They’ll remind you that 6 million people start a business each year.
They’ll tell you that one out of three of these will fail.
They have no stomach for phrases like “follow your passion.”
But, let’s not fault these grouchy self-proclaimed realists, okay?
After all, building a successful business isn’t for wimps. And yes, it IS challenging at times.
But that doesn’t mean you can’t succeed.
Take me for instance.
I started out soaring high on my crazy-ass music dream convinced that if I built it, then the money, fame and fans would flock to my door.
When that didn’t happen in a month or two, I was crushed.
But then I learned how to build and run a business that supported the work I loved to do.
And when it came time to change my business model into coaching and training, I did that almost effortlessly based upon what I had already learned along the way.
And guess what? I never had to get grouchy or drop my original passion. (In other words, I know what I’m talking about here.)
So, here are 5 truths about building a successful business doing what you LOVE…
1 – Growth is Often Proportional to Investment.
One of the gifts of owning your own business is that you learn how to be financially empowered and how to invest in yourself while creating a high return on that investment.
The old employee mindset says: “Hey, when the company pays for it, I’ll do it.”
As an entrepreneur, if you live in this entitled state-of-mind, you’ll never succeed.
You must learn to see money differently – which means that money is not something you “lose” when you spend it. Instead, you INVEST in your growth and education.
2 – Clarity Trumps Practicality.
One of the most common questions I get from clients is this:
“Do you think my idea is practical, given this crazy economy?”
My answer is based on years of experience. You must decide to do it first, and then you can look at the practical aspects of it. That is the power of your commitment.
“Practical” is often a procrastination device! (Apologies to the sworn skeptics out there.)
Clarity trumps practicality. When someone is clear, and they take action from that place of clarity – then practicality becomes much more do-able.
(One of the “Laws of Money” that I will teach in my free Money Master Class is that “Money Likes Clarity.” Sign up for the training and webinar to get more in depth on this topic.)
3 – Systems are Sexy.
If you are an entrepreneur, you’re probably great at “winging it.”
Only problem is that you live in chaos, and everything on your to-do list is urgent. Keep this up – and you’ll eventually burn out.
Systems require that you step back and look at your daily activities.
Systems require that you ask: “How does this work? How can I make it work better?”
Systems allow you to step away from your work, take vacations, have weekends – and most blessedly, have lots of free space in your mind for creativity.
4 – Ignoring Marketing Doesn’t Make You Humble. (It makes you fail.)
I used to be a fan of the mantra: “Do what you love, and the money will follow.” It’s a beautiful philosophy. And true on some levels.
But I also used it as a way to ignore the business side of my work.
After all, hey, if I’m aligned with my purpose, the cash will follow – then I don’t ever have to deal with it, right?
I’ve since learned that avoidance is not a game plan. Neither is hope.
Just because you’re scared to market yourself doesn’t mean you can’t do it!
When you learn how to authentically market yourself, you’ll never need money again.
5 –Be the Pioneer AND the Engineer.
Your Pioneer self is your right brain. The right brain is far superior when it comes to writing, consulting, coaching, creating programs, training, speaking, and all of the stuff that makes your business great. You will want to go there often.
The problem is that many people ONLY want to live in the right brain. (Hey, it’s a pretty happenin’ place!)
However, your Engineer (your left brain) must play a role in your success. That’s because you need to communicate, strategize, build a team, create systems and do numbers, too.
In other words, a successful business owner is both a Pioneer AND an Engineer. When you understand this, business gets a lot easier.
Leave a comment and tell me which one of these has been your biggest learning curve as you grew your business…?