inbound - 9:09 am on Sep 14, 2011 (gmt 0)
The gaddafi idea has legal issues (effectively a lottery, even if you can claim it's skill based game it's still gambling).
How would I do it? Well, given that I have turned over more than GBP£1M but nowhere near that figure in profit I'd do something that didn't require paid staff.
I'm busy doing something which has a much higher investment than the £2-3K, but if I started with that amount I might do controversial mobile apps (anything involving gaddafi would be good right now, e.g. skill based throwing of shoes at him with amusing retorts based on your performance).
I might also look at the top 100 or 1000 websites that are out there and see if I have any skills/information in those areas to exploit. If you have something good in a popular area it should be easy to "go viral".
Also, controversy or conspiracy theories are always good - I would not do it but I imagine that tapping into the people who believe in various theories would be profitable.
Building a solid, reputable business is not a fast way to a million in comparison to flying close to the sun.