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  1. Post
    #1

    Turning $1,000 into $10,000

    A few friends and I were discussing business opportunities which lead down the line of making money quickly from a base investment amount that would be achievable for almost any New Zealander. We specified that amount to be $1,000 and considered that making $1,000 into $10,000 within three months as a part time interest would be a good challenge so each of us are now going to take $1,000 and via any legal business interest and/or gambling if they choose to go that way, we're going to see who ends up with the most money and consider anyone who can make that $10,000 to be successful

    My few ideas were all around import/export or professional service offering although I feel offering a service is cheating because it's not "achievable for almost any New Zealander" to be able to offer a $250 an hour service.

    What ideas would you guys come up with?

  2. Post
    #2
    black 4 times

  3. Post
    #3
    You'd be better off in Sit and Go double ups in Poker to be honest.

  4. Post
    #4
    By all means go for it, but I don't think it's realistic.

    If I did have a way of generating a several thousand percent pa return on such a low sum I would not be sharing. Just sayin.

  5. Post
    #5
    gambling tbh. $1,000 into $10,000 within 3 months via "investing" would be no easy feat

  6. Post
    #6
    - Margin on sale for imported products, as long as you can turnover your inventory and get new inventory rapidly would be an option.

    - Offering a service, again like I said above, is considered an option but I think easy way out considering I could easily charge $250 an hour where as someone else might only be able to charge $50.

    - Using a service like Kickstarter with a gadget design idea and build your margins into your capital goal

    There are ways.

  7. Post
    #7
    Jalepeno wrote:
    - Margin on sale for imported products, as long as you can turnover your inventory and get new inventory rapidly would be an option.

    - Offering a service, again like I said above, is considered an option but I think easy way out considering I could easily charge $250 an hour where as someone else might only be able to charge $50.

    - Using a service like Kickstarter with a gadget design idea and build your margins into your capital goal

    There are ways.
    Turning a $9,000 profit in a month on any of those ideas would be near impossible with the expenses factored in. Generally with Kickstarter and other crowdsourcing options people expect something in return for their investment, not to mention that the projects that have pulled big numbers are generally by already established personalities/groups. Even if you pulled decent pledge numbers you would still have to go through with the project, which is a lot more time and effort.

  8. Post
    #8
    Three months.

    Also - starting a business is acceptable, therefore making a Kickstarter project would be acceptable. The only real challenge we all have is that each of us have full time roles and in my case, I'm working 50+ hours a week (to make up for the 10 hours I waste writing to you folk)

  9. Post
    #9
    Jalepeno wrote:
    Three months.

    Also - starting a business is acceptable, therefore making a Kickstarter project would be acceptable. The only real challenge we all have is that each of us have full time roles and in my case, I'm working 50+ hours a week (to make up for the 10 hours I waste writing to you folk)
    Ah, right. Three months is a little more reasonable however you have to factor in the time it takes for business to actually kick in if you start some form of distribution outlet/service offering. It's not a day one big money type deal unless you have an established reputation/contacts.

  10. Post
    #10
    Celticknife wrote:
    Ah, right. Three months is a little more reasonable however you have to factor in the time it takes for business to actually kick in if you start some form of distribution outlet/service offering. It's not a day one big money type deal unless you have an established reputation/contacts.
    I could easily do it by utilising my existing reputation but to me that defeats the purpose of trying to think of a way that potentially anyone with $1,000 could do it, remembering that they're not just giving $1,000. They're giving $1,000 + time.

  11. Post
    #11
    Short dated out of the money options on some spec ASX explorer could pull a 10 bagger, has many times in the past... More likely to lose your money however, hence why they trade for practically nothing.

  12. Post
    #12
    WillAY wrote:
    By all means go for it, but I don't think it's realistic.

    If I did have a way of generating a several thousand percent pa return on such a low sum I would not be sharing. Just sayin.
    Even doubling the money would be a neat trick.

  13. Post
    #13
    this is a stupid thread.


    You can only make that much if you're lucky, and typically you only get lucky when you gamble.

    What's the point of this thread?

    Stop wasting time and try to figure out a way you can get a realistic return of like 15-20% over the LONG RUN, instead of 1000%+ in a month lawl

  14. Post
    #14
    its okay guys he can charge $250p/h

  15. Post
    #15
    Jalapeno! Lol.

    Clearly you have never imported/exported.

    You have 0 chance of success on import/export unless you could pre-sell all the product before paying for it with the supplier.

    Why?

    - You don't have $1000 NZD to spend on product because...

    - Port Charges on Import - $240, customs fees, inspection fees, document fees etc for commercial import
    - Seafreight Hong Kong - 3 weeks - $200 minimum + the above charges
    - GST + Duty (Pretend you're luck and the item doesn't have duty) Payable on Import - Max of $84 given the above spending you need to do to get it in.
    - $476 NZD to spend without any spend on marketing or other setup costs
    - Fail - Nobody in China will sell you $380USD worth of something that you could make great markup on with fast sell through.


