How to make 100k in your spare time.

[Ace in the Hole]

My repeated advice to all the posts relating to any type of limited cash flow/capital situation is always - increase your income.
There's no shortage of money in the world, so why not go out and get it?

I just had a snap decision yesterday that I'm going to start a fitness clothing range to sell predominantly online.
I've got a website name registered, and a logo registered.
Apart from that, I've got nothing, which includes no prior knowledge of clothing products.
So basically I'm starting with no product and no designs, just a vision at this stage.

What I do have is experience of starting a sucessful business from scratch 10 years ago with no prior specific or formal education.
I have someone who can assist me source the raw product.
I also have a recent renewed powerful drive to achieve what's possible, could be that I'm turning 40 later this year.

Anyhow, for anyone interested, I'll probably update this post in real time and show how you can bank 100k of profits in less than 12 months in your spare time.

Stay tuned.

 

[MTR]

Keep us all posted, you have the right template.

Richard Branson here I come Seriously, this is what he did, started with records and the rest is history, airlines, credit cards etc etc. if you have the right formula then the world is your oyster.

Good for you.

 

[j_p]

You're making the call now. Respect already for having the vision.

 

[Gockie]

Excellent!

 

[Michael_X]

Can't wait to watch this thread unfold! I am certain you will succeed

 

[mrdobalina]

Go for it Ace!

 

[evan1875]

Thank you for sharing this.

We should have 'business' sub-forum in SS. So many are doing it.

 

[Ausprop]

Thank you for sharing this.

We should have 'business' sub-forum in SS. So many are doing it.

agreed, we are all here to make a buck

 

[Ace in the Hole]

Thanks for the support guys.
It's 5am on a Sunday morning and I got to put in a strong early effort to get this thing off the ground.
freelancer.com is going to become my new best friend

 

[moyjos]

Cant wait to see your updates. Are you going to (on paper at least) charge this new business rent and other associated costs to show a true pocture of profits?

 

[Richard Feynman]

I reckon you will annihilate your goal! This will be great motivation for a lot of people.

Keep the updates coming.

 

[Ace in the Hole]

Cant wait to see your updates. Are you going to (on paper at least) charge this new business rent and other associated costs to show a true pocture of profits?

I will keep approximate figures for the sake of this exercise, but never been one to analyse and keep a close eye on the figures in the past.

I'm sure gonna try to annihilate it Richard, and my true goal and efforts will be to net a mil, so even if I fail badly, 100k will be a small consolation.

The problem with a start up is that going from a standing start, the first 12 months profits won't really be indicative of what it's really worth at the 1st anniversary, as the momentum will only just be starting.

 

[Teshy]

Ace your posts are inspiring and I look forward to it.

I watched few videos of Grant Cardone #younghustler and they were great. Did you end up buying anything of his products and can you recommend any?

 

[Nem]

Good luck!! Always inspiring and encouraging people to start up their own business!! And I just closed my online shop but for some uncontrollable reasons... currently thinking of new products to source

Keep us updated!!!

 

[Of The Vultures]

That's great Ace, can I ask if you have an end goal for this business eg sell once it reaches a certain size etc, or no particular end in mind at this stage?
Also where does freelancer come into this, what do you use this for?

Cheers and thanks for this thread, will be interesting to follow.

 

[chindonly]

Go for it Ace! Sounds like an awesome challenge - again!

 

[Ace in the Hole]

Teshy, ever since I discovered Grant Cardone, a few weeks ago it's like I've become awakened from a zombie like state. I've never been more inspired and motivated. It's making me get up at crazy hours in the morning, like 2 and 3am sometimes. I bought his books in the physical, audio and electronic version, and stay tuned to his YouTube clips.
Everything about him clicks with me, except that he's into Scientology, but he never mentioned or pushes that with his material.

Don't know what will happen with this after 12 months, it's unkown territory.

 

[The Falcon]

Good stuff Ace

 

[NPB]

agreed, we are all here to make a buck

Would be interesting to see a poll result on how many SS's are either self employed or have a business or two on the side.

Lots of shared learning's could be had i believe.

 

[NPB]

I will keep approximate figures for the sake of this exercise, but never been one to analyse and keep a close eye on the figures in the past.

I'm sure gonna try to annihilate it Richard, and my true goal and efforts will be to net a mil, so even if I fail badly, 100k will be a small consolation.

The problem with a start up is that going from a standing start, the first 12 months profits won't really be indicative of what it's really worth at the 1st anniversary, as the momentum will only just be starting.

Good luck Ace! Will be inspiring to follow your journey.

Personally i am trying a few side ventures not with the aim of cashflow (although that would be nice) but trying to have a big sale in 2-5 years, something game changing $50m + .

If nothing comes off it has really only been time invested and I will have learnt many new things so worth a crack for sure.

Looking forward to your updates.