31 Step Success Building Starting with a PENNY
...

DAY # 554: Lottery Winner Troubles

UPDATE:
Friday, 19-Jan-2007 10:39 AM

Yesterday I wrote almost all details of the P31 Venture Capital Contest (PVCC) that I put together. The idea was to use a series of STEPS that I build, in this case 21 to 31 to fund 11 Entrepreneurial ventures.

One of the decisions that I made was to seek an equity stake in the companies that were awarded the money. Originally I was going to just "give away" the funds to the best business plans. However, sometimes the best of intentions go very, very wrong and one has to be careful what is envisioned and executed.


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Another dream...

Another dream


Legal Note: I am not a Financial Advisor, Lawyer or Accountant. If you are going to do this on your own seek professional help when you need it. Through this site, my BLOG, I am simply sharing my thoughts, goals, and showing what I am doing. Collectively "INFORMATION" that you can read to follow along. Otherwise, go here...

-- My TEST BLOG --

Perhaps, a good lesson in all of this is the life of Poor Jack Whittaker (lottery winner) from West Virginia (USA). He was a very successful businessman when one day he won what at the time was the world's largest lottery prize: $350 million (or a lump sum of $115 million after taxes we paid).

After that he became very generous and lost his focus only to lose everything by the end of last year. There is some information here, at WIKIPEDIA. >> I think he had some good intentions, but those went *way out of hand* and a once-hard-working man lost the very ideals that led him there. There's a good story by a Washington Post staff writer on what happened. But the deal is that Jack is now broke. In less than 5 years $115 million vanished. I suppose this is only second to Mike Tyson's loss of $300 million.

Anyway, I started talking about the issue as I don't want to "give away" anything and attract the wrong Entrepreneurs. My goal is to find ways to not only obtain a stake in any venture that is awarded funds, and to even further help such an organization to build more capital. Perhaps, eventually to go public.

Ok, need to get some things done before lunch. I've got to wrap up a lot here and will use part of the weekend's work time to post the contest up on this site.

Back to work. Hope you have a good weekend. Carpe Diem. Sam.

UPDATE: 2008-09-08 04:26:21:UTC+00:00
------------Business Success Wisdom for the Day:

Text file with business success tips at p31.com Always bear in mind that your own resolution to succeed is more important than any other one thing. - Abraham Lincoln

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Below are links to my thoughts, comments, actions, results and a BLOG as I take ONE PENNY (USD$0.01) and double it thirty one times utilizing a 31-STEP Success Plan™ in an effort to build the PENNY to USD $10,737,418.24:

STEP 01: $0.01
STEP 02: $0.02
STEP 03: $0.04
STEP 04: $0.08
STEP 05: $0.16
STEP 06: $0.32
STEP 07: $0.64
STEP 08: $1.28
STEP 09: $2.56
STEP 10: $5.12
STEP 11: $10.24
STEP 12: $20.48
STEP 13: $40.96
STEP 14: $81.92
STEP 15: $163.84
STEP 16: $327.68
STEP 17: $655.36
STEP 18: $1,310.72
STEP 19: $2,621.44
STEP 20: $5,242.88
STEP 21: $10,485.76
STEP 22: $20,971.52
STEP 23: $41,943.04
STEP 24: $83,886.08
STEP 25: $167,772.16
STEP 26: $335,544.32
STEP 27: $671,088.64
STEP 28: $1,342,177.28
STEP 29: $2,684,354.56
STEP 30: $5,368,709.12
STEP 31: $10,737,418.24

 

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