| Some options: 1. Build a product (SAAS) in a niche domain. Charge between $50-$100/Month. Get 75 customers. 2. Buy an existing SAAS in a domain that you have interest in (experience a bonus but not required). It should bring in profits of 5k/month (give or take). If the business is rock solid and at least 3 years old with a sustainable rate of revenue, then expect to pay 3X (3 years of profits) upto 5X (depends on many factors). You may even find gems for less than 3X multiplier. 3. Start a "Service" based freelance business but offer a specific skill. For example, "I will help you host wordpress sites for $x/month and fully manage it for you". Charge a flat monthly fee. Kinda like Step 1 but "service" based instead of "product" based. The trick is that you don't deviate too much from the scope otherise it will be difficult to do it as one man show and you will end up going towards a "agency" type model. 4. If you are really good at something and have the skills to create a good tutorial, start something like https://www.laracasts.com and provide solid content regularly to your subscribers. Charge a flat fee per month. All these 4 things are extremely difficult to start with BUT very possible to do. I have done #2 myself fyi and already grown it 6 times in 2 years. |