Imagine having a time machine that would allow you to travel into the future. Once you got there, you met with your future millionaire self to find out what you did between now and then to build such a successful online business.
You then traveled back to today and (hopefully) began implementing at least some of the lessons learned from your much wiser and wealthier self. Here are some of the core lessons you would have surely learned by now:
Get clear on what you want and WHY you want it. Once you get the goal and the reason for the goal clear in your mind, it’s a lot easier to take those steps necessary to attain it.
You are smarter than you think. Stop stalling and get started. Now.
Motivation comes from within. Waiting to work on your business “when you feel like it” means one thing: Failure.
Speaking of getting distracted – STOP IT. Make a plan and work the plan. Find your big picture and only do the things that will get you there.
The magic button that creates money out of thin air? Does not exist. If it did, would they be selling it for $97?
There’s nothing noble about doing things the hard way. Automate and outsource ASAP.
Step back. Are you still going in the right direction? Course correct.
Stop complaining. Just. Stop.
Don’t worry about your competition. The vast majority of your competition is mediocre anyway, and you’re not stopping until you reach great.
Never stop learning. You know enough right now to start, but not enough to sustain your business long term.
Face your fears head-on. If you let fear rule your life, you’ll never accomplish anything new and you’ll never experience anything exciting.
Making money is simple. You take certain steps, you get certain results.
Smart successful people have goals. f you don’t write down your goals, you’re just playing at building a business – not actually DOING it.
Never compromise your character or your good name. Remember, anything placed on the Internet might very well STAY on the Internet forever.
Be yourself. You have far more to offer others than you realize.
Now then, student of your future millionaire self, here are your next lessons. Use them wisely.
If you already have 2-3 excellent products on your computer on how to money online, you likely have enough information to make 6 figures a year. No joke. We’re going to figure you don’t care for one of the methods but you’re fully capable of implementing at least one of the other two.
There are literally thousands of people who have already proven this is true – you only need one solid workable system to make real money online. So stop searching for new get rich quick schemes and get busy. Now.
Be warned: Others might not understand what you’re doing. They might even resent it. They might try to hold you back. They might discourage you. They might be a total energy drain. And they might do everything in their power to stop you. Their motivation? Many and varied, but the bottom line is that your new business is perceived as a threat to them.
If they’re family, explain that you need to do this and you are not changing your mind. If they are friends, consider placing some distance between yourself and them. You can catch up with them later once your business is rocking – at which time you might be surprised to find out you need new friends because your old ones resent your success. Sad but true.
What you do today will predict what you become tomorrow. Are you diligently moving forward? Or are you putting things off? Choose your habits wisely. I wish I could tattoo that on your hand so you would see it every day. Choose. Your. Habits. Wisely.
Stop focusing on the economy or the politicians and just get busy. I know people who spend their days watching economic news and then lament that it’s impossible right now to successfully start a business. And I know others who ignore that same news and make news of their own, starting tremendously successful businesses in the weakest of economies. Remember, whatever you focus on gets bigger.
It’s all about selling. Period. You’re either selling a product, a click, a service, or something else, but you are in fact selling. If you are not selling, you are not making money. Focus 90% of your time on the sales process and that includes getting traffic, converting that traffic to a list, and selling to that list.
Content rules. Social networks, applications, software, etc., will come and go, but the content has always and will always work because people will always demand high-quality content, regardless of format.
Don’t start with just one product, start with 3. Launching a single product with no follow-up plan is a recipe for a few quick bucks and then nothing. Instead, know what you’re going to upsell or cross-sell before you even get started. Yes, they can be other people’s products. For example, launch your own product and then OTO an affiliate product, then upsell a second affiliate product.
Build your own tribe. Pick your corner of the Internet, whatever that might be (call it a niche if you like) and then build a solid and ever-growing tribe of people who know you and trust you as THE GUY or GAL in that niche. Don’t worry about those that don’t fit your tribe – just focus on those who do and you will always have an income online.
Don’t buy “stuff with your profits.” That new TV and new car will wait another year or two. Right now invest all of your profits back into your business. This is how people retire in just 5 to 15 years, by reinvesting now to scale up their businesses. Work the numbers. If you’re buying traffic for $1 that yields $2, then you are effectively doubling your money over and over again. If you instead invest that money in a new car, that money and it’s future earning potential is forever lost to you.
Use deadlines. This is your business, not a hobby, so treat it like a business. Think strategically about what needs to be done and write it down, complete with deadlines. Then do everything in your power to meet those deadlines, no matter what.
In the beginning, do not take a day off. Focus on your goals daily or they will fall by the wayside. Missing even one day can lead to missing two days, which can lead to missing a week which leads to a month lost. Every day re-read your goals and do at least one thing that takes you closer to reaching your goal, even if it only takes 20 minutes. It’s not about how much time you put in, it’s about how much you get done with the time you have, and how consistently you make progress.
Forgo all distractions. Hobbies, television, video games, vacations, etc., are all things you can put off for at least your first 4 to 8 months. Set a goal of what you’re going to accomplish by a 6-month deadline, and only when you accomplish it can you afford to be distracted. Yes, you’ve got to get serious about your business – enough monkeying around, it’s time to actually DO it.
Find a mentor. Or a coach. If you want to accomplish a whole lot more in a whole lot less time with fewer mistakes along the way, find someone who’s already doing what you want to do and hang onto their coattails for dear life until you can do it on your own. Yes, coaches cost money in the short run, but in the long run, it’s one of the best investments you’ll ever make.
Figure it will take 2-5 years to build real wealth. Look back at where you were 5 years ago and imagine if you had started your business then, where you would be today. Now look ahead 5 years and realize it all begins now.
Build a support team. This might simply be a group of 4 to 7 people who get together twice a week on Skype to brainstorm and report progress. Nothing beats having fresh minds looking at your business, or the moral support of being in company with others going through the same process you’re living. And if possible, get a couple of more experienced marketers to join your group and act as mentors.
BONUS: This one is for the long haul: Have an exist strategy. There may come a day when you want to sell your business, either to start a new one or to retire. By planning for this in advance, you might be able to sell your business for more. For example, be sure to actively build individual lists of prospects, buyers, and affiliates because not only will these make you money – they’re also tremendous assets when you sell.
And give your business a name and brand of its own. If you name it after yourself, it will be difficult to sell unless you find another person who shares your name. And also do everything to solely own that name. Purchase all of the domain extensions available and any variations, along with getting all applicable copyrights and trademarks.
Something to think about: Research shows that 80% of pentamillionaires (those with a net worth of $5 million or more) are entrepreneurs who sold their businesses.
Imagine you’re standing on a timeline at the exact juncture where it branches in two different directions. One direction takes you to that million-dollar business, and the other direction has you spending the rest of your life just as it is now, with no changes and no big success.
You choose which path to take. The million-dollar-future-you is waiting to guide you to that destiny – if you choose. Or you can do nothing, and the other destiny will happen pretty much on its own. Your choice.