If you had only ONE CHOICE to make money online, what would you do?

33 replies
Edit: It's a good idea to read posts #'s 24 - 26 before voting or responding... vital updates have been added.

A. Work on a web business that has the POTENTIAL of earning you a guaranteed $1,000,000 in 10 - 15 years (but you would have to wait that long to cash the check.

B. Work on a web business that has the POTENTIAL of earning you a guaranteed $100 a day starting in 7 - 30 days (you can cash your checks asap).

I know these are 2 "extremes" but I have noticed they are the most likely end results for many people who come online, in my own estimation, that is.

Anyway, if you HAD only ONE choice... right now, which would you pick? And why?

Incidentally, the jury's still out over at my crib, I'm leaning toward option A because if I can guarantee in 10 years I will get a big pay day like that, I'll find other ways to be making money offline (or find someone to pay my bills and partner with me while I build the biz to that point, but if there's a potential of failure, then I'm not yet sure... I just might take the plunge, but it would have to be a very calculated risk that if it fails I won't lose sleep over.

What would your choice be and why? Also answer the poll while you're at it.

Feel free to throw in other potential earning and web business options too just to share your own ideas for making money online....

Cheers

Kunle
#choice #make #money #online
  • Profile picture of the author Zulfus
    I'd probably go for the $100/day, I could live a good consistent lifestyle with that. Rather than a one off $1,000,000 payment.

    However, in an ideal world, i'd work on both, with the former strategy first, leading into the second. And hopefully in a much shorter time frame

    Zul Sadiq
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  • Profile picture of the author Aaron Riddell
    Option B.

    This is the reason why.

    A portion of your daily $100 could be re-invested into further advertising (Google Adwords for example) increasing your total income over time, giving you more advertising money and so on.




    Aaron Riddell
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    • Profile picture of the author scrofford
      Originally Posted by Aaron Riddell View Post

      Option B.

      This is the reason why.

      A portion of your daily $100 could be re-invested into further advertising (Google Adwords for example) increasing your total income over time, giving you more advertising money and so on.




      Aaron Riddell
      My exact thinking! I wouldn't want to wait 10 years for that big payout either...I could be dead by then lol.
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  • Profile picture of the author CurtisN
    Option B.

    Anyone who is making a hundred bucks a day right now online would have something wrong with them if they were not able to scale it up to a million bucks within 10 years.

    Maybe they don't care, maybe they aren't able/willing to learn, maybe they're not smart enough, maybe they're too lazy...who knows. All I'm saying is that Option A sucks compared to Option B.

    Curtis
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  • Profile picture of the author senderbot
    $100 a day and I'd be free. Free to do whatever I want and work at home and build up something else. B is definately the way to go.

    Cheers
    Max
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  • Profile picture of the author Shinxware
    It is impossible to make 10-15 years plans on the net.
    It changes too fast.
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  • Profile picture of the author heavyjay
    Option B, definitely.
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  • Profile picture of the author Talltom1
    How about Option C, which would be to look for yet another additional source of income. "eggs all in one basket", "diversification" and all that.

    Speaking from practical experience, it takes a whole lot of energy to get one income stream to provide a solid, steady livable income. Then when something happens, like Google falling out of love with you, your income evaporates overnite.

    For newbies, it's much more achievable and desireable to lift 2-3 moderate income streams off the ground fairly quickly. Combined, they begin to provide a good income.

    Talltom
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    • Profile picture of the author 4freedom
      Originally Posted by Talltom1 View Post

      How about Option C...

      Speaking from practical experience, it takes a whole lot of energy to get one income stream to provide a solid, steady livable income. Then when something happens, like Google falling out of love with you, your income evaporates overnite.

      Talltom
      No truer words have been spoken. 10 years ago we built a hosting/promotion company and ramped it up to multiple six figures in 18 months. Later hacked. Back to ZERO overnight. Then we started promoting via massive Craigslist advertising and got it into the high 5 figures monthly. Then they changed the rules and that income was gone. Same with ebay. So TODAY we focus on building out multiple streams of income and while not any one model is lighting the world on fire - the combination adds up to a nice chunk of change and if any one or two stop working... all is still well.
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  • Profile picture of the author macchiavelli
    A millie in 10 to 15 years is crazy...I need more then that to keep me motivated in this online game.

