Win the Jackpot!
The current powerball jackpot is above 1 Billion Dollars.
My Facebook feed is full of people building air castles about what they would do with the winnings.
I am sure much of the thrill of winning the lottery is fueled by the idea of not needing to work for someone else, or providing for their families.
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| Tesla Grand Opening in Menlo Park - Tesla Chairman, Elon Musk. (CC) Brian Solis, http://www.briansolis.com and http://bub.blicio.us. Feel free to use this picture. Please credit as shown. (Photo credit: Wikipedia) |
But it occurs to me there is another way to do this.
Becoming an Entrepreneur may not be the path to a life of luxury, after all there are only a few people like Richard Branson, or Elon Musk.
But if everyone that spent so much time and effort on working out their dreams for what they would do after they win the lottery would give a go of starting a business, this country would be quite a different place.
Imagine some numbers with me.
There is currently a population of about 320 Million people in the United states.
If only 25% of them worked this year to start a business, write a book, create a product, perform a service, or get paid to rake a yard there would be 80 Million people trying to get new customers or develop a new product.
The product doesn't have to be all that complicated, sophisticated or even novel. Just do something other people need and would be willing to spend money on.
If only 10% of them actually create something and get paid for it, there are now 8 million new Entrepreneurs.
Over time, any business is either bought out, or loses customers. So of these if only 10% last for 1 year, there are now 800,000 entrepreneurs still going at it.
Keeping things going for more than a year is quite difficult so lets say the success rate drops to 1%.
That leaves us with 8000 ongoing entrepreneurs at around 18 months from now.
The odds of winning the Powerball are 1 in 292 million
The odds of being a successful entrepreneur described above are 1 in 40,000.
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| English: Hundred Dollar Bill (Photo credit: Wikipedia) |
Which odds are better for you to win the jackpot?
What are you waiting for?
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