What I learned from Penny Millions and Ebook documenting my Journey.

When I started Penny Millions I never thought it would amount to much.  I really had my doubts.  I did not succeed in doubling to a million, I could have but lacked the discipline to not spend the money.  I have started a couple of times and always ended up spending the money.  So was it pointless?

It was not pointless, it changed me as a person and changed my view on making money.  If it were not for Penny Millions I would not have started the business I currently have.  A business is not something that you have to plan for years before you start.  All you need to know is how to sell your service or product, and how much you can produce or procure that product for.  You can figure the rest out as you go.

I never would have tried to start this business with no money, I would have made excuses and procrastinated.  Those excuses are just ways that you sabotage yourself, if you do not believe in yourself, if you do not believe you can succeed, then your chances of succeeding are slim.  You will subconsciously sabotage yourself at every step along the way.  Penny Millions will help with that.  I recommend that everyone try it, whether you succeed with it or not you will learn a lot.

When I say I started this business with no money, I mean just that.  I think I spent 2 dollars on my first purchase.  I started out by picking small items that I can get for a dollar or two.  And now I have just made my first real wholesale purchase.  I am building a relationship with a wholesale supplier and have a couple of more suppliers in the works.  We are now an official business, I hope to be incorporating sometime this year and am working on building trade credit for my business.  My goals are rather lofty, I aim to build a business worth over 1 million dollars in a year.  My business is probably worth around $3000 at the moment, it is tiny, but yet we have somehow managed to survive on its income for the past couple of years.  I have recently decided to seriously work on growing, and we are well on the way.

Many people will see the above and think that this is only a pipe dream, how can someone grow a retail business that fast in this economy.  We are small, and have virtually no overhead.  We can do things the large retailer cannot.  My business model is, research, research, research, find that one product that sells well, find a source where I can purchase it cheaply, buy as many of that item as I can, quickly move enough of them to pay for the inventory, find another product, buy as many as I can rinse and repeat.

Do you honestly believe that you will grow your business that fast?

That is my goal, I am going to do everything in my power to reach it.  But think about it for a moment.  If I aim for a 1 million dollar business, what happens if I fall short?  Say I only grow it to a 30k business in a year.  Have I failed?  Keep in mind all of companies assets at the moment equal about $3000 currently, and I am able to actual live off of the business as it is.  How much better will it be when the company has a worth of 10 times what it does now.  My goal is 1 million+, call me crazy but I believe it is definitely possible.  Is it likely?  No, it will be a lot of hard work, and a lot of sacrifice to reinvest the amounts I will need to reinvest to grow it.

With all of the above being said, I will be starting over from scratch soon.  I will open a new ebay account, I will start picking with found money, I will document every step of the journey.  I will write an e-book that shows exactly how I built my business, it will be a journal / instruction book.  There will be no hype, I will document exactly how anyone can start a business with nothing and grow it to a part time income, or even into a full time business.  I will show step by step how it is done, and will even list each individual item I bought for resale, I will show how to find a decent wholesaler that you can profit with on ebay.  I will also possibly do antique malls or flea markets.  I want it to be a very approachable way for the average joe to take a couple of dollars and turn it into a business.  I will also document the journey on my blog, the e-book will be clearer and easier to read though.  Anyway, exciting times ahead, I am looking forward to the journey.  If I have inspired you feel free to donate via the link below:

My RocketHub Project

I hope you guys have a wonderful day, and I hope I have inspired at least one person to go for it, to quit making excuses and make something happen :).  If I have inspired you, feel free to link to me on your blog, facebook, or any other place you have on the web.  If you link to me let me know, I will visit your site and if it is a good fit I will link back.  I hope to be updating this blog on a regular basis so be sure to check back.