Recently I have been participating in the Niche Site Duel, more as an experiment than anything else. But the reason I have been playing around with things like this is I am trying to build myself a strong income stream. A stream that comes from multiple sources and ideally that can be eared from any country in the world.
To do this, I have been setting up income businesses. An income business (versus a value business) is a business that you can set up for relatively low costs, that will bring in consistent income. While many income businesses are now forming online, they dont have to be online. An example of an income business would be a cafe, restaurant or convenience store. They are never going to turn you into a billionaire, but they allow you to earn your income yet still have more control over your life (at least that’s the idea, doesn’t always work out that way as im sure many restaurant owners would argue).
Currently here in Vancouver, I am exploring the possibility of a value business. A business that has the potential to make lots of money but comes with high risk, more stress, less flexibility etc…
While I have been travelling though, I have built one online income business that has managed to make me a decent profit and is continuing to grow. This business has been an ecommerce business. The model I followed was the same as the one given in the 4 hour work week by Tim Ferris, and truly does work. While it can be a bit of work initially, it does pay off in the long run.
I am launching a new site in the next couple of weeks that will be a free course to show people exactly how to build an online store. Its going to be AMAZING!
No seriously, I already have 4 hours of video content, with loads more coming. It will show you how to go from absolutely nothing, not even an idea (although if you already have a product or idea that will help) to owning your own ecommerce store.
It will include product research and selection, domain research and selection. Build the back end of your store (don’t worry, you don’t need to be a techie!) including setting up tracking and payment processing. Designing your store. Building the content. Plus building a marketing and customer retention strategy.
So make sure you subscribe over to the top right as this site is going to kick ass and be totally free!