$3,000 to $1,000,000 in 15 months: HOW TO DO IT

It's literally just taken me over an hour to read every post in this thread but it was amazing. I'm in a very similar position:

-I'm 17
-I have a savings account worth $4,000
-I'm moving into a dorm this January to go to college

So right from the on set the standard e-commerce site is out because I am going to a dorm and I can't store/ship products. Furthermore blogging and informational sites that take alot of updating would be too time consuming and not fastlane enough. I've developed a few ideas but nothing I've pulled the trigger on yet.

I first thought about creating an e-commerce style site but using drop shipped items instead. This would cost $130 to pay the set up fee for Volusion to build a basic site. Then it would cost $500 to get a distributor source that includes all the legitimate drop shippers and their buying guides. This would definitely be a decent start up, but I'd be selling products that other stores sell cheaper and already have established reputations. I also don't really think I would be solving a need and it wouldn't be worth $1 million in 15 months.

So I started thinking outside the box and I came up with some ridiculous ideas. For example, I came up with an idea to start a real estate investing simulator. Something like a stock simulator, but it would have different properties with different income sheets. I thought it was a neat idea, but it would cost more than $4,000 to get the site built - especially since I don't have any web design or programming skills. This type of e-business would have large growth potential, but it's not feasible for me.

I've come to a few conclusions as I continue my hunt for an online venture. First, I need to find a venture that is feasible (unlike the real estate simulator) but also has growth potential (unlike the drop shipping business). I have also realized that an online business that is based on monthly subscriptions is ideal because it provides for passive income and the company could be sold very easily.

My current challenges: creating an e-business idea that has this type of subscription business model by selling a software service or information. I've realized that most monthly subscription sites are either selling a software services (like an e-mail marketing site) or content (like buying an online subscription to a magazine.)

I'll keep everyone updated as I go about this task.

djs13: Great start-- keep going!

-Russ H.

__________________
"Control everything. Own nothing." -John D. Rockefeller

"Don't confuse motion with action" -Ernest Hemingway

No .sisepuede85, you need to do more than this.

You need to think about this-- long and hard.

You need to develop ideas from dreams into reality.

You need to develop an entire business structure-- top to bottom

And after you have all of this planned out, you need to DO SOMETHING.

-Russ H.

__________________
"Control everything. Own nothing." -John D. Rockefeller

"Don't confuse motion with action" -Ernest Hemingway

You're right Russ. I've been reading E myth and it all is so clear now. I have had 2 businesses close in the past due to me overworking. I had a products and they sold. I had no structure in place and had to close the doors before losing my health. Now I am developing other businesses but the structure will be there first. +++speed

So in a little conclusion, has anyone here found a nice formula with the 3K to 1M in 15 Months?
if they are Real,can anyone be the Guinea pig it and prove it (Great benefits 1M lol )

I would think using the $3000 to start a small business

2.using business, Achieve 50K (For example) in 4 months profits and use as Capitol for new business

3.now you have 2 business's, using both achieve profits with 250K in 5 months (9months passed)

4.Repeat step 2 with a goal of 6 months left

5. on and on and on...

and using that little structure you can achieve 1M at least and go from there on out, Although figuring out your Fastlane vehicles is the only thing left to figure out.

I wish you the best of luck my friends, as this is the little system I am working on in my life which is showing growth

At the end of June (so, two months ago) I started my own little "from € 6,000 to € 500,000 in 15 months" experiment on the side. My vehicle is trading options. I try not to over-trade and limit my trades to on average max. 2 per week. I don't want to spend too much time on it anyway.
Yesterday I reached the € 23,500 mark. So, provided my win/loss ratio and my discipline don't deteriorate too much I think that the goal is not unrealistic. Although I hope that it will be possible, I don't dare to expect that I can increase my money fourfold again in the next two months.

I'll keep you informed.

Rep Speed, Henk, for DOING it in the real world.

Not all $3K-1M plans will yield a million dollars (or 500K Euros).

But if they are successful, you'll have more capital for your next fastlane venture!

-Russ H.

__________________
"Control everything. Own nothing." -John D. Rockefeller

"Don't confuse motion with action" -Ernest Hemingway

Thank you Russ.

