Recently my product development business started earning enough money for me to be able to devote my full attention to it. I've been working towards this for a while now, but here's how I got to this point, how I eliminated the fear and how you can too.
1. Low overhead lifestyle. My wife and I have managed to reduce our expenses to the barest of minimums. We've managed to reduce our rent and utilities to zero. Our insurance, petrol and groceries are our largest expenses now and they come in under a grand. It doesn't take much sales from our business in order to cover those bare necessities. Now we are just looking for products that are base hits instead of home runs. Look to reduce by following the 1 time downside (i.e. moving) with ongoing upsides (1/2 to 1/4 the cost in rent). Avoid doing things with the opposite costs. Avoid clipping coupons because they incur an ongoing downside with a once off upside. Read More>>
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