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7 Ways to Make Multiple Streams of Income as a Business Lifestyle Entrepreneur

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lifestyle entrepreneur

In light of all the changes that are occurring in the world, there are many people that desire to make multiple streams of income in their businesses to give them the security that they need. As an entrepreneur, this should always be your goal and it is not as hard as you make think to make it reality in your life and business.

Creating multiple streams of income without trying to use get rich quick scams, or doing something that is completely against your ethics can be your reality after you get clear as to where you want your business to go and how much money you want to make.  

Implementing these 7 strategies will set you up to successfully achieve multiple streams of income:

1. Always have low priced valuable items to sell

These lower priced items is the way that you are going to be able to get your foot in the door to help your potential customers. This will give them a taste of what you are about and if you give them enough value, for a low price, they will be compelled to work with you further. When you are thinking about your lower priced items, your goal should be to turn a customer into a repeat customer.

2. Write a book

To clarify, writing a book usually will not make you rich unless you have a huge following and can get a book deal. But what it can do is help you to have a book sized business card that no one will probably lose or throw away and you will be able to make money off of that same book if it is priced correctly.

A book that is written well and positioned correctly is a client magnet that can generate money from new and existing customers. It also gives you social proof to position yourself as the expert which can also bring clients knocking at your door.

“There is no greater agony than bearing an untold story inside you.” – Maya Angelou

3. Launch a virtual summit

Summits have been known to attract a nice sized crowd while giving you the ability to create multiple ways for you to make money. With a viable summit you will be able to make money upon registration, with partners that you have strategically partnered with, and if you have marketed it correctly and was able to draw in a nice sized crowd, you can choose to sell something during the summit.

4. Create an online course

Your ideal customers are hungry to learn about what you have to offer them. An online course makes it convenient and available. If you record it once effectively and give the value that your customers are looking for, you can use it again multiple times by just updating it by adding the best value and taking away things that are no longer working. Your online course can also be repurposed for other things that you can sell like virtual workshops, mini courses, and boot camps.

5. Start doing bi-monthly, monthly, or quarterly webinars

Webinars are amazing tools for you to make an impact on your audience as well as your pocket book. You can either do a paid webinar or a free webinar offering the people that are eager to work with you at the end an opportunity that they can’t refuse.

6. Create an effective up-sell

Effective up-sells help you give a person what they need that compliments something that they are already getting. Imagine that these people are checking out at a grocery store, they will see your valuable offer that is something that they now realize that they need and want. Think about how many times that you’ve walked into a store and didn’t know that you needed something until you saw it.

Once someone sees the valuable item that you have for sale for a reasonable price, they will have that same spontaneous desire to buy that so many others have also had. Perhaps, you are giving them something for free and you have this great product or service that can go along with it.

This is the perfect opportunity for you to introduce your irresistible offer and give them something priced just right for them to add value to what they already have. This strategy is best accomplished with an effective traffic generating plan. The more traffic that comes to sign up for what you have, the more people that will purchase.

“If you believe in what you are doing, then let nothing hold you up in your work.” –Dale Carnegie

7. Launch a membership site

Membership sites done correctly are amazing ways for you to give value for a reasonable amount and also have the opportunity to make a lot of cash. Depending on the kind of site that you create, members will be privileged to a certain amount of valuable content that you will give them on a monthly basis.

These are usually with no contracts so members could cancel their subscription at any time. The good thing is that if you are giving great value and have a certain amount of members per month, you can build up a lucrative residual income that can bring you security while you build up all of your other streams of income.

The very wealthy have said that you shouldn’t have less than seven streams of income and if you haven’t created your seven yet, utilizing these strategies will help you to get there.

What are some streams of income you have in your business? Leave your comments below!

Image courtesy of Twenty20.com

Hi, I'm Denise Damijo, The Momapreneur’s Business and Lifestyle Strategist. I love helping entrepreneurs with their content plan, marketing plan, and sales plan. You can find me writing for cool publications like this one, Huffington Post, and Thrive Global. I also love cooking up a good business plan, or spending quality time with my family. Connect with me on Twitter: https://twitter.com/DeniseDamijo or on my website: https://denisedamijo.com/blog/.

1 Comment

1 Comment

  1. Muyiwa Osifuye

    May 28, 2017 at 6:48 pm

    A good line of thought you have here.

    I will chip in…

    It is important to add to these list of online activities other offline business ideas.

    There still exists many rewarding brick and mortar business ideas out there.

    Many smart business owners make a cocktail of the virtual and the real.

