Starting Business Two of Ten

2Continuing on from the motivation that I got from Tim Ferriss’ book “4 hour work week” it’s time to have a second go at creating a muse for passive income.

My previous attempt was to create a theoretical e-book/software combo and market and sell it online using Google Ads to drive traffic. The site never landed me any sales, but I did manage to learn a lot from the process.

As I stated in an earlier post, I’m using auto deductions from my bank account to force me to save money to continue to start businesses. Now I’m ready to have a second go at starting an online business.

Similar to my last attempt, I’m giving myself 1 week to develop an idea, another week to develop the website and any sales/marketing required, then a final week to run a test to see if it will work out.

The main goal for this attempt is to create a profitable business. But the secondary goal is to do something out of my comfort zone and experience another side of doing business so that I can grow and learn. I’m considering contracting out some work, and using a site like elance.com to find someone and get some experience delegating work.

As for an idea, I have a few things in mind but none of them are exactly perfect for generating passive income. I’m giving myself until Monday July 23rd to think of an idea worth pursuing. Then by the end of the month I will have a website up and running.