Which industry are you going to earn your millions from?

[bizboy]

Hi, so which industry are you going to earn your millions from?

For myself, I would like to start with the internet in advertising (marketing), then start a clothing company and after I create wealth I would like to invest in real estate (apartment buildings).

You?

 

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[bizboy]

1. Technology
2. Marriage
3. Real Estate

Marriage? Your looking for a millionaire wife?

 

[JesseO]

Real estate. From what I've seen in my short 24 years, it is the most solid, predictable, and easily attainable way of earning millions.

I've seen corporate stair-masters, entrepreneurs, Avon, Mary Kay, Quixtar, month to non legal, and realtor programs, etc. In fact I've given too much of my life to much of those. Some of my family have worked for the same corporation for 40 plus years. Pensions are great if you enjoy sucking money from a slow life of minimality. Is that a word? In any case, I love working for what I earn, and like to think that I'm blazing my own trail while following what I've learned from my father. He is immensely successful, and I think his plan is the most solid thing I've ever seen in my life.

Short answer: Real estate.

Long answer: Honest hard work, and intelligence.

Do what you want, and follow it 100%. You will succeed eventually. I guarantee it (Note: No explicit or implied guarantee granted> :-D )

 

[bizboy]

57 views for this thread, only two people posted a reply?

So I guess everyone else is a millionaire.

Ok if your a millionaire already, are you going to enter into a new industry to make millions again?

 

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[snowbank]

Hi, so which industry are you going to earn your millions from?

poker first
more to follow

 

[ramy98]

I am hoping to trade commodities. Its something that interests me a lot.

 

[bizboy]

I am hoping to trade commodities. Its something that interests me a lot.

Something that I have looked into but I found trust issues with buyers since alot of those deals are high volume (big money).

O wait do you mean trading over the computer market or being the middleman between buyer and seller?

 

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[Yankees338]

Ultimately: real estate (commercial).

Before then: eBiz, probably eCommerce.

 

[australianinvestor]

It's interesting that people are posting multiple areas in which they'll make their millions. Remember that each time you change, you need time, money and effort to learn new things. If you focus your efforts on one, you can benefit from compounded advantages like goodwill and experience. If you diversify, you might spread risk, but it can cost you the potential critical mass to become a millionaire. Consider it carefully.

I've changed soooo many times. Dog walking (I was 12), Amway (I was young and stupid) website design, financial services, training services, import/retail, and now just retail. I've improved erey time I opened a new company, but the effort is phenomenal! If I stuck it out in one of the early ones, the effort I wasted could have made me millions in that.

I'm convinced that you can make millions in 99% of industries. It just comes down to how easily you can make them. Michael Porter made a model called "Porter's Five Forces" which has been misused in the past, but is designed to assess the attractiveness of an industry. Try it with yours, and few alternatives to see how it stacks up.

That said, I'm making mine in media (just like a fellow countryman who shall remain *cough* Rupert *cough* nameless). I own other stuff, but that's old news.

 

[ramy98]

Something that I have looked into but I found trust issues with buyers since alot of those deals are high volume (big money).

O wait do you mean trading over the computer market or being the middleman between buyer and seller?

EFT'S and such.

 

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[RaisingWealth]

I plan to make my money through multi-family homes initially then mixed commercial/residential real estate

PS: Lots of views, not many comments = many lurkers

 

[fanocks2003]

Hi, so which industry are you going to earn your millions from?

For myself, I would like to start with the internet in advertising (marketing), then start a clothing company and after I create wealth I would like to invest in real estate (apartment buildings).

You?

Though I have my millions already. But maybe I should aim at having all those millions in the bank instead of bundled up in my company.

My millions are made in finance. Pretty ironic, because I am not a numbers guy. Well, the world is small isn't it?

 

[Dejan M]

Internet.

 

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[HenkHolland]

I made a small fortune in the manufacturing industry and subsequently lost most of it in stock and particularly option trading. I am on my way back up now through stakes in companies in e-commerce, the health products industry and the pharmaceutical industry.

