As I try to double my $100 in 30 days I realize I need to comply with certain unwritten rules in order to make this truly a “doubling of my money” challenge. I initially looked at eBay for ideas and thought writing some informational product might be the way to go, however this doesn’t put my money at some risk Not really a challenge is it?
So,in order to make this a real challenge I have to put my money out there in some form or another. I think the quickest way to double my money is to buy something at wholesale and resell with a market up on eBay. Initially I was against having inventory and,having to ship stuff. I am now taking another look at this. If I can find something that is small (DVDs, Cd’s, Video Games, etc) than I might be able to swing it not matter where I happen to be.
So, I am back to searching for a product I can purchase at wholesale and resell for a profit. Let’s see where this goes.
Regards,
GO #153
2 responses so far ↓
1 Roj // Sep 22, 2005 at 6:59 pm
Serious question: with all of this discussion over doubling $100 in 30 days, perhaps you are losing sight of something fundamental: time is also worth something. So while, yes, buying a bunch of something wholesale and reselling it may let you double your money, the amount of time spent on the process will probably outweigh any benefit of the double.
I know you’re doing this as an exercise but perhaps it makes more sense to simply put that money in a mutual fund and work on projects with bigger returns?
2 Administrator // Sep 22, 2005 at 7:10 pm
Roj, You make a very good point. I agree with you that time is worth money and the money should be in a mutual fund. Believe me I am having a tough time puttting the money out there. However, this exercise is more than just about doubling my money, it’s also about thinking through the process and learning how to find the opportunites.
I consider this a baby step on my way to bigger and more profitable projects.
Dave Ramsey would not be happy right now.
Thanks for your comment, I do appreciate them.
Like my wife and Robert Kiyosaki say ” Don’t work hard for your money, let your money work hard for you”.
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