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What Is Challenge
I am new here, but I am am not new to investing, entrepreneurship and doing hard things. I love a good challenge. I love impossible challenges. So I am giving myself Until Oct. 28th to hit $120,000 with a new business. I am not sure what it is, but I have a few really good ideas. I probably won't hit the goal, but I am going for it.
Why Am I Doing It?
Because I can. Well because I want to but also because there is a reason to do it. Being the Entrepreneur I am I have had a few successes. As a result of one success I end up with pretty crazy tax bills. After the sell of one of my investments last year I incurred some tax liabilities. No worries I paid them easily. But then oops.. looks like the accountant made a mistake. No problem says the IRS just pay the $85,000 by Oct. 28th and there will be no penalties. These things happen. Nice guys right?
I am not worries. I can pay the bill, but I thought instead of wasting my current money I should earn the money to pay the bill off and the additional tax that the income required to pay the bill off would incur.
No, this is not your typical progress thread. I am already Unscripted by my standards. I am doing this because I can. Why not? More to the point, I am encouraged by all that people on this forum do. So I want to have a little fun myself. Plus this is a pressing need of mine. I hate giving the IRS anything more than I can. Fair is fair though so let's do this right.
How
Final Thoughts
This is putting myself out there in a way I never have done publicly. It might even make me an action faker versus taker if I let friction stop me from moving forward. I can afford the bill and I don't need to do this so the NEED might not be enough to overcome my general Unscripted lifestyle.
I do think this will motivate me to push to do something mostly because I really enjoy creating business concepts, and seeing them work. I might as well do one that could benefit others if it works or even if it fails. There will be learning regardless.
I am hoping to have my initial concept defined by the end of this week giving me a solid month to execute. Knowing me though, I will have it done sooner. Some blockers are that I will be out and traveling this whole week. Is than an excuse? Nope.
My goal is to show that if you have knowledge, will power, intestinal fortitude, then you can do this and do it in a short time. I will have a follow up post with my idea as soon as possible.
TL DR
Aaron is stupid and wants to do the impossible publicly because he is a bored old fart. Follow his general stupidity here and let's have a good laugh.
I am new here, but I am am not new to investing, entrepreneurship and doing hard things. I love a good challenge. I love impossible challenges. So I am giving myself Until Oct. 28th to hit $120,000 with a new business. I am not sure what it is, but I have a few really good ideas. I probably won't hit the goal, but I am going for it.
Why Am I Doing It?
Because I can. Well because I want to but also because there is a reason to do it. Being the Entrepreneur I am I have had a few successes. As a result of one success I end up with pretty crazy tax bills. After the sell of one of my investments last year I incurred some tax liabilities. No worries I paid them easily. But then oops.. looks like the accountant made a mistake. No problem says the IRS just pay the $85,000 by Oct. 28th and there will be no penalties. These things happen. Nice guys right?
I am not worries. I can pay the bill, but I thought instead of wasting my current money I should earn the money to pay the bill off and the additional tax that the income required to pay the bill off would incur.
No, this is not your typical progress thread. I am already Unscripted by my standards. I am doing this because I can. Why not? More to the point, I am encouraged by all that people on this forum do. So I want to have a little fun myself. Plus this is a pressing need of mine. I hate giving the IRS anything more than I can. Fair is fair though so let's do this right.
How
- Must be a legal and ethical business
- Probably will use my current knowledge so it will be an online business using a digital product
- Will try to avoid just doing a big software contract as it feels like a cop out
- I want to start it with as little outlay as possible as I feel it reflects what people are capable of doing so let's say less than $1000 initial capital
- I can absolutely invest what it earns back into itself to accelerate and I do reserve the right to throw more money at it if I think it is going to work
- I am trying to avoid the concept of throw 200k at the problem to make 85k as that doesn't seem fair
- I will share as much of the business and provide proof as I can without using this forum as a means to gain business
- Update should be frequent since this is a short time period, but the learning for me, and maybe others will be long term
Final Thoughts
This is putting myself out there in a way I never have done publicly. It might even make me an action faker versus taker if I let friction stop me from moving forward. I can afford the bill and I don't need to do this so the NEED might not be enough to overcome my general Unscripted lifestyle.
I do think this will motivate me to push to do something mostly because I really enjoy creating business concepts, and seeing them work. I might as well do one that could benefit others if it works or even if it fails. There will be learning regardless.
I am hoping to have my initial concept defined by the end of this week giving me a solid month to execute. Knowing me though, I will have it done sooner. Some blockers are that I will be out and traveling this whole week. Is than an excuse? Nope.
My goal is to show that if you have knowledge, will power, intestinal fortitude, then you can do this and do it in a short time. I will have a follow up post with my idea as soon as possible.
TL DR
Aaron is stupid and wants to do the impossible publicly because he is a bored old fart. Follow his general stupidity here and let's have a good laugh.
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