Passive income, especially online, is one of the most profitable and rewarding ways of making money today. Firstly let me point you in the direction of a GREAT passive income resource www.smartpassiveincome.com. Pat who runs that site is always full of great info on starting a small business and how to use passive income to escape the 9 to 5 and gain financial freedom.
But don’t let the idea of passive income opportunities make you think of no work and free money.
Setting up a stream of passive income is hard work, but once you get it going and do it right it will just get easier and easier. So here are three secrets that everyone who wants to earn passive income needs to know. 3 opportunities that if you take a hold of you can set up a few streams of income that come rain or shine will be there for you to rely on.
Alright, it’s crunch time people. Today I want to share 7 Profitable Business Ideas with you to help if one of your new year’s day goals is going to be ‘work for myself’ or ‘start my own small business’ then listen up! You need to start the ball rolling today if you are serious about working for yourself and making 2016 your most profitable year ever. To kick start your resolution I’m going to lay out the 7 most profitable business ideas for 2016, ideas that if I were starting from scratch today I’d do.
Pursuing profitable business ideas are the difference between sitting behind a desk at reading dilbert cartoons for the next year and traveling Europe while you the small business you started in 2016 pays your way! If you are serious at starting your own small business this year then please read over these 7 profitable business ideas and take them to heart… they may just change your life!
One of the books that propelled me into entrepreneurship was Timothy Ferriss’ Four Hour Work Week...I read and re-read this book to the point of pages tattering while traveling after college and loved the ideas, passion and personality the author put into helping others reach his 4 hour lifestyle. Over the next Year I focused 100% of my goals and motivation towards becoming an entrepreneur and living a similarly free life where I could escape the 9 to 5 (hence the name of my blog) and travel the world with ease. Not surprisingly it wasn’t so simple… but I don’t think Ferriss ever intended it to be. He was/is a very hard worker… and if he really does only work 4 hours a week than I imagine they are the most hard core, packed hours of his life. I don’t think the ideal of the four hour workweek is unattainable, I just think it isn’t for everyone. But if you do really want to cut your hours down to practically nothing and still make a killer living its possible… there are just some tricks and tips along the way.
Want to know the single best way I save tons on overhead, employee a team 2-3 sizes bigger than I could normally and do it all from the comfort of my macbook? One simple word: Outsourcing.
If you want a profitable business idea that not only works but kicks butts and takes name outsourcing is it. It is something that many look down on but done correctly outsourcing part or all of your employee force to other people and countries can be a business life saver. Outsourcing is the single biggest reason that I was able to build up a full fledged social media marketing business in less than 5 months and it has also helped me open two other entrepreneurial endeavors. I think that outsourcing, in any capacity, is one of the best ways to truly escape the 9 to 5 and start living your life instead of just working through it.
If you sold a product that was an extension of the most important part of your customers life do you think they’d buy it? Absolutely they would… if you could grasp a product or idea & package it that had to do directly with what matters most to people you’d make a fortune! Look at the companies that do just this: weight loss pills promise you thin pins, beauty creams promise you eternal youth, banks promise to grow your money (or used to). All these companies feed off the things that human kind obsesses over, things that are close to their heart. But what is the most important thing in most people’s lives that is often over-looked?
I’ve been writing mostly about social media marketing & how to start a small business as of late. But the reason behind why I work like I do and am creating a mobile lifestyle is so I can pursue my truest passion, which is writing. Who knows, I may be awful at it.. but I’ve written over 100 pages of short stories in the last three years and I am sick of waiting for ‘one day’ when I’ll have all the time and money in the world and I can get my writings published. Screw the man and the horribly hard process of getting published.. I am just going to publish it myself. Here on Escaping the 9 to 5, because fiction is another thing that helps me escape and makes me smile.
I just turned 24, have NO corporate or classical biz experience and am entirely self taught. For years now I have read every business book & downloaded hundreds of hours of podcasts on internet marketing. I dare to say I know more about general business, online marketing & being successful in a virtual marketplace than most of the middle managers twice my age with two kids and a Volvo.
Today all over the country & the world people are quitting or getting canned from jobs they’ve slaved at for years. And then tomorrow, or the next day (depending on how long their savings/unemployment pay lasts), these same people will go out to search for another job like the last and repeat the whole vicious cycle over again.
Well, I for one am not one of those people. I escaped.