Can you ask to be a millionaire?

one million.PNG

The other day I thought what would happen if someone decides to ask for one dollar with the goal of getting to $1,000,000 dollars? could it be done?

When you think about asking 1000 people for a dollar your mind can easily comprehend that its allot of people to ask. Meaning if you were to spend lets say 2.5 minutes asking “Hello my name is ______ and I am trying to collect a dollar until I get to a million because I am just trying to prove it can be done” it would take you about 4 days asking for at least 11 hours per day and you would get to $1000.  Sounds like allot of work.

Effectively if you were to translate the above in to an hourly rate it would come to be $24 dollar per hour which is double the minimum wage.

What about asking 1,000,000 people? this is were your brain (at least mine) tends to disconnect the amount of effort that would be compared to the 1000 people. If I assume you take the same 2.5 minutes to ask for a dollar you would need to do this for 10 years non stop every day for at least 11 hours a day. Yikes that is allot of asking, not to mention were would you find all the people to ask, you would have to find some kind of large event to take advantage of the high number of people in close proximity.

What is interesting and I know this is pretty intuitive is that if you can just reduce your asking time to 1 minute ($60 dollars per hour) you would reach $1000 in half the time about 2 days and a million in about 4 years, which is less than half the of the original 10 years.

This is just meant as an observation of how a company could get to one million by “asking” customers for a dollar. Lets imagine you provide a service and for that service you can make $1 dollar per customer per day you would need about 21,000 subscribers to be faithful to your service for 4 years in order to meet the same goal.

Which of these would be more difficult asking for a dollar to a million people or maintaining 21,000 customers happy and faithful to your cause.

Share your thoughts

 

 

 

 

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.