Business Passive Income

When I got my first paycheck of $1700 before deductions ($1300+ after deductions), I knew I had to learn to make more. Earning that amount, though not bad, it wasnt good enough for me to take care of myself, much less afford having a family and luxury.

So the first thing is to learn to earn more, and ideally, build income streams that are more automatic ala business passive income.

My #1 recommendation: Start an online business

person using MacBook Pro

This is at the very top of my business passive income list for so, so many reasons:

  1. do it as-when based on your available free time and energy…which means you can do it outside your day job (keep your day job so that you have roof over your head and comforts to keep you going)
  2. not limited to a geographic space like a city or country
  3. low start up cost (as low as $100-$400/year to start) means very high profit margins…as compared to traditional brick and mortar businesses
  4. it’s tech-based: 99.9% uptime online, and can scale with technology and better still, it can serve a LOT more people than me doing one-to-one (or one-to-ten!)
  5. a way to meet and make new friends, connections and relationships
  6. you can scale with tech without hiring employees (or hire later as you grow)
  7. multiple sources and streams of income selling other people’s products (you can create your own products too later)
  8. build a meaningful business that you can help your clients with
  9. a learnable skill you can teach to your loved ones…and do more online businesses if you want to
  10. online businesses can be sold for 30-50x of their monthly profits if you wish to sell

Examples of online businesses

  1. Publishing sites such as blogs, websites and online magazines
  2. e-commerce businesses powered by shopify, etsy
  3. ebooks and kindle books
  4. Teaching courses
  5. Etc

Learn how to build an online business

I have used (and still use) these two different platforms to build online business as well as to market my offline business.

Wealthy Affiliate (Review)

Wealthy Affiliate, or WA for short, uses mainly WordPress for their sites.

WordPress is a very popular content management system (CMS), that powers roughly 25% of the world’s website, and they have a whole host of upsides such as cost-friendly, very versatile and with some downsides – read the review for more information

wealthy affiliate

Solo Build It (Review & Walkthrough)

Solo Build It (SBI) is a non-WordPress, proprietary software that I used to build my offline business websites, and they have helped me consistently get leads and clients there (average 7-10% of group sales).

It’s for this reason that I happily and ethically recommend SBI again and again, because it has worked for me, not on just one site/business, but on two. Read the review and walk through above to find out more

My comparison between Wealthy Affiliate and Solo Build It here.

I dont know what niche or topic to do!

Everyone knows something that someone else wants to learn from, including people wanting to learn something from you.

You may be surprised, but we all do this – we all know something we’d like to learn from someone else that we’re impressed with. At the same time, we know people who ask us regularly for a particular topic.

Maybe it’s

  • teaching your dog tricks…including to use human toilet bowl
  • or how to smoke meats beautifully
  • teaching your baby to be nappy free as early as possible
  • create blueprints that you can sell, such as tiny homes, garden sheds and even knitting
  • stock or crypto investing, staking and trading
  • etc

Articles on making money online

I love my offline business (my first physical therapy business was acquired back in 2014; and now I’m involved in Phoenix Rehab) where I help my therapists earn a good revenue-sharing living treating patients with sports and orthopedic conditions. I’m very proud of my offline business and team, and I know I’ll be serving my therapists and patients and doctors for a very long time to come.

Next best thing: Physical businesses that can scale

two men in ladder on wall

These are the most common businesses that you can and should consider where typically

  • the market is growing
  • cost and risks are low
  • competition isnt super saturated
  • you can start small
  • you can learn
  • current competitors not high tech / savvy

The more specialized you get, the better your profit margins and higher chances of success.

These are not commodity markets, so that means that you can always value-add and not compete on price. There are always customers who are willing to pay for better services as well as speed (especially speed). Service providers are always in demand, especially good and fast ones…who can charge an even higher mark up and profit margins.

Aka the odds are likely good that you can win

Physical business goal: good profits margins which you can either use to hire (passive business income) or invest for passive income (investment passive income).

