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Entrepreneur

Who Wants To Be A Millionaire – David Shands

podcast December 31, 1969


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#entrepreneurship #smallbusiness #podcast #howto

Who wants to be a millionaire? This is a reasonable question. What would you do with the money if you were a millionaire? It is a practical action to make room for something that you don't have yet. I'd go on to say that one way that you can make room for more money is to know exactly what you'd do with this money that you will have. Then, take it an extra step further and come up with a plan as to how you will generate the money. Reverse engineering is a great way to work this out. Reverse engineering is starting with the end in mind and working backwards. If you give yourself six months to make $500,000 how would you break it down? Well, by knowing that six months is equivalent to 26 weeks. if you divide 500,000 26 times you get about $19,231… so each week you'd have to make this on average to reach you goal. If we break it down further, 19,231 divided by 7 days is 2,747… We can round this up to 3,000 as the price for a product or service or a product that is 1,500 means that you'd have to make 2 sales to make the daily $3,000 goal.. and do this everyday minimum for 6 months. The key is to hit the daily goal, or weekly goal, or monthly goal.

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