    For example…you if you have made good profit from an online course, you could take a portion of that and start a manufacturing business or food business arc

    or buy equipment in a needy industry and start an equipment leading business …for doctors,artisans,crafts men

Leave a Reply

Your email address will not be published. Required fields are marked *

Entrepreneurs

7 Days to Success: a Weekly Ritual to Become a Successful Entrepreneur

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successful entrepreneur

We’ve often said there is no exact formula for success. While that’s true, there are some definite steps you can take to move your business in the right direction. If we could put this into some orderly sequence and create a system to follow every day, wouldn’t it be nice?

We brainstormed some ideas and here’s what we came up with. We’re not saying that these seven things are the only things you should do, but if you try one per day for seven days, you might be able to create new habits faster than you think!

Sunday: Planning day

Rest and plan. When things are quieter, take some time on Sunday afternoon to reflect on what you did the week before. After this, brainstorm some “mini-goals” you’d like to see accomplished in the coming week. Don’t try to plan too much at once, just think of the tasks that are the most productive and focus on those primarily. Always “plan in analog” and write them on a yellow legal pad or white paper so you can feel free to mess up and scratch out various ideas without limits. Lastly, “weed your garden” and transfer the best ideas to your “to do” list for the week.

Monday: Implement

Once you have the main ideas you plan to implement, plan the most important ones into your work week. You can spread the tasks out over the various days of the week or do three or four in one week. Focus on the most productive tasks you think will bring in the most revenue and save the others for when you have more time. Write up to six things on your “to do” list that you think you can achieve for each day.

Tuesday: Get up earlier

Though I am a night owl myself, I’ve learned that I can gain much more momentum if I get up earlier in the day and do a couple of important things before the day gets started. This idea has been shared by others in the past in the form of books that recommend that you get five things done before 11am and other similar ideas. We’re not saying that you have to do any certain number of tasks before 11. Rather, it just means you can use the early morning hours to achieve as much as possible to jumpstart your day. This technique may make you feel more productive and inspire you to keep working later to achieve even more.

“One key to success is to have lunch at the time of day most people have breakfast.” – Robert Brault

Wednesday: Focus on branding

Marketing is one of the most challenging things a business owner has to do to get their brand noticed. Yet, many often miss the mark because branding is more important than marketing. Despite what you might think, they are not the same. Marketing is focusing on products and services. Branding is focusing on your business and how it helps people to reach their personal goals. When you focus on branding, you are working on integrating all of the aspects of your marketing plan into one solid strategy which will place your brand in front of more people through multiple platforms and channels.

Thursday: Innovate and create

If you are a product-oriented business, Thursday is a good day to focus on innovation. Maybe you have your “creative team meetings” at another time, and that’s fine. Nonetheless, spend some time thinking about the innovative side of your business and write down some ideas for your next project. Get inspired and think about what Steve Jobs meant when he told his staff, “We’re going to pretend the universe.”

Friday: Evaluate and revamp

It has been said that “a life unexamined is not worth living,” but a business that is not measured is not worth having either. Take one day a week to evaluate how you are doing. Look back at your metrics, your ROI, and your sales on Friday and see how it compares to the week before or the month before and think about where you want to be in the next six months or year.

“Don’t lower your expectations to meet your performance. Raise your level of performance to meet your expectations. Expect the best of yourself, and then do what is necessary to make it a reality.” – Ralph Marston

Saturday: Do something fun

Yes, even obsessed entrepreneurs need a little downtime. Otherwise, what are you doing this thing called entrepreneurship for? Taking a little time for yourself and doing something you love like painting, birdwatching or photography can renew your mind and spirit and get you ready for a new week. Do anything you enjoy that is helpful for recharging your batteries. Get into meditation or check out the Calm app. It can rejuvenate your mind and spirit leading to your ultimate success.

We hope these tips will help you do something each day to move closer to your goals. It’s not so important when you do them, as long as you consider these important areas of your business growth and implement, plan, and evaluate as you go. You’ll do it, one day at a time!

How do you structure your days in order to win the week? Please comment below with some tips!

Image courtesy of Twenty20.com

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Entrepreneurs

5 Things Entrepreneurs Need to Do to Stay Motivated

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how to stay motivated

Being an entrepreneur is the American dream. It’s all about defining your success, paving your way, and living life the way you want. Many of us walked out of a comfortable job because we no longer wanted to be rats in the maze of an employer who manipulated us into fueling their dream. We wanted to create and follow our dreams. But sometimes there are days when you can’t seem to find the motivation to move forward, and that’s when you need a little boost in thinking.

