Financial freedom through an online business is a dream that many have, but few achieve. Is it because not all of us have the necessary conditions to achieve it? Or will it be luck? What most people do not know is that their financial situation is a direct consequence of the information they have acquired during the course of their lives. If you dream of being financially free, you may not have succeeded yet because you have lacked the necessary information to do so. Discover 5 key elements to make a successful transition from your job to a profitable online business.
Financial freedom is the dream of many: to leave employment and establish their own business. Being your own boss, the long-awaited freedom to send yourself one.
However, for many, this dream quickly turns into an unprecedented nightmare:
Instead of working 8 hours a day, you have to work 16 hours, without holidays and often without weekends.
They soon discover that being their own boss doesn't seem so attractive anymore. In addition to doing the usual job, one has to manage the business, promote the products, and provide good customer service, all at the same time.
It is no wonder that 40% of start-up businesses fail in one year and 80% no longer exist after 5 years.
This disappointing figure is mainly due to the fact that most people do not have the skills or knowledge necessary to establish their own business.
That is why it is so important to consider a period of transition during which one prepares and educates for the next new stage. During this period it is necessary to consider the following key elements that will ensure the success of an undertaking.
# 1 Get an entrepreneurial mindset:
Despite the fact that the human being is a creator and entrepreneur by nature, the vast majority of us never develop these skills to their full potential. This is because traditional education does not promote entrepreneurial skills, since its final objective is the successful insertion of the student in the labor market, that is, in someone else's business.
With this in mind, you can begin to develop the necessary skills that a successful entrepreneur needs to have:
- Acquire a personal vision
- Be brave and know how to measure and take risks
- Develop leadership skills
- Acquire financial education
# 2 Create a positive environment
One of the most damaging negative forces for a future business can come directly from the people around us and the environment in which we find ourselves. There will be voices that will constantly tell you that it is impossible to achieve, that you are crazy to think like this and that it is better to stay where you are, since it is a safe place.
Historically all great entrepreneurs and innovators were ridiculed and even persecuted for their different ideas. These reactions are to be expected, even from people very close to us who have the best intentions. However, they can cause us enormous uncertainty in our project and even cause its total abortion.
Therefore, it is vitally important to take action in this area:
- Be diligent in creating a positive environment of support around you.
- Get in the habit of remembering your vision on a daily basis and of not being influenced by others.
- Avoid negative conversations and eliminate harmful influences in your life, if possible.
- Be proactive in constantly educating yourself as an entrepreneur and in the specific area of your business
# 3 Ask for help
Don't try to do everything on your own. It will save you a lot of headaches, time and money if you don't try to invent the wheel again.
There are different ways to involve other people in your endeavor to lessen the chances of failure.
- Mentor: it is essential that you have an entrepreneurial mentor who has already reached where you want to go. Even if you have to pay significant amounts of money for your knowledge, it does not compare to the cost of all the mistakes that will be avoided. If you are lucky, you will have the opportunity to work for a good mentor and learn important lessons that you can then apply to your own business.
- Teachers: It is necessary to continue educating and specializing in the specific areas of your business.
- A person to whom you have to be accountable: Few people know the power of such a relationship. Having to account to someone else for progress made keeps us from getting into the bad habit of leaving things for later. This relationship can perfectly be of mutual benefit in which both parties agree to keep the other informed weekly- or monthly about the goals achieved.
- Form a team: The biggest mistake of every small businessman is that of not knowing how to delegate. It is important that you determine your strengths and allow others to supplement your weaknesses. A team will always go further than a single person.
# 4 Setting goals and objectives:
You must develop a plan of goals and objectives for your business before starting it. It is important to work from back to front, as stated by Stephen R. Covey in his famous "Bestseller", "The 7 habits of highly effective people". (Editorial Paidós Ibérica, 1997)
Most people start a project and "make their way by walking." It is much better to develop a long-term project according to your vision and then
plan all the steps you have to take to make the project happen.
# 5 Action items:
In an online business there are 5 actions that you should be taking concomitantly as your business grows:
- Launch your products.
- Maintain your site: add content, deliver good customer service, technical support if necessary, send traffic to your page, etc.
- Expansion: constantly thinking about how to grow more and create new products.
- Evaluation: Determine what are the mistakes made and how to avoid them in the future.
- Discipline: Do what needs to be done and stop doing the unnecessary.
His ultimate goal is that his income online is equal to his salary. The key is to start small and grow with a project. Then try to implement systems that work without you so you can dedicate yourself to a new project.
If you take the time to apply these 5 elements when making the transition from your job to an online business, it is much more likely that you will not fail and that you will achieve the much desired financial freedom.
