We’ve seen too many Clients fall prey to the No Money Down Real Estate Courses, Get Rich Buying Tax Certificates and dozens of other Saturday afternoon and late night get rich overnight TV Gurus. Even some of our higher net worth Clients fall prey to the overpriced Franchise deals.
We’ve developed 10 Key Points of an Ideal Business:
An ideal business is one that:
1. Could Run from Home (low overhead)
2. Has No Set Hours (allows you to work a regular W-2 type job until you’re ready to quit that job)
3. Has No Inventory (no large sums money sitting on a shelf, no product to physically handle or a service that ties up your time)
4. Has No Need for Special Skills (years of school, special training or lengthy certifications)
5. Needs No Employees (generally more headaches than what they’re worth)
6. Has little or No Government Interference or Oversight (you get to run your own business with little or No government headaches)
7. Has Low Start Up Costs is Easy to Get Involved with and CAN Make Money by Itself (You don’t need a second mortgage or to empty the IRA and is easy to start and run, you shouldn’t need to do things every day for the business to make money)
8. Is Morally Good for Society (aids the individuals involved at all levels, business Owner (you) and Customers alike)
9. Allows You to Sleep at Night (no need to worry about what you’re doing coming back to bite you or embarrass you and the family)
10. Actually Makes Money Over the Long Term (no get rich quick schemes, if it can’t do this you don’t have a business)
As of this writing we have found 1 business that we feel fit the above 10 Key Points.
There may be others out there.
We just haven’t seen or reviewed them yet.
For those people that want to generate a second income to cover monthly expenses or save for retirement and Eventually not HAVE to Go to Work, we can recommend the following: