When starting a business, it can be difficult to know what to prioritize, and going it alone can be overwhelming. However, there are strategies you can use to avoid common pitfalls.
My mission is to teach people how to make money from their passion. that’s what i did. Life on food stamps has led to building two online businesses.
I currently run a music blog. recording revolution,and Entrepreneurship coaching companyI work only 5 hours a week from my home office and earn $160,000 a month in passive income.
Here’s what I want my 3,000 clients to think in the first 30 days of their business.
1. Be clear about how you want to spend your time.
Many new business owners I meet know only one thing.
This is a great starting point, but it’s incomplete. Your business should serve your life, not the other way around. So make sure it aligns with your hopes, dreams and goals.
To clarify the type of business and life you want, ask yourself these three questions:
- What would a perfect day look like for you? Don’t just think about a typical workday. Consider other life activities you want to fit into your day, such as exercising or spending time with your family.
- How many hours a week would you like to work? You don’t have to follow the standard 40 hour work week. Knowing exactly when you want to work allows you to better prioritize your tasks.
- How important is your time off? Some people don’t really care about taking vacations as long as they love what they do. Some people value long vacations. You need some passive source of income for the money to flow in when you’re not working.
2. Simplify your business model.
When I started my music education business, people told me that I needed to test sales pages, have launch parties, and pre-record lots of ads to grow.
Instead of reaching for things that didn’t make sense to me, I kept it simple and focused on three things: Create weekly content for your blog and YouTube channel, grow your mailing list from that audience, and promote your paid products. created on that list.
If you’re just starting out, grow your audience by creating content based on your expertise. It doesn’t have to be perfect. You can iterate as you design new products based on what your customers want more.
3. Cut unnecessary routines.
Identify daily activities that help you earn more money. Don’t waste time or burn yourself out by focusing on unimportant tasks.
Especially in the early stages when you want to feel like you’ve achieved your goals, zeroing out your inbox or changing the color of your website buttons might make you feel better. But neither make money.
Before starting a new task, ask yourself these three questions:
- What is the expected result of running this task?
- Will it lead to more money?
- Can you point out the direct link between doing the job and earning an income?
- What is the cost of doing this instead of something else?
4. Prioritize having fun.
People can see if you’re just doing something for money or if you really love what you do. I will support you
You don’t want to burn out because you spend all your time doing something that doesn’t mean anything to you.
I always teach my students the following framework as they begin their entrepreneurial journey. For her next decade, build your business around what you think you do and enjoy.
Graham Cochrane Founder of The Recording Revolution,How to get rewarded for what you know“He has helped over 3,000 people start and improve their businesses. Follow him Instagram When twitter.
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