One thing to remember is that there is no “magic solution” for success as a business owner. Every entrepreneur must find their way to create, manufacture, produce, and sell their products, services, and ideas. The way that you find yourself doing this may not be as unique as the concept you have for your business. That’s okay, as long as it works for you and creates the result you want..

As entrepreneurs, we are in a constant state of “flux.” We must always be evaluating, analyzing, and measuring our metrics and our success. We are often in competition with others, but we are always in competition with ourselves. We should always strive to be a better version of ourselves and our business than we were yesterday.

Every successful entrepreneur will tell you that the “daily grind” is what results in wealth and success. The dream is the glamorous part as it’s what keeps you looking toward your goals and keeps you working hard.

Nonetheless, for those days that the daily grind seems hard and your energy wanes, try these 5 tips to stay motivated:

1. Remember the goal and keep your eye on the ball

I like Mark Cuban’s analogy of entrepreneurship being like the game of basketball. In his book, How to Win in the Sport of Business, he points out that having a business is like winning a basketball game. You must always be watching what your competition is doing while keeping your motivation high. Keep your eye on the goal.

2. Do something every day that moves you forward

One of the frustrations of entrepreneurs is that they feel like they are not moving their business forward fast enough. Remember Rome wasn’t built in a day. So just make sure you’re at least doing one thing daily that moves you closer to your goals. It will give you a feeling of accomplishment when the going gets tough.

“Life is like riding a bicycle. To keep your balance you must keep moving.” – Albert Einstein

3. Write down no more than six things to do each day

People sometimes overwhelm themselves by planning too many things to do in one day, and then they feel let down when they don’t get them done. If you limit your primary goals to six things per day, you are going to be more likely to achieve them.

4. Connect with other entrepreneurs and learn their tricks

This is not to say that you need to copy what others are doing, but simply get a sense for what keeps them going and motivated and share ideas. It can help you feel like you’re on the right track with support from others like you with similar goals.

5. Think of yourself as a captain

You are the captain of your ship. You’ll come across crashing waves, massive storms, rocks, and iceberg, but the way you maneuver around them will determine your fate. Always keep your eyes on the harbor and take pride in the fact that you’re in the top 2% of the country by sailing out on your own as an independent business owner.

“If you’re serious about changing your life, you’ll find a way. If you’re not, you’ll find an excuse.” – Jen Sincero

A few other things to take with you on your journey

As an entrepreneur, the goal is what you’re working for, day-by-day, week-by-week because you’ll get there a little at a time. It’s about more than the goal because it’s about the journey. Life is a journey and so is entrepreneurship. The challenges we face as entrepreneurs only serve to make us stronger and better able to handle the storms we face on the sea of entrepreneurship.

Remember the payoff is incredible! It’s the biggest gamble of your life but when it pays off, it pays off huge! Remember the movie, “The Perfect Storm,” starring Richard Gere? He talked about being a swordboat captain and about how few people choose that life, yet the ones who did loved it. They enjoyed the solitude, embraced the challenge and it’s what kept them going.

How do you stay motivated on a daily basis? Let us know by commenting below!

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Entrepreneurs

You Have To Have A Side Hustle (Like Me With My Blogging) – Here’s Why

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This whole blogging thing you see me do is my side hustle.

It’s what I do when I get home from work.
It’s what I do when you’re at the pub with mates on the weekend.
It’s what I do when you’re watching House Of Cards.

Blogging is my side hustle because it’s what has transformed my life and what fills me with passion.
Blogging is my happy place and it’s how I serve the world.

Now many of you reading this have zero side hustle. You’re not passing go and collecting the $200 that comes with doing a side hustle daily. You’re missing out on everything that can come with building something for yourself.

I’m going to get to the point quickly. Here’s why you need a side hustle:

 

You’ll be stuck in your dead-end job forever.

Yes, what I just said is harsh. I said it because it’s true. You’ll never escape that job you hate and that pain in the ass boss that sucks all of your energy away unless you get a side hustle.

Start with what you like doing and then design a side hustle around it. Ensure that at least one action is taken every day. Then, let that momentum build into a side hustle.

Once you have momentum, the aim of the game is to let the side hustle take over from that dead-end job that makes you feel like crap.

 

You’ll never get to travel.

The world is such an amazing place (cliché I know).
There’s no point the world being beautiful and you hearing that cliché if you never get to enjoy it.

A side hustle is what you’ll eventually monetize so that you can work less and play more (i.e. travel).

Travel is one of the biggest regrets of those who are dying. You’ll never get to check back into planet Earth again so you may as well travel while you can.

