Aside from the typical freelance or online ways to make money, these are some potential businesses that could help enable a LIP lifestyle…
1) Virtual Assistant to LIPs – a LIP has unique requirements when it comes to looking for help. Whilst my limited & novice relationship so far with my VA is proving fruitful & productive, I can already see a ‘niche’ market evolving here to help service other LIPs. Talk to me (via this blog or join me on Facebook) if you want to know what this is…
2) Online Coach – there are any number of untapped niche coaching businesses which I can think of. If you already run a coaching business but it’s not doing well enough yet to let you live your LIP life, then consider tapping in to some of the niches out there to grow or add additional streams to your business.
3) Blog & write online for pay – there are many sites like payperpost or smorty which pay you to blog & promote certain services. Try blog networks like GigaOM which could help you get a paid blogging post.
4) Build a membership or subscription site – whilst this may take a while to grow big enough to pay you a decent income, it is effectively a passive stream of income which is what a LIP should always be looking for.
5) How To products - like the online coach business, think about what knowledge you have or things you’ve achieved that others would pay to learn and then get creative with the different delivery formats you could use to share this knowledge (ebooks, audio books, videos, group classes etc.).
And remember, if you’re smart about where you choose for your LIP lifestyle, your financial requirements could drop drastically and enable you to live an even better lifestyle than you currently live despite earning less.
Thanks for the ideas. It is looking more and more like Coaching is going to be my calling. Are there any niches that you suggest, or somewhere that I could go to get some ideas?
Hi Coach Kip – as far as coaching niches go, I don’t believe in picking one just because people want that help when you have no experience yourself in that niche – to me it’s about authenticity and crediblity. Play to your strengths and coach others in an area you know well and have some credibility in. Whilst that’s possibly not the answer you were looking for, it is, in my opinion, the only route to go if you want to be build a credible business based upon coaching. Good luck!