Monday, August 9, 2010

Online businesses

One thing that has drawn a lot of my interest recently is the idea of setting up some sort of online business that will generate a stream of income on auto-pilot.  The reason is simple: I won't be physically able to continue working indefinitely, and I don't have enough saved in order to retire.

Steven James, a guy who has come across my radar recently, has a strategy that seems like it has some significant potential: Don't shoot for the stars, i.e., a single website or business that will generate all the income you need, but rather, put together a collection of simple, tiny web-sites that will gather the "low-hanging fruit" - picking off onezy-twozy sales of $5-50 a day.  Just a relatively few of those, and you have enough income to live off of.

He talks about it in this link:Multiple Profit Streams