A millionaire decided to give up all his wealth, starting from zero, to prove that making $1,000,000 from nothing is achievable.
Recently, Mike Black, a millionaire, decided to make himself broke to see if he could build a business from nothing.
His goal was to create a million-dollar business in just one year.
This challenge came during the tough times of the COVID-19 pandemic in 2020, a period when many people were struggling to keep their businesses afloat.
Hardships inspired Mike to pursue a fresh start.
Mike was not a stranger to success. He had previously run a seven-figure business.
However, seeing how many of his friends and family lost their jobs and businesses due to the pandemic motivated him to take a different path.
He wanted to show that starting over could lead to success, even when circumstances are difficult.
“I wanted to actually start over and give someone a framework to go step-by-step to change their life,” Mike said.
“People are building new businesses who have never done it before, and I want to do it with them.”
Millionaire gives up riches to prove anyone can make $1,000,000 from scratch
On July 10, 2020, Mike left behind his comfortable life. He wanted to start fresh with nothing.
He changed his name to Scott and took on the role of an aspiring videographer.
He left his home and cut ties with friends and family.
He took only a few essentials with him: his phone, a couple of clothes, some COVID-19 protective equipment, and his camera gear.
The millionaire established specific rules for his challenge.
Mike set clear rules for his challenge.
He could only earn money from businesses he started during the project or from work he did.
Any money he made from his YouTube series would not count towards his goal of making a million dollars.
“Any revenue generated as a result of the YouTube series will not count towards the $1 million goal.”
The millionaire encountered numerous challenges throughout his journey.
He admitted that he made a lot of mistakes, which he wanted others to see.
Mike wanted to show that making mistakes is part of the process, even for someone with experience.
In one of his videos, he mentioned that he went from being homeless to making about $350,000 in profit.
He lived in an RV and even signed a contract for a house.
However, by the ninth month of his journey, things took a turn.
Mike shared that his personal health was declining, which made it hard for him to continue the project.
He had to end his challenge earlier than planned.
Despite not reaching his million-dollar goal, he was still proud of his achievements.
Mike’s final earnings fell short of his goal.
In his final report, Mike revealed that he earned a total of $64, 158.95 from July 10, 2020, to May 10, 2021.
This amount was far less than his original target, but he felt it was impressive to go from nothing to earning about $10,000 a month.
“I still think if the cards fell a little bit different maybe I could have,” he notes. “But it’s still pretty cool to go from absolutely nothing to $10,000 in monthly revenue.”
Social media reactions
He failed the challenge and also proved having rich parents plays a big part in your life, one user said.
This feels more like an insulting, demeaning flex than an actual experiment. Wish I could just snap my fingers and “experiment” being rich, the second user wrote.
But he still would have had great credit to get a loan and experience for his resume, the third user commented.
Honestly should have just not touched his money and tried it, another user said.
nope; did not start from scratch then. He took equipment with him to begin.
Try buying that needed equipment when you don’t have the money for it, someone said.