As an entrepreneur, where do you invest? Do you invest in yourself first?
You’ve heard a lot of the buzz phrases – Leaders are Readers, Leaders invest in themselves etc.
Have you actually thought about what that REALLY means? How would you put that into practise and make it work for you?
How do you invest in yourself first?
There are 3 key areas of self investment required to be a successful entrepreneur.
I hope you’ve noticed that I not only share that you need to invest in yourself, but that you need to do so FIRST!
For starters, I’ll share a very basic philosophy with you – and I share this with anybody who asks about what is required in a successful business (it takes care of the get-rich-quick people – very quickly!)
Simply put: Your business is going to be built on a combination of time and money.
You can leverage one for the other to a degree, but you will have to put in both. If you have only a little money, be prepared to put in a lot of time to compensate; if you have a fair bit of money, you can leverage it and spend significantly less time to get to your goal.
Let’s get down to the 3 areas (and they are in order of importance).
1. Mindset:
This is the most important determinant of your success. More than tools, this has been shown to contribute to your success by at least 70%, and that is probably higher. If you come across a truly successful person, ask them what was the most important determinant of their success. Let me save you the time: it will be the belief that they would be successful.
This unwavering belief is what keeps them focussed and persistent till they reach their goals.
As Henry Ford said, “If you think you can do a thing or think you can’t do a thing, you’re right.” So, now that you know this, really spend some time getting motivated and inspired with positive messages. It’ll be well worth it.
There is so much you can get for free on the internet to start off with. Reading Think & Grow Rich by Napoleon Hill was huge for me, and I can validate most of what he said myself. I would suggest to start by reading that book or you can go one better and read the original work from which it was developed, called “The Laws of Success in 16 Lessons”.
You can get that easily AND for free by subscribing to my newsletter on the right side of the page, close to the top. All you need to enter is your email!
2. Time:
You will have to put in a certain amount of time to develop anything. You can’t throw money at it and expect to be an expert right out of the gate. Buying the best golf clubs you can get will not make you play like Tiger Woods if your goal is to be a champion golfer. You still have to put in the practice – day after day after day! There is simply no shortcut there.
You can shorten the amount of time you spend honing your craft by getting a coach, who will ensure you don’t make (too many) mistakes. In your online marketing business, as in any business, it is simply impossible to think you can become successful without putting in a decent amount of time and money.
3. Money:
This is a biggie – it is absolutely not necessary for you to have masses of money to start a business or be successful, but you need to be aware that if money is in short supply, you’ve got to be prepared to put in masses of time to compensate, and as money comes into your business, reinvest it to get to the next level.
Money will definitely help you scale a business faster, but if you don’t have a lot of it, be prepared to do a lot of things yourself.
Why should you be aware of this link? It may take such a long time to get to any level of success if you have very little money, that you may have given up the goal from frustration. It’s important to keep your goal in mind as MOTIVATION (and here is where that mindset training you invested in comes in again – it does pay huge dividends!), especially when you become frustrated or discouraged, which will almost certainly happen, whether you have a lot of money to put in it or not.
Tools to invest in yourself first.
This relates to anything – product or service – that your business offers. Let’s say you market educational products, how could you possibly sell a $5000 coaching product with any degree of success and authenticity if you have never purchased a similar product yourself?
In network marketing, it’s called “Being a product of the product” – there is something about having done the things that you are asking your clients to do that subliminally communicates to them that you have done the very same thing, and that fosters their trust in you and your product.
So, once you have your goal and plan (action-based) in place, you want to put the odds of success in your favour by following the tips outlined above.
Are you still struggling and find there is too much month at the end of the money? Bills unpaid and wanting a bit (or a lot extra) to do the things you need to do and want to do?
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