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What would you do with 100 k?

John C.

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I would spend a little money and lots of time and energy researching ideas. I would spend some time and a small amount of money studying the most common problems that start up companies have. I would really study in great depth the concepts MJ talks about in the book. If you start with a business which does not fit the Fastlane model, you will struggle. It is fairly easy to "buy a job" by starting a business. But at the end of the day, you still just have a job plus the ownership risk.

The more time and effort you put into the front end, making sure you are filling a need, have something unique to offer, the easier life will be.

I would also guard the cash like a hawk. When you start with a lot of cash, it is easy to get careless with it and spend money on things that don't really matter - like nice offices, fine furniture and expensive equipment. Unless you have a steady stream of revenue, you don't have a business. So make sure most of the money you spend goes to generating revenue.

I would also look for a mentor and spend some money on objective advice to make sure the business model was sound and Fastlane. It is impossible to be objective about our own ideas.

Prove the concept before you blow through a lot of cash. Once you know the concept works, then and only then can you start to spend money to scale the business.
 

Darkside

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After I was done doing this for an hour:


bed-money.jpg



I would probably use it to hire or freelance some website work out. Then the rest would probably be spent on server costs and daily advertising over a long period.
 

Rickson9

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Money isn't necessary for entrepreneurs to make money.

As an investor I'd continue to buy US real estate, just as I am doing now.

Best regards.
 
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Inphinity

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Use it to cover living costs so I could leave work and focus full-time on my fastlane ventures to grow them properly.
 

FastNAwesome

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Money isn't necessary for entrepreneurs to make money.

This is great truth. But seems like way to often people get caught up into spending in order to do business. Initial goal was to make money, and they instead just start blowing it, and looking for ways to spend.

I've been through that phase, so eagerly waiting to spend my money on an office and accessory, business cards and whatever. Waste of money.

And when I invested with purpose, and well-though, and not a dime more than necessary, things started going well. The investment I'm talking about was a membership fee for a freelance site (around $10).

So to Lights:

If I had that cash, I'd hold on to it, feel good, and while feeling so good, look for opportunities to earn money rather than spend what's already in the pocket. I would be open to spending some of it, maybe on real estate or whatever, as long as it is a profitable thing to do.

Oh, and I would not ask anyone in real life what to do with that amount of cash.People, be it friends or professional advisors, will always know a "great" way for you to spend your money. No matter how much or how little you have, they'll know just the right thing for you to risk your $. While they're on a steady paycheck.
 
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rain371

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Brainstorm! I'm assuming you have some extra freetime so brainstorm some new ideas to revolutionize a business! Use the money to support yourself until you new business/website/franchisee is up and running.
 

piotrkrzyzek

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Spend a small % to bring my monthly debts to a manageable level, and the rest on marketing/producing products/ect...
 

MJ DeMarco

I followed the science; all I found was money.
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If you had 100 k, and wanted to use that money for a business, what would you do with it?

I'd pay off all my debts and minimize my expenses so I could put all my efforts into building a business, or whatever your goal is.
 
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PaulRobert

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If you had 100 k, and wanted to use that money for a business, what would you do with it?

Anyone can say what they would do with money they don't have. Here is a better question--

What are you going to do with the money that you have now?
 

Rickson9

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Anyone can say what they would do with money they don't have. Here is a better question--

What are you going to do with the money that you have now?

I'm currently buying US properties in Phoenix, AZ.
 

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