Home services:

  • Lawn mowing / trimming / landscaping
  • Pest control
  • Firewood delivery
  • Residential Painting
  • Pressure washing / concrete cleaning
  • Thermal imaging – utility saving
  • Vacation rental management
  • Custom closet build-outs
  • Mobile car detailing /washing
  • Mobile car mechanic
  • Window cleaning
  • Tree trimming / arborist
  • On demand irrigation
  • Green home consultation
  • On demand holiday decorations
  • Pool / hot tub services
  • Deck staining
  • Gutter Cleaning
  • Maid services
  • Laundry services
  • Carpet cleaning / steaming
  • Deep kitchen cleaning
  • HVAC system cleaning
  • Chimney cleaning
  • Graffiti removal
  • Mold removal
  • Water damage remediation
  • Fire damage remediation
  • Home deodorization / perfuming
  • Interior painting
  • Exterior painting
  • Trim staining
  • Interior design
  • Home office build out
  • Countertop epoxy design
  • Epoxy flooring
  • Custom furniture refinishing
  • Mirror installation
  • Custom lighting installation
  • Custom wallpaper installation
  • Garage door service / installation
  • Gate and keypad entry installation
  • Cabinet making / refurbishing
  • Aquarium installation
  • Secure package delivery box installation
  • Pet grooming
  • Pet care / walking / boarding
  • Dog underground fence installation
  • Trophy animal mounting
  • Private investigating
  • Manned home security services
  • Limo / transportation services
  • Moving/Hauling
  • Smart home Installation
  • Hot tub wiring / installation
  • Privacy fence installation
  • Decorative retaining wall design / build
  • Security installation
  • Solar panel installation
  • Putting green installation
  • Home cinema installation
  • Irrigation system installation
  • Acoustic insulation installation
  • Lighting rod installation
  • Awning installation
  • Pool safety alarm installation
  • Storm shutter installation
  • Foundation repair
  • Hurricane prep service
  • Septic service / pumping
  • Boat cleaning
  • Boat shrink wrapping
  • Boat repair/maintenance
  • RV / boat winterizing
  • RV cleaning
  • RV pickup/delivery
  • Home appliance repair
  • Golf cart service / repair

Vehicle Services

  • Mobile oil change
  • Mobile tire sales/service
  • Mobile glass repair
  • Mobile mechanic
  • Mobile dent repair (paintless)
  • Mobile decal and wrap services
  • Locksmith

Event/Seasonal services:

  • Off premise bartending
  • Catering
  • Specialty food trucks (keep it simple and very fast)
  • Event DJ
  • Event management
  • Photography
  • Videography (wedding or corporate)
  • Photo booth rental
  • Porta Potty rental
  • Tents/Party rental
  • On demand cleanup crews
  • On demand junk removal / hauling
  • Casino tables and dealer rentals for events

Entertainment:

  • Hunting guides
  • Hiking tours
  • Biking tours
  • Event management
  • Party rentals

Personal care:

  • Mobile haircuts
  • Mobile makeup
  • Mobile hair styling
  • Mobile massage
  • Mobile Pedicure / Nails

Training / Coaching / Consulting

  • Hunting dog training
  • Domestic pet training
  • Special needs pet training
  • High end athletic coaching / training
  • Remote athletic coaching
  • College acceptance consultation
  • Credit repair consulting
  • Personal style consulting

Trades/construction:

  • Electrical
  • Plumbing
  • Carpenter
  • General Contractor
  • Heating and air HVAC
  • Civil engineering
  • Structural engineering
  • Architecture
  • Asphalt / Concrete
  • Door/Window installation
  • Painting
  • Bridge Painting
  • Masonry
  • Carpet/Flooring installation/refinishing
  • Ceramic Tile installation
  • Fence installation
  • Auger Boring
  • Surveying
  • Septic tank install and service
  • Insulation installing (spray and standard)
  • Elevator installation and service
  • Asbestos removal
  • Welding
  • Warehouse storage rack installation
  • Roofing
  • Siding
  • Epoxy flooring / counter tops
  • Fire sprinkler system installer / detector installation
  • Excavation
  • Equipment operation
  • Pipe fitting