    I need at least $40 mill a year...thats pocket change to some online marketers/businesses.

    I got high goals for myself.
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    • Profile picture of the author theman2009
      I really think that Talltom1 is the voice that should really be heard cause he is absolutely right. This is the voice of experience:
      "eggs all in one basket"
      . I will just give a small example that happened with me offline. Between the years of 2000 and 2004 i started a company whose business grew up 400% from the first year with just one client. At a point that i had no time to attend other clients besides that. I earned 70 000 euros/ year, medium value. On the end of 2004, because of international financial crisis that client closed up the department that use to send me my work. The result was that on the nex day i simply had no work. It became 0 ( zero ) and i had to start again. I learned maybe the most important lesson of my life till that time, regarding business. Never put all the eggs on the same basket.

      By the way, my company is working ok again.

      I hope to be useful.

      Regards

      Theman2009
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  • Profile picture of the author bobgabon
    100/day is a good income in internet. If you check it out, it is around 3000/month and i can do wonders with it rather than a one payment of 1 mil.
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  • Profile picture of the author Erica Leggette
    I would choose option b in a heartbeat because that's consistent money that can be invested into myself and other things to potentially become way more than a million in 10-15years. $100/day is $365,000 in ten years and $547,500 in 15 years.

    I have a job that will nowhere near pay me that much in 15 years and I can still manage to get a little something in my savings account to draw a little interest and not to forget, I am able to invest in my grind in IM so I would be set with an additional $100/day because I know it will be 4xs as much a day if I spend wisely and invest back into my future.
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    Be easy.


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  • Profile picture of the author Nicky Papers
    Option B. That's always been the #1 way I've made money online. Year after year...
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    • Profile picture of the author gjackson13
      Option B - A bird in the hand is worth 2 in the bush.
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  • Profile picture of the author Aira Bongco
    I'll go with option B. The $100 per day that I will earn can be reinvested and I can make more than $1,000,000 in 10-15 years guaranteed. It is all about duplication.
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    • Profile picture of the author dljmktg1
      100 per day with a part of it invested regularly in an interest bearing account will net you over 1,000,000 in 15 years, maybe even in 10 years.

      Why wait to get it?


      Dan
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  • Profile picture of the author Melodican
    How many option B's can you create... One every 30 days ? hmmm

    Won't take long to make a mil if you do B over and over
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  • Profile picture of the author Troy_Phillips
    Think I will just keep on doing what I am doing now ... but thanks for asking
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  • Profile picture of the author Barry Unruh
    This poll is totally flawed. Think about the premise. Making $100/day starting in 30 days, or $1,000,000 in 10 to 15 years.

    If you can be making $100/day in 30 days, you can be making $200/day in 6 months, $300/day in 1 year, $400/day in 2 years, etc.... You can grow your business by steady work.

    That $1,000,000 is going to look like chump change if you keep building your business for 10 to 15 years. Now, get back to work, and make it happen.
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  • Profile picture of the author DesmondTan
    to eb frank with you i would just go my own way and do what i feel is the right thing to do before seeing what are the results that i will obtain fom doing it.
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    • Profile picture of the author Kunle Olomofe
      Hi Everyone!

      Wow... I was on the road most of today so couldn't respond but it was great to come back often and see more responses.

      Now I'm back at my "desk" and I have some time to respond, so here goes...

      First off, the poll results so far show that 2ce as many warriors would go for Option B though some people posted who didn't vote so those going for Option B probably drowns Option A voters a little more than 2ce.

      Also everyone who posted (from my read-thru, went for Option B) I wonder why those going for Option A are not posting up there own arguments?

      Anyways, it's all very interesting and very eye-opening for me personally.

      Thanks for voting and responding!

      Now, I'd like to respond to everyone who posted...

      Originally Posted by Zulfus View Post

      I'd probably go for the $100/day, I could live a good consistent lifestyle with that. Rather than a one off $1,000,000 payment.

      However, in an ideal world, i'd work on both, with the former strategy first, leading into the second. And hopefully in a much shorter time frame

      Zul Sadiq
      Hi Zul,

      Personally I have the same feeling of BOTH but I prefer Option A...

      And here's why...

      For me, I like to work on projects that have a huge potential of success OR failure (I know, I'm a mad scientist-type.

