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.)

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