Entrepreneurship is a unique lifestyle, and not everybody is cut out for it. Yet for those who are, it’s an exciting and rewarding opportunity. While the steps to build the entrepreneur lifestyle for yourself are simple enough, putting them all together and sticking with it can be pretty tough. I recently read an article from the blog Location Rebel, where the author shared his own tips looking back on the eight years he’s spent as a “lifestyle entrepreneur”. Here’s what he had to say:
Take your ego out of it: If the primary reason for doing something is to satisfy your ego and prove yourself to other people, then that’s a problem. There are more constructive ways to invest your time and money. Focusing on other people and what they’re doing is a bad idea. Rather, focus on what will grow your own business and what makes you happy.
Write every day: Content creation plays a large part in being an entrepreneur, especially in the modern digital age. The more you write, the more content gets put out, allowing you a better chance at reaching somebody. Sharpening your writing is a valuable way to reach people online.
Focus on what works: Focusing on one product that actually works is a great way to prevent yourself from being distracted from things that don’t matter, freeing up headspace to make time for things you enjoy. As opposed to monetizing in a bunch of different ways, focus on what’s working best. Nonetheless, things will need to evolve from there, but more on that in a bit.
What got you here won’t get you there: The motto “if it’s not broke don’t fix it” works for AC/DC, it doesn’t work for entrepreneurship. Simply resting on your laurels and not responding to change is a sure recipe for failure in the long term. Just ask Kodak.
Start new things slowly: When things need to evolve (and they inevitably will), or you want to experiment with something entirely new, do so slowly. Don’t worry about monetizing it all in the first year or so, but rather build the brand slowly so you can best track progress.
Get a right-hand man: You need a community of people to lean on for help that can support you during both the highs and lows. Even when you have a successful business, you want to have point person. Working on your own gets lonely, and you often miss things that others wouldn’t.
Be as accessible as possible: Being accessible allows you to build more real relationships with people in your community while also building trust, which inevitably grows business. The author argues that the best way to grow your business is by encouraging interaction every single step of the way. It takes time, and you can’t always be open with your time, it’s a great way to grow.
Play, but do so deliberately: It can be easy to sit down and spend 10 hours at your computer pretending to do work and only getting about 4 hours of actual work done. Try and recognize when you’re not being productive, and find something to do that’s deliberately fun. That makes getting back to work easier later on.
Not everything has to be passive: While passive income is a word that entrepreneurs dream about and love to throw around, it can be easy to become complacent. You never know what might happen, and need to prepare for it. Diversify passive income with freelance work or more active income so that you can protect yourself in the event that something bad happens.
Focus on niches: The Internet is a big place, so to make sure you don’t get lost in the white noise, find niches to focus your attention. The biggest killer to the entrepreneur is indifference. Maybe you create something that’s only a good fit for about 1-2% of your audience, but for that tiny percentage it’s a perfect fit, meaning they’re more likely to pay attention.