What Business Should I Start? 5 Popular Startup Models Compared

business tips Feb 10, 2020

If you're interested in creating freedom in your life, then you need to create sources of income that aren't dependant on your time. 
 
So you might be asking, what business should I start?
 
Well, to try and help, I've put together for you a list of the most popular business models when it comes to starting a new business along with the pros and cons of each model.
 
I am involved in several of these business models and enjoy them all. My aim isn't to steer you towards one, just to let you know some of the things to consider when thinking about starting your own business. Let's dive in.

#1: Services

Examples:
Financial Advisor, Graphic & Website Design, Marketing, Coaching, Plumber, Electrician
 
PROS
  • Highly Profitable
  • Low Startup Costs
  • In Demand
CONS
  • You need skills
  • May need certifications
  • Trading time for money

#2: Property

PROS
  • Huge income potential
  • Highly passive
CONS
  • Massive startup capital
  • Inherent risk
  • Potentially slow growth

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