 

[veli]

I feel for you Henk. I've lost a few hundred k's on the market myself. Its something I definitely want to pursue, trading that is. But in the meantime I just have to start making money again What industry it will be is still not decided, Im open for anything really. But I have started the process of getting back into business again.

 

[PablitoCroft]

I am going to make money in the Import/Export business and the grow it in Real Estate.

 

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[santiago]

anything where I can leverage the most...currently working on ecommerce/web based businesses and real estate.

 

[MJ DeMarco]

Very interesting comments ....

My answer if you don't already know ... Internet. (Although authoring could yield millions as well.)

 

[fanocks2003]

57 views for this thread, only two people posted a reply?

So I guess everyone else is a millionaire.

Ok if your a millionaire already, are you going to enter into a new industry to make millions again?

Will I make millions somewhere else? Yes, why not? I mentioned in another post that I am preparing to exit the finance company May 1st 2009 and continue on to the beverage industry to sell some Honey flavoured Green Tea (something that seems to have become a new trend amongst health concerned people. I am one of those that adores green tea. I drink at least 1-2 cups a day). My idea is to have my own brand design and license it from day one. Have exclusive distributors worldwide in order to bring up the importing volume and also raise the revenue stream as quickly as possible in the mother company (the mother company will be a swedish LTD structure). Exit: 2 years after formation. I will exit 100%, 2 years after formation.

Who knows, maybe I can make ten times my current net-worth on that company? Maybe it fails miserably, who knows. But it will be a fun ride I am sure. I love fun products and fun business ideas.

 

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[bizboy]

Will I make millions somewhere else? Yes, why not? I mentioned in another post that I am preparing to exit the finance company May 1st 2009 and continue on to the beverage industry to sell some Honey flavoured Green Tea (something that seems to have become a new trend amongst health concerned people. I am one of those that adores green tea. I drink at least 1-2 cups a day). My idea is to have my own brand design and license it from day one. Have exclusive distributors worldwide in order to bring up the importing volume and also raise the revenue stream as quickly as possible in the mother company (the mother company will be a swedish LTD structure). Exit: 2 years after formation. I will exit 100%, 2 years after formation.

Who knows, maybe I can make ten times my current net-worth on that company? Maybe it fails miserably, who knows. But it will be a fun ride I am sure. I love fun products and fun business ideas.

I think you will have great success with tea beverage in Europe, here in the states there is a company Arizona Ice Tea which has great success.

 

[TaxGuy]

so far gotta give the best post award to fanocks although we all know MJ's story through his thread...

for me the short and easy answer is real-estate...

beyond that, it's still a mystery, while I own my own property, a single family home that I live in and generate revenue(well get my mortgage paid for) through roomsharing with 3 roommates at the moment, I would like to become a better market analyst as I have a friend who owns 7 properties, all of them foreclosures which he put a good amt of work into(I helped and he had an Eastern European handyman who did contractor quality work for $12/hr), but at the moment reselling was not an option so he has them rented out, which when I start buying income properties will have to assess whether to short-sell or sit on them and generate revenue to pay for the investment until it matures to a sizeable profit.

I am also blessed to have a CPA for a father and knowing that there is a HUGE tax break for selling a property after establishing residency for 2yrs or more, so I'm "stuck" with my current house(which I've lived in since I was 2) for atleast 18 months before I sell to avoid a major tax hit.

With that in mind, another route I'd like to pursue is accounting, while my degree in German language(without the course-work/certifications to pursue a teaching position) is about as worthless as the piece of paper it's printed on, I know the best way to get into accounting is through the perfect resource... MY FATHER... and studying the proper materials to get both an EA and CPA certification while at the same time assisting him in his business and figuring out ways to expand and improve it, thankfully EVERYBODY needs accounting services and despite all the software out there, a LOT of ppl still need their taxes done, there's the need and fulfilling it is a way to make millions :smxB:


so short of telling my life story, there's how I intend to make millions, now the bottom line is going out there and getting it done and most importantly like the established millionaires on these forums, not sitting on my laurels and finding new outlets to make more millions

 

[msa1]

I really enjoy real estate but am having a hard time progressing at this point. I'm working my way up. I have 5 houses right now and am at the point where I need a little guidance to get me to my next perceived level, commercial property.

