So you decided to start a business now you need to find out if there is truly a need for your product or service
What Type of Business Should I start Brick and Mortar vs Online?
That is a good questions if you want to make a good money an online business would be ideal since it has low start up cost and profit potential to the roof but that is if you do it right,
as for brick and mortar you still can have it work if you bundle it up with the internet
for example a buddy of mine has a brick and mortar businesses he provides remodeling services for his business
you can check him out here carpet
anyways he sticks to the fundamentals he built a simple website on Weebly since he is not really a genius on wordpress like I am but anyways back to the point
In the first months its very crucial that you keep your business expenses as low as you can and try to make your business as self sustaining as soon as possible since if you were to go out and buy an office, coupled with a warehouse for all your new trucks, and tools for your shop its kinda hard to get up and running since your cost to run your business is going to be higher and you need a bigger amount of business to keep your business from sinking into the ground
and that being couples with an area that has decent market with rich people that need your service is a good mix because a lot of business owners move into a city without doing any research and just go to the corner and open a music shop or shoe repair without even looking at the market
anyway back to the remodeling business after a while David noticed that its not going to plan and the projects he was landing were not exactly what he was expecting he was, sure he was happy with the money but they were a lot of work and stress and he thought the money was not really worth all that hassle,
at his age that was a lot of money and trust me when I say he had all the toys and a nice home but he never got to use those toys and he rarely slept at his house due the amount of work he took on so guess what?
In one year he went from making a lot of money to making a smaller amount but he had all the time in the world now he was exited because it was his first ever passive income
Odd What did he do though?
He met a guy who had remodeling business and he has been in the remodeling business and he told David that he was leaving to much money on the table and was pricing his projects to low and buying his material at very high rates and there was a lot of tips the old man gave him, and so David thought why not just sell him the projects?
he could make a nice profit and I would make some money for nothing since my website is getting me business constantly i could just forward all that to him and charge him a percentage after that a monthly fee after I build a little more trust with the old man
so it began that same day David got a call and he forwarded that call onto the old man and the old man since he was in the business for a while new what to say and what to do and he ended closing that project within 3 days and boom money in Davids pocket
it was money he did nothing for
David is now a happy man lives with his wife and kids he spends most of his time traveling with his family and he enjoys his new life!
And that is the kinda thinking I want you to employ in your current business how can I automate what I have to offer to others and make a good amount of money for it?
David went from working himself to death to making money and almost doing nothing for it!