What Would You...?
 

I know this question (or a variation of it) has been asked quite a few times on Sowpub. But I don't remember it being asked on the new Sowpub forum...

So here goes:

What would you do to make more money if all you had was $100?

Should get some creative juices flowing.

(Question updated from "What would you do to become rich if all you had was $100?")

Re: What Would You...?
 

Depends on how you define rich, Ankesh. Some folks would be rich just by giving it away, perhaps in small increments to folks to start an enterprise to support themselves with, or perhaps for some other worthy cause or effort.

Imagine you mean to make money, however, so...probably use it to get some chatteling going to make the money grow until I could start more solid and predictable investments with guaranteed rate of return or perhaps just more investments. Chatteling, if done right, is next best thing to internet activity IF you know what you're doing (that's key), for increasing income faster than inflation, IMHO...especially if you don't have a lot to start out with.

This assumes, of course, one doesn't have unpredictable problems with health or other things that interfere.

Sandi Bowman

Re: What Would You...?
 

Hi Ankesh,

I believe you are referring to the infamous (at leat for me) Michael Ross Challenge and Dien Rice Game Show Thread.

I won't spoil this thread by linking to them. However I agree with Sandi what is "Rich" how are you defining that AND is there a timeline ie. 30days? a Year?

Think that would help focus the responses we get.

Thanks

Duane

Re: What Would You...?
 

Ankesh,

I know it's not what you're Looking for But since very few Unexperienced Entrepreneurs will be able to Realalistically become so called "Rich" based on a $100. business idea... :)

My Suggestion is to Start Applying the following Non-Hype method into your Life as I've mentioned a few times before...

Start getting Smart & Rich for about 2 Bucks for a Used copy... ;)
http://www.amazon.com/Millionaire-Ne.../dp/0671015206

Guaranteed to Work if you Make it Work!

Phil

Re: What Would You...?
 

That Easy and I may due I get a product and get stamps and write a great ad and send it to a list. I can do that for less that $100. You might have to jv for some of the items but It can be done.

I once got a list of taxpayers that owed money and sent an ad to the list for less that $100. I pay $26 for the list. Wrote a letter with the headline. I will get your out of the grip of the IRS for $90.00. People could believe I do for that little they always gave me more money than the $90. I don't do it for less than $300 now.

I may do that again for the list if I run out of money, and not make money iwth my Pictures or doing a joint venture with my client in Avon product sales.

If you have any good products to sell I like to hear from you. I have 22 ways to sell products and I even wrote a 60 ways to sell products. Finding good products is not easy. Selling it is not easy. But you have to test test and test. And I know how to do it cheap. Never make more than one protype when you have a product. Don't get a inventory until you know you have sells. I am listening to Mr E. Joseph Cossman course again. He was smart in these ways. So is Melvin Powers and Jim Straw. But for my money E. Joseph cossman and his son are number 1. Jim Staw number 2 and Melvin Power number 2. They are both about equal.

Just how rich is rich, really?
 

Thought I'd Ask... :)

It's always Good to Know... ;)

How rich is rich?
http://money.cnn.com/2003/07/23/comm...hadi/index.htm

http://articles.moneycentral.msn.com...ichReally.aspx

Phil

Re: What Would You...?
 

Hi Ankesh,

Here's what I'd do...

First off, for living expenses, I'd start "chatteling" - that is, buying and selling, possibly on eBay. You can make good money doing this. I wouldn't buy stuff at thrift stores and garage sales. Instead, I'd be checking out overstock/surplus/closeout type items. Things I could buy NEW at below wholesale price, then resell... (I've done this before a few years ago, with surplus MP3 players back when they were new, and I could easily do it again with other items...) I'd be happy to sell online (eg. eBay) or at flea markets - depending on the item(s) I was selling... I'd do this to build up my cash reserves. The great thing about chatteling is - you can make money almost immediately, and you don't need a lot of cash to start. (Gordon Alexander, of course, is the "master" of chatteling - he literally wrote the book on it!)

