It’s taken just over 5 years and three businesses to get to where I am today, a 6 figure WAHM (work at home mum) with a business that I am proud of & enjoy, which allows me to look after my two children. Getting to the 6 figure stage is possible but there are certain principles I’ve picked up along the way I believe are fundamental for success.
If you are thinking about starting your own business, take these 5 principles into account and hold them close on your journey.
1. Knowing the lifestyle you want to create intimately
Notice here I say lifestyle, not business. What I am referring to here is how do you want your day- to-day life to look? Where do you want to be? What do you want to be doing? This is a step that many entrepreneurs miss. They assume that starting a business means they will get more freedom or be able to do the things they enjoy each day but this is not the case. When I started my first product based business I was up until 2AM in the morning packing and sending items. This was not the lifestyle I had envisaged for myself.
It’s very easy to watch other entrepreneurs and their journey and just copy what they are doing. But if you want a different result you need to do something different.
Your business needs to align with the lifestyle you want to create.
2. Holding your vision in mind every single day
Once you have the vision of the lifestyle you are aiming for, hold it firmly in your mind. As you create your business, go through the planning and implementing stages it is very easy to go off track. Opportunities will come your way, unexpected events will come up. It’s up to you to discern the direction you take your business in. With a clear vision about the goal you are moving towards you can always respond to decisions with your vision in mind.
Will saying yes take you closer or further away from the lifestyle you want to create?
3. Creating a solid business model to achieve it
It’s important to spend time learning about business models, I have done a lot of studying and it’s helped me to craft a business which supports my vision. A business model is the framework on which your idea hangs, it is the structure which defines HOW you will go about bringing value into the world through your business. It not only defines who you want to serve, but also how you will serve those people better than anyone else already out there. If freedom is your number one goal there are certain business models which allow for this.
A directory style model is an example of a great freedom based model which we model many of our business packages off. Our latest is Pet Lovers, a directory style website which showcases the best pet accessories and products.
In this model you charge a monthly subscription to product owners who can feature their products on your directory. Users then click through to the vendors website to complete the purchase which means no late night wrapping & labelling for you.
This is just one example of a freedom based business model built with a particular lifestyle in mind. There are lots more out there, get studying!
4. Dropping perfectionism
This one is tough! It’s really hard to put yourself out there but perfectionism is the biggest killer of dreams I know. Feedback is the only way you’re going to improve your service or product and get to the level you dream of and that means getting it out there. If that means putting together a first version of a course in a couple of hours and delivering it as a live class the next day, then do it. The feedback you get from this action will speed up your results dramatically.
5. Treat everyone with respect
The hardest part of any business is winning your first customers. And even harder is winning customers that then become your brand advocates. You need to make sure that you do everything possible to make them happy. Reputation is everything in business so make sure that yours is impeccable. That doesn’t mean you can’t mess up or make a wrong turn. But it means that you should always treat everyone you come in contact with, and especially your customers with respect.
If you follow these 5 principles then you are well on your way to becoming a 6 figure entrepreneur. It’s a path that takes determination, grit and resilience but it is absolutely doable.
Just remember on your way,
“What you get from achieving your goal is not as important as who you become whilst achieving them” Zig Ziglar