Build that startup. Launch that website. Record that video. Or, in my case, write that blog post that inspires.

 

You’ll miss those family moments.

A side hustle is designed to give you time and allow you to do more of what you love. That’s what blogging does for me and the same can happen for you.

“Being consumed by a job you hate, so you can earn just enough to survive, so you can impress your boss and people you don’t care about, is the definition of failure”

I believe you can spend more time with your family. I believe you should feel inspired every day and do something that makes you happy. I believe that family is one of the few things in life that we’re destined to cherish.

Okay, that last line was a bit soppy for a bloke but who gives a rat’s – it’s true.

 

You’ll never get to experience the art of fulfillment.

Blogging gives me a sense of fulfillment. I feel like I have done something that matters to me and that matters to the world. If you don’t go and get a side hustle, you’ll never experience what it’s like to be fulfilled.

Being fulfilled makes you feel like the glass is always half full instead of half empty, or worse yet, looking at the glass as empty with a crack in the bottom that was caused by everyone else.

When you feel fulfilled, you find yourself wanting to do things for others. You find giving easier, you want to be a mentor, you want to perform charitable acts, and all round, life is good.

I want you to feel life is good too. That’s why I want you to get a side hustle amigo!

 

***Parting advice***

Oops….I nearly thought that headline read “parenting advice.” Now that would suck because I have no idea about that…haha

No one said this whole side hustle would be easy. You will need to work hard and you’ll have to take action. You may even need to do some soul searching and that’s fine too. My point is that you need to stop delaying and begin building something. The whole construction process I find is better than when you’ve built your side hustle.

It feels good to be in control and to serve others with your side hustle. I want that feeling for you too.

Go out and start your side hustle.

If you want to increase your productivity and learn some more valuable life hacks, then join my private mailing list on timdenning.net

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Entrepreneurs

These 3 Warning Signs Predict Your About to Make a Big Business Mistake

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business mistakes

“Honesty is the fastest way to prevent a mistake from turning into a failure.” James Altucher said this, the multiple bestselling author, and a man who has failed (and overcome failure) more than most. The truth is, mistakes hurt.

Whether it’s your mistake or somebody else’s, it stirs all sorts of fears and worries within you. You start to question yourself. You wonder what will happen next, and what the worst case scenario may look like. Mistakes are NOT fun, but mistakes also play an important role in your growth and success. For as Albert Einstein once said, “a person who never made a mistake never tried anything new.”

So assuming you don’t wish to play it safe your entire life, you must accept mistakes happen. Some mistakes are unavoidable; there to test and teach us. But what if I told you many of your mistakes were avoidable, and by looking in the right places you could spot them before they happen?

Most mistakes begin small; tiny little things that barely register in your day. But because you pretend they don’t happen, disregard them, or make poor decisions on the back of them, these little mistakes grow into big mistakes, which in turn develop into life-altering failure.

Certain mistakes are thrust upon you, and you cannot do much to avoid them. Yet many begin slowly, and by keeping your eyes open you can spot them before they happen. So if you notice any of the following, take note for a mistake may be near.

1. You Become Complacent

One of the biggest warning signs of all is when you grow complacent. You may enjoy the idea of an ‘easy life’, but the truth is you need a challenge. When it comes to growing a successful business, this is never more true. You need to remain motivated. Like a shark, you can never stop moving.

Such complacency lead to Thomas Frank’s biggest mistake of all. As he built ‘College Info Geek’ while still at university, he was always busy. Between studying, blogging, and marketing, he had little time to spare. So as his site grew, he decided to cut back on his studies and take fewer classes. This made sense, as more time spent on his business meant more chance of success. Yet with this extra unstructured time on his hands, Thomas grew complacent.

Instead of growing, his business plateaued. He didn’t feel as motivated, and it wasn’t until he got this motivation back that ‘College Info Geek’ continued its growth.

“If you look around, complacency is the great disease of your autumn years, and I work hard to prevent that.” – Nick Cave

2. You Get Stuck in your Own Head

Although you may surround yourself with people all day, this entrepreneurial roller coaster is a lonely ride. It’s easy to get stuck in your own head, as you work on your ideas, your plans, and your growth. You become so fixated on your work that you shut yourself off to the rest of the world. You become blind to opportunity, mistakes, and everything else.

Take John Corcoran, the co-founder of Rise 25, and a man who has built his career around connecting with influential people. Despite building a successful career in politics, entertainment, and the tech scene, John desired more. He started his own practice, and got to work on his own version of the American Dream.

