The Only Rules To Achieving Success In Business: One, Find A Need And Fill It
Would you like to be able to move anywhere in the world and within a short time be able to establish yourself in a comfortable upper-middle class style? If this is your long term goal or an immediate need, here is how to achieve it: FIND A NEED AND FILL IT.
How? Make sure the need you are going to fill requires no special license, permits, or educational background. If the government of the place you are at takes any major interest in what you are doing and imposes regulatory requirements, sell out or abandon the operation and run as fast as you can in the opposite direction.
Try to find a field of endeavor that does not require you to acquire any fixed or expensive assets. I am talking about avoiding (at first) things like real estate, production facilities, machinery, transport equipment (trucks, planes, boats, etc.), or even an expensive offices or stores. And by acquire, I mean ownership or leasing. It should be possible for you to support yourself and your family in grand style without the responsibility of owning or managing any property or employees.
Stick to a business that has no upper limit on earnings. If you own a restaurant, there is a physical limit to how many times you can serve lunch or dinner to a given number of tables. If you are selling restaurant franchises or any other tangible or intangible replicated product there is no limit to how much you can make.
Whatever you do should be doable in many places internationally. There should be both a need and a demand for the product or service that is not purely local. Go into something that doesn't require too much expertise- unless you happen to be an expert in something already.
Try to do something that is so “out of the ordinary” that there is little or no effective competition in the field. On other hand, in some fields the demand is so strong that you can keep busy, even though others perform the same services. For instance: Handymen who do home repairs, painting, and especially plumbing repairs. Another category: Computer nerds who can set up and maintain websites, assist with blogs, and deal effectively with software problems.
What you do should have a relatively low profile to discourage jealousy, regulation, imitation, and interference in your operation. Make it something you enjoy doing, something creative, interesting, and, last but not least, lucrative.
Whatever you do, don't be so committed that you can't abandon the whole thing and move on without emotional scars or financial losses you can't afford.
The above rules tell you what to stay out of, and the uninitiated might say, “It appears, all that's left is to get a job...”
The last rule is: Don't get a job.
Guest post by W.G. Hill author of P.T.O.O. 2020 - Portable Trades & Offshore Opportunities