TotalStart

Lifestyle Business & Passive Income Talk With A Side Of Travel And Gadgets

Browsing Category Passive Income

Passive Income

Building A Lifestyle Business – Let The Games Begin!

Starting LIneWith 2014 officially under way it seems like the perfect time to fire up this idea I’ve been kicking around for awhile now.  Basically I’m going to spend an hour at night (whenever possible) working on building a small business and documenting it every step of the way.   Over the years I’ve had so many people ask questions about how to build a business online I figured this would be a great way to show in detail how anyone can go about building up a small business on your own.

My goal is to get to a business that generates $2,500 a month profit within 6 months,  and ideally I’ll be trying to make it as much of  lifestyle business / passive income stream as possible.   Lifestyle businesses are basically creating something that generates enough income for you to live on; while freeing you up from the confines of a normal 9-5 job.  The passive income side means that the business ulimately runs on it’s own as much as possible creating a passive flow of income into your bank account.  What most people say is that you should figure out how much money ideally you’d need to live on comfortably and make that your goal.   I figured $2,500/mo is a pretty solid starting income especially if it’s mostly passive, so that’s what I’m going to aim for.  Of course as with most any business the sky is the limit and really comes down to how much effort you put in building it up.

The reality is the internet is a giant gamechanger when it comes to starting your own business.   With very little capital and some hard work on your end there is no reason that everyone out there can figure out how to generate some or all of their income online.   The beauty of it is there’s little to no risk; the only thing you really lose if it doesn’t work is your time.  Even if your first idea fails, that time you’ve spent on it will make the next thing you try even easier and eventually you’ll find something that clicks and works out.  Every business owner out there has failed, probably countless times, before figuring out what works for them.

This Diary will give you a break down of what I’ve found works for me.  It’ll give you a good guide of how to get things going as quick as possible which is the name of the game.  You don’t want to spend alot of time messing around with an idea that wont pan out.  The key is to cut your losses early on if the idea is a dud and move onto the next thing.

So follow along, definitely leave any input along the way.  I’ll try to answer as many questions as possible to help you getting on the right path of getting your own lifestyle business off the ground!