Make Money Creating Your Own Product
If you look at the success stories on Tim Ferris’s 4 Hour Work Week Blog, you’ll notice many of them involve people who had a problem, couldn’t find an easy solution and so decided to just get a product manufactured themselves.
They’ve then gone and setup a simple online store – many using Shopify (store done in 2 hours!) – and spread the word through online networking, guest posts through an affiliate program.
This obviously has a lot of focus (ie one product) and involves taking some serious risk when compared to say drop shipping – ie unlike drop shipping, with this idea you own the inventory before the sale, and you would have spent a fair whack earlier on prototyping too.
But yeah, it also comes with much higher return possibilities, and provided you get a warehouse to hold the physical product and dispatch it automatically when a sale comes through Shopify, then you still have a fairly passive income stream. So start thinking about your specific problems and what sort of product would be perrrfect for it.
Become an inventor!
Our goal is to find multiple income streams, and the more passive the better.