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- May 1, 2011
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I empathize with your story as it took me several failures (and a few years of hopeless struggles) to finally find a lucrative business model for me.
Firstly, just so you don't think you're alone or that your struggles are atypical, take a look at this thread: NOTABLE! - How many Business Failures did you have before success? Note how many failures it took for most people to reach success and how many people are still failing.
Secondly, I don't think it's about finding a money-making process that works. E-commerce is a process that works, but it doesn't necessarily work with your first, second, or even third attempt. Same with any other business model that's successful for a lot of people—and unsuccessful for a lot of people still trying to figure it out.
It all depends on personal preference, but I prefer businesses that you can start with zero or no capital. Even if they fail, at least you won't lose anything else but your time, while models like e-commerce can cost you a lot financially. All of the following models require little to no investment and have been proven to work for a lot of people:
What do you do in your day job? Do you have any marketable skills that you could offer to start out as a freelancer and then perhaps transition to a productized service business?
Firstly, just so you don't think you're alone or that your struggles are atypical, take a look at this thread: NOTABLE! - How many Business Failures did you have before success? Note how many failures it took for most people to reach success and how many people are still failing.
Secondly, I don't think it's about finding a money-making process that works. E-commerce is a process that works, but it doesn't necessarily work with your first, second, or even third attempt. Same with any other business model that's successful for a lot of people—and unsuccessful for a lot of people still trying to figure it out.
It all depends on personal preference, but I prefer businesses that you can start with zero or no capital. Even if they fail, at least you won't lose anything else but your time, while models like e-commerce can cost you a lot financially. All of the following models require little to no investment and have been proven to work for a lot of people:
- productized services (here's a good article on how to go about it: http://www.tropicalmba.com/quick-launch-biz-ideas/)
- self-publishing (which is largely a numbers game of publishing consistently until you find something that works),
- content-based businesses like blogging, vlogging, podcasting, and other similar personal branding businesses (which, to be more specific, is a strategy to build a loyal audience and then sell them whatever products fit the market best),
- selling all kinds of digital products, including e-books, access to a database, coaching, templates, etc.
What do you do in your day job? Do you have any marketable skills that you could offer to start out as a freelancer and then perhaps transition to a productized service business?