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Absentee Owner Business Model

ilyatilyat subscriber Posts: 1
edited January 2016 in Selecting a Business
I am searching for a business that does not require physical
presence in particular place. I do have a full time engineering job and would
like to complement my income and job security with some revenue stream form
business. Don’t look for anything big right now, but ideally would like the
model to be scalable proportion to the number of hours I devote to it. Sales
related and MLM models are not good fit for me. I have looked at eBay but have
no idea how to approach it from sustainable revenue stream point of view. I
appreciate you feedback/suggestions
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    vapourlockvapourlock subscriber Posts: 4
    Nothing can be hands-free without you putting some amount of work on it. Businesses can be run without your physical presence but then, you will still need to do the initial work.
    1. Start on any business you like.
    2. Build on clientele.
    3. Develop systems meanwhile for everything - how you get clients, how you deliver your products and services, how you account for the receivables and payouts -- everything needs to be systematized.
    4. Hire people or implement systems which can repalce you and not demand your presence again, except perhaps, for supervision.
    5. Voila! Merci Beacoup!
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    JamesDJamesD subscriber Posts: 0
    I`ve seen a fitness franchise that is owner absentee.  Take a look at the Entrepreneur website and look at franchises for health clubs.  I can`t remember their name.
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    ilyatilyat subscriber Posts: 1
    Hello,
    Thanks for suggestions. but I`ve already searched franchise models. I got to be kidding yourself if you think I could buy a franchise, don`t be there and expect business to work. I am perfectly willing to put in hours and effort, however, finding something that could work part time is a challenge. I could not identified it as of yet. My goal is to make $2k/months profit doting business part time, that is evenings and weekends.
    Thanks,
    Ilya
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    nycemsnycems subscriber Posts: 2
    You could try opening up a laundry-mat if your looking for absentee business. You cant, just get a quick fix. There are lots of partime business you can open up, but your going to have to invest in time for researching that area. In short, can it be done....sure. Just dont look for a quick fix.
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    ilyatilyat subscriber Posts: 1
    Hi, nycems
    I have been searchings for quite some time and come to conclusion that the idea has to be more or less original. In other words, I don`t see how the the standard business you could open/buy would work here, Remember, I am at work every day for at least 9-10 hours. Ideally, it has to be something non brick and mortar, i.e. internet based model.
    I have tried to start a point of sale advertisement company few years ago. We had 42" inch displays at 6 store locations and run ads for local businesses. We had contracted few very good flash/graphic designer in LA and designed a networking software ourselves. All ads could be dynamically updated via internet. Problem was we could never generate enough sales. But I`ve learned quite a bit from business and liked the idea very much. Still, we have failed to penetrate larger customers with substantially larger budgets. Small local business were not enogh to make it work. Conceptually, however, this idea could work very well, It satisfies my creteriai in scalability and locality.
    So if you could suggest something interesting, I would appreciate it
    Thanks in advance
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    ilyatilyat subscriber Posts: 1
    Hello, Sherry
    Cool idea, but I am not a writer per se. I do write technical specifications and documents in a course of work.. All I know how to really well is to design micro electronics, for which I get paid accordingly. I do however poses good organizational and analytical skills. The other thing I do well is to play tennis, but I am far from professional level
    Think about it. All I am trying to do is to make $2k a month while keeping my main job, and without killing myself. It means, things like driving a cap, super shuttle, etc, on weekends are excluded since this kind of effort would unsustainable I bet you few people can achieve this - it`s is quite a challenge
    Thanks for feedback
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    skipshoeskipshoe subscriber Posts: 0
    Have you thought about operating as a freelancer by posting your services on sites like guru.com or elance.com?  You could do market research for companies if you don`t have any other skills that would lend themselves to outsourcing.  Just a thought.
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    MichelleTMichelleT subscriber Posts: 0
    SherylCPA`s idea is spot on ... digital information. This is my business model and I do pretty much nothing to sustain it, all of the work was done on the front end to set things up
     
    The glamorous side of the digital information business is the lifestyle ... The not so glamourous side is how you get there.
     
    The business is easy once you know how to do it. But if you dont know anything about it you will probably fail many times before you strike gold.
     
    Most people give up and come to the unfortunate conclusion that it is impossible to make money 100% online.
     
    I am proof that it can be done, but it did take me 3 years to figure everything out and develop a system that works on autopilot.
     
    My business is selling ebooks and software online. I dont use eBay ... The systems i use run 24/7 and the products sell whether i am there or not.
     
    The majority of my time is spent answering support questions from customers and tracking or tweaking my advertising campaigns.
     
    But I didnt start out with my own products, I started out with something called `affiliate marketing` (promoting other peoples products 100% online)
     
    This can make you $2K+ easily once you master the systems of driving traffic and converting the traffic.
     
