Build your wealth part-time! Here is the last installment of my three-part series Before You Quit Your Day Job. In Part One, I told you not to get seduced by the sexiness of quitting your job. Part Two, I gave you five steps to Get Your Financial House in Order. In Part Three, I will give you five more steps to take plus a bonus step so you will succeed in your business before you quit.
Build Your Wealth Part-Time
If you missed Part One and Part Two of Before You Quit Your Day Job the links to the posts are in this article. This is your foundation for making your great escape from the world of jobs.
Do Something You Are Awesome At
I have seen many home business owners join the wrong business due to the promises of riches. Selling lotions, potions, and magic notions is not smart if you don’t like pushing those products. I have seen real estate agents fail for years because they hate selling, showing houses, or writing out contracts. People start blogs and hate to write. Don’t waste time in the wrong business.
Here is a hint you know what you are fantastic at. If you don’t, ask your wife, partner, or close friend. You excel at something and you can make money doing exactly that. I write, speak, and succeed in my business because the core of my business is writing and speaking. I grew my internet business by writing and speaking. Find your awesome and do it.
Put in the Reps
The fact is it takes time to prosper in business. It took time for you to learn how to ride a bike, learn how to drive, swim, heck it took time for you to learn how to do your job. It’s the same for your business. Those stories you hear about people who hit the jackpot in 90 days, those newbies who made six figures in six months, they put in the reps.
If you examine the successful people they struggled early in their businesses. They put in the reps with failed companies, failed businesses, lost sales, and bad products. Furthermore, they lost money on marketing and product launches, and sometimes they just had bad luck. They went through the grind.
Practice, practice, practice. Put in the reps in getting better at your business. When you keep your day job you can choose the people who you want to work with and what products you want to promote. When you have an income you have the time to learn and fail. Losing a deal doesn’t determine if you can eat this week.
You will mess up, you will forget to put the right website link in your email, and those marketing campaigns will fail before you find the right one. There will be days without working on your business. You will miss important meetings. Stuff happens. That’s why we practice. Athletes put in the reps, and entertainers put in the reps. You need to put in the reps.
Find 30 minutes every day to work on a skill that will bring in the cash flow to your business. If you are a blogger write blogs. Learn one marketing technique and master it. Learn how to sell and enhance your talents. Put in the reps.
Find A Successful Business Model
Make sure you put in the reps with a successful business model. To succeed you need to follow successful people. Franchises are the most successful forms of business because they have a proven method of success. 67% of franchisees succeed with their business. They follow a model. You need to follow a model.
98% of home businesses fail to make $100 a day. Easy entry fees make it easy to quit and move on to the next big thing. Tired of starting over. Stop quitting. Keeping your day job allows you to find a proven business model system that fits your talents and strengths.
Marketing is the Key to Consistent Cash Flow
When you find your business success system make sure it comes with a marketing plan that you can afford and implement. Marketing brings in the sales. Marketing promotes your brand. Your job will provide the money for your marketing. Are you getting the theme here? Marketing is the fuel that keeps your business cash flowing.
Focus most of your energy on marketing and sales. You must bring in the traffic to your business and get eyeballs on your websites, social media accounts, emails, and videos. You must bring people into your storefront whether it’s online or offline.
There are hundreds of marketing strategies, techniques, and systems. You can’t use them all or afford them all. Find 3-5 techniques and master them. You can outsource the rest later.
Winning With Personal Development
To build your business you need to build yourself. Spend 30-60 minutes every day on personal development. Find a skill you want to learn and attack it with gazelle-like intensity. There is a lot of downtime where you can read a book and listen to audio. Focus on marketing, self-help, personal finance, investing, and anything related to your industry.
Leaders are readers. With smartphones and tablets, there is no excuses as to why you can get your personal development in. Work on becoming an expert in your field. Read, listen, act, and repeat. Don’t be a jack of all trades. Master one thing at a time and you will grow yourself and your income.
Bonus Step: Join a Mastermind Group
Surround yourself with a group of successful entrepreneurs. Join a mastermind group of like-minded people who want you to succeed. Learn from business owners who have been where you want to go. Success leaves clues. Being around people who share the same goals will help you achieve your goals. Find a Toast Masters International group or an online community.
Conclusion
Sounds like a lot of hard work and discipline. Well, that’s because it is. This will take sacrifice, it will be painful, and you will need to drop some balls you are juggling. Be in “like” with your job because it will lead you to success in your home business.
Here are the 10 Steps to do Before You Quit Your Day Job:
- Keep Your Day Job
- Create a Cash Flow Plan
- $1000 Emergency Fund
- Pay off All Non-Mortgage Debts
- Fully Funded Emergency Fund 3 to 6 Months
- Find the Right Business
- Put in the Reps
- Find a Successful Business Model
- Marketing is the Key to Consistent Cash Flow
- Winning With Personal Development
Before you quit your day job count the cost of money and time lost if your business failed without these 10 steps in place. Implement these ten steps before the sexiness of quitting lures you away. When your business is consistently cash-flowing, you have paid your debts, and you have a fully funded emergency fund you can announce to the world you are quitting. Make a YouTube video, put it on Facebook, and make it a part of your success story.
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