Step 1: Complete!

First of all, sorry for not updating this site for so long. I am aiming to add posts more frequently from now on.

The Ladybird books auctioned on eBay sold for £8.50 (plus £2.75 postage). In total I received £11.25. Having deducted eBay listing fees (£0.05), eBay final value fees (£0.76) and the actual cost of postage (£2.51), I am left with £7.93. Not a bad return!

As I have more than doubled my original £1 stake, I am uncertain how I'm going to progress. Should I move to Step 2 on my original list (£2 to £4) and spend the extra £5.93 I made in the previous step, or should I move straight to Step 3, and try to make the 7p needed to move to Step 4?

I suppose a third option would be to simply try to double the amount made in the previous step. In my case, my next challenge would be to go from £7.93 to £15.86.

Not sure which route I'm going to go for yet. Will let you know when I've decided.

Step 1: Ladybird Books Listed on eBay

The Make A Million Project has is officialy underway.

The Ladybird Books that I bought with the £1 coin (found on the path outside by house) have been listed on eBay. I've decided to auction them with a starting price of 99p.

Check out the Ladybird Book eBay auction.

Step 1: Ladybird Books

I have been looking out for a sure-fire way of turning my £1 into £2. I really want to get the Make a Million Project off to a good start, and I think I've found just the thing.

Some of the childrens' books in my local Samaritans bookshop were on sale. I noticed these Ladybird books (pictured below), and managed to buy all 5 for £1.00.



I've had quite a bit of experience of selling books online, and I'm fairly sure that I'll see a good return on my £1.00 investment.

I'm intending to sell the books on eBay, and I'll post a link to the auction once I've listed it.

Make a Million Project: The Beginning

Yesterday I found a £1 coin on the road outside my house. I picked up the coin and put it in my pocket without giving it much thought. However, later that day I started to read Reflections from a Bookshop Window. In the first chapter the author, Clive Linklater, wrote something that made me think about the coin in a different way.

On page three he said:
This year I have a plan. The theory is simple. Take an initial outlay of £2.50, by a book with it, and sell it for £5.00. Buy a book with the £5.00 and sell it for £10.00. Buy a book with the £10.00 and sell it for £20.00. Each time the book is sold, take the proceeds and invest it in another book.

Clive Linklater aimed to continue this experiment for one year, doubling the value of his stock each month. By the end of the month he was hoping to have made £10,240.

I pulled the coin from my jeans and held it in my hand.



A question popped into my head. How many times would I have to double my money in order to turn this £1 coin into £1,000,000? I did the sums:

Step 1: £1 to £2
Step 2: £2 to £4
Step 3: £4 to £8
Step 4: £8 to £16
Step 5: £16 to £32
Step 6: £32 to £64
Step 7: £64 to £128
Step 8: £128 to £256
Step 9: £256 to £512
Step 10: £512 to £1024
Step 11: £1024 to £2048
Step 12: £2048 to £4096
Step 13: £4096 to £8192
Step 14: £8192 to £16384
Step 15: £16384 to £32768
Step 16: £32768 to £65536
Step 17: £65536 to £131072
Step 18: £131072 to £262144
Step 19: £262144 to £524288
Step 20: £524288 to £1048576

20 steps. That's all it would take to go from £1 to one million pounds. From this point on I was hooked.

This blog will chart my attempt to turn the £1 pound coin that I found on the road outside my house, into £1,000,000 by doubling my money at each step