10 Essential Tips for Becoming an Entrepreneur
So you want to start your own business in whatever niche but haven’t a clue what it takes to be a entrepreneur?
Well let me tell it’s not all sunshine and rainbows, it’s does require hard work and dedication.
Many people become entrepreneurs for the wrong reasons and rely on just making the money but it’s so much more to it than just making money it’s a journey to find out who you are and what type of person you will become in the future.
Let’s keep it real here we all know becoming an entrepreneur is not easy but it is achievable if you follow these 10 tips that we have learned.Â Read more…!
If you are working towards becoming an entrepreneurÂ and really want to transform your life from a zero to a hero then you are going to have toÂ shape up your mindset and do what others aren’t willing to do.
Becoming an Entrepreneur | 10 Essential Tips To Make The ShiftÂ Painless
1.Â Let Go Of Your Negative Thinking ~Â This kind of thinking will only continue if you allow it to consume your mind with what if’s and how it’s not going to happen type of thoughts that will keep you broke. Stop being negative all the time, and listen with your ears to the words that are coming out of your mouth. Quick story, a woman we spoke to during one of our Skype video chat sessionsÂ was curious as to how to make money from home through blogging and we said to her, ” if there was a way for her to earn an extra $10,000 per month, would it be worth 8 minutes of her time to check out a video presentation?” Â Know what she said? She said, “$10,000 my goodness that seems impossible to earn and almost too good to be true.” See this is exactly the type of people we run into all the time and if she had really given it much thought instead of relying on her current understanding she would be further in her business today. Â [Tweet “If you want some new results, you must get a new understanding. ”
2. Make Better Preparations Today for Your Tomorrow ~ Â Right now the year is 2015 but you aren’t where you want to be because you didn’t prepare and plan well enough in your business in the year 2010. Â Did that just hit you? Start making plans by planning for the future, your time will come where you will be sitting on the beach sipping out of coconuts soon.Â
3. Stop Being A Technophobe ~Â We understand and feel sorry for people who don’t know how to use a computer, but feeling afraid of making a mistake with technology well that shouldn’t prevent you from learning the skills. Â No matter what age you are, there should be absolutely no excuses for you not to take computer courses at the local library or online to learn the basics. Â After I gave birth to my son I immediately enrolled into a business school and graduated with a diploma in Computerized Business Technology. Â That’s the reason why I know what I know because I took the time and invested into learning the skills, we encourage you to do the same.
If you like to learn computer basics, intermediate or advanced levels and you never ever taken courses I highly recommend GCFLearnFree. This is the very same website I had to study from when I was self-teaching myself advanced computer skills and technology from home while attending business school.
4. Switch Your TV and Gaming Time for Education Time ~Â If all your doing isÂ playing games of the computer (ie. Farmville ,Candy Crush, Casino) and your involved in a home business then truth is your not learning anything. You can’t afford to keep doing this activity during your work hours you are supposed to be running your business. Â Schedule your TV watching time and gaming time for when your tasks are completed. It has been since 2000 I haven’t watched public television and I devoted all my years to reading and learning this industry, this is why I am knowledgeable in the small business industry. Invest your time to reading and listening to personal development and sales leadership trainings, these will become a part of your success library.
5. Don’t quit your day job until your business income exceeds your paycheck ~Â People who are broke are so paralyzed by the “paycheck to paycheck” lifestyle it’s ridiculous. To clearly avoid falling into this trap you want to quit your job when your income from your business is twice the amount you are making. Truth be told I made the mistake of quitting my job many years ago while I was running a network marketing business that was only paying me less than $250 a month, don’t make this mistake.
6. Pay for outsourcing services when you are ready to no longer do the tasks yourself. ~Â The best book ever written about time freedom by outsourcingÂ your life and business is called, The 4-Hour Work Week by Tim Ferris. This book is the best book I have ever read about how one entrepreneur turned his busy lifestyle of mundane tasks and just flipped the switch into leveraging all of his time by paying someone else to do his work for him. GET AND READ IT!
7. Be responsible with your money ~Â Open a business checking account and start tracking all your business expenses because the last thing you want to happen is the IRS come crawling up your ass with a microscope landing you in jail for income tax evasion. Many new entrepreneurs just spend the money they earn on material things before they even think about putting a portion into their business and keeping good financial records.
8. Roll your income back into your businessÂ ~ This is very important to know and it’s one of the primary lessons my business coach taught as a online marketer.Â You must take a portion of your income from your business revenue and roll it back into your business. Â I believe if you want to be aggressive and build very fast in order to build your dynasty you want to put in as much as you can about 50% but the bare minimum is 30%. Put the money towards business related services and tools that will help your business produce more income.
9. Lead by example and teach your kids ~Â Yes! we can’t leave out the children, they too must learn how to manage money if they are to be inspired one day to follow in mom or dad’s footsteps. Â Children have dreams and they are watching your every move so wouldn’t it make sense to be a leader, mentor, and teach them financial responsibility. Â Don’t say to your kids or child bad negative responses when they ask you for a few dollars, “Hey who do you think I am Donald Trump?” Stuff like that will only discourage them and they will not learn, so be a hero to your kids but don’t spoil them rotten.
10. Know the difference of Good Debt Vs Bad Debt ~Â I thought debt period was bad debt until I read the books by Robert Kiyosaki only to learn there are two kinds of debt. The two kinds of debt are Good Debt which is any money that you borrow and somebody else pays back. Bad debt is any money that you borrow and you pay back. Â The way wealthy people have handled this type of situation is they first create an asset, develop an asset, or buy an asset that pays off the debt from their purchase. Â For example: If you decided to buy a house that’s an investment property and your mortgage on this house is about $500 per month and you end up putting that house for rent for $800-$1,000 per month, someone else is paying that debt back to you, generating cash flow at the same time known as GOOD DEBT!.
Rich and I have shared a lot of informational tips here to help you in becoming an entrepreneur of respect and passion. The way we see it you can keep doing what your doing, stay right there in your home of misery and live paycheck to paycheck wishing you were in Vegas or you can lock arms with me and Rich and well help you get there.
If this post has added any value to you and you are ready for a change in your life then you will want to become an Elite Member of our the Six Figure Mentors school. There we teach you how to behave and think like an entrepreneur with respect. We teach you the skills you need to explode your business andÂ deprogram your broke mindset by giving you positive successful education.
See you on the next post,
See you on the next post!
Ace & Rich Guzman
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