Passive Business Venture
I’m so excited I must say. I’m now developing a new business with a business partner who is 350 km away from me. Distance is indeed not a problem, thanks to the internet. We discuss business decision on a daily basis via email, gtalk, sms and phone calls. This will be the second business project I’m working on with my partner.
First Business Project
The first project commence about 3 years ago (2008). Initially there were 3 of us. Unfortunately, one of us left due to his own personal problem. Since then, me and my partner who is based in Selangor worked our ass out to develop the site. I prefer not to reveal it now… Maybe later in future.
The project is still going on and together we have 3 sites running successfully. The sweetest thing is that starting in January 2011, we hired a part time staf to assist us run our business. Yeah…we have sufficient fund to recruit a part time staff and also paid our hosting company 2 years up front.
However, there was lack of automation in this project. We still need to do many things manually despite of having our own staff. So, 2 weeks ago, I proposed my business partner to venture into another project together. That is our second project together…
Second Business Project
This one is still in its infancy stage. However, we are working hard to kick start the second project before February ends. So, what are the significant differences between project 1 and 2?
Basically our ideas for the second business project are as follows:
- Fully automated – Less active involvement from us.
- Full out outsourcing – Others do the work for us.
- Able to be duplicated – meaning we can replicate and create it again and again following a system we have created.
- Passive income – One time investment, and then we rip the rewards each and every month.
- Able to break even in less than 3 months.
We need to kick start the second business because both of us are fully employed and don’t have much time to dwell with our blogs and sites. So, if God will, we will see our first batch of sites active and running by the end of first quarter 2011.
Pray for our success, we will also pray for your success too…
Image courtesy of dcmist.com/competitions/group-projects/business-venture/