Can you Live and Work from Anywhere?
Starting an online business can be a bit daunting.
- Where do you start?
- What product should you offer?
- Can your current business (if you have one) be mobilized?
Before you launch into creating an online business, there are a few key things you need to keep in mind.
Firstly, anyone can run a business. BUT we want you to create a profitable business that enables you to Live Anywhere….and Work from Anywhere.
There is a difference.
We aim to help you create an online business that you can run from any corner of the planet you choose.
Over the next few weeks I want you to think about a product idea in an industry where you have an interest AND where you know that others are doing well selling this particular ‘thing’.
For example, if you have a pet bird and you trained it to speak, you could consider selling a booklet on how bird owners can train their birds.
BUT are there competitors in your market that are making a decent living out of doing this?
Maybe…but most likely not!
We are looking to have you make at least $1000/ week from your product, so selling a $39 booklet on how to train s bird is not going to take you closer to your FREEDOM goal….
It could, but the road to get there is a lot tougher!
So, before you create a new business, see if it passes our ‘Live Anywhere/Work Anywhere’ RULES and if it is profitable:
Live Anywhere/Work Anywhere RULES:
- Can your business idea be digitalized? I.e. Can you create a digital information product out of it that you know others would buy? In the above example of training a bird to speak, yes it can.
- What price point could you set for your product that gives you a decent profit per unit sold?
In the above example, selling a $39 booklet makes it that much harder to reach a goal of say $1000/week. Selling a product for $147 for example makes life much easier 🙂
- Is there a need for your product?
You will have to do some concentrated research to see if there is a market for what you are selling.
Best thing to do is Google it. See if anyone else is advertising and selling a similar product idea to yours.
Don’t be turned off your idea if you see other advertisers….it’s actually a good thing. It tells you that someone else is actually making money with this idea and has probably already done the research.
The next question to ask yourself is what can you do to be better then your competitor?
- Can you think of at least 3-5 marketing channels you can use to sell your product?
This can include magazine ads, FB ads, pairing up with a similar but non-competitive business etc…
The idea is to see how you can reach this audience as cheaply as possible.
Use the above to flesh out your business idea and let me know how you get on!
Feel free to get in touch if you have any questions at all at: firstname.lastname@example.org
I’d love to hear from you!
Written by Nalisha Patel, co-creator of The Escape The Photocopy Life Program.