Become a "Carefree Entrepreneur" - and Retire With a Never-Ending Revenue Stream 12 to 24 Months From Today
What if you could retire next year? Put the stress of the daily grind behind you and start living the good life?
I have an idea about how you could do that. I call it Carefree Entrepreneurship, because … well, because you can do it in your bare feet.
The idea is simple: You spend most of your day enjoying yourself, and only a few hours on the computer – at your home or at the beach – running an Internet business based on a topic of your choice.
The key to making it work is to keep it simple. You can't run a big complicated business by working just a few hours a day. And you can't expect your "carefree" business to gross tens of millions of dollars. If you think you would be content with revenues in the $100,000 – $500,000 range, Carefree Entrepreneurship is very achievable.
"Making a million dollars is easy," MS, a young Internet entrepreneur, recently said to me. "The challenge is getting to 10 million and then 100 million – and then to do what you've done and get to500 million."
Although I don't think it's exactly "easy" to create a million-dollar business, I know what he means. For anyone who is smart and ambitious, creating an Internet business of that size is definitely a doable goal. And if you are willing to accept a somewhat smaller business – $100,000 to $500,000, as I said – you can do it in a relatively short period of time, often in 12 to 24 months.
Let me tell you how I came up with this idea. I was talking to a few of my clients recently about what their customers were saying to them. What questions were they posing? What answers were they seeking?
Their customers' primary concerns were about the economy, job security, and their retirement. They felt stressed because they were struggling to make ends meet. Despite the supposed recovery, they were feeling pinched and were worried about losing their businesses or jobs. They were getting older but they felt they might never retire.
It reminded me of SA, one of my oldest friends. He's had a successful restaurant in a small tourist town in Ohio. His wife has a good job as an executive in the same industry. But despite the government's BS about no inflation, their expenses keep going up. Meanwhile, SA's business keeps going down. SA and his wife have two children who are college bound. They once had a decent amount of money set aside for the kids' college and their own retirement, but they've had to dig into that recently.
I told him what I have been telling you for years. You can't change the external forces that affect your income. And worrying about it does absolutely no good. The only responsible thing to do is to start to generate outside income. If you are smart and have a good plan, one day your second income will be equal to or greater than the income you are relying on now. When that happens, your worries will be over.
How could SA develop a second stream of income that could replace his first? And how could he simultaneously develop a plan that would enable him to retire before he was too old to enjoy it?
I wanted to help him come up with a solution, but it wasn't an easy challenge. He was already busy with his restaurant. The second stream of income would have to be generated by a second business that he could run on a very part-time basis – an hour or two in the evenings or half-days on weekends.
There were only a few ways I knew of that he could do that. One was to become a freelance copywriter. Another was to become a freelance consultant. And the third one was to become the owner of a small but lucrative Internet business.
I'm not saying there aren't other ways to make money. There are many. But for a part-time business that could give SA the income he needed – about $175,000 a year – I knew of only those three.
I've mentored hundreds of people over the years on these three business opportunities. And I have dozens and dozens of letters from my proteges thanking me for helping them succeed. Some of them now have sizeable multimillion-dollar operations. And some have smaller, part-time businesses that generate the kind of income I'm talking about.
So I was confident one of these three vehicles would work to give SA the income he needed. But what about retiring? How could he possibly do that?
And that's when the Carefree Entrepreneur idea hit me.
If he planned his side business right – and I knew exactly how he could do that – he could eventually be generating plenty of extra income by working just a few hours a day.
While he was building his side business, he'd have to keep his day job. But in just a year or two, if he did things right, he'd be making so much "part-time" money that he could quit his day job. He could then farm out the tedious work involved in his new operation – and he'd have himself a retirement business that would give him all the income he needed for the rest of his life.
To test my hypothesis, I asked myself, "What would the perfect retirement business be like – for SA or anybody else? What would make it feel like retirement … and yet provide a steady flow of income?
Here's what I came up with:
The first requirement is about freedom: It has to be a business that makes it possible for you to have at least eight free hours every day – eight hours without any obligations. In other words, you'd be able to spend the bulk of your day doing whatever you want, even if it means doing nothing.
The second requirement is about purpose: The business has to make it possible for you to be doing something you care about. Everybody cares about something – investing, health, sports, cooking, photography, whatever. And because of the Internet, there is a market for every interest. Some of those markets comprise millions of potential buyers. Others are smaller. But they are all big enough to create a nice income.
