1000 Ways To Make 1000 Dollars

“1000 Ways to Make 1000 Dollars” written by F. C. Minaker. This book provides practical suggestions based on real experience for starting your own business and making money in your spare time.

Let’s know about this book which will tell us so many ways to earn money but before that, do you also want to know one thousand ways to earn a thousand dollars?

We will tell you some stories about different people who started successful businesses and are enjoying a rich life today.

There are some people among them who even did not have a job and some started working at a young age. Although they faced many difficulties but they did not give up.

“1000 Ways to Make $1000” was published in 1930. This is a classic book but all its principles still hold true today. The famous author Warren Buffett was also very interested in reading this book when he was young. This book has been made available again for a new generation.

Chapter One

How to start your own business

If you want to be an entrepreneur start your business right now. There is no better time to do it. If you think that people will like your product or service, then start your business today. Don’t wait for tomorrow. And don’t waste your time thinking that the situation is not right now. Because “what you can’t do now you can never do”.

Do not listen to what people say around you. If you are thinking about the difficulties that you will have to face in business, then you will not be able to take any step. So leave the tension and start now.

The only thing you need is determination, called “Guts“. If you have guts to be successful, you can never lose. You may have to face some difficulties in the beginning but your goal is to be successful and earn money, so that you can live a better life. To get all this, you have to start your journey right now.

You might be thinking that you don’t have enough money to invest in your business but it can also be arranged. Most importantly, you must have will power. So start your own business and do it today.

You will inspired from the story of Gustavus Swift. A young man who had difficulty in walking. He lived in a small village. He had no money but he had guts. Other boys in his village also wanted to do something to earn money. But Swift did not waste his time thinking. He started. He knew meat dressing. So he took a big piece of meat and dressed it very well. Then he walked miles away to sell that piece of meat. He was considering it as an adventure. Then after sometime he came to Chicago where he started his swift packing business. And today Swift is one of the leading processed meat brand.

You will also have many business ideas, you have to choose the best one among them about which you have a little knowledge.

The Story of “Morning Glory” Tomato Juice

Mrs. Snead opened her own tomato juice business. This was during the depression era. Snead family lived in Evanston, Illinois. Mr. Snead lost his job due to which the whole family had to struggle to survive. His two sons were college students.

One day a friend sent them a box of fresh tomatoes. Not knowing what to do with them, Mrs. Snead decided to convert them into tomato juice. She extracted the juice of these fresh and juicy tomatoes. And sent some bottles to her Neighbours and they really liked her tomato juice.

Mrs. Snead thought she could make a lot of juice. She shared this idea with her husband and sons. So, they started the business of tomato juice. They would call it “Morning Glory” Tomato Juice.

Morning Glory was a bit more expensive than other tomato juices available in the market but people were still buying it because it was fresh, tasty and homemade. Morning Glory was made from fresh tomatoes, So its quality was excellent. Their business did so well and the Snead family had to rent a plant next to the railroad.

Their customers were increasing day by day. Tomatoes were in demand for more juice. Now they started supplying juice to restaurants and railroad companies as well. Then gradually Morning Glory started to have other products as well. And all this happened because of Mrs. Snead’s idea which came to her in the kitchen.

How Otto Schnering Made His First $1,000

Otto Schnering was only 21 years old. He is determined to start his own business. He thought that there’s money in selling candies. So he bought his own candy making machine worth $100. The candies he made did not sell because Otto made the common mistake that entrepreneurs make that is, “If you make a product that you like, it will hardly sell, but if you make a product that people like, it will definitely sell”. Otto made the candy that he liked but he didn’t think about the customer’s choice.

Fortunately, Otto realized this soon that there are mainly three types of candies that sell best: chocolate, caramel, and peanut candies. It took Otto three years to made the perfect recipe of a candy bar. He combined all three best selling flavors in one candy. He decided to call the bar “Baby Ruth”, this candy bar had all the three flavors of chocolate, caramel, and peanut and the price was only 5 cents per bar. Otto named the candy “baby Ruth” because it was easy to remember and pronounce. Otto had invested 1000 dollars but now he was making much more than that.

A question is, why start a business with 1000 dollars? Because this is a reasonable amount which will give you focus and motivation. Most people fail because they do not have a target in their business. By setting the amount you will have a clear objective.