      The drive is there and I love (and always have loved) a tough challenge and perhaps the risk taking is part of the fun in it for me as well.


      Originally Posted by Aaron Riddell View Post

      Option B.

      This is the reason why.

      A portion of your daily $100 could be re-invested into further advertising (Google Adwords for example) increasing your total income over time, giving you more advertising money and so on.


      Aaron Riddell

      Great answer Aaron... re-investing even from the little you make is a sure-fire way of getting to the top, too. I like that kind of thinking for sure. However read on for WHY I set up this post the way I did...

      Originally Posted by CurtisN View Post

      Option B.

      Anyone who is making a hundred bucks a day right now online would have something wrong with them if they were not able to scale it up to a million bucks within 10 years.

      Maybe they don't care, maybe they aren't able/willing to learn, maybe they're not smart enough, maybe they're too lazy...who knows. All I'm saying is that Option A sucks compared to Option B.

      Curtis
      Thanks Curtis, you make very solid points from the "Maybe they don't care" part of your post and even before that, but I don't agree that Option A SUCKS compared to Option B... man, if you can make money from other means and still get $1M after 10 years that can't possibly SUCK, can it? Or are you saying you wouldn't appreciate that pay day because it took 10 years?

      As for someone not being able to succeed online at either A or B... like I said, you made solid points so no argument there. But sometimes you also have to consider a factor few if anyone mentions in IM circles (not that I have seen anyway)...

      LUCK. PURE OLD FASHIONED GOOD LUCK. This can sadly (when absent) trip up the most hardworking, most eager to learn, smartest business owners in the world... You can't think always that if someone is failing it's only to do with THEM or THEIR ATTITUDE, sometimes they just hit on hard luck... it's happened to the best of men and women, so count yourself LUCKY that you can speak of successes big or small.

      From my experience, not everyone who works hard and/or deserves success, actually gets it. And some the laziest, couldn't-care-less, dumb-ass-stone folks I personally know and know of make it big year in and year out so I'm not sure the attitude or determination is 100% all that is required to turn Options A or B into success stories.

      Originally Posted by senderbot View Post

      $100 a day and I'd be free. Free to do whatever I want and work at home and build up something else. B is definately the way to go.

      Cheers
      Max
      Hey Max,

      I can see clearly what working online means to you... total freedom But would you go for $1M pay day if the check comes sooner than later, say in 6 months with the RISK of it falling through, or you would just PLAY it safe with Option B still? I think I know what you'd say, but love to hear it from you just in case I'm wrong ;-)

      Originally Posted by Shinxware View Post

      It is impossible to make 10-15 years plans on the net.
      It changes too fast.
      Hmm, I see your point, but that view point might be flawed... read on to see what I mean...

      Originally Posted by scrofford View Post

      My exact thinking! I wouldn't want to wait 10 years for that big payout either...I could be dead by then lol.
      Though I see your point, I would say be careful what you "wish" for...

      Originally Posted by heavyjay View Post

      Option B, definitely.
      I like that. Pure and simple... but read on... you might yet change your mind when you "hear" exactly WHAT I was thinking when I set up the poll...

      Originally Posted by Talltom1 View Post

      How about Option C, which would be to look for yet another additional source of income. "eggs all in one basket", "diversification" and all that.

      Speaking from practical experience, it takes a whole lot of energy to get one income stream to provide a solid, steady livable income. Then when something happens, like Google falling out of love with you, your income evaporates overnite.

      For newbies, it's much more achievable and desireable to lift 2-3 moderate income streams off the ground fairly quickly. Combined, they begin to provide a good income.

      Talltom
      Hi Talltom,

      Like I've said... it is wise and truly sensible to not put all your eggs in one basket, but people do do this and get away with it, they are often risk takers who damn everything and get bigger pay days or loss days than the average man or woman... I agree with you based on the poll I set, but what if I twisted things a little just to make it interesting... read on you'll see what I mean...

      Originally Posted by macchiavelli View Post

      A millie in 10 to 15 years is crazy...I need more then that to keep me motivated in this online game.

      I need at least $40 mill a year...thats pocket change to some online marketers/businesses.

      I got high goals for myself.
      Now we're talking! You sitting right smack on top of the reason for my poll and post! I started at $1M in 10 years because for most if not all marketers, it is achievable. But now, imagine if we scaled it up and like you said PUSHED that figure up by 40 and maybe even dropped the yield time by half? What would you say to that?