This is probably one of the most inspiring threads I've read on the Internet in a long while. I've taken this as a personal challenge to see how far I can take it. So I've gone ahead and registered the domain and am now developing a website. I've given myself a deadline to have it in beta by the end of this month.

I think I'm on track, considering I've actually been excited about this and gave up a few nights sleep over the weekend to work on it.

I figure if it works, I'll have that million in a few months to work with and if it doesn't, I've got that failure to figure out what I did wrong and improve for next time.

Money spent so far is just the domain registration.

I have a million different business ideas, but none of my ideas are cheap or easily gettable, each one will cost about £100k to set up... I have about 36p in my bank.

AdamC-

Have you read through the whole thread?

-Russ H.

__________________
"Control everything. Own nothing." -John D. Rockefeller

"Don't confuse motion with action" -Ernest Hemingway

THAT is a fastlane attitude!

Rep speed for you-- for DOING!!

PS Don't hesitate to let us know how it's going-- even if things don't make you a mil, tell us what you've learned.

-Russ H.

__________________
"Control everything. Own nothing." -John D. Rockefeller

"Don't confuse motion with action" -Ernest Hemingway

Adam,

I'll be blunt/honest and say no they won't and you're just making excuses for yourself. If you want me to expand I can, but I think you probably already know this.

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http://snowbank23.blogspot.com/

awesome, congrats. keep us posted.

__________________
http://snowbank23.blogspot.com/

Thanks.
I'll try to post my position around the end of each month.
So far, the high volatility in the market these days has helped me make extraordinary returns.
I am working hard on not becoming too greedy. Greed is a surefire road to losing everything again.

So here's the thing. I've kind of gone through a whole range of emotions today. I think if I hadn't been following along with some of these threads, I'd have given up my website idea this morning.

I was doing some more searches on the web regarding what I'm plannig to do with my website and one thing led to another and I finally ended up looking around at some of the business pages on the ca.gov website... Needless to say, my potential business falls into a category that the Great State of California decided I need a multitude of things (bonded, years of experience, money) that I don't have. If I'd posted right after finding that tidbit of info, I might have suggested that I've learned to do my searches before wasting my money on a domain name...

After letting the problem just sit today while I was at work, I made a conscious decision to look past the problem and see if there were any solutions. I hate the term "think outside the box", but this is exactly what I had to do. So I've come up with one possible solution, which I've already taken some action on. I need to brainstorm a few more ideas in case this doesn't work.

So what have I learned? I've learned not to let a roadblock stop me. There's a detour around the corner if you're willing to overcome your fears and just drive...

Maynard

It's time for an update.
The stock market has been a roller coaster since my previous post. And so has been my trading account.
In the past 30 days my account went up from € 23,500 to almost € 65,000 in 6 trades. And then in two trades I blew about 70% and now I'm back down to € 19,000.
I did not adhere to proper money management and basically started to gamble. I'll have to improve that.

Another contribution to this thread:

1) Find something unique to sell or find an ordinary product and create an irresistable marketing offer.
2) Buy a targeted list with those $3000 and email out an offer by email.
3) Process the orders coming in after such a DM campaign. Setup a corporation.
4) Use these sales as proof of concept and buy a list of targeted distributors (email lists). Create a sales message and sell exclusive licenses worldwide with a guaranteed minimum amount paid to your corporation each quarter (minimum order amount) (on contract).
5) Find an investment bank and have them search for strategic buyers onm your behalf (and sell the deal for you) and sell out as expensively as possible.

The last stage may take more than the set amount of time, but may take place in less time as well. The first 4 stages should take no more than 6 months. Preferably faster than this.

__________________
"Make as much as you can for as long as you can. Whoever has the most when he dies is the winner." - Lawrence Garfield in the movie Other People's Money

I like the way you gave a structure to this, while still keeping the "product" open, fanocks.

Spending the entire $3K on the list is risky, even if you have the right product. If your marketing efforts are not good, or your order processing is shabby, or you have problems w/fulfillment/shipping, etc-- any of those things could kill you.

Even timing is an issue-- if you send out the emails when your target group is focused on something else,
<POOF!>. There goes your biz.

You know all this, of course.

I only add it for others who may not have been down this road before.

-Russ H.

__________________
"Control everything. Own nothing." -John D. Rockefeller

"Don't confuse motion with action" -Ernest Hemingway