Mrs. MacDougall Turned $38 into a Million

Now talking about Mrs. MacDougall who was a widow living in New York City. After the death of her husband, she was raising her three children alone. Apart from her household chores, she knew only one work and that was “coffee blending business” which was run by her husband. But Mrs. MacDougall did not have much money to invest. Others who were running the coffee business thought that she would not last more than 6 months.

But Mrs. McDougall proved everyone wrong. She mapped the area of seventy-five miles in New York and personally marketing for her business. She started supplying clubs, hospitals and sanitariums. Mrs. MacDougall earned $20,000 in just two years. After building a reputation for good coffee, she opened a small coffee shop in Grand Central Terminal, serving coffee and simple foods.

Over time, Mrs. McDougall opened six more coffee shops in New York City. When she was 65, there was a time of great depression but she did not give up rather she opened three more shops at the same time. If there was any other lady, she would have given up in such a difficult time, but Mrs. McDougall never gave up. she had big guts about her success. This was the story of Mrs. McDougall.

Chapter Two

Selling as a Business

Yes, being a sales-agent has many advantages. Good will and trust of customers is your real capital. The sales-person does not have to wait for the race. He can earn as much as he wants and he does not have to sit in the office all day.

Selling is actually a very interesting job because you meet so many new people. Many successful and influential people know you and you know them. You do not work under anyone, you work independently. As long as you have a good relationship with the customer, you will continue to make money.

In simple words, Sales-agents educate people like how and what to buy. You buy home, washing machine, a vacuum cleaner or anything , a sales-agent motivates you to buy the product. This means that sales-agents bring happiness and satisfaction in people’s lives.

George Conrad’s story

George Conrad’s story is also very interesting. He never gave up. He was a sales-agent for slicing machines. He went to groceries, restaurants and meat stores to sell his product. George enters the shop and shows the shopkeeper a colorful image of the slicing machine and asks how do you like it and the shopkeeper replies that it is good but I cannot afford such an expensive slicing machine.

So, George took the real machine from his car and placed it on the counter of the shop and said it is a low price slicer but it looks expensive. How much can you pay for a slicer in cash? The shopkeeper says because business is slow, So I could not pay over $10.” George’s standard response is, “Well, if you can pay that much, go for it. This slicer will cost you only $7.50”. Shop owners got surprised because the price of the slicer was less than they expected.

So in this way George sell around forty slicing machines in a week. Because he gave amazing demo of his product. He gave multiple benefits at low price.

Chapter Three

Making Things To Sell

A person can learn any skill if he wants. If you have any talent then you can improve it by practicing. The old saying that “Genius is one-tenth inspiration and nine-tenths perspiration“.

Often people get burned by famous writer, musician and athlete because these people are talented from birth but People don’t know that with hours of hard work and practice, they have improved their talent and have achieved this level.

Just think about your favorite author, he has achieved this position because of his passion for writing. He must had worked hard for a perfect style and by practicing day and night he would have written best selling books. Every expert artist has once been a beginner. No writer becomes a writer in the first try.

If you also want to become an entrepreneur, you have to start from somewhere. Even if you fail, don’t give up. Try again. You will be successful only when you stay on your track.

What do you want to do, it might be your future business? Maybe you chose a career because of your needs, but your hobby is something else, so what could be better than turning your hobby into a business?

How is the community where you live? Are there enough children in it? Do people live in apartments. Do you live in a village or in a crowded city? You will Definitely find some product that you can sell in your community. If you have something to sell, tell everyone, get out of the house and sell your product.

Billy B. Van and His “Pine Tree” Soap

Billy B. Van was a comedian who became a successful entrepreneur. He was a comedian in a theater but then he had to leave his job because he got tuberculosis (TB) disease. He had no money at that time, so the members of the company and other friends financed his period of recuperation in the White Mountains in New Hampshire. Here he regained his health and in two years was able to go back to the theater. His long stay in the pine forests gave him an idea.

As many people like the pine tree fragrance but cannot go to the forest because of lack of money and time, so Billy B. Van came up with the idea of making Pine Tree Soap and selling it.

He found a soap maker who could make this soap for him. But Billy had to do the selling himself. Billy started laughing thinking that he had been a comedian all his life, he had never sold a single thing, but then he felt that he had been selling all his life. He sell his jokes and acts everyday to the people.

He filled the soaps in his pocket and went out to sell them. But there were a lot of challenges he had to face. The drug store owner refused to buy his soap. And Billy didn’t have money for advertising, so Billy came up with another idea, he did his shows in hotels, that’s why he was known by most of the managers in the country. A hotel gave him permission for a try order. Billy packed his soaps very well and put a sticker on them that said “This soap will keep everything clean but your conscious”.

