The £100 challenge – start a business
Discussion
Following on from another thread and some positive comments about starting this one, I have set up the £100 business challenge thread here. This amount was selected as offering more options/diversity to start up compared to using smaller amounts. The ‘challenge’ is simply to make as much money as you can from £100.
So that we can generate as diverse a type of businesses as possible the rules will be minimal but should:
1. Not involve just gambling the money as this is not in the spirit/is not the intention of this thread
2. Not be part of your normal day job, it should be something new but it can be in the same industry
3. Be something you do on your own, i.e. do not join with others to pool your money
4. Not involve selling something you already own
The challenge is £100 per business/idea therefore if you have 3 ideas you can try all of them as long as you stick to the £100 budget for each one.
That’s about it but if there are any other obvious points to add above from later posters I will add them in here.
In line with posters on here the challenge will start on 1 October 2012 and finish on 31 March 2013.
As this is a fairly informal challenge there is no requirement to have you results verified. If you say that you generated X by doing Y then that's good enough.
So, you’ve got £100. What are you going to do………?
So that we can generate as diverse a type of businesses as possible the rules will be minimal but should:
1. Not involve just gambling the money as this is not in the spirit/is not the intention of this thread
2. Not be part of your normal day job, it should be something new but it can be in the same industry
3. Be something you do on your own, i.e. do not join with others to pool your money
4. Not involve selling something you already own
The challenge is £100 per business/idea therefore if you have 3 ideas you can try all of them as long as you stick to the £100 budget for each one.
That’s about it but if there are any other obvious points to add above from later posters I will add them in here.
In line with posters on here the challenge will start on 1 October 2012 and finish on 31 March 2013.
As this is a fairly informal challenge there is no requirement to have you results verified. If you say that you generated X by doing Y then that's good enough.
So, you’ve got £100. What are you going to do………?
Edited by Frimley111R on Monday 17th September 14:56
Edited by Frimley111R on Monday 17th September 14:57
therealpigdog said:
So my business is not very profitable (and then only just after considering that I’m not going to account for electricity costs of running the tank, my time, or the back-up of having some spare tanks in case anything goes hideously wrong). It’s not really an up-scalable business...
I'd disagree, its not THAT profitable YET but it is very scaleable. Hoofy said:
Frimley111R said:
I'd say that in the spirit of this its something to do on your own with £100.
Wanna update the rules since I think it's your challenge whether you intended this or otherwise. 
Also, what equipment we can use and whether a lawyer setting up an ambulance-chasing internet-based firm is allowed or not.
simoncrowe said:
Are there any rules about doing this multiple times? I have 2 or 3 ideas that would lend themselves very well to this type of thing. Obviously its more work on my part but is it allowed?
I don't see why not, essentially its £100 per idea. The more ideas the better the chances of a successful outcome. I've edited the rules to include this too.Edited by Frimley111R on Thursday 13th September 08:52
FactoryBacked said:
I see there is a now a start date for the challenge, but some people appear to have already started. So far, I have only purchased domains, software and a couple of logos from Fiverr.
There's a lot of work in getting my idea to the stage where it is ready to start accepting customers so would it be against the rules to prepare my idea ready for launch on 1st October?
I don't think so. We're only talking about a few days before a whole 6 month period. There's a lot of work in getting my idea to the stage where it is ready to start accepting customers so would it be against the rules to prepare my idea ready for launch on 1st October?
As the OP, and unless there's particularly good reason not to set these rules, I will add:
You can't sell things you already own
As this is a fairly informal challenge there is no requirement to have you results verified. If you say that you generated X by doing Y then that's good enough.
You can't sell things you already own
As this is a fairly informal challenge there is no requirement to have you results verified. If you say that you generated X by doing Y then that's good enough.
PH lurker said:
I dare you first!Hoofy said:
OlberJ said:
Yeah, that sounds fine to me. The whole purpose is to give people an idea of the bonuses and pitfalls of trying such things, no?
It's gambling... although if you use "investing" or even "value investing" and drop phrases like "Relative Strength Indicator" or "Stochastics" you can sound clever and businessy. You can even shout in an excited manner "Risk on!"But it's up to Frimley.
320touring said:
can I still come in on this?I'll be a week behind due to moving house, but happy to finish at the same end date?
Yes, its just a friendly competition, nothing too serious but you'll need to get a move on, you're 1 day behind already, only 5 months, 30 days left! (ish!)! Pickled said:
I started the £100 challenge last week, bought 5 2nd hand Archos tabs for £18 a piece, and sold on the bay for £60 each, rinse and repeat next week (more units) and have bought a pallet load of xmas wrapping paper for £35 - Delboy route for me i'm afraid
Good work, get Uncle Albert to knock some out at the Seamen's mission too 
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