Day 7 – The Businesses

Brainstorming over the last week has made me realise how challenging this challenge will be! If the goal was to attempt to get near $1m then I would need at least 1-4 great ideas generating a few thousand dollars per week. Definitely easier said than done. Just to re-iterate these businesses cannot be in my main industry of property. Each business idea will require extensive time and work. The eventual goal is still whether enough can be generated from these ideas to re-invest into the Australian property market. My goal is to prove it is possible!

Your Friend,
Captain Wealth

Day 6 – The Blog

I will write this blog on most weekdays (Monday-Friday) throughout the year detailing my experiences and outcomes. I’m mainly undertaking this journey as a personal challenge. If you’re like me, you may have some ideas about how you can make things better in a product or a service. The most frustrating aspect is taking the idea to the next step…oh look at that bird outside!…and getting sidetracked along the way. The purpose of this blog is to make sure I stay on track, which I believe will be helped by documenting my experiences along the way.

Your Friend,
Captain Wealth

Day 4 – The Challenge

A weekly account will be provided detailing the journey. We obviously want to see a growing income account! This will include a basic overview of revenue and expenses. Personal living expenses will not be included in this challenge. All expenses will relate to the setup and running of the businesses. Revenue will hopefully start sooner rather than later! The likelihood though is possibly within a month to two (let’s hope)…though I’m quickly realising hope isn’t going to make this far flung goal come true. It’s action…and lots of it…kapow…chop…similar to a fast paced Jason Statham movie, where he has a set time to beat the baddies. As obvious as this sounds, it seems action is the key driving force behind results. The more action, the more results.

Your Friend,
Captain Wealth

Day 2 – The Rules

Money earned from my primary industry (which is property) doesn’t count. Kinda odd choice! It’s like taking LeBron James and saying mate, it’s time for you to become a pro Equestrian rider (he’ll probably squash the horse)…Though, don’t you ever feel you can do more than you are currently doing? I’m probably like you, who may have a fantastic idea, but fear stops you from going ahead with it. “The only thing to fear, is fear itself” (cliched quote, nice one). But isn’t it true? What happens if there was no such thing as failure? What happens if success was the only way? Which leads to the second part of the goal and challenge. I must generate income from my small investment in various business ideas I create, unrelated to property. The point is to determine whether great ideas (hopefully at least remotely great) and desire, trump experience, connections and general industry know how. Isn’t it about who you know?

Your Friend,
Captain Wealth

Day 1 – The Goal

Over the next 366 days (leap year) in 2016, I plan to determine whether it is possible to turn a small investment into a large sum in Australia (I am a Sydney sider). Can $2,000 be turned into $100,000+ or even $1,000,000? Yes, I know you are thinking these figures are crude and highly improbable. The old rags to riches tale. I will not argue with you there. I hypothesise an unrealistic sum such as this will force innovation and strive the adventurer to achieve past previous limitations. Possibly? Over the medium to long-term, the goal is to re-invest income earned through business into the Australian property market. Whether this experiment works out or not, hopefully we will have something to learn through the journey from a business and personal perspective.

Stay tuned…

Your Friend,
Captain Wealth