    Additionally, this sounds like another self-validation post which seems to be the GP norm at the moment - you've already got your $1000 to $10k genius plan "I could easily do it by utilising my existing reputation" so why don't you tell us all about it as you're dying to prove us wrong.

    Edit: The other thing is, most sustainable retail margins on sale in NZ are around 50% (eg clothing etc, must less on other industries); this would be before your costs - eg shipping to customer, costs of sales (transaction fees etc) and not including shipping to get it to you.

    So you'd make max:
    $1000 -> $1500
    $1500 -> $2250
    $2200 -> $3375
    $3375 -> $5062
    $5062 -> $7600
    $7600 -> $11400 = success as you have gained 10k + your initial $1000 back. This is in 6 weeks. So you need to have instant stock replenishment, and zero costs, as well as finding a banging product to make sure people are buying from you all the time.

    TLDR: Casino.

  16. Post
    #16
    buy ounces, sell tinnies

  17. Post
    #17
    Go buy super speculative stocks on the ASX, you can turn 1000% easily if you get lucky lolll

  18. Post
    #18
    NikolaiM wrote:
    Jalapeno! Lol.

    Clearly you have never imported/exported.

    You have 0 chance of success on import/export unless you could pre-sell all the product before paying for it with the supplier.

    Why?

    - You don't have $1000 NZD to spend on product because...

    - Port Charges on Import - $240, customs fees, inspection fees, document fees etc for commercial import
    - Seafreight Hong Kong - 3 weeks - $200 minimum + the above charges
    - GST + Duty (Pretend you're luck and the item doesn't have duty) Payable on Import - Max of $84 given the above spending you need to do to get it in.
    - $476 NZD to spend without any spend on marketing or other setup costs
    - Fail - Nobody in China will sell you $380USD worth of something that you could make great markup on with fast sell through.


    Additionally, this sounds like another self-validation post which seems to be the GP norm at the moment - you've already got your $1000 to $10k genius plan "I could easily do it by utilising my existing reputation" so why don't you tell us all about it as you're dying to prove us wrong.

    Edit: The other thing is, most sustainable retail margins on sale in NZ are around 50% (eg clothing etc, must less on other industries); this would be before your costs - eg shipping to customer, costs of sales (transaction fees etc) and not including shipping to get it to you.

    So you'd make max:
    $1000 -> $1500
    $1500 -> $2250
    $2200 -> $3375
    $3375 -> $5062
    $5062 -> $7600
    $7600 -> $11400 = success as you have gained 10k + your initial $1000 back. This is in 6 weeks. So you need to have instant stock replenishment, and zero costs, as well as finding a banging product to make sure people are buying from you all the time.

    TLDR: Casino.

    Boss post... yes this has just turned out to be a thread where Jalepeno tells everyone how clever is... That's really interesting stuff on shipping, cheers, you'd think 'Serious Business' forums would have more stuff like this that actually has a basis in reality...

  19. Post
    #19
    People missing point of thread due to their butt hurt that I earn more than they do is always interesting.

    I was at the HKTDC expo last year and made several contacts, all of whom were entertaining orders of $1k and they'd handle the drop shipping to customer under the context of gift. Sure this isn't sustainable in the long run but we're not talking long term business prospects, like I said - this needs to be something anyone can do.

    I work as a consultant in business process architecture and enterprise information management sectors, I make over $10k a month after tax. You're missing the point, this is more about what business ideas can someone who has time + $1k come up with to make themselves money.

    As for stock speculation - far easier to go to estate auctions, buy up art work and sell via gallery and make money doing it. I've seen people turn $500 into $5,000 within three days doing exactly this, one person got limited edition Dick Frizzell prints for a bargain, went and sold them to a gallery the day after and made more than double money - but again, that's not sustainable.

  20. Post
    #20
    NikolaiM wrote:
    Additionally, this sounds like another self-validation post which seems to be the GP norm at the moment - you've already got your $1000 to $10k genius plan "I could easily do it by utilising my existing reputation" so why don't you tell us all about it as you're dying to prove us wrong.
    .

  21. Post
    #21
    Posting in a dick-waving thread.

  22. Post
    #22
    Jalepeno wrote:
    You're missing the point, this is more about what business ideas can someone who has time + $1k come up with to make themselves money.
    They don't exist. Sure one person may turn 1k into 10k with an idea, but you stated you were looking at ideas that anyone with 1k + time could utilise. Unfortunately if it was that easy, everyone would do it and within a week your edge would be diminished and we would be right back at square one. Money just doesn't grow on trees. It's hard enough to double your money let or lone 10 fold + increase unless you are straight out gambling.

    Easiest and quickest way IMO is stripping/whoring your self out. Thats something anyone CAN (whether they WANT to or not is a different story) do and your edge won't diminish as quickly as import/export ideas.

  23. Post
    #23
    Jumboots wrote:
    buy ounces, sell tinnies
    This, only real way to make that kinda return that quickly.

  24. Post
    #24
    this thread got hostile quickly

  25. Post
    #25
    Jalepeno wrote:
    People missing point of thread due to their butt hurt that I earn more than they do is always interesting.
    The only person in this thread that has mentioned the fact the you earn more than everyone else is you.

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