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What would you do?

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  • 04-11-2015 10:50pm
    #1
    ThinkProgress
    Closed Accounts Posts: 1,634 ✭✭✭


    Let's say you inherited some money and your finances are pretty solid already. So you don't need to use the money to directly pay off bills/debts etc..

    What kind of business would you set up (or invest in) that could bring some additional income to your life without needing massive man hours to set up or operate?

    I know this is kind of a dream scenario, but I'd be curious to hear people's thoughts.

    And which is better in this regard, selling a product or selling a service? If that's not too vague a question. :)


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    #2
    jimmii
    Registered Users Posts: 14,810 ✭✭✭✭jimmii


    If it's just a hobby business on the side then best to stick to what you know to save on having to spend the time to learn a new market. Starting a business but not wanting to dedicate time to it is likely to just end badly though. Probably best to just invest it in something more boring! If you want to back some businesses then somewhere like linked finance is a good place to start as they will do a bit of background checking for you.


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    #3
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    ThinkProgress wrote: »

    What kind of business would you set up (or invest in) that could bring some additional income to your life without needing massive man hours to set up or operate?

    Its a bad idea to set up a business if you don't have the man hours available to run it. It will suffer as a result.
    Better to look to invest in a company that perhaps you could have an advisory position in using your existing expertise


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