Last night I asked my husband if he wanted to get up in the morning and go to Starbucks with me for their “free pastry” day. I mentioned how we could bring our laptops and get through our morning round of answering email while we were there. I mentioned I would also enjoy getting to work away from home for a change of pace. He said that sounded good.
This morning we got up to his business phone ringing (as usual) and he went straight into his “work” mode of scrambling from customer to customer … as I went on to “doll up” and get ready to leave the house. Hmmm … no mention of our trip to Starbucks. I went on to print out the free pastry coupon and he got dressed and closed his computer. “Yes, this is going to be fun” I thought to myself. Then he looked over and said, “Baby, why are you packing up your computer?” Uhhhhh … “I thought we were going to work while we were there?” Him, “I don’t have time for that now. I have to get right back and pack boxes … but we can go get you your free pastry.”
OK … we’ll pass on the marital “discussion” that went along with this scenario but I will say this. I am so happy that I have the type of business that I have. One that doesn’t require me to be at any one place at any given time … and it’s by DESIGN … not by accident BTW!
Yes, Ken does make more money than I do but he started his business many years ago and the money wasn’t always there for the hard work he put in. That hard work for little pay is an investment you will have to put in for most any business model. But the part I want to take a look at is the workload and flexibility once you are established.
Trading Time For Money
The busier and more successful Ken becomes financially … the more hours he puts in and the more of a burden it is to him (us I guess LOL). He has a seasonal business (water sports industry) so summers are complete madness for our family. In fact, he’s so busy that he rarely has time to enjoy his passion, wakeboarding, which was the very reason he started his business. I call this scenario “trading time for money” and I want NO part of it. LOL
I, by design, look for business models that once I’ve put in the initial “grunt work” in the beginning and the business takes off … the less I have to work and the more money I make. That means I want businesses where I never have to pack or ship anything (that requires me to be somewhere – no thanks!) and where I’m not “expected” to be available certain times on certain days.
So for me I look for businesses that have some or all of the following:
- I can work from anywhere in the world
- I can work at it any time of day … any day of the week
- I don’t have to pack or ship anything (no tangible products)
- I refer business/sales and someone else does the packing and shipping
- It has a residual income stream (sell once and continue getting paid)
Blogging
Blogging meets most of these criteria as long as I keep the list in mind. I can make money through affiliate links, through pay per click, through click per action offers, through direct sales of ads (so long as I automate that – or else I have to be available to customers), and through site reviews (again … as long as I spell out when I’m available to do those). Through this blog I have had a lot of people offer to pay me to help them with their online businesses … and although that’s a tempting business model (to get paid for sharing the years and years of experience and knowledge I’ve worked hard to gain) … it’s still trading time for money right? I will do it on a case by case basis but it’s not a model I want to grow over the years.
Niche Stores/BANS
My niche stores meet the criteria … even more so than the blog format. Send over the affiliate/referral sales via the interent … can be done anytime … from anywhere … nothing to pack or ship … perfect!
Membership Sites
Membership sites work for this model too … as long as they don’t require a lot of time adding content … or at least as long as the content isn’t on a rigid schedule. For instance, if the membership includes new content/lessons every Monday … I would make sure they can be automatically uploaded … as opposed to a live webinar every Monday which would require me to be there at a certain time. See the difference?
Subscription Based Newsletter
One of my online businesses (Freelance Daily) does not completely fit my business model so eventually I will either have to find someone I trust to run the business for me or I will sell it. It is a daily job source newsletter for freelance writers. Writers pay me a monthly or yearly fee to receive the new job leads every day. This requires work 5 nights a week and DOES NOT fit with my ideal business model. I’ve hired someone to do this part of the work for me so I’m covered for now … but I handle all of the administrative duties and sometimes those are time sensitive. There are also some aspects of the business that are not automated correctly so I’m re-examining them now to see how I can streamline. Now … because I’ve built a customer base and a name for myself in that industry … I’d be smart to find other ways to monetize that business … but the new ideas must fit my “list.”
My WAHM Membership/Database Site
I also have my WAHM 2 WAHM business (a way for work at home moms – WAHMs – to look for and promote direct sales businesses) and it’s set up according to my model. It’s fully automated and all I have to do is to promote it. I do want to get an affiliate program set up so that others can go out and promote it for me too … sounds good right?
