There are endless types of businesses and ways that people make money. Many of these businesses would be in the category of dull, dirty or dangerous. Most people are looking to start a business that is easy, lucrative and fun (ELF).
Easy, Lucrative and Fun can have different meanings for different people. Some people only want to make enough money to be financially stable and have more freedom. Other people want to build wealth and become as successful as possible.
Likewise Easy and Fun also have different meanings. Some people would love to have a pet grooming business while other people would find that difficult and stressful. Different people have different goals in terms of the type of work they enjoy and the lifestyle they want to live.
Some jobs are physically difficult such as oil rigs, construction and commercial fishing. Other jobs are mentally and psychologically difficult such as sales, medicine, or technology. Everyone has their own personal preference for the type of work that they enjoy.
Few solopreneurs would likely seek out a career in commercial fishing, oil working, logging, or other dangerous occupations. Most people will also be working their main job full time while they build their side business during their free time. Having this flexibility is important for long term success.
Whatever business you start it's inevitable you will encounter difficulties. The question then becomes, what type of work will inspire you to overcome these challenges? Many people struggle to find their purpose and don't commit to one thing long enough to see real results.
It's tough running a business, and gets even more difficult when you find success. When you start to make money, government and former friends will come out of the woodwork to get a piece of your wealth. Unfortunately the alternative isn't much easier, staying broke and giving up on your dreams.
How much money would it cost for you to live the life you want? According to studies, approximately $75,000 is the amount for most people to be content. By comparison the average salary is only about $20/hr or $40,000 per year.
Most businesses need to earn far more than $75,000 in annual revenue in order to hire full time employees. If this business is a solopreneur or side hustle, this amount could be more than adequate. It’s important to be realistic about your goals and what you truly want from your business.
It's fun to dream about becoming wealthy, but it's also important to be realistic and set attainable goals or risk burnout.
For 99% of people reading this article, you will likely never be a movie star, professional athlete, or Billionaire. This may be a painful realization to accept, but this also forces you to focus on all the realistic and proven ways you can achieve your dreams of financial freedom.
The more important question is, would you really want to be one of these celebrities? Everyone has personal struggles, but for celebrities their struggles are on public display for celebrity gossip and social media. Even with all their fame and fortune, many celebrities struggle with the same problems they had before.
There will never be a moment when you earn enough money to make all your problems go away. The process of overcoming adversity and following through on your goals will give you the inner strength to help face your new challenges that come with having more money.
Unfortunately many people work jobs they don't like just to pay the bills. Their dreams and goals get further away as the years pass by. Life happens and people have more responsibilities like families and children. Having a successful side business can drastically improve someone's life.
An additional income source will allow for additional time with family, friends and pets. Without the stress of taking a job just to survive, you can also focus on getting a more fulfilling job. You will also be able to save for things like vacations, newer vehicles and pursuing hobbies.
Having fun will almost be inevitable if you have a lucrative business that’s also easy to run. You will have more time and opportunities to enjoy the fruits of your hard work. Ultimately happiness and fulfillment must come from within and often involves working through past traumas.
Succeeding at your goals and making money is an extremely satisfying feeling you will likely want to repeat. As your business grows you will also make new connections and find new opportunities.
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