He worked so hard that he went months without networking and creating new connections. All those relationships he had built during his successful career slipped by the wayside. He condemned himself to a lonely entrepreneurial existence, and had little to show for it.

Sure, he was busy, but did he grow? No! John got stuck in his own head, and it lead to what he described as his biggest business mistake of all. This entrepreneurial rollercoaster is lonely enough as it is, so don’t make matters worse by getting stuck in your own head.

3. You’re Surrounded By “Yes Men”

“Yes” is a dangerous word. If all you say is yes, you’re sure to drown under work, responsibility, and commitment. Yet it isn’t only when you say yes that issues arise, because when you’re surrounded by a bunch of “yes men”, mistakes are often close. Scott Oldford experienced this as he became a well known “web guy” at a young age.

During a period when most of us plucked up the courage to ask that girl or guy to the dance, Scott made large sums of money and won prestigious awards. He had everything a teenager could want, including a group of people who told him what he wanted to hear.

Scott soon lost everything he built, as he began to believe his own hype. He had to start from scratch. Today, he’s doing fine, but only after he lost track of what matters. That’s what happens when you surround yourself with “yes” — it blinds you from what you need to see and hear.

“Say no to everything, so you can say yes to the one thing.” – Richie Norton

Of course, warning signs like these won’t vanish mistakes from your life. Some are unavoidable. Some provide invaluable lessons you need to experience for yourself. But the sooner you nip these mistakes in the bud, the easier you’ll find your road to success.

I learned this from speaking to those who have been there and done it; successful folk at the top of their game. Don’t wait until you make your own mistakes. Learn from those who have been there and done it. And while you do, keep your eyes open for these three big warning signs.

Share with us a mistake you made and how you overcame it! Let us know by commenting below!

Image courtesy of Twenty20.com

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7 Everyday Methods Go-Getters Use to Train Their Minds

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train your mind

A lot of importance is given to physical fitness, yet have you met anyone who says, “I am training my mind?” The world gives so much attention to a pretty package but what about the inside? (more…)

Luke writes about mental wellness and benefits of brain supplements at nootrina. He’s a big fan of Yoga and mindfulness and feels that these two are the real key to mental well-being. Being a foodie, Luke loves cooking and brings several cuisines to bear at his dinner table. He’s looking to improve the awareness about mental health issues and share ways to handle them among people of all ages.

1 Comment

1 Comment

  1. Muyiwa Osifuye

    May 28, 2017 at 6:48 pm

    A good line of thought you have here.

    I will chip in…

    It is important to add to these list of online activities other offline business ideas.

    There still exists many rewarding brick and mortar business ideas out there.

    Many smart business owners make a cocktail of the virtual and the real.

    For example…you if you have made good profit from an online course, you could take a portion of that and start a manufacturing business or food business arc

    or buy equipment in a needy industry and start an equipment leading business …for doctors,artisans,crafts men

Leave a Reply

Your email address will not be published. Required fields are marked *

Entrepreneurs

7 Days to Success: a Weekly Ritual to Become a Successful Entrepreneur

Published

on

successful entrepreneur

We’ve often said there is no exact formula for success. While that’s true, there are some definite steps you can take to move your business in the right direction. If we could put this into some orderly sequence and create a system to follow every day, wouldn’t it be nice?

We brainstormed some ideas and here’s what we came up with. We’re not saying that these seven things are the only things you should do, but if you try one per day for seven days, you might be able to create new habits faster than you think!

Sunday: Planning day

Rest and plan. When things are quieter, take some time on Sunday afternoon to reflect on what you did the week before. After this, brainstorm some “mini-goals” you’d like to see accomplished in the coming week. Don’t try to plan too much at once, just think of the tasks that are the most productive and focus on those primarily. Always “plan in analog” and write them on a yellow legal pad or white paper so you can feel free to mess up and scratch out various ideas without limits. Lastly, “weed your garden” and transfer the best ideas to your “to do” list for the week.

Monday: Implement

Once you have the main ideas you plan to implement, plan the most important ones into your work week. You can spread the tasks out over the various days of the week or do three or four in one week. Focus on the most productive tasks you think will bring in the most revenue and save the others for when you have more time. Write up to six things on your “to do” list that you think you can achieve for each day.

Tuesday: Get up earlier

Though I am a night owl myself, I’ve learned that I can gain much more momentum if I get up earlier in the day and do a couple of important things before the day gets started. This idea has been shared by others in the past in the form of books that recommend that you get five things done before 11am and other similar ideas. We’re not saying that you have to do any certain number of tasks before 11. Rather, it just means you can use the early morning hours to achieve as much as possible to jumpstart your day. This technique may make you feel more productive and inspire you to keep working later to achieve even more.

