I`m a 50-something high-tech tenant cube-farmer, looking for ways to expand and enrich his life by helping other people.
I`m currently defining and implementing automated processes and tools for a translation and interpretation business. That`s a lot of software, writing, business case, personnel and project management. (Sounds a lot like small business to me.)
Just now getting my plans, passions, and talents aligned. Will soon be going out to this wonderful community for a reality check before jumping into a business plan.
Speculating on the relative value of internet domain names is tricky, requires exquisite timing, and ICAAN has already reserved to itself the right to strip domain names from people they feel are squatting or owning merely for speculative profit. Therefore, I argue that model #1 you propose is highly dicey at best.
#2 makes sense *IF* you make a site that is worth something to someone and provide a means for the end user to maintain it. But there`s lots of competition.
#3 is a lot less work, but probably less profit.
Being an entrepreneur is about exchange of value. If you want to better yourself, help a hundred people better themselves. Along the way, you will be rewarded. This is true whether you passion leads you online or retail or consulting or working for someone else. Find something you enjoy doing and start doing it. Then start helping other people experience the joy (perhaps for a fee.) Your rewards will be on earth as well as in heaven.
I must support Craig`s statement. (Also Nike`s slogan, sort of) Just do something.
I was stuck for nearly a decade trying to figure out "the thing" that would be best for me. Then I started doing little things that have nothing at all to do with business or even hobbies, but were obvious, beneficial, and fun. Next thing I knew, I was here with an idea. Nothing succeeds like personal success. I suspect our subconscious cares not whether it`s a tiny success or a huge success, just so long as we do something and finish it.
Heard a great line a couple of weeks ago: If something is worth doing, it`s worth doing wrong, at least at first. Seems to be true.
I`m sort of in that situation. I had clear agreements with my employer that gave me this freedom of action (and kept my IP out of the employer patent mill.) Now I`m looking into forming a small business to do on the side, and the employer just got bought. Do I need to renegotiate to make sure my IP and independent action rights are protected?