For many entrepreneurs, the motivations for starting their own business is so that they can become location independent and transition away from being chained to their desk 5 days a week. Entrepreneurship is wonderful in that it can grant you a certain amount of freedom and independence, and presents an exciting opportunity to fuse travel and work together. However, the flip side is that you can easily become worked into the ground which is what you want to avoid.
Location independence isn’t simply about being able to work from anywhere in the world, it’s also about having a business that runs itself and allows you to make a passive income. Online courses are wonderful assets in location independent businesses, as they allow you to offer great value to mass numbers of people.
Here are a few tips on how to create a location independent business, and why online courses are essential to help you grow your profits and achieve more freedom in your work.
Develop passive income streams
One of the simplest ways to create a location independent business is to develop passive income streams. Passive income is essentially a revenue stream that doesn’t require your regular input. For example, book sales are a great passive source of income as you’re making money without having to necessarily put in hours for each sale. This is a great goal to aim for, as a passive income means you don’t need to be seeing individual customers or clients in order to make money, so you’re not tied to one place. One great source of passive income is eBooks and online courses, which brings me to my next point.
Create an online course
Online courses are wonderful, as they allow you to educate and provide great value to others and grow your business. Once you’ve developed your online course, you can then make it available to download or purchase and you simply have to maintain the content and update it whenever you wish. Online courses are a great way to build your freedom business and the potential is endless. Creating an online course can be challenging, so keep an eye out for useful workshops such as our Big Leap Bootcamp Event to help you overcome any frustrations and challenges you may be facing.
Outsource work
In order to create a location independent business, you need to let go of the idea that you need to do everything yourself. If marketing is your weak point but you want to get your business off the ground, consider working with a marketing company to free up more of your time so you can invest it into what you’re good at. If you’re struggling, seek the guidance of a mentor or business coach to help you direct your business towards success.
