May

6

Make Money Online with Focus and Self Discipline

Filed Under Goal Setting, Change & Growth, Creating Wealth, Internet Business, Business Success | Leave a Comment

self disciplineIt’s always a good idea to be very aware of your own weaknesses and to be honest with yourself about your shortcomings. If there’s one thing we could all use a little more of, it’s self discipline and focus.

In my own experience building an Internet business, I have struggled with this problem many times and, frankly, it’s still a challenge today. Of course, this concept applies to far more than just becoming a successful internet entrepreneur. Whether you’re trying to start your own business or looking to create a new exercise routine, self discipline and focus are absolutely critical to your success.

If we all need more focus and discipline, what’s the answer? How do we develop the proper mindset to create more focus and self discipline in life?

I believe there is one very simple, incredibly obvious, and commonly overlooked answer to this problem – getting clear about your goals.

Sure, you’ve heard it before – but how current are you with your goals NOW? That’s really the only thing that matters. Nobody cares what your goals were six months ago or even six days ago – especially not your subconscious. As far as success is concerned, goal setting is about the HERE AND NOW. That’s why it’s so dang hard!

Any old chum can decide he wants to become a millionaire. And any gal can say she wants to build a new business from scratch. But how many will actually follow through? Based on the available evidence, very few. As Bear Bryant once said, “It’s not the will to win, but the will to prepare to win that makes the difference.”

As usual, we need a clear idea of how to create focus and self discipline, so let’s make a list of things we can all do TODAY or RIGHT NOW to make it happen:

1. Write Out Your Specific Goals
This is the best place to begin. You have to know where you’re going if you expect to get there. Try to keep your goals list focused on one key area.

2. Schedule Your Time
Really. Novel, isn’t it? Plot out your time in blocks and stick to it! Make sure your time is being used to achieve your goals.

3. Create Daily Reminders
You need a system for keeping you mindful of your purpose every day. I know some people have success with post-it notes and the like. I’ve always liked the note card on my dashboard.

4. Chunk It Down
Step one should help you get a clear idea of where you’re going, but you can’t get there in one week, one month, maybe even one year. So break it down and make it easier for you to identify and celebrate progress along the way.

5. Set Aside Time to Relax & Decompress
This is an area where I have a lot of trouble and I know it affects my progress. The amount of “down time” you’ll need will depend on you and your situation, so personalize this step.

Sounds like a lot of work? Well, it is! Focus and discipline is NOT easy, else we’d all just have it. You’re up against years of habitual behavior and thought-patterns. It’s not going to be easy to turn this around tomorrow. But stick with it and I know you’ll see results!

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Sep

7

Entrepreneurship and Risk

Filed Under Goal Setting, Personal Development, Creating Wealth, Identity, Entrepreneurship | 2 Comments

We often hear about entrepreneurs “taking risks.” Some even define the very act of entrepreneurship as risky. I’m sure you’ve heard it all before.

In some ways, this is quite true: an entrepreneur who cashes out a life savings or retirement account to fund a new startup is definitely moving away from security and towards risk. Even the budding entrepreneur who quits his day job to pursue a new idea for a home business is taking a risk.

But what does one risk by not taking advantage of a unique opportunity and staying in the same job?

And what about relying on someone else for income? Isn’t it “risky” to count on your employer for raises and greater opportunities?

I’m not about to take the hard line here and argue that entrepreneurship is actually “safer” than the traditional employee route. Nor am I going to suggest that 100% of people would be happier as entrepreneurs.

I am going to argue, much in line with Robert Kiyosaki, that entrepreneurship should be part of everyone’s life in at least some way. Will this require a little risk? Yes. But a little risk is healthy and will likely even contribute to a greater sense of self-esteem and personal mastery.

Even a little risk-taking could be of real value:

  • Take a little risk and start a website that requires only a few hours per week to maintain but slowly builds traffic and a nice supplementary income.
  • Take a little risk and sell your homemade crafts on eBay for a few extra bucks here and there.
  • Take a little risk and write that book you’ve always wanted to publish.
  • Take a little risk and learn more about the stock market to become a savvy investor.

Maybe your project will turn into something big. Maybe it won’t. Perhaps your work will inspire you onto something else that really works. Perhaps not.

One thing you can count on is a big change in yourself and how you look at the world.

The objective is not to become the next Donald Trump here. You’re simply trying something new and getting out of your comfort zone. It’s just a little risk and only a small move for big results!

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Aug

24

Applying Principles of Entrepreneurship to Your Life

Filed Under Goal Setting, Time Management, Creating Wealth, Life Balance, Internet Business, Business Success | 1 Comment

Entrepreneurs use creativity to build something that works.  That’s a very general definition.  In business terms, an entrepreneur builds something that works, and the measure is revenue, profit, and longevity. 

