Sunday, 17 January 2010

The Challenge

I - like a lot of other people out there - want to make a million. I have no idea how I'm going to do it but I thought I would make a game out of it and blog my efforts to the world on the small off-chance that I pull it off. After sifting through a number of pyramid type schemes and get rich quick systems, I came across the Double Your Way To A Million report by Stuart Goldsmith. Here is an example link:

Doubling Your Way To A Million

Although it does not tell you how to make a million, it is a system that makes this goal seem achievable - the idea being to find 1 cent and then attempt to double it 28 times. This in turn has inspired a number of like-minded optimists to take on the challenge and create blogs documenting their trials and tribulations. Here are a couple that inspired me to get started, they are well worth a look:

Doubling To A Million Plan
Doublng Challenge

Now the above bloggers have decided to stick to the rules of the original report - I, however, am only interested in making a million and I care not by which method I use. But perhaps the point about setting targets will be useful so I am setting out the following steps to aim for:

Step 1: £125 to £250 - 1 week
Step 2: £250 to £500 - 10 days
Step 3: £500 to £1000 - 2 weeks
Step 4: £1000 to £2000 - 3 weeks
Step 5: £2000 to £4000 - 1 month
Step 6: £4000 to £8000 - 2 months
Step 7: £8000 to £16000 - 3 months
Step 8: £16000 to £32000 - 4 months
Step 9: £32000 to £64000 - 5 months
Step 10: £64000 to £125000 - 6 months
Step 11: £125000 to £250000 - 8 months
Step 12: £250k to £500k - 10 months
Step 13: £500k to 1 million! - 1 year

As you can see, i am giving myself a longer timescale to complete each step as the difficulty will increase. I am also starting on £125 rather than with absolutely nothing to save a lot of time and cut down the steps.

Well, I have no idea how successful this will be but I think a challenge is a good motivator so lets see what happens. And if you come accross this blog and want to share your own experiences or give advice then please feel free!

Let the challenge begin!

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