So … I’m at Starbucks alone *sigh* “working” while my husband is stressed out and packing boxes in the muggy heat (we’ve had over 30 days of triple digit heat this summer – so far) and then he’ll be off to the post office sweating his ass off there too. I TOTALLY appreciate how hard he works for us … I truly DO … but by design I’ll keep looking for ways to make money via my ideal business model (in fact, I’m even an affiliate for his company now LOL). *SmiLes* Suzanne
P.S. My hot chocolate and (free) lemon pound cake were awesome!
Do you have a business model for yourself? Do you agree with how I feel about trading time for money? Have you been able to stick to your own “list”? Do you have any helpful advice for me and for others? Let us hear from you …
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Hi … My name is Suzanne Franco (Land) and I’m a wife (newlywed actually) and mother to 5 amazing kids (my 3 and his 2 – ages 9 to 16) and we live in the Texas Hill Country where we try to spend a lot of time in the water (river, boating, wakeboarding, the beach, etc.) and running from one kid’s sporting event to the other (mainly football, cheerleading, and soccer).
{ 22 comments… read them below or add one }
I try to reach that perfect and delicate work-life balance and, happily for me, I’m usually able to manage both my work and personal life well. I work in an office and have to do “sitting hours” but I try to unplug myself from the office as soon as I’m out of there. The fact that I enjoy my job and like what I do helps me to concentrate in my office work to be able to enjoy myself later without any remorse.
.-= Anne´s last blog ..Panama Canal Fishing – Peacock Bass =-.
Loving what you do is such a rare thing … I’m so happy for you!
Hey there Suzanne,
Thanks for the informative article. I’ve managed to think a little about what category I seem to be falling into. At PaidScribe.com its all about my time in exchange for money. Perhaps that’s not the ideal situation but I think with time it also becomes less and less demanding of me. Eventually, outsourcing would be ideal and editing would be my job. At some point trusting someone with the responsibility of editing would free up time.
On the other hand, I’m working on a few sites at the moment to put my SEO skills to good use. In that type of business very little time is used up to build a site, SEO it, keep it fresh, and eventually the money just rolls in!
Of course, the first few months I would literally just be trying to make a name for the site. In my business, content is important, keeping it fresh, key. So I guess eventually outsourcing for writers would be my only worry (Sounds good huh?). Hmmm.
Anyways, great post! I forgot to print the coupon so I couldn’t get the free pastry, bleh!
Respectfully,
Tony Tovar
Seo Writer
.-= SEO Writer´s last blog ..Blogger Success without SEO! =-.
Sounds like a great plan to me! With a writing business … you can always find others to outsource to … and the same with editing. You run the business side and and keep finding new business … and take your cut as the owner.
As for the pastry … I live in a very small town and people were coming in and showing their Blackberry and they honored the coupon … What a great marketing idea … a huge response simply through social networking and getting it to go viral.
Twitter: angienewton
July 21, 2009 at 5:31 pm
I agree, I definitely want to have the type of businesses you describe. Hubby and I have been taking on some web design clients on a case by case basis and I can already tell it’s not something I would want to do long term.
Glad you were still able to get your Starbucks goodies. I didn’t go out today except to drop a friend off somewhere so no yummies for me.
.-= Angie (Losing It and Loving It)´s last blog ..30 Day Shred: Level 3 Day 1 =-.
It’s very common to “want” a certain business … then to get some success and see that it’s not totally what you had in mind
We do what we need to do to get the bills paid … but it’s good to know exactly what we want (and don’t want) by design and to keep moving in that direction.
Yes, the goodies were very good … I don’t do that very often so it was a bit of a treat for me.
What up girly! It’s a good thing we don’t have a starbucks here in “mayberry” haha I’d be all over it every morning.. sad that I live in a town that doesn’t even have a starbucks huh?
In the “corporate” world, I hear all the time about getting promotions and how nice it would be to be a boss etc etc… but in all honesty, in that world I’d much rather leave the job there when I leave… more pay = more headache! At least at my place of employment!
That’s the great thing about the world of Internet Marketing… yes you have work you have to put in it, but as you and I both have learned, when you lay the ground work right and do it right from the beginning, the rest comes much easier! And isn’t it sweeeeeeeet to be able to do just as you said, work from anywhere, never have to handle a package or worry about deadlines, but yet get paid while we sleep
Good post!
