The Maths Involved
There are special maths involved in setting up your own business and the results you will accumulate. Two people can set up shop at exactly the same time in the same line of business in two different cities, and each will make a DIFFERENT result from the other guy that started. Do you know why?
- Dilligence – There is a difference in the amount of enthusiasm you bring into your business
- Time invested – There is no DIRECT correlation between time spent and money earned, but HOW you spend your time when you DO BUSINESS will affect how much money you will earn
- How you spend your surplus
Let’s look more concretely at the principles involved.
Dilligence
The way you do business will greatly affect how others VIEW your business. When you’re happy, energetic, give good e-mail replies and do decent business, people will feel like they are in good hands. If, on the other hand you over-do your e-mail checking you end up doing very little – if anything – FOR your own business.
So…
- Dilligence involves an ability to separate what NEEDS more attention and what needs to get thrown out — prioritizing.
- Dilligence involves an acceptance that you can’t pay at the butcher with “good intentions to pay.” Credit is bad for business. First you loose the merchandise, then you loose the client. You already paid for the merchandise so the ONLY PERSON THAT IS BEING HURT IS YOURSELF, AND YOUR BUSINESS.
- Dilligence involves doing your best always FOR your clients. Just as they have chosen you, you should show them you are happy they do business with YOU instead of your competitors.
- Dilligence, finally, is also very much about constantly being in a LEARNING MODE. Listening, adapting, adjusting and keeping everything in prime order for your business to work – today, tomorrow, next week, next month.
IF you implement all aspects above, you are well under way to staying on the market for years.
Time Invested
It won’t be a 9-5 job in the beginning. In fact, you will end up with very little pay if you leave it at subscribing on a hit-and-miss basis with every internet marketeer there is. Many of them may have flashy websites with good design, but their CONTENT is worthless. You won’t earn a single penny from coming onto their list. I have written on that subject here: http://blunck.dk/recommends/online_chaos
Focused attention to things that matter will prove to be the best way to invest your time. Provide the best products for your clients and stick with it. That may not generate “$400.000 in one day”, but it will generate long-term recurring income from happy clients who appreciate what you bring to them…
How You Spend Your Surplus
You should be very attentive to how you spend your surplus. In the beginning reinvesting into more e-books and more business-related things will be in the setup phase, but – even later – having a savings account for “dead months” when people are on vacation can be the difference between in or out of business.
Don’t overspend and never extend yourself above what you are able to handle.
Stick around for more input on getting started and setting up your own business. 🙂