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lazy

Entrepreneurship

Making a Business Without Doing Any Work – Part 2

June 15, 2017

I recently begun to formulate a plan to build a profitable business and be not doing any work. To do so, I plan to break down the things needed, then outsource absolutely all of it. If you missed it, check out part 1 here!

As I thought, I read over the steps I had formulated and quickly realized I’d need to break them down further. So, here’s the updated list of steps I’ll need to outsource:

  1. Find a market I could sell an app to, including specific demographics
  2. Find what pain points they have
  3. Collect information on players in the field (competitors)
  4. Formulate an idea that addresses that point
  5. Make a name for the app that uses that idea
  6. Create a logo for the app
  7. Decide on the service’s features – probably a scaled back version to start
  8. Create designs for the service, providing the logo for colour information
  9. Create a layout for the service
  10. Build a rudimentary app
  11. Research how similar apps are advertised
  12. Advertise the app
  13. Sit back and let things play out

That’s what I’m thinking at the moment. It’s a lot of steps, but I look at it like this – if I’m paying $5 per step and not doing any work, it’ll barely cost me anything!

What does it mean to be not doing any work?

On that note, I should mention an important caveat that I decided on. Unless the work I receive is incomplete or obviously terrible, I’ll accept it. For instance, if I ask someone to come up with a name and it’s only “okay”, I’ll take the path of least resistance and accept it.

Will this mean I get the best work possible? Probably not. But I think it’s more about the spirit of the project – the idea that someone could create a business with the bare minimum amount of effort – only contacting the freelancers.

I’ll contact the first seller soon. Keep tuned!

 

 


Thanks for reading! I’d love to hear what you think, give me a shout in the comments or on twitter!

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Entrepreneurship

Can You Make a Business Without Doing Any Work?

June 8, 2017

What’s the only thing better than making a profitable side-business? Making a profitable side-business without doing any work.

First, a little background knowledge. I, like many programmers, enjoy working on the occasional side project. Bringing a program from idea to execution can be extremely satisfying. Although I’ve never made anything that I could monetize, there’s no real reason why I couldn’t. Except, perhaps, for time. Customer service alone is a big task – bigger than I have the bandwidth for when added to my workload.

That’s where outsourcers come in. We live in a world where people who can help with a multitude of bizarre jobs are just a click away. See sites like Fiverr, or Mechanical Turk (AKA MTurk), where these things are quite cheap. Both offer a huge array of services, and Fiverr in particular offers a few that interest me. After all, what do you need for a business?

  1. A target market – one with some cash to burn
  2. A problem that that target market needs solved
  3. An understanding of the organizations trying to solve that problem
  4. A point of differentiation from the competition
  5. A product
  6. Advertising for the product

And… you’re done, right? Of course, in real life, things are a bit more nuanced – but this should be a good starting point. I’m sure that a few of these will break down further – for instance, a product needs a name, branding (colours, icon, design), UI/UX, programming, etcetera. But for most of these points, I’m sure I can find someone on Fiverr who will help.

Starting a profitable side project without doing any work might sound a little far-fetched, but I think that it should be possible. For now, it’s time to break these steps down further. Stay tuned to hear what comes next!

 


Thanks for reading! I’d love to hear your inspirations and ideas, give me a shout on twitter!

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