I think this is one of the most important stages in this game. Deciding how and from where you are going to make money to become location independent.

There are plenty of income streams and I’ll give you an example:

1. Build website
2. Make and sell your own ebook
3. or Audiobook
4. Start a membership website
5. Sell a software you’ve created
6. Sell a DVD course
7. Podcasting
8. You can become an affiliate for different products
9. You can hire affiliates to sell your products
10. Start a joint venture with other people
11. Create a product
12. Advertise
13. You can publish advertisements
14. Start a Freelance business (web design, consulting etc…)
15. Start a drop-shipping business
16. Blogging
17. Writing articles

As you can see, the possibilities are huge in the online world. When you work for someone, the only way you can make more money is by working more hours (not cool), or asking for a raise (I got fired for that).

How to decide on what I should do.

Do I need to pick something I like to do? Preferably, but it’s not necessary. Why is it better? Because you have an edge. If you decide to do something that you’re not familiar with, you will have to go through a learning curve, so it could take longer to set-up.

If you need help deciding on which business you want to start, Maren Kate from escapingthe9to5.com did a good article of 7 profitable business ideas you can use to start making money in 2010.

If you ask me which is my favorite, I will say it is selling services. Why? Because of this criteria:

It has the highest revenue per visitor, it also has the lowest required visitors per month to earn a living, and has the shortest start-up time. So what are you waiting for, right? The biggest con with this, to me, is that you are still trading time for money.

“Selling services is one of the fastest ways to get started earning a living online, especially if you already have skills you’ve earned from working in a traditional job. You can create a website advertising your services, get the word out and start working with clients in a short time. Other revenue models might take months or years to earn a full living.” Freepursuits.com

Do them all!

Hey, you can even mix all the models and see what works for you best. I found this to be a great way to test and find what I liked to do more.

And hey, if you have another model that you would like to share to help others get started on their location independent lifestyle, I would appreciate it if you shared it with some aspiring location independent people.

Related posts:

1. A Question all Aspiring Location Independent Zealots Ask Themselves
2. The Coolest Challenge of the Century! 12 Week Challenge of Location Independent