We have all dreamed of it, we have all spoken about winning it but how many have actually worked towards that magical million ? We go to work each day to earn our salaries but how many of us actually think we can earn a million in a relatively short period of time ? Well, that Million might not be that far away.
In a lifetime someone earning on average £25,000 a year would take 40 years to earn a £million but the expenses you have over the period of a lifetime would eat away at most of that. Work to earn that in 1 to 3 years and your living expenses over this shorter period are a small fraction of this total, making a comfortable retirement a lot easier and closer to hand. The following idea is so simple, it seems too simple but when you break it down you can actually see the logic and can then start building your ideas up to make it work. We have probably all seen the show "who wants to be a millionaire" where you start with £100 (or $100). You then answer a question correctly to double your money to £200 then £400, £800 (or often rounded up to £1,000), £2000 etc and so on to that magical Million. Now, instead of answering a question you have the challenge of doubling your money by using your ingenuity and imagination. How do you do this ? well that is half the fun of this plan. Basically you are looking to buy products in bulk, split them up and sell them individually for a total of more than you originally paid. At this first level ( £100 ) selling products on Ebay and at Boot fairs jump out as ideal avenues for your first steps. Just for an example; if you buy a few boxes of comics off of Ebay for £100, often sold in bulk in boxes of 100 or 200, which works out on average of 20p each so for this examples sake you get 400 for £100. You then split them up into smaller sets, perhaps packs of 10 comics each of the same superhero and sell each pack for £5 at a boot fair or on Ebay. That’s 50p each or £200 for the lot. You could do this on collectable bears, fast food restaurant toys etc basically you buy in bulk, split up and sell individually for more than the bulk price. You could do this a number of times over which should get you to the £1,000 level then you need to move up a gear to more expensive products. When you get to the £20,000 mark you can start looking into bigger investments such as Property, this however is a whole subject in itself. You should see by now that with some imagination and ingenuity you have the power to make that million! Resource Box: The Author - R Guyver - is a self taught internet businessman. There are a number of comprehensive guides on how to make money on the internet – you can see a very good review of a selection of these at http://www.make-money-2006.com |