 

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[bizboy]

Will I make millions somewhere else? Yes, why not? I mentioned in another post that I am preparing to exit the finance company May 1st 2009 and continue on to the beverage industry to sell some Honey flavoured Green Tea (something that seems to have become a new trend amongst health concerned people. I am one of those that adores green tea. I drink at least 1-2 cups a day). My idea is to have my own brand design and license it from day one. Have exclusive distributors worldwide in order to bring up the importing volume and also raise the revenue stream as quickly as possible in the mother company (the mother company will be a swedish LTD structure). Exit: 2 years after formation. I will exit 100%, 2 years after formation.

Who knows, maybe I can make ten times my current net-worth on that company? Maybe it fails miserably, who knows. But it will be a fun ride I am sure. I love fun products and fun business ideas.

You should create the same company in Europe, I think it would be a success in Sweden and the rest of Europe.

Sambazon Acai: Acai Fruit and Acai Juice the world's #1 source for the antioxidant-rich Amazon Superfood.

Checkout the video
[ame=http://www.youtube.com/watch?v=0drc7E4_m0g&feature=related]YouTube - Sambazon Acai[/ame]

 

[fanocks2003]

You should create the same company in Europe, I think it would be a success in Sweden and the rest of Europe.

Sambazon Acai: Acai Fruit and Acai Juice the world's #1 source for the antioxidant-rich Amazon Superfood.

Interesting stuff. I don't do licensee or franchisee stuff do. I can't follow others systems that well. I rather create my own product and brand and company.

But as everyone can see in this video of yours, healthy beverages is on the popularity list right now. Amongst everything I have done in my life, the Honey flavoured Green Tea is the only product that has recieved really big support. It seems like almost everyone I speak to want to drink this. The question now is: Will they pay my price?

 

[HenkHolland]

Fanocks, I presume you're not going to ship bottles of ready made honey flavoured green tea across the world, but will grant production licenses. Is my assumption correct?

We're selling a syrup that is produced in the Netherlands in a number of European countries. Presently we're discussing a manufacturing licensing arrangement with an American company because we don't consider shipping bottles across the ocean to be the most attractive option.

 

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[Smurf]

Real Estate is a classic...I did well in the begginings of this millenium and made some interesting money of it...i got out in 2004 ...

another interesting activitie is Olive Oil Trading...very nice, the market has a a huge fluctuaction over the year and there is money to be made...

 

[fanocks2003]

Fanocks, I presume you're not going to ship bottles of ready made honey flavoured green tea across the world, but will grant production licenses. Is my assumption correct?

We're selling a syrup that is produced in the Netherlands in a number of European countries. Presently we're discussing a manufacturing licensing arrangement with an American company because we don't consider shipping bottles across the ocean to be the most attractive option.

Yes, licensing is the most sane form of distribution of physical goods. It just doesn't make sense to have it shipped to Sweden and then to the destinated country. It just drives up prices and lower or even eliminates any profit margin you might have.

Better then to grant exclusive distribution licenses in each country you want to be present in. Much better.

In order to accomplish this licensing thing I will need to first sell stuff in my own country (to prove concept). I do follow the 8 step approach my business challenge is all about. And in that 8 step approach licensing is the last step there is. So I will need to import to Sweden, test drive it against end customers first and then (if it can be sold for the price I want to charge) I can license it.

