Looking for sustainable income stream(s) preferably in online space to allow freedom of location and time. Currently in professional space trading time for money. Open to any niche that has the revenue potential of around 50k.
I think you need to think outside the box. You can definitely make 50k a month but someone just giving you ideas is not going to help you. Remember Ideas are just 1% execution is 99%. Find something you're passionate about. Find a problem that people have daily that can be solved.
But if you wan't ideas: E-Commerce is going to be really big over the net few years. Helping people increase their conversion rate will definitely make you over 50k a year if you can execute it right.
50k is definitely achievable but I wouldn't expect it overnight. Most people are using their "sweet spot" and turning that into a coaching or consulting business. You can surely do this and charge clients upwards of $600-$1200 or more per month residual income on contract for a 6-12 month program. It all depends on you and what problem you can solve, Getting into a niche you don't know much about will take you some time to learn and then you'll have to figure out what you can solve for clients that the next person can't. You can always do some research on niches with low competition but I would suggest working with what you know first, to get money flowing in, and then learning something different later on if that's what you choose to do.
Information products are the easiest and the quickest path to doing $50k/mo. Solve a real problem, find jv partners and affiliates, and launch your product. We recently launched a $25k/mo business ... all information and video training. Software is HARD.
A business model that can help you achieve more than 50k per month is network marketing, if you work hard enough.
Here is the monthly profits made by the top five earners in this field,
Igor Alberts & Andreea Cimbala - $ 2,200,000
Jenna Zwagil - $ 1,060,000
Trin & Jirawan Vichaidith - $ 940,000
Rolf Kipp - $ 900,000
Ivan and Monika Tapia - $ 860,000
( source: businessforhome.org )
This field offers plenty of opportunities but competition is high. Its basis is building networks of people who buy and sell products. So if you make use of the online platform wisely it can guarantee you tremendous opportunities. It offers you great freedom of location and time. There is no 9 to 5 schedule to follow. You can choose when to work and how often and for what duration. Maintenance costs are low. Thus the benefits are boundless.
Automation is the new key to ensure success. Many software are available for successfully running your network marketing business. Check out more here,
Of course, nothing appears overnight. Great results are achieved with discipline and consistency.
There are many proven online business that will generate for you 50 K/month with time such as Network Marketing, Online blog, Youtube Channel. Or you can have products and services with value and demand that you can promote.