Before I share this story, I have to say even investing $5 in LinkIn with its IPO last week will not generate this type of returns for you. So how did I manage to turn $5 into $200,000 in a few days? Well it started being introduced to a great Entrepreneur (“Steve”) in the Valley who not only managed a number of successful start-ups he also raised over $30 Million in venture funding. I met him at an Entrepreneurship Breakfast Event where we exchanged cards and he said that I should connect with him and share my pitch deck with him so he can have a better understanding of JamiiX.
Within hours of sending it to him I got some valuable feedback and an offer to meet up for a cup of coffee which would only cost me $5. However that $5 basically brought me the following returns:
- 2 Hours of One-on-One Business Consulting and 4 Days of electronic mentorship from a seasoned entrepreneur who has been there and done it (Lets me modest and say a week of mentorship will cost $5,000).
- Introductions to some VCs in Silicon Valley with an endorsement from the entrepreneur (taking an average of what popular VC events cost $2,500)
- Exploring avenues for fundraising and being fundraising representative in Silicon Valley (Time and effort would be worth approximately $72,000 for a year)
- Support in getting the right content ready for a VC (Bill this into the mentorship package above)
Indirectly, through using what I’ve learned in other meetings in the 96 hours the following were gained:
- More introductions to VCs in Silicon Valley with a follow-up call
- Offer for part-time business development at NO cost (the level of the person for his time will be $60,000 for a year)
- US based agent to drive JamiiX, Opportunity to expand JamiiX into new markets and B2B Opportunities (Already a possible contract in place that could be worth well over $80,000 for year 1)
The above estimates were all using market related values and the gain from being polite and that $5 coffee gained us more than $200,000 in value. The biggest lesson I’ve learned here was that the greatest investment you can make is in people and the time and effort that Steve have invested in me during the last few hours is invaluable. So think about how you are investing in others because we all have something to offer that can change someone’s world and who knows what that returns could be worth one day.