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The easiest way is to simply find a way to make one dollar (anyone can make one lousy dollar), find a way to automate that (hire people, code something, yadda),
by steveitis 17y ago
The easiest way is to simply find a way to make one dollar (anyone can make one lousy dollar), find a way to automate that (hire people, code something, yadda), and repeat a million times (assuming the original process is scalable).
Simple, and effective.
- mattmaroon 17y agoThat sounds far from simple and totally ineffective. Finding a way to make $1 that scales to that extent is non-trivial, in fact it is probably harder than opening a successful restaurant. Hiring people is out unless it could be repeated quickly (they charge an hourly rate that you have to fade) and if that's true, the minute you show someone how to do it they'll cut you out. Unless there is a barrier to entry, which generally means cost, in which case you probably already have a million dollars.
- apgwoz 17y agoMaybe the trick is to get people to make you money without them knowing that they are working for you. What if freerice.com was for profit?
- steveitis 17y agoNone of those steps are actually 'non-trivial'. My statement was meant to be sort of tongue-in-cheek. It's a true statement. It's also a gross over simplification. This method has worked for me in the past, especially on the internet. Outside the internet however it's virtually impossible due to fundamental market restrictions.
- rokhayakebe 17y agoHave you been able to do it? Not necessarily achieving 1M, but at least a 5 figure return over one year.
- steveitis 17y agoSort of. I built the business, but it got litigated away from me. Last valuation of it though was several million dollars. Now I'm starting over, and I'll do it again.
- rokhayakebe 17y agoCan you give a bit more details please. How much did you make per sale? How did you automate it? How was traction etc...?