Doubling to a million

I thought I would share with you a money making strategy I first heard about a couple of years ago. It can be quite inspiring and may give you some ideas.

The original idea was to start with a single penny or a cent. You then try to double your money. You repeat this process until you hit 1 million pounds,dollars, euro etc. It is quite surprising how quickly you get to a million. I personally decided to start at £1 to make the challenge less fiddly. You can see the chart below.

Step 1        £1- £2
Step 2        £2-£4
Step 3        £4-£8
Step 4        £8-£16
Step 5        £16-£32
Step 6        £32-£64
Step 7        £64-£125
Step 8        £125-£250
Step 9        £250-£500
Step 10      £500-£1000
Step 11      £1000-£2000
Step 12      £2000-£4000
Step 13      £4000-£8000
Step 14      £8000-£16000
Step 15      £16000-£32000
Step 16      £32000-£64000
Step 17      £64000-£125000                        Have rounded some figures down for simplification
Step 18      £125000-£250000
Step 19      £250000-£500000
Step 20      £500000- £1 million

As you can see from the chart once you have completed each step you would be left with £1 million pounds.

The main criticism with this is that once you get to larger figures (eg £125000) that it would be very difficult to double it again. I don't agree with this attitude. The way I look at it is that it may take a lot longer to double your money but you will have many more options open to you and much more buying power. You would have the ability to set up or buy a business if you desired or invest in land or property. It may take time but you might find yourself with a passive income from one of your ventures well before you make a million.
You can start out by buying things from a car boot or fare and selling on eBay for a profit. Later you can buy larger items or even import goods to resell. The interesting thing about this is that you will think of ideas for each step that you wouldn't normally consider.
I think this is a good opportunity to stumble upon a second income and even find a change of career.

I wont try to come across as to much of an expert as I'm still only on stage 5 and am sadly not a millionaire, but I will keep you up to date with my progress.