Are you in the process of deciding the best business for you to start? Are you looking for a lifestyle that fulfils your dreams and your family’s aspirations?
We are living in the most exciting time in human history. Thanks to affordable digital technology and easy access to the internet anyone can create a laptop business, and things are getting better and better. You now have the facility to live the lifestyle you aspire while building a business.
So how would you go about building a lifestyle business? The following are the three most common business models for designing a life of your dreams in 2018. Have a look at these business models and choose the one that best fits your vision.
What is a Lifestyle Entrepreneurship?
When I started working as a Bilingual Secretary in Mexico, my employer set his schedule. I had to arrive at 9 am, but on countless occasions, he came after 5 pm, practically my working day started after office hours. I had very little say on how I spent my time from the moment I clock in until the moment I clock out.
I could only take ten days sick leave and one or two weeks a year for holidays. And it very much depended on not overlapping with my employer’s plans or with anyone else’s holiday time.
Can you relate? Nobody wants to live a robotic lifestyle. If you had a choice, how would your ideal lifestyle look? Would you choose something more appealing to you and your family?
A lifestyle business is designed to maximise the time and financial freedom by using technology and setting up systems that allow you to work from home based on your own schedule. It requires a lot of commitment and perseverance to be a successful entrepreneur, but you will have full control of your life.
If you have entrepreneurial aspiration, take a look at the three basic business models: Affiliate Marketing, Amazon FBA and Freelancing and see which of these might work well for you.
1. AFFILIATE MARKETING
Affiliate Marketing is the process by which an affiliate promotes products of another person or company’s products to make a commission by referring readers of visitors to that particular product or service through your website, your email list and social media channels.
This particular model can provide you with a lifestyle of freedom, the flexibility to work from anywhere you desire and work the hours you choose.
You can set up your own business very quickly and begin promoting those products. No need to invest in manufacturing, design, research and development, purchase inventory or ship products yourself. You don’t have to deal with customer service, disputes or returns. The initial investment to join as an affiliate marketer is usually low.
You only have to choose a reputable Affiliate Marketing program with excellent products and services, and you begin promoting those goods through your blog when people link through your affiliate link and make a purchase you get a commission.
If you want to learn more about how to start a profitable online business, check out this free webinar
2. AMAZON FBA
Amazon FBA is an e-commerce platform. FBA is an acronym that stands for Fulfilled by Amazon. With Amazon FBA you need to create your own products or at least purchase them through manufacturers or wholesalers.
You are responsible for delivering your inventory to Amazon’s warehouses, and you have to pay based on how much stock they store for you and how long they have to store it. Amazon also charges a monthly fee for the privilege of having an Amazon selling account.
However, under the Amazon FBA model, once a seller has sent in their inventory, literally, everything is left up to Amazon. Amazon assumes total responsibility for the product from that point onward.
Using the Amazon fulfilment network and getting the “Fulfilment by Amazon” logo next to your items can go a long way with customers, increase your credibility by leveraging the Amazon brand and provide customers with a reason to trust you.
There are some strict rules that Amazon requires for its FBA participants to follow, it is essential to make sure you do not violate any of their policies, or there is a risk of getting your account shut down. Most of these are common sense rules, but make sure that you read over all of their terms of service carefully to avoid any problems.
One of the most significant advantages of working independently as a freelancer is achieving the freedom of being your own boss and moving away from any restrictions.
It is probably the easiest of these three. If you have skills that other people are willing to pay for, then you can make a good standard of living as a freelancer. It requires a minimal start-up cost, and you are free to choose the location of work. You still work for a client or multiple clients, but you have a lot of flexibility about how you run your business.
There are all kinds of freelance opportunities out there. If you are a writer, an artist, a photographer, a wedding planner or a business consultant, then you can start your own business and begin freelancing within a matter of days.
Which one will it suit your lifestyle?
Each of these business models has their advantages and disadvantages. Which one appeals most to you?
Keep in mind, that like any business venture, your online income will take time to grow. You need to be willing to devote the time and energy to get your idea off the ground. Persevere even if your journey is slow when you first start.
With Affiliate Marketing once you get your system up and you start sending traffic to your landing pages, you will create a considerable passive income, allowing you to have a lot of free time to use it as you wish. For many entrepreneurs, this business model is the ideal choice, but it might take longer before you start making a full-time income compared to other business models.
For those who need active income, a different lifestyle business will be the first choice, they will probably get faster results with Freelancing or selling with Amazon.
No matter which lifestyle you begin with if you are committed, have passion and willing to do the work. You may be able to build more than one online income streams if you give it enough time.
A lifestyle business will eventually give you the time and financial freedom and gives you the facility to work anywhere you choose.
If you want more information about how to start a profitable online business, check out this free webinar.
I would love to hear your ideas and thoughts about these three business models. Please share them in the comments below.
With much appreciation
P.S. You will never know unless you try. Give it a go!