While watching the TV show Shark Tank on ABC, I heard the short bio of one of the Sharks Barbara Corcoran. I've watched this show probably 100 times but for whatever reason I never paid much attention to her intro until recently. It went something like this: "This big bucks self-starter's credentials include straight D's in high school and college and 20 jobs by the time she'd turned 23. It was Barbara Corcoran's next job that would make her one of the most successful entrepreneurs in the country, when she borrowed $1,000 from her boyfriend and quit her job as a waitress to start a tiny real estate company in New York City. Over the next 25years, she'd parlay that $1,000 loan into a five-billion-dollar real estate business." Wait a minute... Did they just say that she turned $1,000 into a $5B company? Holy Shit! That's seriously impressive. A statement like that deserved and demanded some of my time for deeper thought and consideration, and it started me thinking. Finally I had to ask myself, "What could I realistically do with $1,000 as my initial investment?" Having done the start-up thing in the past, I know firsthand what it takes to build a business from dirt and it's not insignificant.
While I don’t expect to build anything even a fraction of the size of a $5B company, I did start to wonder if I could make meaningful progress towards a decent return and/or a profitable micro business. Soooo as a guy that's always looking for the next challenge, I decided that I would go ahead and conduct a business experiment using $1,000 as my investment capital. AND, win, lose or look stupid, I would share my step by step actions and progress via this Blog as a way to help inspire people to pursue their own success story.
I will be putting my thinking cap on and starting the process of figuring out what the Hell I'm going to do. My plan is to take two weeks to develop a concept and a high level business model and value proposition. Wish me luck. Stay tuned and check back here for updates. If you haven't already subscribed to Jake's Life to receive updates, now would be a good time. :-)