The ultimate goal of my journey to building an online business is so that I can stop trading my time for money and earn a living through more passive income streams. This would allow me to watch my kids grow while living on a tropical island paradise and only having to ‘work’ 4 hours a week. Well, you get the idea.
Currently the majority of my revenue comes from selling services (consulting, freelancing, independent contracting, etc). Corbett Barr identified the four most popular online business revenue models and compared them with a cool graph.

As you can see, selling services ranks the lowest in terms of income “passivity”. Selling products is a much more passive revenue model and it better leverages your time as well — create the product once and sell it time and time again. This is why I am on a path to transition to a product-based revenue model.
Easier Said Than Done
Unfortunately, transitioning from selling services to selling products is hard. Here are some of the common challenges: Continue reading








