In his excellent book “The 4 Hour Workweek”, Tim Ferriss talked about the concepts of lifestyle design and working remotely.
Owning an online “micro-business” is one of the best ways to control your time, energy, and financial destiny… IF you do things right…
Below are 10 of the biggest mistakes my clients make before we start working together, and how to fix them…
Mistake #1 – Thinking you aren’t “worthy”:
If only you knew how “ordinary” most of the successful people are, you would laugh.
They too have fears, doubts and insecurities.
Many successful business owners are college dropouts.
Many of them aren’t exactly Einsteins either.
And they don’t need to be.
Many people are waiting for someone to anoint them “worthy” of building a business.
Here’s I’ll save you the time:
Right now, I anoint you worthy of building a lifestyle micro-business that helps you fulfill your dreams.
Mistake #2 – Listening to naysayers
Aaaahhh… the critics.
They always come out of the woodwork, when you try to do something important.
Maybe it’s friends and family who tell you the best way to live your life is have a job.
Or, maybe it’s prospects who didn’t like parts of an article you wrote.
Whenever you receive criticism, listen to it.
If there’s advice in there that can help you improve, you can use it.
If people are just being negative Nancies, ignore them.
Conventional wisdom leads to a conventional life.
And that’s not for everybody.
Mistake #3 – Falling for the “get rich quick” promises:
Here’s how I used to “work” online:
I would open my email, see an offer for an information product or software that promised instant riches for doing nothing, I’d buy it, try it, make no money, and give up on it.
Then, I would repeat the process with another product that sounded good.
End result after 3 years: I was $25,000 in DEBT, and feeling depressed.
Here’s how I changed it:
I invested 6 months on a slightly slower but stable profit plan.
The end result was a business generating high 4 figures per month in net profits.
Which option is BETTER?
Which REALLY works FASTER?
We all want to save time and energy. Sellers know that. So, they promise results with no work. That’s how they sell their products.
But, in the long run, it’s much FASTER and a lot LESS WORK to go with a proven, stable process.
Mistake #4 – Not educating yourself:
You have heard the expression “Poor people have big TVs, rich people have big libraries.”
Well, you can still watch your favorite TV series or a movie on your TV (yes, even if your TV is big).
But, you also need to invest in yourself.
Or, invest in online courses from reputable experts who can help you advance your knowledge.
Mistake #5 – Allowing others to overload you with information:
Most people who try to build a lifestyle micro-business online, say they suffer from information overload.
Everybody can put up an article, and pretend to be an expert. And everybody says something different.
Who to believe?
What to do?
The REAL problem, isn’t information overload it’s information FILTERING.
Tim Ferriss uses the phrase “cultivate selective ignorance.” This means purposefully ignoring information that clutters up your mind.
You need to decide what info is relevant to YOU and what isn’t:
Write down a specific plan on what you want to achieve and how. Then,something interesting will happen: All the info that has nothing to do with this plan will now become irrelevant.
Example: Let’s say you only want to promote your online micro-business with free methods. Make a conscious decision you will not read about an irrelevant technique. Nothing about “buying traffic” for now. No books. No videos. No articles. No forum threads. No special reports. No emails. No nothing.
Once you start freeing up “mental RAM”, you will be able to focus much better on what you need to do.
Which brings us to…
Mistake #6 – Not focusing:
One mistake many of my clients make is they try to have 5-10 different projects going at the same time.
The thinking is “If each one of them makes me X, then I’ll be stocked.”
In reality, when you are all over the place, nothing gets done.
Your mind gets pulled in 10 different directions.
There’s no clear path for you to take.
Focus on ONE online micro-business.
After you feel you have done everything to maximize its potential, only THEN, take the lessons you learned from it and apply it to something new.
Mistake #7 – Being paralyzed by overthinking:
Earlier, we mentioned the value of education. That’s the “book smarts” part.
The other part is “street smarts.”
You need a balance of both to succeed.
The ONLY way something will happen, is if you DO something.
Successful business people don’t “fail” – they “test.” They try things out, get results, improve on them, and move forward.
DOING will give you a tremendous amount of wisdom that “meditation” never will.
Mistake #8 – Being a perfectionist:
Perfectionism is the false notion we have infinite amounts of time and energy to do something.
News flash: We don’t.
Barely-passable projects get launched all the time, and they make a small killing online. They are hardly “perfect” (whatever that means). But just by being “out there”, they now become viable options for people to do business with.
Remember: People don’t have any specific expectations from you, so there’s no score card.
If someone gives you criticism, tell people you launched your project because you wanted to get it out there and help people as soon as possible. Thank them for their feedback. Tweak your approach. Move on.
Mistake #9 – Being a workaholic who does everything yourself:
I initially started building an online micro-business, because I wanted to fund my ideal lifestyle.
But… I soon found myself working 12-hour days, for peanuts in return.
I knew what needed to get done, but it was taking me way too much time and effort to do it.
– I knew I needed to build a website, but was getting lost in some of the technicalities.
– I knew I needed to create some content, but writing was burning me out.
That all changed when I discovered the beautiful world of automation and outsourcing.
– I would hire people to create content, inexpensively.
– I would use in-house software tools (essentially custom-made WordPress themes and plugins) to build search-engine optimized websites, just like I wanted them.
If you’re doing everything yourself, you’re doing it wrong.
You got in this business because you want freedom.
Don’t buy yourself another job.
Mistake #10 – “Playing business” instead of “doing business”:
Playing business are things like worrying about technical mumbo-jumbo, figuring out what host to use, researching software etc.
It’s easy to get lost in this vicious circle and convince yourself you are actually being productive. You can waste years of your life spinning your wheels.
DOING business includes things like creating a new piece of content and then optimizing it to get traffic and sales.
You need to stay focused on what REALLY produces results, and spend the most time doing that.
It’s easy to fall in one of the traps above, and keep spinning your wheels.
It’s also equally easy to snap out of the wrong way of thinking, and move forward.
Go get ’em tiger!