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Ask HN: Making 500K euros in 6 months; myth or plausible?
- guywithahat 2y agoWhile it's technically possible, I wouldn't bet on it. Lots of people have launched startups that were a sure thing just to have them fail with no users. If you need money I would get a job. Edit: if you need some demotivational material, you can check out https://www.failsights.com https://www.failsights.com. A guy I know in the UK does it, and he covers startups that fail, often costing the founder significant amounts of money
- stefanos82 2y agoThe reason I have asked this question is because more than often various articles, videos, and podcasts share some incredible yet so unbelievable to me examples that someone managed to find their "sweet spot" such we say, their niche if you like, and have managed to make profit before the end of the year. I have found it quite amusing and mind blown at the same time, it's quite difficult to understand how some people do such thing.
- mtmail 2y agoI assume it's marketing to join their secret club (Telegram group, Dicord channel, course) where you first have to buy something. "I made $500k by selling 5000 people the idea of making $500k for $100 each".
- stefanos82 2y agoUgh...I forgot about that madness people do with WordPress themes and plugins and nowadays with ebooks! -_-
- guywithahat 2y agoI mean you can absolutely make a million a year with a successful small business. Every large town has a concrete company, and most of those owners are millionaires. It is just exceptionally hard to do, and it takes decades to get there.
- stefanos82 2y agoI guess it depends on the opportunities you can get from your surroundings, especially in one's local market; that I agree!
- JojoFatsani 2y agoIf it was easy, everyone would do it
- stefanos82 2y agoFor sure, you have a valid point.
- 082349872349872 2y agoCompletely plausible: invest 17M EUR in dutch or belgian 6 month bonds
- stefanos82 2y agoThose who understand stocks, then yes, it can make it work IF he/she remains disciplined and not lose financial control and go broke.
- 082349872349872 2y agoAlso, I messed up: quoted yields are annualised, so for a 6 mo maturity you'll want to have 34M lying around with which to buy those gov't obligations.
- user90131313 2y agoNo joke, I'm aiming for at least 5 million in next 8-9 months, AMA :) I'm serious
- stefanos82 2y ago...and how are you supposed to make those millions?
- user90131313 2y agoWith work + trading. I did similar amount and lost big too. It's not certain or anything, if markets crash big it's hard to manage that. But I'm optimistic
- stefanos82 2y agoGood luck with your investments.
- user90131313 2y agoThanks, yes I need luck too
- sn9 2y agoIn a six month period some time in the future? Plausible. In the next six months? Unlikely enough to be a myth.
- sfmz 2y agoIts happening with AI wrappers (eg. AI headshot) and smart-contracts; but it will ~probably~ take more than 6-months to familiarize yourself with the space and market; if you had the domain knowledge, you could succeed insofar as there is not much code to write.
- GianFabien 2y agoDepends on how big the initial investment is. If you start with 1000 euros - unlikely. If you start with 5,000,000 euros - plausible. Large scale marketing costs heaps and returns only a tiny percentage of paying customers.