      Originally Posted by theman2009 View Post

      I really think that Talltom1 is the voice that should really be heard cause he is absolutely right. This is the voice of experience:. I will just give a small example that happened with me offline. Between the years of 2000 and 2004 i started a company whose business grew up 400% from the first year with just one client. At a point that i had no time to attend other clients besides that. I earned 70 000 euros/ year, medium value. On the end of 2004, because of international financial crisis that client closed up the department that use to send me my work. The result was that on the nex day i simply had no work. It became 0 ( zero ) and i had to start again. I learned maybe the most important lesson of my life till that time, regarding business. Never put all the eggs on the same basket.

      By the way, my company is working ok again.

      I hope to be useful.

      Regards

      Theman2009
      Wow, that's a nasty experience for sure. I felt the pain all the way over here But glad to hear you're back on top of things... I agree it is downright dangerous to rely on income from one source or one client... But, many of today's biggest names have done just that...

      My question is... what makes them different to us? Why can THEY take such risks, build such businesses over time and cash in the way they do while 99% of business owners either struggle or settle for average wealth levels?

      Below I explain WHO I mean by "THEY"....

      Originally Posted by bobgabon View Post

      100/day is a good income in internet. If you check it out, it is around 3000/month and i can do wonders with it rather than a one payment of 1 mil.
      Hmm, but have you considered what I have written below...?

      Originally Posted by Erica Leggett View Post

      I would choose option b in a heartbeat because that's consistent money that can be invested into myself and other things to potentially become way more than a million in 10-15years. $100/day is $365,000 in ten years and $547,500 in 15 years.

      I have a job that will nowhere near pay me that much in 15 years and I can still manage to get a little something in my savings account to draw a little interest and not to forget, I am able to invest in my grind in IM so I would be set with an additional $100/day because I know it will be 4xs as much a day if I spend wisely and invest back into my future.
      Again another smart investor... I agree with what you've said... in fact, you're the only person who posted that the payout of $1M in ten years is just 3 times more than the total earnings at $100/day over the same 10 year period, so you thought deep for sure... Your thinking style will come in handy in answering my second question below, I HOPE you respond again, love your thought pattern...:-)

      Originally Posted by Nicky Papers View Post

      Option B. That's always been the #1 way I've made money online. Year after year...
      Ha Nicky, interesting answer, you actually live the dream but what if you could improve on that dream would you? Read my last comments for what I mean...

      Originally Posted by gjackson13 View Post

      Option B - A bird in the hand is worth 2 in the bush.
      Even if the 2 in the bush is worth what I state at the bottom of this post?...

      Originally Posted by 4freedom View Post

      No truer words have been spoken. 10 years ago we built a hosting/promotion company and ramped it up to multiple six figures in 18 months. Later hacked. Back to ZERO overnight. So TODAY we focus on building out multiple streams of income and while not any one model is lighting the world on fire - the combination adds up to a nice chunk of change and if any one or two stop working... all is still well.
      Hi, wow, you've been through the mill I would say... but at least you had the resilience to fight back each time...many people would just give up, so I would say, you have what it takes to actually go for a bigger challenge while still protecting your assets, but IF that challenge meant you would risk ALL but MIGHT win say... (see below WHAT would you do then? Would you go for that "risky" version or would you because of your experiences stick to what you're doing now? I'd love to know...

      Originally Posted by airabongco View Post

      I'll go with option B. The $100 per day that I will earn can be reinvested and I can make more than $1,000,000 in 10-15 years guaranteed. It is all about duplication.
      Again, re-investing small amounts to make big chunks of change pops up. I like what you said about duplication... Would you not rather have $1M in 10 years to duplicate though? I mean you would still HAVE a side income in the meantime so I'm not saying STARVE outright till that big pay day.

      Or you're totally fine with $100 increments over years?

      Originally Posted by dljmktg1 View Post

      100 per day with a part of it invested regularly in an interest bearing account will net you over 1,000,000 in 15 years, maybe even in 10 years.

      Why wait to get it?


      Dan
      Good point... IF you have $100/day GUARANTEED.

      And also, what if you have to WORK YOUR BUTT OFF and some days you make $100 some days you don't... and what if the $1M was virtually guaranteed... ?

