In two days my 50c challenge will begin, and I can feel my nerves twitch.
The idea of changing 50c into R1 seems simplistic at first, but when you get right down to it, there is a lot more to it.
So the current ideas range from selling the 50c with the dream of making it R1 000 000 for one rand to buying a 50c piece of wire and making some sort of artifact that can be sold for one rand. The worst part is that the suffering does not end when the R1 has been made. I foresee hard times up until the point where I can work with R100 or more, as this gives you a little bit of scope. For the first few transactions I see myself producing a single item at a time and selling said item for more than the price of the raw materials. In this process I feel that physical labor and ingenuity will add value to the raw materials.
This is early days still, and I can imagine myself pushing really hard to come up with new ways of making money and staying in the game. Thus far I need more time to plan.
Still I can not wait to turn that first 50c into R1 and get this party started.
Join me on April 1, 2009 for the first transaction. I will not be able to guarantee perfect form in following the schedule, but I can assure you of constant action right here on my blog
Monday, March 30, 2009
Wednesday, March 25, 2009
Got my invitation
So yesterday was a big day in my 50c challenge, the day of invitations, together with my shiny 50c piece. Now I'm not supposed to start with this challenge until April fool's day, but I do not know if I'll be able to wait that long.
With my next post I will probably have a picture of me with my challenge letter, so then you will know what I look like. This is if I can wrestle it from Gericke in time.
So my current mood is extremely exited!
Hope you have fun watching me, and I'm certain that in the beginning I will be making a complete fool of myself.
Monday, March 23, 2009
The Rules
The 50c challenge is about playing with money in order to learn how to make money. All contenders will start with a 50c coin and a schedule to guide them towards the 1 Million goal. In order to succeed there are a number of guidelines and rules to follow.
You will need
1. One tin to store your cash
2. Wits
You will get
1. After the challenge expired, or you decided to quit, all the money made up to that point will be your to keep and use as you see fit. You have NO current or future financial obligation to the founder of the game or his affiliates, except where potential syndication and media deal may transpire.
2. If you successfully complete the challenge as part of the original group of maiden contenders, you will receive an equal share in the profits generated by the book.
3. You will be part of a growing network of entrepreneurs and receive ample support from everybody involved.
4. You will get experiences you may have never received otherwise.
5. You will receive your first 50 cents from the founder, making this a zero risk game.
Rules
1. You may only use the capital in your tin. In other words, you may not borrow from your own pocket or elsewhere to make a deal.
2. All money must be earned by providing a product or service. No begging, stealing or any other illegal/unethical activities.
3. You may not use this money for any other purpose than playing the game until the end of the 199 days.
4. All the money you make will be your own to keep.
5. This is not a competition, it is a personal challenge that aims to track the progress of the participants. `therefore, if you lose all your money, you have one of two options - either look for investment from your fellow participants (no outside money allowed), alternatively you may scour streets and parking lots to restart your game.
6. Investments from other players are allowed. Once again, you may only invest the money available to you in your tin.
7. Income from your regular job may not be used in any way. Conversely, you may never use the money in your tin for day to day living or any expenses not related to the challenge(including "borrowing").
8. In order to successfully complete the challenge, you must a) remain active for the full 199 days, b) keep track of all transactions during this period and c) keep a journal of your activities and experiences.
9. All records must be made available to the founder for use in the book/other potential media.
10. The founder reserves the right to use the stories and other information in different forms of media free of charge.
11. You my quit at any time and keep your profits. By doing so you forfeit your share in the book profits as you will not have completed the challenge successfully.
Guidelines
1. Collaboration is allowed and encouraged
2. Try to do business with strangers - when we do business with family we eat into the financial system we are part of which is counterproductive
3. Do what works, you don't need to be a creative genius to make money - simply doing what worked for someone else is often good enough
4. If what you are doing does not work, do something else. Anything else.
5. This is Not a competition. We want to help each other and learn from each other. Be willing to share what you have learned - this will increase your chances of success.
6. What is true in the small is true in the big - the same principles of economics apply to turning 50 cents into R1 as does to turning R500 000 into R1 million
7. This game is designed to push you out of your comfort zone - your mind will try to tell you that a) you can't do it or b) you don't have time for this or c) the ideas are too crazy to try. Ignore your mind, it doesn't know what it is talking about.
8. The challenge isn't a writing competition - your journal needs to be accurate and should reflect your personality. Don't spend too much time trying to turn it into a literary masterpiece.
Let the adventure begin!
(This section will be updated and refined as we progress in the game.)