So what are the “principles of entrepreneurship”?  How does an entrepreneur pull this off?
The idea is…

  • To be creative
  • To take initiative
  • To stay motivated
  • To generate profit
  • To empower and support others
  • To provide value

Entrepreneurship is a way of life, no doubt.  But the context for the entrepreneurial imperative is business.  The business world encourages entrepreneurs to take risks with the promise of profit. 

I am a firm believer that entrepreneurship is about far more than just building a successful business.  (Another way to put this: Entrepreneurship is about more than just making money.) 

Let’s transform the concept by applying the verb form of the word – “to entrepreneur.”
How can you *entrepreneur* your life?  How can you apply creativity, initiative, motivation, and abundance to everything in addition to your business?

Many entrepreneurs do these things naturally, which is why they become entrepreneurs in the first place.  Yet, becoming such a person is a process – not an overnight thing.  No one is born a successful entrepreneur.  Entrepreneurs come from various backgrounds, family lines, ethnic groups, etc.   

There is only one defining characteristic that all entrepreneurs share: the entrepreneurial mindset.  And by mindset, we mean: “a habitual or characteristic mental attitude that determines how you will interpret and respond to situations.”

Just one quick look at the above definition provides our answer.  Since a mindset is “a habitual or characteristic mental attitude,” then the entrepreneurial mindset must naturally be part of the entrepreneur’s business *and* personal life.

The trick, of course, lies in pulling that off successfully.  No entrepreneur really wants to work all the time.  That defeats the very purpose of creating your own business! 

As Tim Ferriss so artfully explains, virtually all entrepreneurs come from the 8-5 working world and thus bring along an employee mindset into the entrepreneurial world.  Working all day comes naturally for most people…unfortunately.

So what are we aiming for in applying entrepreneurship to personal life? 

First, not to work.  That’s right.  We need to crystallize that point right at the beginning.
White sand beaches and crisp, refreshing mohitos are enchanting, but the relaxation phase cannot and does not last forever.  Soon enough, the snake charms us again.  Really, we do it to ourselves.  That’s how we got there in the first place, right?

This is precisely why entrepreneurs are especially prone to workaholism.  We love to work because it brings us so much meaning in life.  Work is good, but only if it’s the kind of work that truly inspires, enriches, and enhances the quality of life. 

Most profit-building projects do not do this for us.  We’re only going to find that style of fulfillment in going to work on the self – in pursuing personal passions, causes, growth, and adventures.  True, there are the occasional business pursuits or work activities that do create great personal fulfillment.  But why limit yourself to only one way of going about this?

The point is simple: entrepreneurs need to plan life in such a way that prioritizes self-promoting activities.  And that’s the whole point of becoming and being an entrepreneur: to create the lifestyle of your dreams! 

In the end, it really is up to you to *entrepreneur* your own life.  You’ve got to discover what it is you truly want to do.  This can be hard at first, especially as the impulse to work creeps into every vision you concoct. 

I’m certainly not suggesting that work is totally out of the question.  Just try to rethink your idea of work.  For example, say you’ve always wanted to teach but have avoided the vocation because of lack of pay, poor support, burnout, and all the other things typical teachers complain about. 

Why not become a very different kind of teacher?  Focus your efforts on being positive and uplifting in the classroom and around colleagues.  Remember: the idea here is to be creative, to take initiative, to stay motivated, to generate profit, to empower and support others, and to provide value!

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Aug

20

Are You Really an Entrepreneur? The Blogging Case Study

Filed Under Goal Setting, Blogging, Creating Wealth, Internet Business, Business Success | 6 Comments

I read a great definition of entrepreneur recently:

“One who creates value by shifting economic resources from low yield activities to areas where they would be more productive.”

As abstract as this may sound, it hits the nail on the head and provides a great basis for any kind of “entrepreneur” litmus test.

The idea of being an entrepreneur is a popular one, especially in the United States where rags-to-riches stories abound. The very idea of an “American Dream” is often closely linked to successfully deciphering the capitalist code.

Yet, to be an “entrepreneur” in the true sense requires very specific set of attitudes, beliefs and behaviors that are all too often misunderstood. If you’re going to become a true entrepreneur, you’ll need to understand one very important distinction right away-

Self Employed v. Business Owner
For an in-depth look at this critical distinction, be sure to check out The E-Myth and The Cashflow Quadrant.

So, first, what’s similar between the self-employee and the business owner (or entrepreneur)?

Right off the bat, this should be obvious enough: Both own a business and both profit from the operation of that business.

The critical difference rests in the individual’s role in the owned business. Of course, the self-employed individual works in the business and, in many cases, actually is the business. Michael Gerber refers to this difference as working in a business vs. working on a business.

Internet Entrepreneur v. Blogger
Let’s look at one classic example in the Internet business world that continues to baffle me.

I remember starting my first websites after learning about the impressive success of other Internet entrepreneurs with affiliate marketing business models employing easy-to-use blogs as a content management system.

The basic idea here – as in virtually all affiliate marketing arrangements – is to create relevant content that promotes specific ads and then generates a boatload of cash.

