I have been doing a great deal of thinking lately about how to invest a few meager dollars that a person might want to save every week and become a success. No one has a great deal of cash to save these days. If you put it in the bank you will never lose it like people in the stock market did, but you will never get rich either at the terrible percentage rates that banks pay. Most of my friends got burned very badly in the stock market and banking crisis.
I'm trying to keep things positive so I won't pursue that blind alley. So what is a person supposed to do? Years ago I started my first businesses with no money and you can do it too if you have the patience and the ambition to do it. It also takes will power and we'll get to that in a minute, but first let me tell you what I still do to this very day, but currently on a much larger scale. This is not rocket science. I put my cash into very carefully selected inventory and store it very cheaply until I can resell it. Now lets explain it at a beginners level first and then scale up from there. I'm sorry if this sounds overly simple and stupid, but I have to start somewhere.
Let's say you are at a flea market, or a garage sale and you spot a neat little item for very low dollars and you absolutely know that you if you paid a dollar for it you could sell it for at least five dollars. So let's say you resell it for five dollars plus shipping and handling on Craigslist list, or some other free ad site and the customer pays the shipping. That means you just made a profit of 400% on that item. That sure beats the bank interest by a long shot!
No this is where the will power comes in when you are shoe stringing a new business. You cannot spend all of that profit because you need it to build up your seed money and inventory. So you keep repeating the process and it won't be long before you have several hundred extra dollars.
Always take your profit and reinvest it in more products to sell. You can never make the profits at the bank, or in the stock markets like you can buying and selling inventory. Just think about it. 1% to maybe 10% profit with the bank, or the stock market as opposed to making anywhere from 20% to 500% selling your inventory for cash. I've seen people pick up trash off the curb, fix it up in a couple of hours and make 500% profit on the Internet, or a yard sale, or flea market. You start off small as a sideline and you just keep right on growing. This is just one of hundreds of profitable ideas I have seen that always work. The trick is to work hard and don't waste the seed money. I'll talk about this more in the future.
By the way, junk automotive batteries are bringing over $10.00 each right now. I see them sitting all over the place, even in parking lots. That's easy money. I'm not too proud to pick them up!
You know, all that cash adds up quickly! C A S H !!!
Feel free to contact me at wbarrett1@aol.com
Walt
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