There’s a better use for your pennies than making a tile floor out of them.. although, this is pretty awesome isn’t it?
Don’t ask me why I remember this…
But it must have happened when I was in high school.
The teacher that day taught my class a valuable lesson about money (I don’t know how I remember since I slacked off and slept through high school classes).
The teacher said to us…
“Given the choice of receiving one million dollars in one month or a penny doubled every day for the month (30 days), what would you decide?”
No doubt I chose the million since I was always looking for easy street.
And then our teacher, proceeded to explain to our class how if you were paid a penny today, but then doubled that payment every day of the penny every day for 30 days, you would have over $5 million dollars by the 30th day.
Check this out…I found this chart online.
Penny Doubling Explained
Day 1: $.01
Day 2: $.02
Day 3: $.04
Day 4: $.08
Day 5: $.16
Day 6: $.32
Day 7: $.64
Day 8: $1.28
Day 9: $2.56
Day 10: $5.12
Day 11: $10.24
Day 12: $20.48
Day 13: $40.96
Day 14: $81.92
Day 15: $163.84
Day 16: $327.68
Day 17: $655.36
Day 18: $1,310.72
Day 19: $2,621.44
Day 20: $5,242.88
Day 21: $10,485.76
Day 22: $20,971.52
Day 23: $41,943.04
Day 24: $83,886.08
Day 25: $167,772.16
Day 26: $335,544.32
Day 27: $671,088.64
Day 28: $1,342,177.28
Day 29: $2,684,354.56
Day 30: $5,368,709.12
What Does This Have To Do With You?
Sure.. sure.. you are wondering, “What does this have to do with my online business?”
Aside from being able to wow your kids or friends children with a good lesson, it helps illustrate 3 important points about growing your website business…
1) New Businesses Start Out Slow And Take Care To Build.
2) You Must Be VERY Patient.
3) SUCCESS Is Assured The Longer You Stick With It.
There Are No Silver Bullets
Firing your “silver bullet” can take years. There is nothing instant about the Internet and Sales. There are success stories like Pinterest and Draw This, but those projects were very clever, had substantial funding, and took awhile to design and implement.
There is no reason you can’t achieve the same success. However, it may take a bit longer (remember our penny story).
Just be patient.
An Internet Marketing guru once told me he knew of a guy who had a print newsletter that costs $50 per year and that has grown to almost 30,000 subscribers in about 20 years.
Would you love to have 30,000 subscribers?
They won’t come overnight… but if you are in it for the long haul, you can achieve this.
Fortunately, these days, you could probably charge a little more than $50 per year – let’s say $10 a month.
Now imagine if you had an email subscriber list… got 1 subscriber this month.. then then doubled that number every month.
In less than 12 months, you would have over 2000 subscribers, and you’d be able to generate $20,000 a month.
That’s a 6-figure dream job.
Of course, no one can guarantee you will double your list each month.. the message here is to take the long view of your business.
It’s really tough in this age of instant gratification, but if you’ve set your website up properly, and you’ve chosen a market that you are passionate about, then you’re in this for the long haul…
You WILL succeed…. don’t be discouraged by a slow start.
There will be struggles, but you will reach a point when your business starts to take off. When you start making multiple sales every day. When you start having affiliates contact you and ask to promote your product.
And then your business will hit that point when it takes off like a rocket.
To Your Success,