Matt from Wild Bluff Media sent me a link to The One Million Dollar Race. It is a brand new site with a very interesting theme. The idea is that it will keep track of who is getting closer to earning $1 million dollars through their website(s). And ultimately, who has achieved the million dollar prize.

What a perfect theme to compliment My Retirement Project dot com!

So do I think I can win this race? I don’t know. My Goal to achieve $1 million is within 5 years and I have only the one website. I am sure their are a lot of websites out there who can achieve this goal much quicker than I will be able to. But I have signed up because a little competition is fun and helps build exposure for everyone involved.

However, what struck me a as odd was that there was no rules. What race doesn’t have rules? I think the contest rules should be something like this:

• Only new websites with a limited fan base should be entered - this would prevent guys like John Chow or Shoe Money winning right away and ensure everyone is basically starting at the gates relatively evenly
• Limit the amount of websites a participant uses. This would prevent link dump sites and people who blog full time. Essentially leave the contest to the amateurs
• Outline the sources of income to be recorded. For me to achieve my goal of $1 million, I plan to use advertising, referrals, donations, e-commerce, services and interest (to name a few). Would these streams be allowed?
• A standardized method of reporting income so that there is less chance of self inflation to get to the top

I really like the idea and I am very excited to see what comes of it. Hopefully, many of us will see great successes from some friendly competition.