At the same time, I'd also be looking into building an info-product business... Selling info-products online. I'd be open to selling other people's stuff (as an affiliate), as well as working towards creating my own stuff... If I were to start again, I'd probably focus on an area other than business information - because many of these other areas have less competition...! I'd try to set it up so that it would be as "automated" as possible...

I'm also interested in distribution (that is, of physical products). While I do have some experience in that area (helping my brother with a blank CD-ROM distribution business he set up in the past), it's something I'd like to take further... I can't say exactly what I'd deal in, because I'd have to check out the opportunities and choose what would look to have the most potential at the time...

I'd be working on my info-product business (which would hopefully be on semi-auto-pilot) and the product distribution business to grow them both!

I don't know if there's anything particularly illuminating there... Except, if you're low on cash, chatteling is probably one of the easiest businesses to start, that can turn a profit quite quickly!

Cheers :)

Dien

Re: What Would You...?
 

Hi Ankesh, I would borrow a camera and invest $10 into printing up some certificates for a "Pet of the Week" contest and take them to local pet stores, Vets and groomers and within 2 days time I'd be shooting and selling pet portraits and I'd be back on my feet in no time!

Cheers,
Steve Shulenski
www.PetPhotographyBusiness.com

Re: What Would You...? if it was my last ( or only) $100
 

if it was my last ( or only) $100, I'd buy a used lawnmower. at the end of the day I'd have another $100 ( or close).

if I had an extra $100 or $100 per month to work with I'd use a combination of chatteling and ebay to grow a business. then add my own products and services.

Re: What Would You...?
 

I gave my 20th century response ( and one that applies to the southern climes where grass has to be cut 10 mos. of the year) I should give my 21st century reply.

if I had $100 I'd make up a nice business kit and remove spyware from computers, also giving them a basic cleaning.

then add the sale and installation of computer parts/upgrades & chatteling of computers and parts.

Re: What Would You...?
 

Greetings Ankesh,


This is easy.

I would make an ad layout, that would go on a mug.

I would use the $100 as gas money to drive around to different businesses.

I would invite them to be apart of my promotion.

I would guarantee them ad exclusivity, from their competition.

I would provide them with a captive audience, for 1 sold year or their money back.

I would donate the mugs to prequalified businesses, that will put the mugs into use right away.

The businesses that take part, pay all the expenses and profits up front and no money ever comes out of my pocket.

When I do these promotions, I pocket between $1600-$2000 free and clear. My first year I did 8 promotions.

Click Here to grab a copy of my easy step-by-step how-to system today.

Woody Quiñones
The Promotional Guy

Re: What Would You...?
 

Some Good ideas...

But let's be Honest. :)

Ankesh's Question was...

(Question updated from "What would you do to become (rich) if all you had was $100?")

And getting Rich, whatever it might mean to "You" takes Hard Work and Time for most... ;)

Otherwise it Ain't going to Happen!

Afterall...

How long did it Take all you 6 Figure Plus Income guys & gals to Get to your Level of Success?

And We know there's a few SowPubbers in the 6 Figure Plus Club... :)

Maybe a Topic for another thread...

Phil

Re: What Would You...?
 

Been there - done that - got the t-shirt.

But seriously, I've been in that position more than a couple of times and could give you a list of the things I WOULDN'T do again.

On the top of that list would be "attempt to start a business".

In the big picture, $100 is pretty much the same as $0

If I had to do it all over again, I'd take that $100 and fill up the gas tank and stock up on food.

Then I'd go out and get a job a try to get something going on the side until I had a substantial amount put away to start a real business.

Jim

Re: What Would You...?
 

Just a year, that's all.

Well, that's if you don't count the 17 previous years of living dirt poor while trying to figure things out and jumping from one idea to the next without being able to perfect a single one.

But who counts that stuff anyway?

That was all the "learning" and "trial and error" stuff.

No need to count that stuff.

Once things were figured out, just a year (and about 20K in equipment) to 6 figures.