My game plan is very much like this:

1. Sell 3000 units of Honey Flavoured Green Tea in Sweden. I will sell it to a licensed retailer (holding an exclusive distribution license for my brand). They need to guarantee on paper that they will purchase 3000 units during the course of 12 months. This will prove my case, that this is a sellable product to retailers. In order to prove to the retailer that it is possible to sell every bottle at the price I want them to charge I will order one unit of 30 bottles from the manufacturer and sell every bottle to end customers and keep records of sales activities. This will prove the case to the retailer (very important). So, end customer testing first. Prove the case. Then retailer testing. prove the case. Then we are on the go.
2. Wrap my brand around every bottle (I will need to have my brand wrapped around the bottles I sell to end customers) I will sell. This brand will have a brand promise (I have not yet come up with a good enough brand promise).
3. Form my swedish Ltd company, find a CEO, find an accountant etc. Find the team to operate this for me.
4. Find partnerships to team up with.
5. Build up some equity in the business. Might sell of some parts of the company. Maybe not. I will not recieve that much cash at this step. I will get more at step 6.
6. Acquire businesses with similar brand promise. Hence increasing the ability to earn more profits and hence gaining more when selling out. On this stage I need to bring an expert in Mergers & Acquisitions on board the operating team. Someone who can over see the process.
7. If I have not yet cashed out on step 6 (the probability is high that I will cash out on step 6 in fact) there will be another focus. This focus is on delivering quarterly dividents from the business. Ongoing dividents.
8. I will license the brand abroad. Step number 1 should really be about proving the end customer relation. Proving that it is possible to sell every bottle at the end customer price I set. And step 8 would in fact be the last developing stage in the business.

Just a screening of my idea in a little bit more detail. My game plan.

 

[HenkHolland]

Fanocks thanks for your reply.

How are you planning to protect the recipe. Do you have some protection in place or will you go for the Coca Cola model (just keep it secret)?
In our case, we have patents in place relating to the pharmacological effect of the product.

As to your game plan, your desire to sell the company once you've created some value is understandable. It's comforting to have liquid assets in the bank instead of having them tied up in a company. On the hand the strategy of merging your brand with other brands could create lots of synergy thereby skyrocketing the value of your company. Anyway, you have time to decide on that. You can cross that bridge when you reach it.

 

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[fanocks2003]

Fanocks thanks for your reply.

How are you planning to protect the recipe. Do you have some protection in place or will you go for the Coca Cola model (just keep it secret)?
In our case, we have patents in place relating to the pharmacological effect of the product.

As to your game plan, your desire to sell the company once you've created some value is understandable. It's comforting to have liquid assets in the bank instead of having them tied up in a company. On the hand the strategy of merging your brand with other brands could create lots of synergy thereby skyrocketing the value of your company. Anyway, you have time to decide on that. You can cross that bridge when you reach it.

Well, the ingredients are no real deal per see. The ingredients are very easy to copy. But, of course I can create the illusion of a secret ingredient.

The real protection that makes my product stand out is the brand. There can only be one brand (there can't be two identical brands). The thing is that every market matures sooner or later, so will this one as well. The only thing that then makes my company able to sell the same product for the same price as in the start, is the brand quality. Do the company meet quality levels? If yes, business is flowing. Will someone copy my product if it becomes a success? Absolutly, but the real question is: Will they keep up with quality levels? Will they keep up with good customer service? Will they keep up with great delivery? Many things to cover.

I will not sell my shares before I have 2 acquisitions under my belt. Like you said: Higher sales price of my stock should be possible (if the companies are profitable).

Liquid cash = Smart. Tied up money = Perhaps noble, but not at all smart.

 

[fanocks2003]

Why not pay someone to write a few articles on famous newspapers about how Chinese tea has potentially high levels of insecticide? Then advertise your tea as inspected for insecticide. Of course you will choose a credible source to get your tea from, maybe cost you a little more, you could sell it for outrageous prices knowing it's Europe .

My aim is to sell it for a premium price per bottle. I will use the brand promise to explain the price. Good quality, higher price.