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Feedback needed: Building Online Assets vs. Digital Agency

LastChance

New Contributor
Dec 10, 2017
2
1
33
Planet Earth
My situation:
I work about 50-60 hours per week and want to start a side biz that can give me the opportunity to quit my job in the midterm and can create massive wealth in the long term.

I have some experience and skills in online marketing that I want to take advantage of in my side biz.

I have two ideas:
  1. Building Online Assets for myself
  2. Offer Web design / Digital Marketing as a service aka Digital Agency
Both have there merits but I don't have enough experience to know for sure if my opinions are right. That's why I ask you for feedback.
I think I can provide value via both options.

What's important for me:
  • decent income in the midterm (12 month)
-> My opinion: I think it's easier/faster to build a decent income selling digital services.
  • scalability/wealth creation in the long term.
-> My opinion: Once you are up and running and have got some momentum I think making $1 million / year with online assets will be easier than with a service business.
  • probability of success
-> My opinion: Selling digital services has a very high probability of success if you create a decent USP and are good at selling/cold calling/networking. I don't know about online assets.
  • passive income/fun
-> My opinion: I think I would enjoy building online assets more and it can be run more passive however finanical freedom is more important than fun for me atm

My problem: I can only work in the evening or very early in the morning. As a service business it might be a disadvantage to not be available during work hours. However I think there can be solutions for that like hiring a virtual assistant, also I would want to outsource most of the work once I got some traction/experience.

I am looking forward to get some feedback from more experienced and knowledgeable people to help me to make a better decision.

Thank you very much!
 
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Last edited:

animalstyle

Contributor
Read Fastlane!
Jan 5, 2018
12
25
USA
You're looking for:
  • decent income in the midterm (12 month)
But you already have it with your job.

Since you want the results that come with building digital assets, I'd suggest you spend your free time building these assets while either continuing to do your job OR you'll need to stop your job, make the switch and take the risk to build an agency, THEN build your assets.

In your shoes, I'd think it all comes down to one simple question: is your job sustainable and does it leave you enough time and energy to build the assets?
 

Eleven

Contributor
Read Fastlane!
Read Unscripted!
Jul 18, 2012
19
33
Portland, Oregon
I've worked extensively both as a digital service provider (copywriter) as well as hiring freelancers. I wouldn't say that having a job creates inherent issues with providing digital services. But if you're trying to build out an agency, hire people, etc., that could be quite challenging while keeping a day job.

The advice above from animal style is solid. There's prob no reason you can't at least get started building "digital assets" while keeping your job. You can at least start and see how it goes, then reevaluate quitting when the time comes.

Another option is to find a job that doesn't require a 50-60 hour work week. If you can work just ~40 hours a week, that frees up 10-20 for your side biz.

You could also try freelancing and providing digital services on the side of your current job. See what you're able to do and what kind of income you can generate. If you get some momentum, then you could consider quitting your job. You could continue to freelance at an amount that pays the bills while spending the rest of your time building a more scalable business.
 

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