Okay, okay. I know that the picture above is a little far-fetched but hey, I can dream, right?
Money falling from the sky and into their pockets is sometimes what first-time entrepreneurs think will happen when they launch their first business, though. It would be great if that were the case, but most times it is not.
Creating a business takes hard work and dedication. If you choose a good business model and set it up correctly, a business CAN bring you profits with very little work on your part after the initial setup is complete. There are business models out there that have a very low startup cost ($under $50), will take you just a few weeks to set up, and will deliver consistent profits for as long as you maintain the business.
That is a model similar to what I am using. My new business, Local Lunch Club, connects businesspeople in our city with restaurants in our city by offering them daily lunch coupons for restaurants who have signed on with us. We are giving the restaurants a two week free trial to show that we can drive traffic to them, and then after the trial we will negotiate a small monthly fee that they will pay us for our advertising efforts. The amount depends on how much business we drive to them during the trial.
My business partner Fred and I spent probably three weeks getting this set up (although most of the work was done in the first week and a half), it cost us less than $50, and assuming the people on our email list actually use the coupons we send them, the restaurants will be happy to pay us a small fee for this repetitive advertising.
I absolutely love this business model because now that the hard work is done, we get to sit back and collect money each month from doing very little. All there is to do now is maintain the system by making sure we receive the lunch specials from the restaurants each week and loading them into the autoresponder. That, and making sure they pay us!
(In our case, we may need to get more people signed up to receive the coupons because I’m not sure we have quite enough yet, but we will be doing that this week during the free trial.)
If this business works out, Fred and I are planning on repeating the process in different cities around the country. This, to me, is awesome because it means that I would get to take an extended road trip with one of my best friends while setting up multiple (almost) passive income streams. We would see the country and be getting paid for it at the same time!
I can’t imagine anything better.
What business would you like to start? Leave a comment below and let me know!