You will need
1. One tin to store your cash
2. Wits
You will get
1. After the challenge expired, or you decided to quit, all the money made up to that point will be your to keep and use as you see fit. You have NO current or future financial obligation to the founder of the game or his affiliates, except where potential syndication and media deal may transpire.
2. If you successfully complete the challenge as part of the original group of maiden contenders, you will receive an equal share in the profits generated by the book.
3. You will be part of a growing network of entrepreneurs and receive ample support from everybody involved.
4. You will get experiences you may have never received otherwise.
5. You will receive your first 50 cents from the founder, making this a zero risk game.
Rules
1. You may only use the capital in your tin. In other words, you may not borrow from your own pocket or elsewhere to make a deal.
2. All money must be earned by providing a product or service. No begging, stealing or any other illegal/unethical activities.
3. You may not use this money for any other purpose than playing the game until the end of the 199 days.
4. All the money you make will be your own to keep.
5. This is not a competition, it is a personal challenge that aims to track the progress of the participants. `therefore, if you lose all your money, you have one of two options - either look for investment from your fellow participants (no outside money allowed), alternatively you may scour streets and parking lots to restart your game.
6. Investments from other players are allowed. Once again, you may only invest the money available to you in your tin.
7. Income from your regular job may not be used in any way. Conversely, you may never use the money in your tin for day to day living or any expenses not related to the challenge(including "borrowing").
8. In order to successfully complete the challenge, you must a) remain active for the full 199 days, b) keep track of all transactions during this period and c) keep a journal of your activities and experiences.
9. All records must be made available to the founder for use in the book/other potential media.
10. The founder reserves the right to use the stories and other information in different forms of media free of charge.
11. You my quit at any time and keep your profits. By doing so you forfeit your share in the book profits as you will not have completed the challenge successfully.
Guidelines
1. Collaboration is allowed and encouraged
2. Try to do business with strangers - when we do business with family we eat into the financial system we are part of which is counterproductive
3. Do what works, you don't need to be a creative genius to make money - simply doing what worked for someone else is often good enough
4. If what you are doing does not work, do something else. Anything else.
5. This is Not a competition. We want to help each other and learn from each other. Be willing to share what you have learned - this will increase your chances of success.
6. What is true in the small is true in the big - the same principles of economics apply to turning 50 cents into R1 as does to turning R500 000 into R1 million
7. This game is designed to push you out of your comfort zone - your mind will try to tell you that a) you can't do it or b) you don't have time for this or c) the ideas are too crazy to try. Ignore your mind, it doesn't know what it is talking about.
8. The challenge isn't a writing competition - your journal needs to be accurate and should reflect your personality. Don't spend too much time trying to turn it into a literary masterpiece.
Let the adventure begin!
(This section will be updated and refined as we progress in the game.)
Thursday, March 19, 2009
Pre Challenge
A few days ago a good friend of mine came to visit me, he wanted to come and share his ideas on making money and teaching other people to do the same. His theory is that most people never make enough money because their thoughts on money and attitudes towards money is wrong. So he thought up the 50c challenge.
The basic idea is that you take 50c and place it into a large cake tin, you then have one day to use that 50c and turn it into R1 (our biggest currency, to you it might be $ or what ever). Then you have another day to turn R1 into R2. As the days progress the amount you have to make gets bigger and bigger, but the amount of time also gets longer and longer.
So I'm waiting for him to send me my invitation explaining the rules of his challenge so I can start working on it. on this blog I will track my progress in "the 50c challenge" who knows what will happen.
All rights with regards to "the 50c challenge" belongs to Burger Gericke Potgieter, this includes but is not limited to, the concept and idea of the challenge, all movie, book and tv rights with regards to the challenge name, and idea behind the challenge, spinnoff projects and derivitives of "the 50c challenge"
The basic idea is that you take 50c and place it into a large cake tin, you then have one day to use that 50c and turn it into R1 (our biggest currency, to you it might be $ or what ever). Then you have another day to turn R1 into R2. As the days progress the amount you have to make gets bigger and bigger, but the amount of time also gets longer and longer.
So I'm waiting for him to send me my invitation explaining the rules of his challenge so I can start working on it. on this blog I will track my progress in "the 50c challenge" who knows what will happen.
All rights with regards to "the 50c challenge" belongs to Burger Gericke Potgieter, this includes but is not limited to, the concept and idea of the challenge, all movie, book and tv rights with regards to the challenge name, and idea behind the challenge, spinnoff projects and derivitives of "the 50c challenge"
Subscribe to:
Posts (Atom)