Freedom as a digital entrepreneur

Are you someone who is looking for more freedom, more time with kids or are tired of your job or you want some extra income? I have been all of these.

Maybe you have start working after college and it wasn’t as you expected? Maybe you want more challenges, and to have more control over your time… Actually after college, over 10 years ago I started working in a different field than I was educated in. I have a diploma as engineer but I have never worked as one.

Something more than a regular job

I have worked in different jobs over the years, some of which I think is stimulating but I think I have always been searching for something more than a regular job. And with today’s possibilities it can be you next to become an digital entrepreneur. The tricky part is to find the right coach that are a perfect fit for you.

Make Money While Walking

John Crestani talks about Sweat Coin
John Crestani talks about Sweat Coin

I watched an interesting video from a pretty famous youtuber today, John Crestani. He got 269 000 followers. He talked about that there is an app you can download today named Sweat Coin. It tracks how far you go and then you earn cryptocurrency over time.

A way of making money in third world countries?

You don’t earn a fortune by doing this if you live in the US, and I think he said something like you probably have to wait two years before cashing out. Even if you are serious and after been walking on a regular basis. But I thought that this seem interesting (as he also mentioned) for some people in third world countries. Because there it might feed a family for a week, just walking some miles a day. I don’t know if that’s true but it seems really cool!

Forming your digital structure

What is in for this new decade?

For our young family this new decade has already brought us some fascinating new circumstances. And I wonder where all of this is coming from. Is it me or is it this structure of digital life that is constantly forming itself into new shapes and that is affecting more and more of us?

Anyway, here are three of my my biggest moments in this new decade.

  • We bought our first apartment
  • We have a 6 months old baby
  • We found many interesting paths to explore with the possibility to make us some extra income

The third point (possibility to make us some extra income)

This is the one that has really caught my mind lately. And here are some ideas we had lately:

  • What if we rent out one of our bedroom, the one that our son will get in the future but don’t have any particular use for yet?
  • Affiliate (I had never heard of this before some months earlier)
  • What if rent out our car when we are getting to Kazakhstan (my wife comes from here)
  • What is the fuzz about Amazon FBA? (same thing, FBA didn’t ring any bell for what it could mean)

I have never been so excited to explore these ideas! I mean how cool is it to buy stuff and sell it to a higher price without leaving the house and don’t even have to touch the products that you are reselling.

Lifestyle Business Ideas 2020

Laptop

When contemplating going into business for yourself, there are many business models to choose from. If you’ve got a killer idea for a new type of product, you could begin a manufacturing startup to churn out this new gadget. Starting a brick-and-mortar retail store is one of those age-old business models that pops into mind whenever you think of a traditional business. E-commerce has been a growing reality over the past couple of decades with the advent of the internet. Affiliate marketing may be something you’ve heard of even if you’re not familiar with exactly how it works. 

There has been a new trend of late in starting what is known as a lifestyle business. In a nutshell, this is a business that is set up with the idea that it will provide the income necessary to support a certain desired lifestyle while also giving you the time to live that lifestyle. This would rule out many business models, such as the aforementioned retail store, where you might be expected to regularly put in many hours a day. You can hire a manager, but if they don’t show up, you can’t be laying on a beach in Fiji and expect to get back in time. The following are some suggestions for business models that meet the needs of an entrepreneur who wants the perks of a lifestyle business.

Starting a Blog

Writing a blog
Writing a blog

A blog is an ideal lifestyle business since you can make blog posts from anywhere in the country or the world if freedom to travel is your particular lifestyle choice. The beauty of starting a blog is that it takes practically no monetary investment to get going. Online website builders are plentiful, and website hosting has never been cheaper. The main requirement for beginning a blog is your time and effort. 

Because it could take up a considerable amount of your time, you want to make sure you start it around a topic you’re passionate about. It will also be helpful if you actually know something of value or interest to people about the topic. After all, the main objective is to get enough traffic to the blog that you can start to monetize it. There are many ways to monetize a blog, and the next lifestyle business on this list of business models is one of them.

Affiliate Marketing

Exotic beach
Possible location for an Affiliate marketer

This type of business is ideal for those entrepreneurs who want to make the money they need but still live life on their terms. Basically, if you already have a website that is generating traffic, you can then place an ad with a link to a company in it. This company pays you a commission every time someone who came to their website through your link buys something.

There are a ton of companies offering affiliate marketing relationships. There are also a wide variety of products. These include affiliate marketing opportunities for electronic products, such as ebooks, and any physical product you could imagine. They also cover any conceivable topic, so you shouldn’t have trouble finding an affiliate program that has products related to the subject of your particular website or blog. 

What’s wonderful about affiliate marketing is that you don’t have to do any of the work of packing and shipping the product. You can be sitting on a beach in Maui and if someone clicks on your blog’s affiliate link and buys something from the company’s website, you can just keep chilling out and enjoying the sun and sand. This is something in common with the next lifestyle business on this list.

Getting Your Piece of the Action on Amazon

Amazon shipping
Products on their way to a FBA center

To say that Amazon is a giant in the world of e-commerce is an understatement of biblical proportions. It accounts for approximately 50 percent of all online sales today. This is a fact dreaded by many large brick-and-mortar retailers who are struggling to compete online and through their stores against such a juggernaut. Amazon is proving too much of a challenge for the older business models of some of these companies.

Fortunately, while Amazon’s dominance is the stuff of nightmares for their large competitors, it represents an excellent opportunity for those starting a lifestyle business. For a long time, Amazon would not have been ideal for a list of recommended business models for a lifestyle type of business. This changed soon after they launched their Fulfillment By Amazon (FBA) service in 2006. 

With FBA, you simply send Amazon whatever products you place ads for on Amazon’s website, and then they handle the picking, packing and shipping of each product every time someone orders one. In this sense, they act like your drop shipper. Only it’s better than that since their website gets almost infinitely more traffic than any site you would set up to sell products on from another dropshipping company. You just place ads for the products, and then they do all the heavy lifting, so you can be wherever you want enjoying your life.

Do Freelance Work

Freelance worker
Freelancer

Do you have a unique skill? Have you accumulated valuable work experience in a particular field? Going into freelancing can be a way to monetize this while opening up the rest of your time to live your life on your terms. There are plenty of online ways to put this business idea to work, so you don’t even have to leave your home if you don’t wish.

If you have an artistic bent, you could offer your talent as a graphic designer, illustrator, or logo designer on a freelance basis to those who need it. Do you have a particularly good speaking voice? Voiceover acting or narration jobs may be a possibility. Does writing come easily to you? Online content writing may be something you should look into. There are plenty of websites where freelancers can advertise their talent and experience to get more work. 

Get Into E-Commerce

Selling products online through your own e-commerce website is another lifestyle business idea that many people have pursued for a living. The world is your oyster as far as the surreal variety of products out there that can be sourced from wholesalers for you to turn around and resell online. You can also sell products online through online marketplaces such as eBay or Amazon whether you use their FBA program or not.

Your own e-commerce website is not as ideal for being able to completely get away when compared to an affiliate marketing business, a blog or utilizing Amazon’s FBA program. To enhance the independence of this type of business, you can also place affiliate marketing ads on your e-commerce website to complement your income. That being said, e-commerce, in addition to all the other ideas here are still preferable to a 9-to-5 job with a manager looking over your shoulder while you’re making someone else wealthy.