Honest question for the entrepreneurial (merely for personal use!) What would you do if you won the lottery, but:
- With $1 million
- With $2 million
- With $5 million
- With $10 million
- With $20 million
What would you purchase, invest in, create (eg. businesses, etc.) etc.?
What would be your financial goal, how much is “enough?”
Where would be your base, would you move; why?
What if you were a good person, ethical, not predatory or selfish, and wanted to do good?
What if you were religious, and wanted to give back, or start an initiative?
What if you were a woman, would it have any bearing on what you would/could do, or its ease?
How would you put this windfall to its best use, for both you and others, to maximize it, in perpetuity?
You don’t have to answer all the questions, it’s moreso testing business savvy, financial literacy, trends, and a balanced life; and generating interesting discussions.
Thank you for your contributions. 🙏🏻
ok I’ll give it a go.
Assuming the money is in my business account and not private.
company: 25 mil revenue
ebitda 1.5 mil
reserves: ~ 1-1.5 mil
1 mill. Use it as a buffer for long term. add additional people (1 or 2) in specific areas.
2 mill. same as 1, but also reduce a but of debt to reduce interest payments.
5 mill. reduce debt, increase development team, hire business development people and additional ops people
10 mill. debt free, same as five mill. Buy out competitors / strugglers for additional revenue
20 mill same as 10. expand, go global. 2nd and 3rd office.
duplicate what we do in other regions.
pay my self and my team a one time bonus.