“One key to success is to have lunch at the time of day most people have breakfast.” – Robert Brault

Wednesday: Focus on branding

Marketing is one of the most challenging things a business owner has to do to get their brand noticed. Yet, many often miss the mark because branding is more important than marketing. Despite what you might think, they are not the same. Marketing is focusing on products and services. Branding is focusing on your business and how it helps people to reach their personal goals. When you focus on branding, you are working on integrating all of the aspects of your marketing plan into one solid strategy which will place your brand in front of more people through multiple platforms and channels.

Thursday: Innovate and create

If you are a product-oriented business, Thursday is a good day to focus on innovation. Maybe you have your “creative team meetings” at another time, and that’s fine. Nonetheless, spend some time thinking about the innovative side of your business and write down some ideas for your next project. Get inspired and think about what Steve Jobs meant when he told his staff, “We’re going to pretend the universe.”

Friday: Evaluate and revamp

It has been said that “a life unexamined is not worth living,” but a business that is not measured is not worth having either. Take one day a week to evaluate how you are doing. Look back at your metrics, your ROI, and your sales on Friday and see how it compares to the week before or the month before and think about where you want to be in the next six months or year.

“Don’t lower your expectations to meet your performance. Raise your level of performance to meet your expectations. Expect the best of yourself, and then do what is necessary to make it a reality.” – Ralph Marston

Saturday: Do something fun

Yes, even obsessed entrepreneurs need a little downtime. Otherwise, what are you doing this thing called entrepreneurship for? Taking a little time for yourself and doing something you love like painting, birdwatching or photography can renew your mind and spirit and get you ready for a new week. Do anything you enjoy that is helpful for recharging your batteries. Get into meditation or check out the Calm app. It can rejuvenate your mind and spirit leading to your ultimate success.

We hope these tips will help you do something each day to move closer to your goals. It’s not so important when you do them, as long as you consider these important areas of your business growth and implement, plan, and evaluate as you go. You’ll do it, one day at a time!

How do you structure your days in order to win the week? Please comment below with some tips!

Image courtesy of Twenty20.com

Continue Reading

Entrepreneurs

5 Things Entrepreneurs Need to Do to Stay Motivated

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how to stay motivated

Being an entrepreneur is the American dream. It’s all about defining your success, paving your way, and living life the way you want. Many of us walked out of a comfortable job because we no longer wanted to be rats in the maze of an employer who manipulated us into fueling their dream. We wanted to create and follow our dreams. But sometimes there are days when you can’t seem to find the motivation to move forward, and that’s when you need a little boost in thinking.

One thing to remember is that there is no “magic solution” for success as a business owner. Every entrepreneur must find their way to create, manufacture, produce, and sell their products, services, and ideas. The way that you find yourself doing this may not be as unique as the concept you have for your business. That’s okay, as long as it works for you and creates the result you want..

As entrepreneurs, we are in a constant state of “flux.” We must always be evaluating, analyzing, and measuring our metrics and our success. We are often in competition with others, but we are always in competition with ourselves. We should always strive to be a better version of ourselves and our business than we were yesterday.

Every successful entrepreneur will tell you that the “daily grind” is what results in wealth and success. The dream is the glamorous part as it’s what keeps you looking toward your goals and keeps you working hard.

Nonetheless, for those days that the daily grind seems hard and your energy wanes, try these 5 tips to stay motivated:

1. Remember the goal and keep your eye on the ball

I like Mark Cuban’s analogy of entrepreneurship being like the game of basketball. In his book, How to Win in the Sport of Business, he points out that having a business is like winning a basketball game. You must always be watching what your competition is doing while keeping your motivation high. Keep your eye on the goal.

2. Do something every day that moves you forward

One of the frustrations of entrepreneurs is that they feel like they are not moving their business forward fast enough. Remember Rome wasn’t built in a day. So just make sure you’re at least doing one thing daily that moves you closer to your goals. It will give you a feeling of accomplishment when the going gets tough.

“Life is like riding a bicycle. To keep your balance you must keep moving.” – Albert Einstein

3. Write down no more than six things to do each day

People sometimes overwhelm themselves by planning too many things to do in one day, and then they feel let down when they don’t get them done. If you limit your primary goals to six things per day, you are going to be more likely to achieve them.