The very next day he received a note from a guest and he said, Dear Billy, I really like your soap and I want six more soaps, here’s your money, and that’s how Billy started earning. He was getting a lot of orders from many other guests, so it means that your illness or missed job does not mean that you cannot be successful now. Billy successfully made his career shift, he proved that a comedian can also become a successful entrepreneur.

Chapter Four

Raising Things To Sell

You might be interested in raising plants or animals. There are many opportunities to plant fruits or vegetables and taking care farm animals such as poultry or fish. You do not need to have a huge farm, you can even start a business in a cellar.

GEORGE JESSUP made a lot of money by raising bees. He started with just one colony. He put the bees in the cellar and gave them a good hive. Bees were making honey and they do not require much attention. In one year a hive can produce 100 pounds of honey.

In second year the colony was increased greatly by a winter brood, so he split it, and made a second colony, which also came in with a hundred pounds of honey. That, he found, was about the average yield for each bee colony. Meanwhile, he was so pleased with the way the bee keeping was going, so he increased the number of colonies to ten.

Chapter Five

Promoting A Small Business

The main ingredient of a successful business is good relationship with customers but especially with restaurant business, promotions and advertising are needed all the time to bring in more revenue. There is a lot of competition and a restaurant owner has to find ways to win the market.

When John P. Harding opened his first restaurant in Chicago, people paid little attention to it because it was just another addition to the hundreds of restaurants in Chicago. Everyone thought that Harding would only be able to run the restaurant for a few days because of the competition. But he proved everyone wrong.

John Harding had a brilliant idea to advertise his restaurant. People liked his idea and his business became so successful that he opened six more restaurants.

Of course, Harding’s focus was on providing good food, but his effective advertising greatly helped him run his business. He placed a small ad in the local newspaper which was very funny to read and had some funny cartoon pictures. He also put this ad in his window display.

He began by featuring corned beef and cabbage in the advertising and soon was known as the “Corned Beef King“. Then he featured his other special dishes.

Harding ran an advertisement about ham, illustrated by “a laughing little pig sitting in a glass of champagne” and underneath that was something very creative. Actually, the ad worked. Since the ad appeared in Chicago’s morning papers, Harding’s restaurants have been crowded daily. However, the cost of advertising was high but the results would be proportionally greater.

Chapter Six

Selling Things By Mail

If you want to start a mail order business, you must first find your target clients. Identify the clients you want to differentiate from the general population by looking at their appearance and lifestyle.

Next create your mailing list. You can use pay per click ads, social media posts or blog content to attract more clients. You need to get their name, address and contact number. Your mailing list is your asset. This is where you will generate income.

In the past businesses used direct mail to connect with their customers, the same principle applies to selling things online. You must know how to write a sales letter.

A One-Man Business with a Million Customers

Henry Field traveled by horse and buggy to sell seeds. He crosses muddy fields to reach his customers. He won the trust and loyalty of the farmers. When he moved into the mail order business, more farmers bought seeds from him.

He writes his sales letters in the same informal, personal and friendly way he talks to farmers. Henry keeps his letters short and to the point. Soon his business expanded to general merchandise. He uses the same method with his sales letters.

Chapter Seven

Selling Your Services

If you want to get started in a service business, you first need to ask yourself what you love to do. What do you do best? Do you have any special skills or expertise? It is important for you to be an expert.

In other words, you have to narrow your field. You need to find your niche so that you can improve and master your skills. You can also eliminate the competition. Find your niche and be good at it. More importantly, always give good value to your customers. People will be willing to pay more if you offer quality services.

Sewing for the “Hard-to-Fit” Woman

There was a dressmaker in Chicago who specialized in women’s dressing. One day an extremely stout woman complained that she could not find clothes to fit her. The dressmaker came to her and fixed an appointment. The stout woman had a sister and some friends who had the same physical structure. The dressmaker suggested clothes and outfits that would look good on them. They all became loyal customers of Dressmakers. The women trusted her and recommended her to people they knew, and soon the dressmaker was doing a good business.

Chapter Eight

Storekeeping as a Business

Perhaps your town has many grocery, drug stores or hardware stores. Some of which are part of large chains. So, how do you start your own store?

There may be products or services that people have to travel to other cities to buy. So here’s an opportunity for you. You can start from there by identifying what products are lacking in your community. You should choose a location that is close to your target market and start selling your product or service to the people.

