Re: Finding new ideas before they become \"big\"
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Lastly, about 'passive income'. PI as a concept is great, but most people get to passive income through active income. They work, then they invest, and then live off their investments. If you hit one or two hot things, you can make your 1 million and at that point simple investments will get you 80-120K/year in income. That's as passive as it gets. It's not balla money, but it's decent money to live in most places on earth. Or you build your business to the point where it runs itself/pay someone to run it, but it's still alot of work early to get to PI at the end. I guess my point is to pursue income and opportunities, and not worry about PI as that will be the result anyway.
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Yes, very good point. I'll add that you should be looking for concepts where it is possible to eventually get to a PI level. Many business concepts continually rely on the owner's ingenuity or personality to make the business prosper. You want to avoid these.
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