Hey guys, over the past few months i've been working on creating a few 'freedom businesses' that i've managed to automate, and are now bringing in some decent cash on the side
I wrote this up because i wanted to share my 'skeleton' and the phases that i go through to build each business from start to finish. It's very brief, and simple, because i wanted to show how simple this process can be.
Hopefully this can provide value to some people, and also inspire others and motivate them too!
If anyone has any questions, and suggestions please chime in, it's pretty late right now where i am so apologies for the typos!
- when coming up with your business ideas, i begin with asking the question " who can i provide a $1000 of value to in a week" This was my goal, to get a 1K/ week
- i looked at sites like tech crunch, maskable,flippa etc, to see other SUCCESSFUL businesses that i could replicate and try to improve upon
- i tried to define a single person that i was trying to target, writing out what are their current fears and frustrations etc and how my business acts to solve it...
- after finding an idea, i'll google the idea and see what comes up. If there are other businesses that are doing similar things, thats a GOOD SIGN. i'll also look to see if the are running adwords, because this proves that they are making money!
- i'll have a look at them and see if i can improve upon them and 'brand it' myself abit better
- if i think i can improve upon it, i'll run with that and get onto the next phase
Building the business:
- in this phase i need a website, and the actual product or service i am providing:
- website: straight to either /elance/freelancer, i've built my websites using templates, and getting them customised. the complete website costs about $70-150. and you can do this too!
- the key about websites, is that you have to understand BRANDING, this is a HUGE TOPIC, so i won't get into detail about it. But make sure that when you build your website, it has PERSONALITY, this sort of leaks into marketing, but people don't buy products/services, they BUY YOU, they buy from people they like, and your website represents you!
- with the actual product/service, same thing, straight onto the outsourcing websites, posting up an ad as if i was a client, and see what the outsourcers have to say.
- from here you gather the responses of how much it will cost to build or provide your product and service, and all the ins and outs of it
- after you've got a rough idea of how much it'll cost to build your product/service, and you can set a reasonable price for it, your good to go!
- with marketing there is basically online marketing and offline marketing, it is very important to START WITH OFFLINE MARKETING
- heres the hard part, and it's not sexy, but you have to get out into the real world, try find 10 potential client and pitch it to them. this way you can find out more about your customers fears and frustrations and you can also tweak your product/service
- if there are any changes go back to your outsourcers and tweak it
- once you've made at least one sale offline, you've validated your business idea (for free as well WOO)) get a testimonial/case study, throw it up on your website, and begin online marketing
- online marketing: i won't get into this, theres billions of stuff out there, but basically do some adwords, set up some affiliates, do some on page seo, and learn about seo… this is a huge topic so i won't get into it here, and i'm sure you can figure the rest out, and there are many more experts on this topic here that know more about it than i do :)
- theres tonnes of info out there on this, but basically you can hire a virtual assistant to follow up on emails, send briefs to outsourcers, etc and all of that for a few hundred dollars a month. If you need info, read the four hour work week by Tim Ferriss, and i'm sure theres lots of info out there.. this part isn't hard…
This is a VERY BRIEF outline of how i managed to build several freedom online business. Theres a lot that i didn't go into such as getting a meeting, speaking to clients, finding the right outsourcers, branding, personality etc etc, as i mentioned this is just a skeleton and the phases that i go through to build a business. This is not 'passive income' and it does require some work :)
If you want to know more, or have any questions, just fire away and ask me anything
Also, check out my success story here for more info on how i did and YOU CAN TOO! :)
my freedom business success story