I have always felt that working for someone else was like agreeing to be their slave. I’m not saying such a relationship could not be beneficial for both sides… However, the benefit is skewed heavily in the employer’s favor. While they claim to take all the risks, they aren’t doing all the work. The reward is rarely proportional to the work performed. For those that have no desire to take the initial startup risks, then being on the leash of some employer makes life a lot easier. You don’t need to contend with lean times when sales dry up or the market changes against your business model. The business absorbs these flucuations in income and continues to pay a consistent, albeit small, check every month.
Working for yourself (aka “being your own boss”), can be very rewarding. I’ve never met a self-made millionaire that worked as a “slave” for another employer. I’ve met smartPhone game developers that hit it big simply because their game went “viral.” Often they either continue adding content or sell the rights of the game to a big distributor. There are several avenues one could take to earn active and passive income streams. The most successful are those that figured out how to make more passive income than active income. As the name implies, passive income, requires no active work to continue revenue. These are the ideas that I want to work on more. Like those game developers, I need something that goes “viral” and enables me to input minimum work after slaving over the initial time-investment of building the system.
Below are some of the ideas that interest me:
- Build an idea sharing site where you can publish your work on the blockchain (similar to the USPTO)
- Blockchain ideas and money management
- Continue investments in Proof-of-Stake blockchains where I earn coins by simply staking my coins on the network.
- Microgreens and Vertical farming
- LEGO Academy (where I could teach kids about colors, engineering, and architecture through LEGO bricks)
- LEGO store (sell LEGO sets and parts online)
- Software development
- Build a network of EV charging stations in Hokkaido