Since blogs have become commonplace in the niche marketing world, tons of new bloggers enter the blogosphere each day hoping to claim their piece of the internet-profits pie.

What I find remarkable about this movement – one which I pursued for a brief period in my earliest days of internet business – is many of these “bloggers” consider themselves *internet entrepreneurs.* As we can see, traditional “blogging” is merely self-employment online, even in the most successful cases.

Yes, there are plenty of exceptions to this rule, but I want to be clear: I am speaking of viable Internet business models only – not blogging for pure enjoyment or genuine contribution. I also want to rule out those bloggers who truly recognize the self-employment nature of their work. Hey- if that suits you, then so be it. Some have even effectively combined profit and passion in some very inspiring ways and deserve a respectful nod here.

Also, I certainly don’t want to dismiss blogging as a viable part of an Internet business model’s big picture. Obviously, I find a lot of value in continually contributing to the content here at MindfulEntrepreneur.com and I know it will definitely contribute to my success with future products.

But as I have come to understand the most effective forms of Internet business models, and especially those that most suit my long-term business vision, I have learned to use blogging more for niche profile-building and pure enjoyment than anything else.

As of this writing, I continue to run some ads and affiliate links here. The vast majority of my online income comes from product sales and not affiliate earnings, but I think the ads actually add value to my site for visitors and me. I’m sure this presentation will change soon enough.

Mindset is Everything
I return to this central point again and again, but I do so for good reason: it’s a good point!

Your mindset – that is, how you think about your role in any business – plays a very strong role in determining the ultimate success or failure of your venture. If you constantly see yourself as absolutely essential to daily operations, your “business” will be nothing more than a job. On the other hand, if you manage to remove yourself from the equation, even gradually at first, you will see great long-term results!

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Aug

7

Using Affirmations for Business Success: 5 Steps to Renew Your Goals

Filed Under Goal Setting, Personal Development, Change & Growth, Creating Wealth, The Law of Attraction, Life Balance, Internet Business, Business Success | 1 Comment

Does your business plan resonate with your personal beliefs?

Much of what makes an entrepreneur is the ability to build something out of nothing – to take an idea, believe in it, and make it grow.

The most successful entrepreneurs are those who keep their business running from those tough beginnings to the most profitable and developed stage.

I recently listened to a seminar by Marc Allen on becoming a millionaire. Of course, Marc delivered the talk in his typical “lazy, type Z” style (a manner which I find very encouraging and refreshing within the often high-strung, rah-rah motivational business genre).

In the seminar, Marc emphasizes using affirmations and purpose when building a business from the ground up. I have used affirmations on-again and off-again for several years, but Marc’s seminar inspired me to revisit my own.

Through this process of renewing my personal and business affirmations, I came to understand something very important about goal-setting: If your personal values and beliefs about the world conflict with your goals, it becomes very obvious very quickly.

This is one major point I believe too many people miss in all this “Law of Attraction” and “The Secret” marketing-hype. The aim of affirmations and other such tools is not to simply get what you *think* you want. The aim is to really figure out what it is you want in the first place and then to start moving in the right direction.

As these crucial understandings occurred to me, I began to realize why some of my affirmations just didn’t have the same click anymore. The problem was not the affirmation; the problem was my lack of resonance (or lack of positive energy) with it.

One major key for successful entrepreneurship is to choose a business niche that reflects who you are and what you value. Sure, one day the business may become much bigger than you alone, but you’re the original seed-planter. For the longevity of business growth, the initial planting is crucial.

Affirmations, as Marc Allen suggests using, are a great way to really figure out what will and what will not resonate with you. As Allen points out in the seminar: once you really begin to move in the direction of your purpose, then lots of support starts to suddenly show up (or so it seems, as much of it was likely there all along).

Here’s a quick plan for putting this to work in your own life:

1. Make a list of 10 things you value (prosperity, love, etc.) and narrow the list to the 5 most important values.

2. Make a list of 10 goals (start a business, improve your finances, etc.) and narrow the list to the 5 most important and immediate goals.

3. Write an affirmation for each goal that reflects positive, on-going development (this is key!). For example: “I am now creating a profitable internet business that generates over $500 per day in profit.”

4. Look carefully at each affirmation and revise each to improve the connection between your values and your goals. (Spend just a small amount of time on this now and return to it later once you allow for time to process the affirmations.)

5. Repeat these affirmations to yourself at least twice per day. The suggested times are first thing in the morning and last thing at the end of the day. Try that out if it works. If not, do it when you can. The objective here is to begin processing these all day, so repeat them in your mind when your mind drifts (driving in the car, waiting in line, etc.). Think of these as meditations.

This first part of the process is a bit clunky but immensely valuable. Use these same affirmations for a few days (one week is best) and just see what happens. Again, let your subconscious do the sifting. There’s no need to make any specific effort.

At the end of this initial week-trial, review the affirmations. (How does each make you feel? Which, if any, seems to pop up most? And so on.)

I think you’ll be surprised with how productive this process can be for both your business and your personal life.

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