I built a part-time online business for 10 years before I chose to retire from my healthcare career, years ahead of schedule.
In this post, I want to provide you with some of my insights and wisdom as to how you can leverage your business to do the same (or leave your job).
You can either read the post or watch the video below.
First, let me tell you about some of the key mistakes which delayed my online business success…
Part-Time Online Business: 4 Mistakes Which Cost Me Dearly
Here are 4 mistakes I made in my business that delayed my results considerably…
- I became a serial learner. I was on webinars pretty much nightly learning business and marketing. But I wasn't implementing much of what I learned. So while I was smart, I wasn't making any money in my business.
- I avoided activities I didn't like. I wanted to play it safe, so I decided I wouldn't talk to anyone about my business but leave it to my marketing to generate business. Big mistake. You see, it's usually the activities we avoid that get the most results.
- I underestimated the importance of mindset. Switching from an employee to entrepreneur isn't easy. It takes practice and more practice. In the end, I worked hard on my mindset and thought patterns. But in the beginning, I was all about the “how to's”.
- I became mediocre at many skills and a master of none. I didn't realize that it is far better to master one skill than to have a general knowledge of many skills. Once I figured that out and mastered just a few key marketing skills, my results went way up.
3 Things I Got Right
Now that I've outlined my mistakes, let me tell you what I got right when it came to my part-time online business…
I understood early on the value of having a coach or mentor. I hired my first coach before I had made a dime and it's paid off ever since. The key is to find someone who's already accomplished what you want to do and can teach it to you. Not everyone can.
I became more dedicated to the process or activity and less addicted to the outcome. When you can do that, rejection bothers you less and you can focus on getting the activity done.
I understood that it's much easier to sell products or services that people actually want rather than trying to get people to buy what YOU want. Huge difference.
PRO TIP: I would say the biggest shortcut to success that I've found is hiring the right coach.
They can save you so much time and money simply by helping you put together a Daily Method of Operation that makes success inevitable.
How To Leave Your Job Sooner or Retire Earlier
While there's no one way to do this when it comes to building a part-time online business, there are commonalities.
Whether you decided to build a network marketing business, an affiliate marketing business, an e-commerce site, or build your business blogging or making videos…
Here are 4 strategies that will make things go easier and faster…
And help you get out of your job sooner or retire earlier.
Understand what people in your niche want and need. Then find products and/or services that can help get them what they want and need.
Follow the 80/20 rule when it comes to learning new skills. Study 20% of the time and spend the rest of the time implementing what you learned.
Find a coach or mentor as early as possible. It doesn't need to break your budget either.
Become known for something specific; otherwise, you'll blend in with everyone else. You can become known as an authority in virtually any niche if you know what you're doing.
When you follow this plan and prioritize the 1-2 activities that make you money (I call these your “money tasks”), your business WILL grow faster.
And you'll be able to move on to greater things in your life.