Will Your Location Independent Business Idea Make You Enough Money?
Image by HKmPUA
How often does an idea for a business pop into your head but you’re just not sure whether it’d be popular or whether it would make you enough money to support a nomadic, location independent lifestyle?
Did you know that there is a tried & tested method of figuring this out - which is slightly more scientific than basing your business on a gut feeling?
It’s not a fancy new tool or whizz bang online app, it’s the good old spreadsheet-based business model.
But before your eyes glaze over (as mine often do when faced with rows and rows of dullardio numbers), here’s what building a business model can tell you about your idea:
- Whether it is ever likely to make you enough money
- What your earnings targets are - and whether it’s realistic to be able to hit them or not
- How much setting up & running the business is going to cost you now & in the future
- Whether it’s worth your time, effort & financial investment in the short, medium & long term
Sound good? Here’s what you do…
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A Post About Lifestyle Design With Some Nuggets Of Wisdom (I Hope)
Image by krandolph.
I have a confession to make…I’ve run out of draft posts that are ready for publishing - actually there are plenty, I just don’t feel inspired enough by any of them to publish them - so this post is off-the-cuff, written on Sunday evening here in a very rainy Cape Town (no, I am not happy about that).
In this post, I’ll share my latest thoughts on the concepts of location independent living (as we approach the 18 month anniversary of living our chosen ‘ideal’ life) and lifestyle design…
The PW 5 Step Process To Identifying A Business You’re Passionate About (And That You Can Run From Anywhere)
Photo by I, Timmy
Running a company that provides business strategy & mentoring, I frequently get questions like this:
- What sort of business should I set up?
- How do I set up a business without much income?
- How can I earn an income whilst being location independent?
I’m a big believer in running a business doing something you enjoy and believe in, not just for the sake of earning money (if I wanted to do that, I’d have stayed in the corporate world as a management consultant).
But I hesitated to write this post because I wasn’t immediately sure I could break it down in a way that would be realistic and achievable for most people. However I figured it was worth a try since somebody might get some value out of it and, as usual, my ethos for blogging is that it’s better out of my head where it might help someone, than in, where it most definitely won’t help anyone!
So I’m about to describe a process which has enabled me to set up a business, attract paying clients and earn a decent income in less than 6 months doing something I enjoy…not once but three times:
Read the rest of this entry »
Twitter Length Answers To Common Location Independent Questions
These are common questions we frequently ask ourselves (and are asked) as we gad about the globe and live the working nomad, location independent lifestyle.
As we’re both pushed for time at the moment (lots of new business projects at Project Woodward HQ plus my ‘other’ job here in South Africa), rather than write long, in-depth answers to each question, we’ve gone Twitter-style…140 character responses for each answer.
If you want us to elaborate, leave a comment and feel free to leave your answers in the comments too…