      Originally Posted by azu12 View Post

      if i can make $200 a day i will be bigger boy for life and my invest will worth Microsoft.
      Hmm, please expand on that thought..

      Originally Posted by Melodican View Post

      How many option B's can you create... One every 30 days ? hmmm

      Won't take long to make a mil if you do B over and over
      Not as easy as it sounds though for some it is probably really easy... but for the average guy or gal, they would struggle to keep ONE option B going hot like that and that same average person can run a $1M in 10 year pay out concept just as easily... But like I've been saying that wasn't my real target, I just did that as my first what if... read below for the main concept for the poll...

      Originally Posted by Troy_Phillips View Post

      Think I will just keep on doing what I am doing now ... but thanks for asking
      OK. You're welcome ..

      Originally Posted by KansasDragon View Post

      This poll is totally flawed. Think about the premise. Making $100/day starting in 30 days, or $1,000,000 in 10 to 15 years.

      If you can be making $100/day in 30 days, you can be making $200/day in 6 months, $300/day in 1 year, $400/day in 2 years, etc.... You can grow your business by steady work.

      That $1,000,000 is going to look like chump change if you keep building your business for 10 to 15 years. Now, get back to work, and make it happen.
      LOL... thanks for the push... I'm not sure real business works that way all of the time... It's a nice concept and it can definitely work but there are far too many factors to consider to be able to double your income steadily like that, believe I've tried it and it's not as easy as it looks on "paper".

      However aiming for a big pay day while requiring hard work, can be more sure of yielding than "income doubling" efforts can push out, what you have said is NOT impossible and I have advised it myself in the past, however it's not so simple as 1-2-3 and can have disappointment stuck at the end, much worse than if you chased the big mil payout in some cases...

      Originally Posted by DesmondTan View Post

      to eb frank with you i would just go my own way and do what i feel is the right thing to do before seeing what are the results that i will obtain fom doing it.
      I like this answer for some reasons... it's totally sincere and doesn't assume ANYTHING. That to me is a powerful position to put yourself in any business.

      Special thanks for that answer...;-)

      OK so now to my long awaited REASON for the poll...

      The way I look at web marketing, I don't only see it as selling PLR, ebooks, membership sites, scripts, building blogs, and so on...

      I see it from the point of view of the world's wealthiest and biggest web business owners who have NOTHING to do with communities like ours...

      People like in the web rich list generously posted in another thread a few days ago... that is actually what got me really thinking again...

      So, now my question is... even though you have overwhelmingly gone for Option B, start small, earn regularly, build your income, play it safe...

      Would You EVER consider building a business like Facebook, Twitter, Digg, Youtube, maybe not google because that involves patented ideas that not everyone can have.... but what I think is commonest is sites that are just plain community oriented, got high traffic through ads, word of mouth and a great concept... and some have been sold for millions or even billions...

      To my mind, these are reachable by a lot of marketers who are currently STRUGGLING to make $100 a day... THIS was the primary thought in my mind when I posted the poll, but I didn't want to come out saying that outright without knowing where a lot of people were "in the own minds".

      Now that I know, I know for sure (at least I presume for sure) that the 7 people (who so far chose Option A) would go for the Facebook and Twittter kind of web businesses in a heart beat...

      But I am 100% curious to discover IF most or all of the people who chose option B would ever consider web businesses that have NOTHING to do with IM as we know and practice it now, but which companies like Facebook, Amazon and co practice?

      I mean, without all the knowledge we IMers claim is KEY to succeeding with web businesses (that is DIRECT MARKETING web businesses in many cases), these guys have generally done better than 100% of Internet Marketing Warriors I know of...

      What's their secret? Is it that they think different, aim different, aim higher?

      Can't you do the same? Would you even WANT TO?

      This is really something that eats away inside my mind....

      Many cheers all,

      Kunle Olomofe
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  • Profile picture of the author Erica Leggette
    I would definitely get into something like a facebook twitter type of business. Actually, I "think" an idea I have would potentially lead to something in that nature in the future. I'm just trying to figure out how to tie it all together and see what happens down the road.

    I would love to be in the business of people helping and motivating each other, sharing experiences, and what not. Life is an ever changing thing and I think it would be nice to go to a place and receive the same support, same motivation, and the same inspiration no matter what's popping in your life. I want that!
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    Be easy.