Business Services

  • Videography
  • Drone Pilot
  • Customer service
  • Bookkeeping
  • Mobile Headshots
  • Cleaning
  • Bartending/Catering
  • Mobile fencing for festivals or construction sites
  • Porta potty rentals
  • Dumpster rental services
  • Junk removal
  • Training video creation
  • Liquidation services
  • Furniture building (dorm, office, hospital, hotel, etc)
  • Slushy machine servicing
  • Parking lot power cleaning

Real estate transactions:

  • Home inspection / thermal imaging (utility analysis)
  • Realtor
  • Moving services
  • Appraiser
  • Loan officer
  • Property manager
  • Vacation rental management
  • House staging

Retail / Hospitality

  • Simple and efficient food trucks
  • Mobile retail pop ups
  • Mobile brick and mortar (any brick and mortar business, except mobile)
  • Linen washing
  • Beer line cleaning / keg tap services
  • Deep cleaning restaurants

Niche carpentry:

  • Building gun safes into walls
  • Closet build out
  • Home bar building
  • Egress window framing/installation
  • Home office build out
  • Wine cellar building
  • Sauna Building
  • Steam shower installation
  • Hidden safes and secret entry construction
  • Cubical building
  • Patio building
  • Fence building
  • Dock building
  • Fireplace building
  • Cistern / water gatherer installation
  • Home sound room or studio build
  • Home stairlift installation
  • Urban farming systems
  • Custom beekeeping builds

Quick-and-easy side hustle that cannot scale

man riding a bicycle

I dont recommend these as they typically cant scale, and are moreso for quick and easy extra pocket money, think:

  1. Delivering stuff such as
    1. Food: GrabFood, FoodPanda, UberEats
    2. Parcels: uParcels
    3. Bigger items: LalaMove
    4. People: Uber, Grab, Lyft
    5. Groceries: Grab
  2. Hosting with AirBNB
  3. Rent out your room, space, garage, shed, car
  4. Do errands, chores and odd-jobs
  5. Pet and baby sitting
  6. Sell your plasma legally

Businesses that I DON’T recommend

red and white stop road sign

I dont recommend businesses that have a lot of passionate people involved. The more passionate, the more unnecessary drama, poor decision making, self-centered ie selfish reasons rather than real market needs.

I dont like playing or competing with large companies. Think Lazada, Amazon, Taobao and similar marketplaces with SO MANY COMPETITORS.

I dont like competing with manufacturers and countries that produce like mad.

I dont like to compete with super smart people with crazy degrees or businesses that are funded from VCs.

I dont like needing a crazy unicorn idea that requires me to train customers from scratch.

Aka I dont like it when the odds are against you or me.

These are not recommended unless…you’re either super passionate, able to make lots and have lots of time and funds

Tech / Online

  • Blockchain
  • Online influencing (Instagram, Facebook, Youtube etc)
  • Dropshipping
  • Amazon selling
  • Apparel selling
  • Online sales in general
  • Health / Diet / Fitness blogging
  • Software development
  • Social media app creation
  • Scalable digital services
  • Lead generation
  • Web / App development
  • Logo design

Personal:

  • Health coaching
  • Diet coaching
  • Personal training
  • Crossfit studios
  • Yoga studios

Hospitality including F&B

  • Restaurants (except specialty fast food and high end dining)
  • Bars
  • Bakeries
  • Coffee Shops

Real estate

  • House flipping
  • Home/apartment rentals (still good opportunities but be careful because it is highly competitive and in the largest cities a lot of foreign investment is driving up real estate to levels that are not feasible).

Event management

  • Concert promotion
  • Music production

Retail / Any brick and all brick and mortar but especially:

  • Bike shops
  • Shoe stores
  • Any boutiques

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