Day #6 – Ideal Business Model

Day 6 and we are already discussing business models!

In an ideal world, we would have residual revenue stream from rental properties managed by a property management company so that we would be able to travel the world volunteering and blogging to bring awareness to causes near and dear to us. That just might happen one day as we are currently saving to buy our first rental property but for now in the real world the best business model would be a hybrid of active and residual revenue.

Active revenue would more than likely be considered my current “job” as an accountant. I am so excited that we live in an age where we have the technology to work from anywhere! It allows us to be loyal to a company while still moving around as much as we want. I currently provide a service, active revenue, and enjoy the stability and interaction with my clients. I definitely need the interaction. Torture for me would be to live in a remote location with no ability for other human contact.

Residual revenue streams have been started. They are in their infancy and will take time to grow. I am absolutely ok with putting in the effort and eventually reaping the rewards. We are learning photography, we live in a gorgeous place and it’s hard not to be a photographer, and have sold a couple items online. We have a couple online shops set up that require a good amount of upfront time but once that is done it is more just maintenance. This residual revenue is what will help us save for our future rental properties.

This challenge has definitely encouraged us to think more like a business and less like a hobby. This has been a great jumpstart for us!

#15DBC