Quick Book Review: The Business in a Backpack
The book is designed for people who are looking to create freedom from working for other people and to earn as they travel.
Ultimately the aim is to create income streams.
Chapter One: Inspiration
Value income streams overgrowth
Saving for the long term is essential.
Having income streams that payout now is essential.
It will be a tough and long road to travel.
The learning curve will be very steep from starting to profit.
Once you have scaled the curve once, it will be easy to climb it again and again.
The end goal is to be free to choose your location.
Choose a dream. Write it down and give yourself one year to achieve it.
Automation is key
Automation is the key to creating income streams.
Think how can I automate this income stream, this system, this process.
Automation means that you can process sales without effort.
Automation frees time to create new streams and create free time to live.
Remember once you have created an automated income stream that makes only £1 per day it will then make £365 in the year with zero effort.
Open Mind Policy
Have an open mind.
Look at new angles.
Try out new ideas.
Always think in income stream terms.
The Learning Curve versus The Earning Curve
People enjoy learning new things.
Most people do not want to put the work in after learning.
"It's great to look sexy, but sit ups suck."
To achieve the freedom, you may have to work two jobs.
It will be backbreaking work, but everything that you learn will pay you back for a long time in the future.
It will be a rollercoaster, but it will be worth it.
Automated revenue will escalate after time and will become valuable.
Chapter Two: Education
"You don't need to love what you do, but it does help."
Scratch your know itch.
Share and sell what you know.
Use what you understand to make money.
Money making methods
- Product development stream
A product stream online is a good or service sold and delivered just online.
The process is Research a market>Create a product> create a website> drive traffic to the site> sell the product
This is a stream that will take a short amount of time to develop and will then automate.
The aim is quick build, test, and scale.
- Content Creation Website
This is for someone who loves the area that they work in, or the passion they have and want to continue to create an audience until advertisers pay the bills.
This can be very lucrative. However, it can also take a lot of hard work.
Market Research
Market Research is important because it allows you to see if there is a market for the product and whether the product is worth the effort.
Find a niche market. The internet can be saturated and hard for someone to find a place. So don't look at books looks at 18th-century Prussian field Manuela
Solutions Sell, information does not. People generally but when they have a need or a problem that needs fulfilling.
The criteria for a good product includes: Low start-up costs, can be automated and is downloadable, is digital, provides a solution rather than just information, can be expanded for upselling, can be advertised for affiliates.
When researching market trends, a rising tide lifts all boats.
When thinking about products remember to focus on long-term stables.
Ensure that you Evaluate the demand in a given sector or industry. To do this, you will need to check keywords.
To do keyword research you want to look at all the keyword related to your product sector.
Look for results below 5,000
Use quotation marks to reduce the search further.
Look at what the top five are doing on there site.
Test your product
Useful Websites from the book
Useful Website for Market Research
Useful Websites for Keyword Research
Useful Websites for Competition Research
Http://adwarods.google.com/select/adtargetingpreviewtool
***