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i) Patience & Persistence Are Key To Success
i) Patience & Persistence Are Key To Success
The entrepreneurship route comes with a lot of hurdles ..... it's gonna be tough especially in the beginning when you're still trying to figure things out & no one knows of your existence.
And at this stage, it's kinda easy to give up & go back to your 9 to 5 where there’s ‘safety & certainty' – and that's what most people do after facing some few obstacles.
But I'm here to tell you that, entrepreneurship is a long term game i.e. you might not see positive results in the short run – but if you stick to it long enough, you'll reach the point of great returns ..... and it's gonna be worth it.
But you gotta be patient in order to reach that point – which is kinda difficult esp if you're very hungry for success, but you gotta practice being patient in business.
Not only that, but you also need to be persistent i.e. keep showing up even if you're not yet seeing any pleasing results.
You might not see the importance of those tiny little actions – but trust me, those tiny actions will compound over time.
So it's important to have patience & persistence in business.
ii) Reinvest Part Of Your Profits Back Into The Business
ii) Reinvest Part Of Your Profits Back Into The Business
Often times, l see a lot of beginner entrepreneurs coop a huge portion of their profits & use it to upgrade their lifestyle so quick.
I get it! It's good to reward yourself especially if you've worked so hard for the money.
But if you want your business to grow much faster, you gotta reinvest some of your profits back into your business – so that you can expand much quicker.
And once you've reached a certain level, you can then pay yourself a huge amount – knowing that your business is now stable.
iii) Invest In A Mentor
iii) Invest In A Mentor
Another important thing is to invest in a mentor if the funds permit.
I know most gurus talks about this issue because they try to push you to buy their courses, but I'm not one of them coz I don't sell courses.
Though I don't sell courses, I'm here to tell you that it's good to invest in a proven mentor – so that you can reduce your learning curve by half or less.
Because a mentor is someone who has already managed to achieve the results that you want, and he/she can give you the blueprint on how you can replicate that level of success.
He/she shows you which pitfalls to avoid – thus, saving you a ton of time & money that's required to do trial & error by yourself.
And you can find a lot of great mentors on the internet – just try to look for someone who resonates with you – esp on YouTube.
Consume their free content first, and if you gain some great value from it, then you should probably invest in their mentorship program(s).
iv) Build Systems Where Possible
iv) Build Systems Where Possible
Another important thing is to build systems where possible – so that you can automate your business.
This helps you to run your business hands-off – thus, allowing you to focus on other things.
And there's a lot of tools & softwares out there which facilitates with this process e.g. ClickFunnels – thus, you just gotta find the ones which are relevant to your business.
Thus, if you want to build a passive business, you should probably invest into building systems.
v) Outsource Some Tasks
v) Outsource Some Tasks
Last but not least, you should outsource some certain tasks of your business.
Truth be told, you can't do everything by yourself – because there’s other people out there who're far much better than you when it comes to doing other things.
Outsourcing also allows you to perform more tasks in less time – because you'll be able to leverage other people's time & energy – thus, allowing you to scale much quicker.
Now, I know this might be difficult when you're just starting out & you don't have enough money to hire people.
But once your business gets off the ground, you should probably invest in hiring a team.
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