What Would You...?

[Dien Rice]

Originally Posted by Ankesh

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 become rich if all you had was $100?

Should get some creative juices flowing.

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