10 Ways to Achieve Success as a Lifestyle Entrepreneur
Copyright (c) 2006 UpLevel Strategies
Too many professionals struggle with an unhealthy balance
of work and play, as their careers take over the majority
of their time and leave them with little energy to devote
to other priorities such as family, friends, and personal
well-being.
Is there a way to find happiness through a successful
career that will allow you to still enjoy all aspects of
your life? Believe it or not, there is. You, too, can join
the ranks of the lifestyle entrepreneurs.
A lifestyle entrepreneur is somebody who goes into business
– not primarily for financial rewards – but for lifestyle
reasons. Instead of money, the most common motivation of
the lifestyle entrepreneur is a fierce desire for
independence. They desire to work for themselves, and run a
business that is aligned with their lifestyle.
Studies show more and more people are turning towards
lifestyle entrepreneurship. According to the market
research company Warrillow and Co., as many as 90% the
roughly 20 million American small business owners appear to
be motivated by lifestyle more than money. In a 1999 Lou
Harris survey, it was found that money was the main driver
for very few small entrepreneurs and self-employed people.
Instead, nine out of ten entrepreneurs said a desire for
independence prompted them to become entrepreneurs.
Lifestyle entrepreneurs generally have a passion that they
are yearning to turn into a career and my job is to help
show them how to turn that passion into profits.
Anyone can become a lifestyle entrepreneur. It’s all a
matter of perspective. Discover the greatest success that
goes beyond the bottom line—the success of a fulfilling
lifestyle. The following are my ten ways to create success
as a lifestyle entrepreneur:
1. Define Your Value System: What is important to you?
A value is a belief, a mission, or a philosophy that is
really meaningful to you. Whether we are consciously aware
of them or not, every individual has a number of personal
values.
Values can range from the ordinary, such as the belief in
hard work, self-reliance, and punctuality, to more
psychological values, such as concern for others, trust in
others, and harmony of purpose.
In order to succeed as a lifestyle entrepreneur, you must
know what is important to you and honor it both in business
and in life.
2. Define Your Vision: What does your life look like in the
next three years?
A compelling vision can help you succeed, be more satisfied
with your life, and get the most out of your business
relationships.
Numerous experts on leadership and personal development
emphasize how vital it is for you to craft your own
personal vision for your life.
And here’s a tip when you put that vision in writing: the
subconscious part of the brain only understands now - the
present tense - so it is important to phrase your vision in
the present tense.
3. Define Your Mission Statement: Tell the world how your
vision will come alive
In developing your own mission statement, you can develop a
better understanding of the strategic management process
and, more importantly, learn a lot about your own personal
beliefs, values, needs, strengths, and weaknesses. It will
also help you identify personal goals and objectives that
are consistent with who you are and who you wish to be.
A useful mission statement should include two pieces: what
you wish to accomplish and contribute, and who you want to
be – the character strengths and qualities you wish to
develop.
4. Live from Choice: Be willing to accept rejection and
reject acceptance
Your purpose, values, passions and mission create the
framework for you to live from a place of choice. You
determine how your life will be. It is truly powerful. It
is blissfully peaceful.
So what does it mean to live from choice?
Living from a place of choice means to consciously choose
the results you desire, and to take inspired action to make
them a reality. It’s about having the power to say “yes”
when you mean YES, and “no” when you mean NO.
5. Fire the ‘Committee’: Clean up your environment
We all have a committee, whether it be friends, family or
colleagues – or even ourselves - telling us how unrealistic
our dreams are. The committee’s job is to create doubt and
attack our values.
Remember, you are a product of your environment. The
principle of association says that who you will be five
years from now comes down to two primary influences: the
people you associate with and the books you read.
I recommend firing the committee and going with your heart
and a strategic plan. Be more committed to the dream than
to the reality.
6. Create a Plan and Take Substantial Action: If you fail
to plan – you plan to fail
“Knowing is not enough, we must apply. Willing is not
enough, we must do,” wrote the German philosopher Goethe.
Top performers understand that lasting success is a numbers
game: the more action you take, the more results you reap.
Create a plan with results based outcomes.
For example, don’t just jot down “Make Calls Introducing
Business.’ Instead, create a plan that has a result in a
specific time. “Call 10 Influencers in my community and
secure lunch with 70% of them to introduce business and
create a commitment of support by August 1.’
No matter how committed you are to the dream, you must take
action to succeed.
7. Replace the Committee with A Mastermind Group: Surround
yourself with excellence
Great minds don’t always think alike. That’s why the best
leaders turn to mastermind groups - a growing business
phenomenon attracting successful professionals who seek
objective advice, motivation, group synergy and different
perspectives to accomplish their most important goals.
It’s easy to feel isolated as an entrepreneur. It’s
difficult to find peers who understand your challenges and
issues. That’s where a mastermind group comes in.
In a mastermind group, the agenda belongs to the group, and
each person’s participation is essential to its success.
Your peers give you feedback, help you brainstorm new
possibilities, and set up accountability structures that
keep you focused and on track.
Your mastermind group creates a community of supportive
colleagues who will brainstorm together to move the group
to new heights. Think of it as your own Dream Team!
8. You Don’t Have to Be a Superhero: Hire support in areas
where you are challenged
There is no such thing as free. If you bill $100.00 per
hour and spend fifteen hours a week doing administrative
work, you have just wasted well over $1500.00. You could
have spent that time developing passive revenue or making
sales calls. The same is true if you are weak at accounting
or marketing.
Hiring others to do the work that you waste your time doing
allows you the freedom to create more profitability for
your company. You’ll concentrate solely on your business,
not the mundane tasks that are inherent in business. Making
money is what business people do and the more time they
have to concentrate on their business, the more money and
opportunity they will create.
9. Create Passive Income: Generate revenue while you sleep
Creating a passive revenue stream does three things:
Builds your brand and expert status frees up more of your
time because you are not in face to face meetings generates
income literally while you sleep. Passive income includes
things like affiliate programs, referral programs,
infoproducts and pay-for-inclusion communities.
If you are an expert in your field and can answer questions
about how you became successful, then you can launch your
own passive income stream and profit in your sleep.
10. If You Don’t Succeed – Try, Try Again!
Legendary baseball great Hank Aaron once said, “ Failure is
a part of success. There is no such thing as a bed of roses
all your life. But failure will never stand in the way of
success if you learn from it.”
The one great thing I can tell you about failure is that
now you know exactly what doesn’t work. When you come up
against an obstacle identify what went wrong and change it.
Then try again.
In running your own business there is no place lack of
commitment. Remember, there is more than one way to achieve
your success. Find out what works for you.
Whether you currently are an entrepreneur or dream to
become one, embracing these lifestyle entrepreneur traits
has many advantages. You remove the traditional
entrepreneurial stigmas and allow yourself more room for
growth.
So if you’re ready to step forward and declare that you
desire to live a meaningful and wealthy life, then it’s
time to make your move. Shift your perspective and become a
lifestyle entrepreneur today.
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For more information , or to subscribe to receive your
UpLevel Strategies complimentary Business Mastery Success
Kit ($997 Value) filled with countless tips and resources
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