The cold wet winter we have all been waiting for finally arrived this week, and it is freezing. Still there is no rest for those who want to make some money.
The fudge business eventually slowed down, like we knew it would. New business opportunities need to be explored, and not only explored, but put into action. If their is one thing that I have learned to be true it is that there is a fine line separating the successful from the rest. Those people who are successful take action, massive immediate action. The rest gets bogged down in lists, planning or excuses. The challenge is simple, how does one turn a little over R200 into R400? What industry to be in, and how to go about it.
I have just finish reading "Around the World in 80 Trades" and it became an inspiration to me. Now to find the product to trade...
Thursday, June 25, 2009
Friday, June 12, 2009
R600 000 in one day, sounds like a scam to me
I recently received an email from Dr Hannes Dreyer, in this email he claims to have helped a student to build 2 businesses and within the first 24 hours of operation (not counting all the setup work done) the student made more than R600 000. I was, and still am, sceptical. But what the mail, and my subsequent research have done, was to make me think about the process of building a business and the capital used to do it. Is the traditional knowledge really true, do you need massive amounts of risk to really make money.
During the first part of this challenge I have already found that you do not need to have money to make money, in fact, starting out with nothing I have already made more than R130. Yet it has taken a long time, but mostly because I had to spend small amounts of time on my projects. Also this amount is only my part of the challenge money, for as you know Tanya and I have been sharing our profits. So yes you might say that R130 is not a lot of money, but you would agree that making R260 from R130 is possible. You would probably not have believed that one could make R130 from nothing, without one cent invested, and only selling goods, not services or time. So no you definitely do not need money to make money.
Maybe the conventional wisdom that suggests that Dr Dreyer and his student should not be able to show that kind of returns without running a scam, may be mistaken. I will continue investigating. Do not get me wrong, I will not encourage you to invest in businesses that promise you millions up front. You have to do your research, and do it thoroughly. What I am saying is that maybe we should push our businesses for bigger returns, and expect more from ourselves than anybody else ever would.
During the first part of this challenge I have already found that you do not need to have money to make money, in fact, starting out with nothing I have already made more than R130. Yet it has taken a long time, but mostly because I had to spend small amounts of time on my projects. Also this amount is only my part of the challenge money, for as you know Tanya and I have been sharing our profits. So yes you might say that R130 is not a lot of money, but you would agree that making R260 from R130 is possible. You would probably not have believed that one could make R130 from nothing, without one cent invested, and only selling goods, not services or time. So no you definitely do not need money to make money.
Maybe the conventional wisdom that suggests that Dr Dreyer and his student should not be able to show that kind of returns without running a scam, may be mistaken. I will continue investigating. Do not get me wrong, I will not encourage you to invest in businesses that promise you millions up front. You have to do your research, and do it thoroughly. What I am saying is that maybe we should push our businesses for bigger returns, and expect more from ourselves than anybody else ever would.
Thursday, June 4, 2009
Do Anything
This was probably the first and most important lesson I have learned to date.
When you start out with that first 50c piece in your hand, you quickly realize that this is not going to be a comfortable process. You will most probably look a little silly in the process of trying to double your money.
A little bit of magic happens when you reach the point where you are willing to do anything to make that first sale. This is where most people loose the battle, most of us have this pre-programmed set of things we are willing to do to earn money, and everything else is either below us, or does not even enter our minds as a possibility. I'm coming to believe that this is one of the major distinctions between the people that really reach the next level, and the rest.
Another interesting thing I have noticed in my own experience is the fact that I quickly reach a point where I'm not that willing to do anything anymore. Tanya and I are doing well with the fudge business, and we are still in a position where we make a significant amount of money from our fudge sales (relative to our total capital). Already I'm looking for reasons to call it quits and move on to the next thing, any next thing. The lesson I am learning is two fold. Firstly stay with an idea or opportunity while it is effective, just like you need to break through the pain barrier when you start out, you need to persevere. The second part of the lesson is that you should always be on the lookout for new ideas, new opportunities, and only move on once you have something to move on to.
I believe that you need to grow and evolve to reach the next level, but I have also found that you cannot move to the next level before you have sufficiently grown into your current level.
When you start out with that first 50c piece in your hand, you quickly realize that this is not going to be a comfortable process. You will most probably look a little silly in the process of trying to double your money.
A little bit of magic happens when you reach the point where you are willing to do anything to make that first sale. This is where most people loose the battle, most of us have this pre-programmed set of things we are willing to do to earn money, and everything else is either below us, or does not even enter our minds as a possibility. I'm coming to believe that this is one of the major distinctions between the people that really reach the next level, and the rest.
Another interesting thing I have noticed in my own experience is the fact that I quickly reach a point where I'm not that willing to do anything anymore. Tanya and I are doing well with the fudge business, and we are still in a position where we make a significant amount of money from our fudge sales (relative to our total capital). Already I'm looking for reasons to call it quits and move on to the next thing, any next thing. The lesson I am learning is two fold. Firstly stay with an idea or opportunity while it is effective, just like you need to break through the pain barrier when you start out, you need to persevere. The second part of the lesson is that you should always be on the lookout for new ideas, new opportunities, and only move on once you have something to move on to.
I believe that you need to grow and evolve to reach the next level, but I have also found that you cannot move to the next level before you have sufficiently grown into your current level.
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