4. Connect with other entrepreneurs and learn their tricks

This is not to say that you need to copy what others are doing, but simply get a sense for what keeps them going and motivated and share ideas. It can help you feel like you’re on the right track with support from others like you with similar goals.

5. Think of yourself as a captain

You are the captain of your ship. You’ll come across crashing waves, massive storms, rocks, and iceberg, but the way you maneuver around them will determine your fate. Always keep your eyes on the harbor and take pride in the fact that you’re in the top 2% of the country by sailing out on your own as an independent business owner.

“If you’re serious about changing your life, you’ll find a way. If you’re not, you’ll find an excuse.” – Jen Sincero

A few other things to take with you on your journey

As an entrepreneur, the goal is what you’re working for, day-by-day, week-by-week because you’ll get there a little at a time. It’s about more than the goal because it’s about the journey. Life is a journey and so is entrepreneurship. The challenges we face as entrepreneurs only serve to make us stronger and better able to handle the storms we face on the sea of entrepreneurship.

Remember the payoff is incredible! It’s the biggest gamble of your life but when it pays off, it pays off huge! Remember the movie, “The Perfect Storm,” starring Richard Gere? He talked about being a swordboat captain and about how few people choose that life, yet the ones who did loved it. They enjoyed the solitude, embraced the challenge and it’s what kept them going.

How do you stay motivated on a daily basis? Let us know by commenting below!

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Entrepreneurs

You Have To Have A Side Hustle (Like Me With My Blogging) – Here’s Why

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This whole blogging thing you see me do is my side hustle.

It’s what I do when I get home from work.
It’s what I do when you’re at the pub with mates on the weekend.
It’s what I do when you’re watching House Of Cards.

Blogging is my side hustle because it’s what has transformed my life and what fills me with passion.
Blogging is my happy place and it’s how I serve the world.

Now many of you reading this have zero side hustle. You’re not passing go and collecting the $200 that comes with doing a side hustle daily. You’re missing out on everything that can come with building something for yourself.

I’m going to get to the point quickly. Here’s why you need a side hustle:

 

You’ll be stuck in your dead-end job forever.

Yes, what I just said is harsh. I said it because it’s true. You’ll never escape that job you hate and that pain in the ass boss that sucks all of your energy away unless you get a side hustle.

Start with what you like doing and then design a side hustle around it. Ensure that at least one action is taken every day. Then, let that momentum build into a side hustle.

Once you have momentum, the aim of the game is to let the side hustle take over from that dead-end job that makes you feel like crap.

 

You’ll never get to travel.

The world is such an amazing place (cliché I know).
There’s no point the world being beautiful and you hearing that cliché if you never get to enjoy it.

A side hustle is what you’ll eventually monetize so that you can work less and play more (i.e. travel).

Travel is one of the biggest regrets of those who are dying. You’ll never get to check back into planet Earth again so you may as well travel while you can.

Build that startup. Launch that website. Record that video. Or, in my case, write that blog post that inspires.

 

You’ll miss those family moments.

A side hustle is designed to give you time and allow you to do more of what you love. That’s what blogging does for me and the same can happen for you.

“Being consumed by a job you hate, so you can earn just enough to survive, so you can impress your boss and people you don’t care about, is the definition of failure”

I believe you can spend more time with your family. I believe you should feel inspired every day and do something that makes you happy. I believe that family is one of the few things in life that we’re destined to cherish.

Okay, that last line was a bit soppy for a bloke but who gives a rat’s – it’s true.

 

You’ll never get to experience the art of fulfillment.

Blogging gives me a sense of fulfillment. I feel like I have done something that matters to me and that matters to the world. If you don’t go and get a side hustle, you’ll never experience what it’s like to be fulfilled.

Being fulfilled makes you feel like the glass is always half full instead of half empty, or worse yet, looking at the glass as empty with a crack in the bottom that was caused by everyone else.

When you feel fulfilled, you find yourself wanting to do things for others. You find giving easier, you want to be a mentor, you want to perform charitable acts, and all round, life is good.

I want you to feel life is good too. That’s why I want you to get a side hustle amigo!

 

***Parting advice***

Oops….I nearly thought that headline read “parenting advice.” Now that would suck because I have no idea about that…haha

No one said this whole side hustle would be easy. You will need to work hard and you’ll have to take action. You may even need to do some soul searching and that’s fine too. My point is that you need to stop delaying and begin building something. The whole construction process I find is better than when you’ve built your side hustle.

It feels good to be in control and to serve others with your side hustle. I want that feeling for you too.

Go out and start your side hustle.

