I am doing quite well for myself at the moment and working towards my goal of being "free". By that I mean free to work where I want and when I want with a good lifestyle.
I have been a futures trader for years and with the increase in technology I can now do that from home and is going well.
I then setup a website teaching people to trade and it totally flopped. People don't want to be told you need at least $5,000-$10,000 to open and account and you need to work full time at it and even then will take 6 months before you are probably breaking even.
What sells is just $20 courses on how you can work 2 hours a day and get rich. That isn't reality. And to be honest I hated the whole experience. I had Facebook ban my ads account for no reason at all. I spent hours and hours trying to figure out tracking etc. I sold a few all with great feedback but didnt enjoy it and the money wasn't meaningful and I dropped it.
BUT, i learned valuable skills in dealing with freelancers so I then setup a side business doing design and marketing for a large engineering company and thats going well. Probably brings in £1000-2000 a month. So that plus my trading income i'm doing well and happy.
But i am a natural worrier. I am looking to diversify as the freelance thing isn't that scale-able in my opinion. It isn't like the gurus make out where you just get a request, farm it out and ring the cash register. I am very much the middle man. I deal with understanding the clients wants and needs, processing it, explaining to freelancer teams. Monitor it. Re-edits, get back to clients with deadline worries etc etc, its actually more stressful than making and losing thousands trading in a day. I can't do anymore than what I am as trading takes up probably 9 hours of my day at least.
So im in a good place on the whole, probably bringing in £5000-10,000 a month and saving up for a house. My dream is to get mortgage free. I think once that happens you are free. No matter what happens in life you have a roof over your head (like i said im a worrier and always looking to bank the important things first).
But, freelancing has limited scalability and the trading world changes so fast it isnt something you can say "this will last for years and years". Its a... make hay now and anything beyond that is a bonus... situation.
So i have money but I don't have much diversification or time. I enjoy trade. I enjoy buying at one price, flipping it and selling for another. I don't really enjoy marketing and working on websites/digital products that much. So am thinking things like drop shipping. Ebay stores etc etc but don't know how saturated they are or possible to do?
I know this is an internet marketing forum and I have pretty much said that isn't my main area of focus, largely because of the time element. I can afford to pay people to build sites etc for me. But I also value this forum as a hotbed for entrepreneurs and ideas so was hoping we could kick around a few ideas.
So far I am thinking high ticket items are the best area. Watches, jewelry, even cars. Id rather sell 1 product a month for 2-3k margin than sell hundreds for $10 profit. High ticket items are usually beyond the scope of people starting out in business because of the capital requirements which thankfully I have.
Does anyone have any business models they have found working along these lines?