Interesting challenge... to make $500 with seed money of $50

@ahgong (10086)
Singapore
March 15, 2007 10:41pm CST
This an interesting challenge I read somewhere in the web. It got me thinking... many of us have always grumbled about not being able to start a business and many more have wondered how. The challenge was originally from the states and many have tried and shared their ideas to see if it is possible. well, the idea of this challenge is to take a $50 budget, and try to make money from it and end with a profit of $500. Some simple rules: 1) START with EXACTLY and ONLY $50 2) NO additional money may be added unless it is profits earned from the original $50 3) Any resources used at all, other than sweat equity, must come from the $50 4) Document your process, every step, detailing how you spent the money, what you did to finish with the $500 profit and share it with everyone here 5) there is no time limit to achieve the goal of $500. Main goal here is to generate $500 from $50, not necessarily residual passive income (though that would be good) This challenge is to make one think outside the box to make money and could well be the first step to bigger things. Tossing ideas is easy and tossing hypothetical scenarios is much easier said than done. The objective here is to share and document the process of an idea you know is feasible and are willing to take that first step to get it done. Sharing your experience to attaining the $500 goal will prove that it is not that difficult to make money from little or no startup capital. You can do anything you want withing the legal limits, of course, to try and make $500 from a seed of $50. Things you do could well be hosting a website to sell goods/services to getting a street stall to hawk goods... the list is endless and only limited by your imagination. It would be fun and the ideas generated and exchanged here would be a great starting point for all of us
2 people like this
7 responses
• United States
19 Jun 07
Hmm...I can make 1,200 with $0. This is with a pay per referral site, that gives you $80 for each person you bring in (total of 15 per month) and all you have to do is complete a 2 credits in offers (which I did with $0 since I was refunded the original $4 I spent) and have your refs do the same. VoilĂ ! ;)
1 person likes this
@ahgong (10086)
• Singapore
20 Jun 07
really? and how many referrals do you have to get in order to cash out $1200? what program is that? Complete 2 credit offers? what kind of offers? Is it available internationally? Tell me more... tell me more... tell me more!
@ahgong (10086)
• Singapore
18 Oct 07
wow... with only 15 ref you can get that much? I will explore the various links first before messaging you for more details. Thans for the recommend MelodyRhapsodical. So, how long have you been on the program? How much have you made so far?
• United States
20 Oct 07
I stayed at 9 refs and made a total $720. To be honest, I haven't gained much more than that because I haven't been making an effort as of late, so I should really get back on it. Let me know if you have any questions ahgong, I'd be happy to answer! :)
1 person likes this
@applefreak (3133)
• Singapore
12 May 07
this reminds me of the story about the guy with a giant paper clip so he went on ebay and traded the paper clip for something else then this something else for another thing so at the end of the day he actually got a year's stay at this lake-side cabin fascinating isn't it? it's all about using something you have to trade for something that you dun have. then use this something to trade with others who wants it more than you do :) ummm, let me thinkg what i can do with $50 most prob i'll take this $50 and go spotlight to buy some yarn then knit the yarn into mufflers or hats (those you put on your head during winter) and sell them use the profit to buy more yarn, knit more and sell more or i'll use this $50 to take bus to go to interviews for part-time jobs sweat equity not counted right? so work part-time earn the $500 can or not :p
@ahgong (10086)
• Singapore
16 May 07
really? how did he managed to trade that Giant Paper clip? got links to the story? how big is his giant paper clip? Hmm...trading one thing for another till you hit the target is also a good idea. Worth exploring!
• Singapore
16 May 07
actually not very sure of the size think it's about the length of an adult's forearm the story was ran in both local and foreign newspaper amongst the things he traded include a singing contract very interesting article, that's why left a strong impression on me :)
1 person likes this
@ahgong (10086)
• Singapore
19 Jun 07
really? Do you still have the article? It would be an interesting read. I am really interested, it would be good if you can post the article here for all to see. Heh heh... I am reviewing my goals today when I saw this thread again. I have just started on some project which will see me doing some things to make more money out of what I currently have. Currently I have just made enough to come out with this seed money and am exploring avenues for making it into $500. Any good suggestions?
• Philippines
22 Oct 07
What a wonderful and pretty exciting challenge! Although I have already something in my mind, I will try to calculate it if my idea is feasible. I'll just make another post here if my idea will be fruitful. Good luck to me.
1 person likes this
@ahgong (10086)
• Singapore
22 Oct 07
I would be so looking forward to your next update! It is rare for someone to take up this challenge. So far, all my previous ideas did not work. I am working on another idea. I am really hoping this next one will work. Heh heh... ;)
@quanto50 (142)
• Sweden
22 Oct 07
don't get it.. what is this site and do we have to buy sth or give some money? Is it a scam that steals Pay Pal account information?
1 person likes this
@feralwoman (2199)
• Australia
4 Apr 07
I think I could have done this one! Certainly when I started my business, I had nothing. I bought a few odds and ends and started making jewellery to sell at markets. Any money I made went straight into the business to buy better tools, materials and equipment. I've been doing the markets for over a year now and during that year my turnover has been between $5-6 thousand. I have no idea how much of that is profit, as my accounting had to come to an end when I broke my wrist, but I assume there was $500 profit in there somewhere! It's been hard work, but I have a passion for it and totally enjoy what I do. I now am the proud owner of a website with no-sales yet (since 5 months!) - but hey, one day someone might purchase something on-line. I live in hope! lol
1 person likes this
@ahgong (10086)
• Singapore
5 Apr 07
that is good. very good! what got you started on this? Why jewellery? broke your wrist? what happened? are you okay now? Are you trying out any other venture now? Give some details, so we can all learn from your experience *smiles*
• Pakistan
31 Mar 07
Gud it look gr8 fun i am going to try it.
1 person likes this
@ahgong (10086)
• Singapore
1 Apr 07
Great! I will be looking forward to your updates here! Wishing you all the best!
@AmbiePam (44622)
• United States
28 Mar 07
That's a good challenge, and it sounds like a lot of fun. If anyone had an extra fifty dollars, it would be interesting to see who could do it.
1 person likes this