannot force your way into making anything, in a year or in any time span. You do the work, and the results follow - but nothing guarantees that type of success.

But if you are asking what are the MOST lucrative industries to get into today , on and offline that will take the least time to build up until significant revenue growth? I'm sure courses, physical goods work well online (executed well you can achieve those numbers with AMAZON alone - but most likely again carrying heavy risk).

You will need HIGH TICKET items, with low COGS (cost of goods + services) - to generate great profits.

Offline? I don't fully know where to begin in that space but I imagine something with building / construction / real estate AND providing to those industries will do quite well currently.

 

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[Jobless]

Set up two companies. Have them exchanging pointless services with each other, moving the £1000 back and forth every day.

 

[Guest-5ty5s4]

Set up two companies. Have them exchanging pointless services with each other, moving the £1000 back and forth every day.

this is HIGHLY illegal, but wanted to point out, it wouldn't work unless there was some sort of capital infusion, i.e. a loan.

do not do this. It is a horrible idea and will put you in the slammer. You are not going to outsmart the law on that one.
---
Now to make a million dollars in a year legitimately...
Like @fastlane_dad said, you're going to need to take some risks to do this in a year. Sooo many threads like this have been made.

You'll need leverage and lots of it. Loans, like I mentioned (but for legitimate business, not cheating, scams, or illegal acts). Provide value. Produce something, fix something, move something, build something. All of the above.

Here are some forms of leverage:
- loans
- investment
- human resources (hiring people)
- eyeballs (traffic, advertising)
- influence / networking

The faster you rush, the more likely you are to have that leverage blow up in your face.