If you want to make money online, you need to do these 3 things first.
I've been an entrepreneur for almost a decade now. Through trial and error, I've learned a lot about what it takes to be successful online.
As the world has transitioned to online shopping, there are countless opportunities to earn money from the comfort of your home.
It is estimated that 95% of purchases will be made online by 2040.
If you are ready to build your dream business and design a life that you'll never need a vacation from, read this.
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Do you want to start making money online, but don't know which business model is best for you? CLICK HERE to take my FREE 60-second online business quiz!
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Anyone can make money online.
However, not everyone is willing to do what is required to achieve success. If you are ready to go all-in, I want to share 3 things that you need to think about before starting your entrepreneurial journey. If the concept of making money online is new for you, it may feel like it's too good to be true.
I know that's how I felt when I read the book The 4 Hour Workweek by Tim Ferriss. Most of us have grown up in environments where we've been conditioned to believe that success means going to university to get a 9 to 5 job. The expectation is that when we're 65 years old, we'll finally be able to retire and enjoy life.
The Internet has transformed the way that people work. In today's digital world, there are endless opportunities to make money online from the comfort of your home. If you are ready to start designing life on your terms, let's dive into 3 things that will help fast-track your entrepreneurial success.
1. Get Clear On What You Want
You need to get clear on what you want out of an online business and why you want to build one. First and foremost, you must identify which business model is the best opportunity for you to pursue.
There are endless opportunities to make money online, so much so that it can be overwhelming to choose one. However, you will have a higher probability of success if you pursue the right one for you. Knowing which business model is most in alignment with your goals/values will save you a lot of failures.
How much money do you want to make online? If you want to make 7-figures per year, there are specific opportunities that will help you achieve that goal. However, if you just want to make some extra money on the side, the direction that you take will look very different.
What kind of lifestyle do you want to live? Do you want to make active income or passive income? Active income requires that you trade your time for money, whereas passive income requires little work or no active involvement to generate ongoing revenue.
Don't get me wrong… you can still make a lot of money as an influencer, a YouTuber, or a coach. However, if your goal is to become financially free, you want to focus on earning passive income.
What is your long-term vision?
When you start a business you want to get clear on your long-term vision. There are a lot of people online who sell get-rich-quick schemes. Don't be seduced by these false promises. Instead, adopt a long-term mentality and strive to build a passive income stream that will scale and grow over many years to come.
2. Identify Your Niche
An entrepreneur is someone who gets paid to solve people's problems at a profit. It's your job to identify which demographic of people you want to serve. When it comes to identifying your niche, start by writing down a list of skills, areas of expertise, or passions that you have.
If you have a passion for whatever niche your business is in, you'll be more motivated. In turn, you'll be able to grow and scale your business faster. What do you enjoy doing in your spare time? What is it about these activities that make you come alive inside? Answering these questions will help you determine what you're passionate about.
If you try to build a business that you don't have any interest in, you'll lose momentum. This is why a lot of people give up too quickly. From my experience, money is not the best long-term motivator.
I recommend choosing a business opportunity that is in alignment with the vision that you have for your life. This is why I decided to build Project Life Mastery. I love personal growth and development and I wanted an outlet where I could share and help others.
My work fulfills my needs at the deepest level. That is something that money cannot buy. If you can align your passion with your work, you'll have a huge competitive advantage.
Once you've decided on your niche, research entrepreneurs who have already built successful businesses in the niche that you've chosen. Learn from their experiences and model their success.
3. Find An Online Course Or Coach
I recommend that you find cutting-edge courses or a coach that can help you build your business the right way. You want to get access to the best strategies that will give you a roadmap to success.
This is how I have learned how to build an online business. I would not have achieved the success that I have today if I tried to learn everything on my own. To be honest, I probably would have given up. I used whatever money that I had to invest in the right training and education.
Yes, you can build a business through trial and error and figure everything out on your own. However, taking this route will cost you a lot of time and energy. On top of that, it will be very challenging. This is why a lot of people end up giving up on their business altogether.
Building a business is like going into the jungle and trying to find the treasure. You know a treasure exists. However, if you don't have a map, it will be really difficult to find the treasure. You'll likely get lost and run into a lot of dead ends. Eventually, you may find the treasure but it will probably take a lot of time.
On the other hand, what if I told you that I could give you a map to help you navigate your way through the jungle?
You'll be guided down the right path so that you don't take any wrong turns. Even better, imagine that you had a guide that walked you through the jungle to find the treasure. Which option would you choose? I think the answer is obvious.
If you want to make money online, do these 3 things first.
These 3 things will require that you are laser-focused, committed, and determined. If you take action on them and adopt a long-term vision, you will set yourself up for entrepreneurial success.
Making money online can be one of the most life-changing decisions you'll ever make. Go all-in from the beginning and whatever you do, don't quit. You've got this!
Do you want to start making money online, but don't know which business model is best for you? CLICK HERE to take my FREE 60-second online business quiz!