The third requirement is about ease of entry: The business should be relatively easy to start and relatively easy to grow. Again, the Internet has made this possible. Building an Internet business is not as easy as it was 10 years ago. But it still beats brick-and-mortar businesses, hands down.
The fourth requirement is about pleasure: You should be able to work only with people you like. That applies to your customers, your vendors – and everyone else you deal with. You should also be able to do only the fun parts of the business and delegate the necessary but boring parts to someone else.
The fifth requirement is about convenience: You should be able to work the hours you choose, day or night, and from anywhere you want – even when you are traveling.
And the sixth requirement is about comfort: You should be able to work in jeans and a T-shirt or your pajamas or your bathing suit. If you want to, you should even be able to work barefoot.
That's why I decided to call this ideal business Carefree Entrepreneurship. It gives you the income you need – and, at the same time, the freedom, purpose, ease, pleasure, convenience, and comfort you expect from being retired.
If You Went Broke Tomorrow, What Would You Do?
If all of my assets and all of my money were to disappear tomorrow, this is the exactly what I would want for myself.
I'm 60 right now, and I've been working hard for more than 30 years. If I had to start over, I'd be willing to put in another year or two of hard work – but after that, I'd want to cruise.
Carefree Entrepreneurship is a program for anyone who wants or needs the same thing – enough money to live comfortably for the rest of their life, along with all the comfort, enjoyment, and ease of a perfect retirement.
A Business Model Based on Some of the Fastest-Growing Industries in the World
My clients have used this same business model to generate more than $600 million in yearly revenues. (Of course, they don't make that kind of money as part-time working retirees.)
It takes advantage of two of the most powerful industries in the world.
1. The Internet (E-commerce is a $223 billion industry in the U.S. alone, and is expected to grow to nearly $350 billion by 2014.)
2. Direct marketing – a $2 trillion industry worldwide, with about three-fourths of it in the US.
It can also tap into Information publishing, another huge industry (about a $1 trillion a year).
Let's do a quick review of the advantages of each of these industries:
Advantages of the Internet:
- Reduced the cost of production and inventory
- Has minimal storage requirements and low delivery costs
- Is very niche friendly
- Low cost of customer contact
- Super-low cost of entry
- A perfect synergy with direct marketing and information publishing
Advantages of direct marketing:
- Low cost of entry
- Perfect for information publishing
- Idea and niche friendly
- Scientific and ramp-able (This is how direct marketing at its best works.)
Advantages of information publishing:
- Cash upfront
- Allows you to work from anywhere
- Low or no office costs
- Niche friendly (In fact, you need a narrow niche to be successful.)
- Low start-up costs
- Potentially huge margins
All of these advantages come together with Carefree Entrepreneurship.
As a direct marketer, you can start out small and keep testing new products and promotions inexpensively. When you find something that works, you can "roll it out" instantly.
As an Internet businessperson, you can "speak" to your customers daily (mostly through e-mail) and, thus, significantly increase (even quintuple) the lifetime value of each buyer.
As an information publisher (if you choose this industry), you can enjoy teaching other people what you've learned in life and feel good, knowing you are helping to make the world a better place.
Your Transition From Overworked and Underpaid to Carefree Entrepreneur Begins Today
If you want to create a second stream of income that is big enough to meet your needs now and will then allow you to enjoy a retirement lifestyle in a year or two, this is the best way to do it. And it can be done without risking your current income or investing a lot of money you may not have to spare.
I’ve been working with a group of longtime colleagues to create a start-up strategy that includes all the information, advice, and inspiration you’ll need to become a Carefree Entrepreneur. And the way we’re going to get it to you is through a new weekly service called appropriately enough … Carefree Entrepreneur.
I'm very excited about this service. I've convinced my colleagues at American Writers & Artists Inc. (AWAI) to produce it because they are experts at creating step-by-step, interactive programs that get results. I’m kicking off the service with the first issue on Friday, July 15.
But to make sure you don’t miss any future issues of Carefree Entrepreneur, I urge you to sign up officially right now. When you do, you’ll get a free copy of my special report, Sell First, Ask Questions Later and 11 Other Principles of Business Success. It’s a collection of my most closely guarded and counterintuitive business secrets. You can go here to sign up and claim your free copy.
There is only one thing I’m going to ask you for in return: that you communicate with the editors of Carefree Entrepreneur regularly. Let them know how you are progressing. Ask them any questions you might have.
And, most important, when you reach your income goal please be sure to let us know. Your thank you letters keep us motivated. They are the fuel that fires us up and keeps us going.
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