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    • Profile picture of the author Kunle Olomofe
      Originally Posted by Erica Leggett View Post

      I would definitely get into something like a facebook twitter type of business. Actually, I "think" an idea I have would potentially lead to something in that nature in the future. I'm just trying to figure out how to tie it all together and see what happens down the road.
      From reading your first post Erica, I knew instantly what your thinking process would yield and I'm thrilled to say I was spot on... Thanks for responding again.

      Here's the thinking that spurred my OP...

      When the "possible" outcome does not justify the risk you can pass on an idea, but IF the outcome has even the slightest hint of gigantic potential like twitter has now clearly manifested... In my estimation, anyone who would pass on such opportunities to play it safe is risking far more without realizing it and would have to be considered a poor business person (in more respects than one).

      I know my OP didn't mention anything like twitter et al, but the general premise was hidden right inside and one responder actually spotted it enough to comment so it WAS there for those who wanted to see it. In fact, from my estimation, I think the about 30% or so of respondents to the OP probably saw it or have what it takes to think in that pattern too, and it is extremely important when you're running ANY kind of a business to be able to THINK EXTREMELY FANTASTICALLY HUGE no matter what the economy or anyone else is saying to you and that includes, experts, friends and family and even your own good old common sense and/or experiences.

      I'm NOT saying go wild and bet the farm -- Please don't I'm simply saying expand your horizons by thinking RIGHT OUTSIDE THE NORM.

      I bet many people never knew this who will read this thread eventually, I myself only discovered it by accident while researching sites like twitter...

      Did you know that the initial IDEA for twitter was actually conceived in 1999?? At the time of posting this, that's almost 11 years ago! Imagine an 11 year old idea "suddenly" taking the web "by storm" and being estimated worth $1Bn (possibly much more by now) even BEFORE it has generated any real cash?

      Jack Dorsey, the guy who in 2006 eventually took the then 7 year old IDEA for twitter over to Biz Stone et al would have to be considered one of the worst business minds ever IF he had simply let that one go because it would take over 10 years to see it yield the way it has now obviously beautifully done. You can read Dorsey's background idea for twitter here: A Conversation With Twitter Co-Founder Jack Dorsey | The Daily Anchor

      Bottom Line...

      What I'm saying is, if you have an idea like twitter brewing, it MAY take 10 years, maybe even 20 or even longer to see the yield (yes I know $1M in 10 years is chicken feed to some so lets up that by 40 or even 400 or even 4000, or better yet 40,000 times) if you have any ideas you think might be worth that kind of money in 10 - 15 years, I would suggest you keep working on it and not give up the dream or hope of it yielding...

      Yes, do what it takes to make a living now... BUT... DON'T put all your future eggs in IM as we know it now... The truth is with all the noise around IM gurus and the like, IM as we know it is like a tiny little speck on the world business map, if that. :confused: It seems like a giant big, impressive world because that's all we focus most of our energy on day in and day out.

      But, if you have even the SLIGHTEST potential, do not throw it all away for the meager success levels (no matter how high they look) of IM as many IMers know of and practice it... Not everyone can build a twitter, but I would bet a handsome amount of cold hard cash that right here in the warrior forum there are at least 1,000 possibly more of such great thinkers, if only they would SHIFT their focus from the success pattern of IM as we practice it, 10 years from now, one of US could be on this rich list too... BBC News - The internet billionaire rich list

      Just saying....

      Many Cheers,

      Kunle Olomofe
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  • Profile picture of the author Jay F
    I voted option B.

    One thing about your last post Kunle, for many people, that 10 years could lead to great fame and fortune, but for most others, it is pain, solitude and lost fortunes. Unfortunately, for the true believer, it is very hard to know on which side you will end up.

    This happened to me, fortunately, it was only 3 years of my life and opportunity lost.
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    • Profile picture of the author Kunle Olomofe
      Originally Posted by Jay F View Post

      I voted option B.

      One thing about your last post Kunle, for many people, that 10 years could lead to great fame and fortune, but for most others, it is pain, solitude and lost fortunes. Unfortunately, for the true believer, it is very hard to know on which side you will end up.