Chapter Nine

Starting a roadside Business

Ralph Watkins, a tropical fish enthusiast, opened an aquarium in Chicago’s South Beach District. At that time he had eight types of fish and ten small tanks. On the day of his inauguration he did not have a cent in his pocket.

One day a girl came to his shop, she wanted to buy a goldfish, after buying it she said: ‘What should I call it?’ ‘What is your name?’ asked Watkins. ‘Sonya’. ‘That goldfish should be called Sonia,’ he replied. It became trend. The kids bought a fish and they named after themselves or other kids in the neighborhood, and he ‘rang up’ at the sale for three dollars. Because the kids liked the idea of ​​naming the fish they bought, they came back again and again.

This gave him an opportunity to teach kids and their parents about proper fish care and to point out the decorative possibilities of more expensive fish. At the end of three years he had 130 tanks of 120 species of fish and he earned thousands of dollars a year from this exciting business.

Chapter Ten

Paying For A College Education

Many celebrities attribute their success to their early work experiences. Part-time college jobs are a great way to learn how to value money and deal with different types of people. Most importantly, these jobs help build one’s character.

One Saturday afternoon, E.A. Huntley was washing his car, when a young man approached him and said “I’m sure the car would look better if it was simonized.”. Mr. Huntley replied that of course it would but it would cost $5.00 and and I don’t have that much money yet.

The young man handed out a small card with the word “Simonizing” written in the center of the card and the young man’s name, address and telephone number in the lower left corner. “I’ll Simonize your car for just $3.00, and I’ll do a really good job.

Mr. Huntley is surprised and asks him about himself. Mr. Huntley discovered that the young man was actually a student at the University of Washington. He used to clean and polish cars on weekends. The young man would go to factories and offices to find customers. The boy asked so politely that Mr. Huntley accepted his offer.

Conclusion

Well, after reading many of the stories in this book summary, the bottom line is, what would you do if you too had the opportunity to make your first $1,000? Whatever money you earn, spend it wisely. You can invest this money in stocks and bonds but as the saying: “don’t put all your eggs in one basket”. Sell ​​your stock when most people are buying and buy your stock when people are selling.

You learned many business ideas from this book. So if you are also inspired by these business ideas then start your business today. As you read in every story, a successful entrepreneur is one who has guts or courage. It doesn’t matter whether you are a student, widow, youth, unemployed or whatever. Whoever you are you can start your own business and earn money.

You also learned how to save in business. The common image of a salesman is that of a talkative person who will continue to talk about sales even if he is at a party. Even if you’re not that type, don’t worry, you can still sell. All you need is a little passion and a goal.

You also learned to make and sell things. Man becomes perfect by action. Any skill can be learned. When you practice a skill a lot, you can become an expert. Remember that every expert was once a beginner.

We also told you that you can earn money by breeding fish, farming or beekeeping or planting fruits or vegetables. It all seems like hard work, but if you start, you will be able to do it. It’s very satisfying to watch things grow in front of you, like breeding chickens or fish.

We also told you about roadside business in which the only secret is that you have to pay attention to the needs of the passengers. Don’t forget to put up visible roadside signboards so that your product or service reaches them.

Storekeeping is also a business we have talked about. There may be many stores in your city but it doesn’t matter because there are certain jobs that you will be good at. So open a relevant store because good products or services are always in demand and people pay for it.

You also know about small business promotion, you have to maintain your relationship with customers and that should be your priority, but yes, don’t forget to do good advertising and promotion, it will help in growing your business. Think of some new and great ideas to attract more customers.

We also gave you the idea of ​​selling by mail but before you start it, create your target client list. Remember, the best sales letters are those written in a friendly and personal manner. You can include some interesting stories in the sales letter and don’t forget to mention the order at the end of the letter.

We also told you about service based business. Business can be successful only if you are expert in service business. If you think you are an expert, there will be no competition. Make sure to give your customers more value. This will make the customer want to buy your services even at a higher price.

We also told you how to earn while studying. By starting self-employment you can cover all the expenses of your studies. But like every entrepreneur, it takes courage. A working student learns a lot which helps in building his character.

So, do you also have a business idea? Now you know that there are unlimited ways to earn money, all you need to do is leave home and work hard. There are no shortcuts to success. People who are successful businessmen today are because they never gave up. As the old saying: “Winners never quit and quitters never win”.