I should note though, that I have never actually paid myself 6 figures, not even half of that. I've never had the need. This is a big mistake (IMO) that I see a lot of people make when they start to make real money.

I'm much more focused on growth than I am on income at the moment. It would have been real easy to pay myself 100 or even 200K the last few years but I don't want 100 or 200K a year. I want a million bucks a year, and until I'm there, pretty much everything goes right back into the business to grow it to that point.

Once I'm there, I'll gladly forget about future growth and focus more on stability and maintenence of the business, and I'll gladly put that million a year in my pocket.

Jim

What would Branson do?
 

Hi Ankesh,

Your original question dealt with becoming rich. As you probably guessed, I'm fascinated not so much with the Individual techniques of money generation, but more so the Mindset of truly successful people.

That said, I was instantly reminded of a passage I had read about Richard Branson and what HE would do when his company was "Cash Strapped" (whatever that really means for Branson). Not An exact match to your challenge, however I figured it would be wise to peak inside the mind of a "RICH" person since that was the End Result of the challenge right :->

"When Branson's Firms ran out of cash he EXPANDED instead of cutting back,
which is the conventional wisdom. To escape from chaos create more chaos.
The problem is often lost in the resolution. Branson's approach appears to be a bit foolhardy but it is the path to power for those with the intestinal fortitude to live life on the edge. As I tell my class, Tattoo Spider-Man on your psyche and attempt to fly across steep precipices and sometimes you just might make it." (pg 30 of 246 The Superman Syndrome Dr. Gene Landrum)

I have heard Dan Kennedy Mention a similar attitude when asked what he would do different when times were "BLEAK". Dan answered something to the effect that he would be working on TWO plans.

Plan #1 would be taking care of the current pressing need. BUT

PLAN #2 was to be working on a BIG, JUICY Plan that REALLY got him Excited.

So A BIG Part of your challenge would be to Ignite Your Imagination. Form a BIG HUGE Juicy Picture of A PERFECT End Result (Like Gordon Mentioned Get Clear).

I mean if you are gonna think...

"THINK BIG...Live LARGE" Donald Trump

Everyone reading this can sort of "benchmark" where their answer stacks up in terms of similarities or differences to some these "Rich" people

Just a thought...

Duane

Re: What would Branson do?
 

Hey Duane,

On the Mention of our buddy The Donald... :)

Interesting Reading...

Some Free... some Not...

And for those that might need a little business web Traffic...

There have been a few posts, where the Links...

Have received some “Incredible” Traffic just for being part of The Donald...

Definitely... Think about Getting some Donald exposure...

Of course, you've Got to be Creative to get his guys to write about You and/or a Quality information exchange to get that Powerful Link exchange... ;)

http://www.trumpuniversity.com/blog/index.cfm
http://www.trumpuniversity.com/
http://www.trump.com/

Phil

Re: What would Branson do?
 

Thanks Duane for talking about the mindset.

We know what Aristotle Onassis would do with $100. Rent a suit and go where the rich hang out.

Thanks also for reminding about Dien's Game Show posts. They are some of the best posts of sowpub. I'd printed them out when I first read them.

I did have that thread in mind. In fact, if I just had $100 I would do what the winner of the Game Show did.

Organize a seminar. Barter with the speaker and give him proceeds of ticket sales. Promise to pay more for the place and food after the event. Joint venture with the speakers themselves to promote the event. And sell a few things at the end of the event.

This is a bit complex to pull off though.

Another quick idea I would chase is the pizza coupon idea discussed on sowpub some time back. Its I think one of the easiest ideas to pull off with very good returns - if you have almost no money.

Get the pizza places permission to print and sell their pizza coupons. Go door-to-door (or hire students) and sell the coupon sheets. $50 coupon sheets can sell for $10. Only cost is printing cost.

--

Chatteling is a good idea too. But I've never gotten deep into chatteling.

This is very interesting reading:
http://oneredpaperclip.blogspot.com/

And so is Gordon's experiences in the chatteling forum.