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The Ultimate Guide to Online Business — Part 4

Success mindsets: How to become the type of entrepreneur who makes 6-figures online

Success mindsets: How to become the type of entrepreneur who makes 6-figures online
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You don’t need a ton of time to brecome a successful online entrepreneur. You don’t need a Harvard MBA or some other fancy piece of paper. You just need a computer, an idea, and to overcome these 3 common fears:

  • “Why would anyone pay me? I’m no expert”
  • “But I’m too busy”
  • “But I don’t have an idea”

In this section, we’re going to dismantle all three of those seemingly massive barriers to starting an online business, one-by-one.

The Online Business Wantrepreneur vs. Entrepreneur

Online Business Barrier #1: “Why would anyone pay me? I’m no expert”

So many of us waste our time chasing mythical credentials. We wait for the right day when we suddenly have a certificate from some random organization giving us permission to go out in the world and do what we’re here to do.

And then what? Suddenly we find that degree didn’t open doors or bring in clients the way we thought it would. Now what are we supposed to do?

Let me be blunt:

  • I’m not a Certified Financial Planner, but because of my online business, I’ve helped more people with their money than most CFPs ever will
  • I’m not a “certified career counselor,” but I’ve helped more people find Dream Jobs and negotiate their salaries than almost any of them will (like these Dream Job success stories)

YOU DON’T HAVE TO WAIT FOR PERMISSION.

We don’t have to wait for gatekeepers to recognize us anymore! This old idea of laboring for 30 years, waiting for some fancy Manhattan TV producer or agent to call us, and then “we’ll be successful” is archaic and wrong.

Stop waiting for someone to knight you. It doesn’t matter if you’re the world’s top expert. To become a successful online entrepreneur, you just have to know more than the people you’re helping. If you can help them get results, they’ll happily pay you — and even recommend you to their friends.

Online Business Barrier #2: “But I don’t have time”

If you work full-time, have kids, or simply like having a vibrant social life, it might seem impossible that you could ever have time to start an online business. You’re over-extended as it is!

I’ve worked with tens of thousands of people to start their businesses. I’m talking about paying students who take this very seriously, not looky-loos.

And along the way, I realized one of the most important determinants of success is:

Will you put 5 hours/week into your calendar?

When people say, “I don’t have time to start a business,” they’re not thinking of some smoothly organized calendar system.

They’re thinking about the vague plans with friends sometime this weekend. About how they have to clean the garage. And about how they have that pile of papers in the living room they’ve been promising to clean up for 3 months.

Getting started is more important than becoming an expert. Tweet This

I get it. But until you can step out of the day-to-day and take control of your time, you’ll always be reacting to the rest of the world’s demands on your time.

In other words, you could go another 3 years responding to emails, organizing piles of papers, and cleaning your garage...and still be treading water.

Or you can decide to start at the calendar level and carve out 5 hours/week — just five — to work on something life-changing, like starting a business.

Maybe you don’t even have a calendar. That’s fine — no judgment. But I discovered that once I put something on my calendar, it was “my time” and I protected it.

Successful entrepreneurs make time for their own priorities

You know why I decided to start keeping a calendar? Because I was tired of responding to the rest of the world’s demands without making time for my own.

I know this is a simple suggestion — “add it to your calendar” — but it’s profoundly impactful if you actually do it and stick to it.

When you take control of your time, it’s a total game-changer. No more sighing. No more piles of “stuff” you promised to do.

Besides, with online business, you don’t have to be there constantly working on it. You can set it up once, automate it, then get paid automatically — while you do something else.

Here’s an example from my own life. When I took a vacation to Puerto Rico, my business continued generating revenue:

Even when I took a vacation to Puerto Rico, my online business continued generating revenue.
Ramit hiking in Puerto Rico
1 day’s online sales revenue during my vacation
1 day’s revenue during my vacation

Online Business Barrier #3: “But I don’t have an idea”

We all have something special that we’re unusually good at. If you and I talked for 20 minutes, I know I could find something you’re good at. Maybe you can teach dogs to do tricks. Maybe you’re a great decorator. Or maybe your friends always ask you to fix their computers.

When you say, “I don’t have an idea,” that’s really code for, “I’m waiting for a magical idea to fall down from the sky.”

Ideas are rarely found by thinking. They’re found by doing. Tweet This

News flash: THAT WILL NEVER HAPPEN! Ideas don’t happen to you, you find them!

I didn’t come up with the idea of I Will Teach You To Be Rich one night, staring out at the beach through a rain-drenched window.

And really, is the idea of a personal-finance site really that compelling of an idea? (I’ll answer my own question: No!)

Success almost never comes from a mind-blowing idea. Success comes from a basic idea executed amazingly well.

In the next section of this guide, I'll show you how to find and rapidly test your online business idea.

In the meantime, if you need some ideas, take a look at my most popular report ever: 30 Successful Online Business Ideas. It’ll show you the wide range of opportunities out there waiting for you.

Download 30 Successful Online Business Ideas

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Success mindsets: How to become the type of entrepreneur who makes 6-figures online