    Who does affiliate marketing? And what does it looks like?
     
    Got a favorite blog you like to visit in your industry? Chances are they are doing affiliate marketing to earn revenue.
     
    You can do the same ... start a industry blog on a topic you specialize in. Develop a following for the blog and promote products specific to your visitors interests.
     
    After a while you`ll know enough about your visitors to possibly develop your own product (ebook or software) based on their needs. Tip: you dont need to be a
    writer ... there are people you can hire to write for you they are called "Ghostwriters". And there are people who can develop software for you ... they are called programmers. Writers and Programmers are super easy to find on freelance sites.
     
    For passive income that is hands off this is the only way I can think of.
     
    Hope that helps you in your quest.
     
     
    MichelleT4/15/2008 1:09 PM
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    MarkBMarkB subscriber Posts: 2

    Hi Ilyat,
    Is it possible that you may be placing too many restrictions on how to go about
    getting to the point that you want to get to? You want to be able to earn an
    extra $2k per month by only doing lite work in evenings and on the weekends.
    You need something that is scalable and flexible, and is web based.
    My first thought is that in order to bring in $2k a month in income (not
    sales), someone or something is going to have to do the hard work to get to
    that point. If you are either not wanting to be that person, or not able to,
    then you need to consider other ways the work will get done. I have 2
    suggestions for you.1. Have your money work for you. Unfortunately most of us are not in a
    position to make this choice, but if you are, then this may be the route that
    you will need to go. Someone or something is going to have to work hard to earn
    you $2k a month in income, and cash is a great way to make that happen. If you
    have it available, consider making private investments in a business or
    businesses. There are several ways that you can structure private investments
    that meet the requirements that you have stated.2. Have employees work for you by considering purchasing an existing
    business. Purchasing an existing business is a great way to avoid the time,
    effort and expense of starting a business from the ground level. However, even
    for this option you have to have money to get started. Plan on spending the
    time that you will be working in the business to be high level management type
    stuff. Employees, customer communications, accounts receivables and payables,
    that type of stuff will be what will demand your time while you are working in
    the business. So if that is not your thing then beware of purchasing an
    existing business.
    I don`t think that any of us have enough information about you to make good
    suggestions about what may be an option for you. But whether it is a hot dog
    stand or an information product sold on the web, turning it into a 2K a month
    income is going to be tough to do unless it is something that you are
    passionate about, and even then it is going to difficult.
    Let me know if I can be of any assistance!
    Mark Bebout
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    sdietzersdietzer subscriber Posts: 0
    snpkukuk,
     
    Thanks for your post but how in the world are these people making any money at all off of these blog sites?  Advertising?  Google Ad?s 
     
     
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    bjortandcompanybjortandcompany subscriber Posts: 1
    There has to be something that you are good at that can help other people and you can make money at the same time.
     
     
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    scyahooscyahoo subscriber Posts: 0
    books i am working with-
    FOUR HOUR WORKWEEK by timothy ferriss
    and
    HOW SMALL BUSINESS TRADES WORLDWIDE  by john spiers
    i am working on several things now. I am focusing on design and the luxury marketing for half of my projects.
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    ArmandoArmando subscriber Posts: 0
    To be honest this is a tough thing to accomplish. Business takes work and focus -- or a lot of capitol so you can guide and others can work. If you let me know your skills I might be able to guide you. I did a comprehensive search with a partner when we both left big corp jobs last year. We are thrilled with the final decision and happy we put the time in to research all the options. I am willing to share some lessons learned if you want to share some details about your quest. I have some coaching experience and like to share good data so pls do not hesitate to reach out.
    Armando
    www.cmitsolutions.com/southnassau
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    GreetingCardGoldmineGreetingCardGoldmine subscriber Posts: 1
    Hi ilyat,
    It seems like blogging would be a good model for you.  A lot of the suggestions you`ve received apply to blogging or were great examples of blogs that make money.With blogging you can take any topic or product or niche that you have a passion about and find ways to monetize it.  Find affiliate products that you can sell, write an e-book, develop your own product to sell etc.You don`t have to be an expert writer to blog.  Start writing and you will get better. You do want to establish a relationship with your readers but  once you have a blog established it could be possible that you might only update it three or four times a week.  That fits in with your absentee owner business model.  You aren`t absentee but you certainly don`t have to blog everyday.What could you write about and never get tired of.  Tennis?  Throw out some ideas and maybe we can come up with suggestions on how monetize your idea. 
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    pafinny1pafinny1 subscriber Posts: 0
    Hi Ilyat,
    I am currently a distibutor of "Xango", I receive residual income from the work the distributors under me earn when they ` do the work`.  Contact me for more info.
    Patty
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