If you want to increase your productivity and learn some more valuable life hacks, then join my private mailing list on timdenning.net

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Entrepreneurs

These 3 Warning Signs Predict Your About to Make a Big Business Mistake

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business mistakes

“Honesty is the fastest way to prevent a mistake from turning into a failure.” James Altucher said this, the multiple bestselling author, and a man who has failed (and overcome failure) more than most. The truth is, mistakes hurt.

Whether it’s your mistake or somebody else’s, it stirs all sorts of fears and worries within you. You start to question yourself. You wonder what will happen next, and what the worst case scenario may look like. Mistakes are NOT fun, but mistakes also play an important role in your growth and success. For as Albert Einstein once said, “a person who never made a mistake never tried anything new.”

So assuming you don’t wish to play it safe your entire life, you must accept mistakes happen. Some mistakes are unavoidable; there to test and teach us. But what if I told you many of your mistakes were avoidable, and by looking in the right places you could spot them before they happen?

Most mistakes begin small; tiny little things that barely register in your day. But because you pretend they don’t happen, disregard them, or make poor decisions on the back of them, these little mistakes grow into big mistakes, which in turn develop into life-altering failure.

Certain mistakes are thrust upon you, and you cannot do much to avoid them. Yet many begin slowly, and by keeping your eyes open you can spot them before they happen. So if you notice any of the following, take note for a mistake may be near.

1. You Become Complacent

One of the biggest warning signs of all is when you grow complacent. You may enjoy the idea of an ‘easy life’, but the truth is you need a challenge. When it comes to growing a successful business, this is never more true. You need to remain motivated. Like a shark, you can never stop moving.

Such complacency lead to Thomas Frank’s biggest mistake of all. As he built ‘College Info Geek’ while still at university, he was always busy. Between studying, blogging, and marketing, he had little time to spare. So as his site grew, he decided to cut back on his studies and take fewer classes. This made sense, as more time spent on his business meant more chance of success. Yet with this extra unstructured time on his hands, Thomas grew complacent.

Instead of growing, his business plateaued. He didn’t feel as motivated, and it wasn’t until he got this motivation back that ‘College Info Geek’ continued its growth.

“If you look around, complacency is the great disease of your autumn years, and I work hard to prevent that.” – Nick Cave

2. You Get Stuck in your Own Head

Although you may surround yourself with people all day, this entrepreneurial roller coaster is a lonely ride. It’s easy to get stuck in your own head, as you work on your ideas, your plans, and your growth. You become so fixated on your work that you shut yourself off to the rest of the world. You become blind to opportunity, mistakes, and everything else.

Take John Corcoran, the co-founder of Rise 25, and a man who has built his career around connecting with influential people. Despite building a successful career in politics, entertainment, and the tech scene, John desired more. He started his own practice, and got to work on his own version of the American Dream.

He worked so hard that he went months without networking and creating new connections. All those relationships he had built during his successful career slipped by the wayside. He condemned himself to a lonely entrepreneurial existence, and had little to show for it.

Sure, he was busy, but did he grow? No! John got stuck in his own head, and it lead to what he described as his biggest business mistake of all. This entrepreneurial rollercoaster is lonely enough as it is, so don’t make matters worse by getting stuck in your own head.

3. You’re Surrounded By “Yes Men”

“Yes” is a dangerous word. If all you say is yes, you’re sure to drown under work, responsibility, and commitment. Yet it isn’t only when you say yes that issues arise, because when you’re surrounded by a bunch of “yes men”, mistakes are often close. Scott Oldford experienced this as he became a well known “web guy” at a young age.

During a period when most of us plucked up the courage to ask that girl or guy to the dance, Scott made large sums of money and won prestigious awards. He had everything a teenager could want, including a group of people who told him what he wanted to hear.

Scott soon lost everything he built, as he began to believe his own hype. He had to start from scratch. Today, he’s doing fine, but only after he lost track of what matters. That’s what happens when you surround yourself with “yes” — it blinds you from what you need to see and hear.

“Say no to everything, so you can say yes to the one thing.” – Richie Norton

Of course, warning signs like these won’t vanish mistakes from your life. Some are unavoidable. Some provide invaluable lessons you need to experience for yourself. But the sooner you nip these mistakes in the bud, the easier you’ll find your road to success.

I learned this from speaking to those who have been there and done it; successful folk at the top of their game. Don’t wait until you make your own mistakes. Learn from those who have been there and done it. And while you do, keep your eyes open for these three big warning signs.

Share with us a mistake you made and how you overcame it! Let us know by commenting below!

Image courtesy of Twenty20.com

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