Money is freedom.
Self-actualization, art, travel, spiritual development, mountain climbing, raising a family or whatever makes you happy can be fully realized once financial independence is secured on your own terms.
Otherwise, the burden of income is forever biting at your heels and preventing you from full immersion and maximum enjoyment.
Independence is critical for those who want to escape the 9-5 office world completely. But it is also critical for those on the career path.
Maybe you love the structure of working for a corporation, climbing the ladder and being a part of a team.
In that case, building a FAT investment nut through minimalistic living and aggressive saving gives you independence of mind.
Simply being ever-presently aware of your growing small fortune, allocated properly in appreciating assets, will grant you super confidence in your dealings with office politics. It is like a magic talisman you carry with you.
Now you have the option to quit. A man with options is a man with power.
You are not beholden to your boss and his power over you is diminished.
You start speaking up and taking more chances.
Without anxiety you negotiate a promotion, working from home or a better salary.
Unconditional confidence and positive attitude gets you noticed within your company.
Now that you don’t need more money from the company, you are far more likely to get it.
Like a woman is attracted to a man who appears to have a lot of options in the dating pool, management takes care of those who give the polite impression that they could leave at anytime.
It is hard to fake this kind of confidence without a stash, but some people pull it off.
For the rest of us, we want to run our own show and leave the salaried life entirely.
When your best hours are spent in an office working on someone elses dream, it is difficult to work on your own dreams.
When you are surrounded by flattened souls with no higher aspirations, it is difficult to entertain big ideas and develop yourself spiritually.
When your mind is loaded with the idle chatter of the workplace, it is difficult to explore the depths of your creativity.
Abstract Business Mind-Set
- Identify something you can provide that people will pay for.
- Verify demand in the market through testing before you get started.
- Choose a direction to connect with your target customer.
- Take ACTION on your idea.
- Commit and follow through.
- All of your time.
- All of your effort.
If you have verified demand for the product AND you can do a better job than the competition AND you have a means of connecting with your customer… then success is virtually guaranteed.
Your dedication to make it happen is all that stands in-between.
The idea is nothing, the execution is everything.
Most businesses fail because of a lack of sales.
Get the basics in place and get on the phone, start knocking on doors, posting on the web, sending out mail etc.
Getting your first, tenth, one-hundredth sale should consume most of your time in the beginning.
This mindset is critical because to find out if there is a significant demand in the market before you invest time into perfecting your product or service.
If it is an internet business, then you can test things before you start selling.
Assuming your idea is viable, a lack of sales is almost certainly attributed to a lack of commitment.
Most people fail because they don’t want success bad enough.
If you are dedicated, you will try everything and find your way to success.
You will fail a thousand times and get up again.
You will become completely obsessed to the point of madness.
Business Viability Questions
- Is there demand for my product or service?
- Can I test for this demand before I get started?
- Am I targeting a local market or a global market? (mowing lawns vs. blog)
- Am I able to compete in the market?
- Do I possess the skills necessary to create this product or provide this service?
- Can I get started right away? Is it easy to start?
- Do I have a competitive advantage in the market?
- Will I need employees to become profitable? (No!)
- Who is my customer?
- Through what medium do I reach them?
- What is my average sale in dollars (roughly)?
- Am I trying to sell something small to a great number of people or am I selling something major to a niche group at a premium? (McDonalds vs. Ferrari).
- After I have built my business to generate a monthly income in line with my goals, how much of my time investment is required for me to maintain at that level?
- If the business is a success, am I able to scale it easily to reach new markets?
Teaching for Dollars
So you have the spirit to create a business but no capital.
The surest way to get paid is providing a service-based business or consulting as a subject-matter expert.
Pay is project-based or hourly for your time.
Whatever you are good at, someone else wants to be good to.
If you have above average experience in weight training, piano playing, computer coding, excel spreadsheets, dating, foreign language etc. … then you have a competitive advantage in the market.
“But there are million guitar players – why would anyone want to take lessons from me?”
They wouldn’t, unless you give them a reason to.
You need to have an angle that makes you unique. Anything to stand out against the vanilla.
Your teaching style needs to have style.
Other than that, it’s just a matter of marketing and selling which is what 90+% of your “competition” is neglecting because they aren’t business minded.
That model, properly executed, is the most straight-forward way to build a significant independent income stream on the internet or in your local market.
Use what works for sales and get rid of everything else.
Under promise, over deliver and never take your client’s for granted.
Whether the product is yourself or a lava lamp it needs a brand.
Symbols are powerful and create their own magic.
Brands like Starbucks and Apple are branded in your head forever.
Your brand must be congruent across all mediums.
The pillars of business are finance, marketing, strategy and organization.
They all must be considered for major success to be realized.
Unless you have an exceptionally brilliant idea, it takes time to build a book of business, web traffic or an audience. It is an uphill battle for the first six to eighteen months.
And most importantly, be productive with your time… not just busy.
The rest is up to you…