Going out on your own: Pursuing the Passion 41, 42 & 43
February 17th, 2010#41: Sell products with low (or no) variable cost
Aim to build products that you can sell with no extra cost per unit, if you can write some ultra niche ebooks, provide some training materials, videos, the cost of selling an extra copy is nill. It is so refreshing to wake up and find you have supplemented your income with no additional effort.
#42: Implement Investing Ethos
Take a portfolio approach to your clients, have some casual month to month steady income clients, some mid risk clients (risk as in non consistent cashflow) and high risk. My magic number is 7, I can have 7 projects total being worked on, in the works, or wrapping up. Often it is 2 steady income, 2 ‘projects’ or semi risk and 3 in the works. (My rough rule of thumb) Depending on your type of business you may need to have less.
#43: Upskill
Upskill yourself constantly and share your new skills (hint heres where a blog comes in handy).
Tags: going out on your own pursuing the passion
This entry was posted on Wednesday, February 17th, 2010 at 9:27 pm. 