You’re no exception.
Yet 80% of businesses fail within the first eighteen months.
And especially for lifestyle businesses, your attitude and beliefs can be the difference between its failure or success.
After all, as a lifestyle entrepreneur, you are your business.
These nine beliefs can make or break the success of a lifestyle entrepreneur.
1. Successful lifestyle entrepreneurs believe value is the key to success
Successful entrepreneurs’ businesses have one thing in common:
They provide value to their target market.
The more value the entrepreneur communicates to their target market, the more value they enjoy in their business.
“Success is not what you have, but who you are.”- Bo Bennet
2. Successful lifestyle entrepreneurs believe in building relationships
Successful entrepreneurs recognize that relationships are the key to business.
As a lifestyle entrepreneur, your relationship with clients, industry leaders, and even competitors becomes your bread and butter.
They say that it’s not what you know, it’s who you know. That’s true in entrepreneurship, too.
3. Successful lifestyle entrepreneurs believe in integrity and trust
Have you ever heard the quote: “people do business with people they know, like, and trust“?
It’s never been more true.
Successful entrepreneurs know this and by maintaining integrity in all that they do, they build trust with their target market.
Would you rather do business with your trustworthy neighbor, or the guy who seems to just want to take your money?
The best marketing is being known as trustworthy.
4. Successful lifestyle entrepreneurs believe in the power of focus
It’s better to be great at one thing than okay at everything.
Successful entrepreneurs know that they can’t be everything in their business.
They focus on what they are good at, grow their business with their unique skills, and let others take care of the rest.
Whether that means hiring a team, a virtual assistant, or finding one-off help on Fiverr or oDesk, they know that there are some things that others are better at, and leverage the skills of others.
5. Successful lifestyle entrepreneurs believe that motivation is a dead end
Do you want to know something surprising?
Successful entrepreneurs aren’t always motivated.
Even the most successful entrepreneurs struggle with motivation, but they still make progress when they feel unmotivated.
They build rituals and habits around important actions, so even when they aren’t motivated, they are still moving forward.
Building habits pays compound interest.
6. Successful lifestyle entrepreneurs believe that failure is an ally
Successful entrepreneurs know that failure is how you grow and learn.
We’d all prefer not to fail, but if you don’t fail, it means you aren’t taking enough risk.
Failure is how you develop into a successful entrepreneur.
Successful entrepreneurs don’t let the fear of failure hold them back. They use failure as a tool.
7. Successful lifestyle entrepreneurs believe that competition is healthy
In business school, we’re taught that competitive markets are not good markets to enter.
However, successful lifestyle entrepreneurs believe that competition is a positive thing.
After all, competition means that you:
- – Have found a profitable market, and
- – Can learn from the competition’s errors and mistakes.
Furthermore, competitors can become mutually beneficial allies.
“The best way to predict the future is to create it.”- Peter Drucker
8. Successful lifestyle entrepreneurs treat themselves as an asset
What is your biggest personal asset?
Probably your house, your car, or your investments.
And how do you treat that asset?
You’re kind with it. You’re generous in the time and attention you put into it.
You treat it right.
Successful entrepreneurs treat themselves as their business’ most important asset.
They take time out, fuel their bodies with nutrition, exercise, and take care of themselves. They believe in themselves, and don’t give in to self-doubt or fear.
9. Successful lifestyle entrepreneurs believe that narrow and deep is better than wide and shallow
Successful lifestyle entrepreneurs know that it’s better to find a corner of the market and dig deep, developing expertise and establishing themselves in that niche, rather than picking a wide market and trying to serve everyone.
- They know that their products aren’t for everybody, and they are fine with that.
- They serve their small, narrow niche well, and fight the urge to please everyone.
- They know that by pleasing everyone, you please no-one.
It’s time to start channeling your inner successful entrepreneur
You may have heard some of these points before.
Maybe you find yourself nodding in recognition.
But have you focused on implementing each belief into your business?
Don’t forget that knowledge isn’t power until it’s applied.
So it’s time to start channeling your inner successful entrepreneur and let these beliefs guide your business.
Whether you memorize them or print them out, make these beliefs your mantra.
Every time you are facing a decision, align yourself with these beliefs.
And soon, they will be so ingrained that your gut will guide you – straight to success.