.-= Jake´s last blog ..Build a Niche Store Guide Contest – Free Website! =-.
Yes, I live in a small town and I remember thinking oh s%$# we’re getting a Starbucks?! Getting too crowded here! I don’t drink coffee but I love their hot chocolate …
Getting to leave your “job” at work when you leave is nice … and you’re right … not worth the trade off (usually).
I don’t mind the long hours in the beginning of an online business … knowing that it will definitely pay off big some day! *huGs*
Couldn’t have agreed more, Suzanne! I used to tell my spouse that I work 18 hours today and spend 2 hours with her so that in future, I could spent 18 hours of my day with her (*if she wanted…LOL) and work 2 hours a day. Yes, from Starbuck! That’s how I envision myself – by design.
Yan
.-= Blogging Tips´s last blog ..TSB Gone Thesis =-.
Hey Yan ~ Great to hear from you
My husband works very long hours too … and I really appreciate how hard he works for us … but I do want to look forward to a great future … relaxing and enjoying the benefits of the hard work. I know you’ll do it! You’re awesome! The Thesis looks great … I’ll check in to see what else you do to the site … good work.
Very interesting thoughts, indeed. I must admit, that they stirred something inside me. Such business model do give you an independence from many things.
Same … I’m so glad to have you on the blog! It’s nice to know the post stirred you … just map out exactly how you want your life … and then work towards it. Independence is something to really works towards … right?
I completely follow you Suzanne. I do think that it is important for people reading this to understand that this is not about NOT working but rather about working within a flexible schedule. No matter if you build BANS or minisites or what ever they will still require some work and especially if you are going to do everything yourself.
Yes some of it will run on its own for a while but they are not going to run forever if left untouched.
That is also why I believe it is very important to think of a way to get other people to run your business for you. Make a plan right from the beginning to have other people do the work. That will keep everything structured and you will constantly be thinking of automation (which is a good thing).
Mikael
.-= Mikael @ Retire Early´s last blog ..Stop Product Jumping If You Hate Starting Over =-.
yes … hiring writers and virtual assistants and such will definitely help with that … and looking for the most automated type of businesses as possible.
i think design is important as to attract our visitors and to come back whether it b a blog or a website. i liked the things shared here by u frd. ur writing style and more are very helpful
.-= Custom term paper´s last blog ..Un astudentessa racconta la propria preparazione agli esami universitari a Bari =-.
Making your business the way you want it by design is a great way to earn and enjoy doing business. what can you recommend about it?
Hi Suzanne,
I guess it’s never too late to start. I completely agree with your points about the “ideal business”, which is my goal for the future. I also plan to try to teach my kids to think this way.
Great post! I just wish I’d thought more about this twenty years ago.
I guess another way to put it is to envision the kind of life you want to live, and then build a business to support that way of life. Great, great post! ~ steve, the working-too-hard trade show displays guru
.-= trade show displays guru´s last blog ..Blogging Best Practices =-.
Hey Steve! I too wish I’d known this 20 years ago LOL … but we do NOW … and I’m glad to hear you say you will teach this to your kids … my dad is the one who taught me this idea … a few years ago when I had a house fire and I was looking for a business to purchase … dad went over this criteria with me LOL I missed the “list” by a little bit with the FD newsletter … but since then I’ve been more in touch with my desires in a business model and I’ll keep refining it. *SmiLes* Great to hear from … hope you’re well
Hi Suzanne,
I think the freedom of movement, time & passive income are also strong motivations for me to work on similar projects. I guess, freedom is of highest significance as far as I am concerned. What is your priority no. 1 from the list mentioned above?
.-= Chris Peterson´s last blog ..Follow Your Passion, Your Dreams! =-.
Hi Chris ~ I completely agree with your thinking! Freedom is definitely number one for me too. I love not being tied to a desk (or to anything) for any specified time frame. It’s awesome! *SmiLes* Suzanne
P.S. Really enjoyed your post about following your passion!
Nice content. I’m really a fan of the idea of passive/residual income. And this shows it to me. Keep on helping others. You’re a blessing.
You’re so lucky that you have already reached that point many bloggers are still aspiring to attain. “Designing’ your business, as well as your life, is all up to the person really. Fortunately today, there are hundreds of online home business opportunities available. This should allow anyone to ‘design’ their life.