There are so many opportunities. So many ways to approach the self-employment model.
Using observation, you need to identify what works for you.
I am personally chasing after passive income streams.
This means I want to live in a world where I make money while doing nothing.
That’s the reality I want to live in. That’s the world I want to create.
Yes, I need to invest upfront but once invested, I can sit back and get remunerated. Set up a system where I get paid a monthly income (not based on hours worked).
Observing business models is important for this task. Weigh up different approaches and markets is key in determining which path to follow.
- Convenient retail
- Product creators
- Service providers
- Selling advertising space
- Property investors and portfolio managers
- Property developer
- Renting out of assets
- Investing in shares and unit trusts.
What are business models that can generate income that you can come up with?