      This happened to me, fortunately, it was only 3 years of my life and opportunity lost.
      Hey Jay,

      Thanks for posting your thoughts.

      I know what you're saying... Majority will probably eat dust who take big risks in business... Or so we have been CONDITIONED to think because the world of business seems to favor the minority.

      But, here's where I believe the real problem is...

      The reason many people will end up eating dust after risking it running any kind of business big or small is because they are not real business people.

      I'll explain...

      I was watching a TV program the other day about business start ups and one of the gurus on the program made some salient points, let me see if I can remember them all...

      1. Never start a business on the premise that your business plan has foreseen and can foretell every possible challenge you will face and how to overcome those challenges. According to him (and I agree 1,000%) no matter how comprehensive your plans are, you will probably still meet a snag somewhere along the way and have to think on your feet or get help from outside your business to weather the storm. This false belief in the all powerful business plan may be one reason that happens. Basically always be ready for any eventuality NO MATTER how good you think you or your plans are.

      2. He said also that anyone who tries to start a business without getting the basics right before doing so is bound to fail. I can tell you from personal experience, he is right about that too. Most people rush into starting or buying businesses. They believe that "if those guys can do it, heck what am I waiting for" and that kind of thinking is powerful but equally flawed.

      It is very dangerous to rush in without having as many of the facts as you possibly can. It also dangerous to sit on the fence gathering facts till hell freezes over. The balance is what you must strive to find as an astute business mind... There will ALWAYS be risk and there will ALWAYS be a chance at failure. But there's another side to that coin... There will also always be a chance at success... I love my fiancee so much for this attitude she has (among other reasons... She never takes no for an answer and refuses to even consider something will fail that she sets out to do as a business owner... even if it can, she will tell you... "Not when I'm running it!"

      I mean, that has got to be the biggest set of brass ones I ever saw

      She will undoubtedly fail in some instances no matter how sure of herself she is, but THAT is not what she is focusing on, she's focusing on SUCCEEDING no matter what else is out there or what the odds are saying. That kind of person can never always fail. It is statistically impossible for that to happen.

      Even if they fail in their lifetime, whoever carries on where they left off just stepped into a path that will eventually lead to success. It is inevitable.

      Take my word for it, or don't. To each his own.

      Many cheers,

      Kunle Olomofe
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  • Profile picture of the author theemperor
    Don't forget: $1,000,000 in 15 years time = probably $400,000 in today's money.

    I assume the OP means "the equivalent of $1M"

    In any case I'd go for B - because A requires you to get a job in the meantime to survive whereas B pays your keep, freeing up your time to make even more money from IM.
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  • Profile picture of the author facebookexpert
    I voted B, as it was the closest to my real intention: option C (always play safe, but don't be afraid to go for broke at the same time).
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  • Profile picture of the author asharam
    I voted B.

    However this poll is kinda weird...

    Do you mean we can't make more than $100? Otherwise as people have stated you could easily make more than 1 mil with $100 a day in 10+ years (scaling up, investing, compound interest...)

    Also if I'm not getting paid for 10 years in IM it means I have to work 9-5 as well to support myself, so option B seems more attractive

    Anyway to compare to real life examples the poll would be more like this:
    80% chance of making $100 a day
    or 10% chance of making 400 mil in 10 years (far from real stats but getting interesting now)
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  • Profile picture of the author senderbot
    Hi,

    In answer to your questions I think I would do a bit of both. First get set up with the $100 a day business so I would then have the freedom to work on whatever comes my way.

    And yes with the offer of a possible $1mil payday in 6 months I'd be prepared to spend some time on that. I'm always looking to see what could be the next big hit. As everyone else probably is.

    But then is it worth going for the next big thing (and possibly failing) when you could go for the next averagely popular and successful thing and still live like a millionaire.
    I could probably live like a millionaire on $300 a day. So $100 a day is 1/3 the way there.

    Cheers
    Max
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  • Profile picture of the author KaseyJones
    its hard to say what you'd do but if your back was against the wall i think most people would either go for broke or crack under the pressure
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  • Profile picture of the author thetrafficaddict
    Cash flow right now is very important. Survival first, and then off to the big leagues.
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  • Profile picture of the author lostdeviant
    Option B of course!

    You can easily live off of $100/day and in most countries live from it and save 1/2 or at least 1/3 (maybe you have a child to care for)
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