Become a Young Successful Entrepreneur

Photo by Cupcakes for Clara

New years is coming up and we’re off to the races!  Our goal is to establish a company that is generating revenue for Future Delivery by early 2009.  Here are the requirements for the company that we will establish:

1. The company must be completely self-automated.  It should require no management time from Yu-kai Chou or myself to continuously drive revenue
2. The company must be completely self-automated by March 2009

I thought there were actually going to be more requirements, but that’s basically it: self-sustained company to be established by March 2009.

How will we accomplish this?

We are currently working on three models that can potentially establish this for us by March 2009:

1. Site Vitamin

Site Vitamin is a social media and web development consulting firm.  We focus on helping companies use social media to brand themselves, build community, and generate more reveneus.  We also build and design sites for our clients ranging from social networks to portfolio website.

Pros: We have an expertise in social media and social networks. We currently have a strong team that can lead all development and consulting without the need of my supervision.

Cons: Everyone and there mom seem to be social media or web development consultants.  The market is saturated, so it may be difficult to get clients on a consistent basis.

2. Pro Business Blogger (name pending)

Pro Business Blogger is a membership program for companies to learn how to utilize social media for their company benefit.  I am developing an eBook and  video tutorials that companies can subscribe to in order to learn how to use social media.

Pros: A membership program will generate steady revenue for Future Delivery and allow us to reach out to a wide range of businesses.  Each business that subscribes to our membership gets a discount on all Site Vitamin services, which will hopefully lead to more companies that we can directly work with.

Cons: Huge intial time investment cost on my part.  I have to write the eBook and create all of the How-to videos.  We will also have to invest money into Adword marketing.

3. Drop shipping

We will establish a drop shipping company that generates passive income for Future Delivery.  Yes, I know drop shipping is not “sexy,” but revenue is revenue.

Pros: Yu-kai Chou and Joseph Yi both have successful experience in building a drop shipping company

Cons: Drop shipping can be risky depending on your manufacturer or wholesaler

So those are our three current models for generating sustained revenue by March 2009.  If you’re interested, I would love to send you the Pro Business Blogger eBook to get your opinions on it. Thanks!