Every Month You Delay, £500 Will Be Removed From Your Stake
A new challenge for the McEwan brothers
A wise old man asked his son a question.
“If you cut down a tree, how much is it worth?”
“I’m not sure, dad. £50 or £60.”
“What if you cut it up into small logs and sell it as firewood?”
“I could get £200 to £300 selling it to homes with wood burners.”
“What if you make it into paper? How much would it be worth then?”
“I imagine I could sell it for as much as £3,000.”
“How about if you were to use that tree to make a book? If you put all your knowledge into that book, what would it be worth, then?”
The son thought for a moment.
“It is possible that the book could be priceless, dad.”
“What are you worth?
Like the apple striking Isaac on his head, the wise old man’s question caused enlightenment. The son nodded and answered.
“My worth is not in what I am now, but in what I can make of myself.”
The new challenge
It’s been a year since I gave my kids a wad of cash and set them a challenge.
They each got £1,000 and had to make as much money by using it to invest, buy and sell, or any other legal method.
They had interesting results and learned a lot, including the most important lesson of all.
I learned a lot about my kids — that they are all different. One is a spender, one is a saver, and one is an earner.
They have unique and complementary skills: Engineering, Business & Entrepreneurship, Marketing.
And that gave me an idea — what if they had to collaborate? Are three heads better than one?
- Would their skills combine to make them better investors or worse?
- Could they start a business together and operate it remotely?
- What would they do with £3,000 if they could only share the profits from it after a year?
The challenge
Okay, guys, I’m going to make £3,000 available to you. You can use it to make yourselves some money. After one year, you will share all profits you make.
Here are the rules:
- The £3,000, or whatever is left, has to be returned after a year.
- No gambling. You are not allowed to put the cash on red or black.
- Your venture/investment has to be legal (not that you would do anything illegal).
- Produce a business/investment plan prior to the release of monies (a one-page argument will suffice).
- For each month you delay getting started, £500 will be removed from your starting fund.
You are on the same side, working together for your mutual benefit. How you do that is up to you, but I would suggest you adopt a democratic approach.
You have nothing to lose. However, if you decide to waste the money on a big party, remember I have skills. I will find you and I will spank you (if I’m not invited).
Good luck.
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