How do you become a successful entrepreneur? What are those essentials needed to be an authority in your field?
With a successful online business, you can work anywhere, anytime using a laptop and an internet connection.
It opens you to a life of freedom and success. And all you need is to set up a system that keeps working for you 24/7.
When young minds set out to start an online business, they become one of these two.
A well-organized, successful online entrepreneur. John works with a few clients and they pay him high for his excellent services. John spends the rest of his time with his friends and family.
A shabby-looking, struggling entrepreneur. Because of works from low paying clients, Doe looks stressed and is older than his age. He has no time for his family, not even himself.
Which of these entrepreneurs do you want to be? John or Doe?
I am here to guide you on ways to avoid my mistakes so you move faster and are happy.
For this reason, I will not discuss the technical aspect of successful online business rather the psychological need.
So let’s begin…
How To Become A Successful Entrepreneur
Choose Between Passion and Reality
At a point, you will struggle between what you love (passion) and what pays (reality).
“Should I go full time on self-development or on web designing?”, I asked.
In my early twenties, I suffered from answering this question
Are you having similar issues? Then, your major thought would be like:
- Do what you love and hope it turns out well and pays your bills.
- Do what pays with the promise to return to passion once you make money.
None of these two is good. The problem is that sequencing our life hardly works.
You might do what you love, pour in your passion, and still not be successful if that’s not what the people (customers) want.
You can as well do what is paying, make the money, but full of regrets at the latter ends of your life.
So, how do you become a successful online entrepreneur?
Apply the principles of work-life balance.
Spend your morning working on your business and your afternoon working on your passion.
Your passion should not wait until the day you think you have all the money you want. That day may never arrive.
Also, your business should not wait for passion, else it dies.
Also Read: 9 Online Business That Pays Daily
Motivate Yourself in the Face of Challenges
In the journey to become a successful online entrepreneur, life will throw many stones at you.
When I got into web design and digital marketing business, I didn’t know it will be hard
I was not told it will take time to perfect the skill and to attract large client via search engine optimisation.
You will meet with some die-hard clients who will want things on their own terms. Yet, there is nothing you that will satisfy them.
It is the more reason I stopped offering custom web design services. It is one of the easiest way to burn out.
To me, it became a normal thing to hear, “I will get back to you” or “Sorry, I am not interested in your service.”
So, if you must build a successful online business, then get used to rejections.
If you take things personally, you stand a risk of depression and high blood pressure.
Always remind of the good days you have had in the past and the better ones to come.It keeps your head high and gets you moving.
If an entrepreneur like me can become successful both online and offline, you too can be.
Strive For A Work-Life Balance
As you work towards becoming a successful entrepreneur, you will develop a feeling you are not doing enough.
There are days when you will work from 8am to 12am on things you don’t like.
So as you journey to becoming a successful online entrepreneur, I tell you to know how much you need each month.
If you don’t, you will keep working and not know when to stop. Of what good is the money you have that you can’t enjoy?
I work from 8 am to 12 pm. Afterward, I enjoy the rest of my day.
Don’t fall into the trap of “I am always available”. It is a sign of inferiority complex and indiscipline.
Let clients know hours they can call you.
The evening and weekends are the best time to work on yourself. Make it personal. Hang out with your friends. Spend time with your family.
Your wealth is how long you can live without working. This means having excess savings investment returns.
Working harder is never a solution to becoming wealthy, as not all money is equal. Working smart on the right thing is the key.
My dream of becoming a successful online entrepreneur was not only to earn but also for the freedom that comes with it.
It is dangerous to give control of your life and time to making money.
Resist the temptation to work more at your own expense – Health, Time, and Joy. Instead, cut down your expenses and choose your clients.
And last, don’t forget to automate most of your work so you don’t keep doing the same thing again and again.
Take Good Care Of Your Health
Working from home can be dangerous.
I remembered spending 36 hours sitting at a stretch designing a website. May I never repeat such days again? Never!!!
Because now I realized it was not worth it. Those sleepless night doesn’t worth it.
When you ought to rest, you want to keep working. And trust me, it is the fastest way to misery.
This gives room for clients not to respect your working hours. They call whenever they want.
If you are not conscious, you will experience one or two of these:
- Bach ache from constantly sitting
- Eyes problems from screen brightness
- Repetitive Strain Injury from typing
Your body needs enough sleep to function best.
One way to achieve this deep sleep is to avoid all screens at least an hour before you go to bed.
My phone automatically enters bedtime mode and goes silent once it is 9pm. This way, the screen looks horrible to view and as such forces me to sleep.
If you need the phone, you can get it here.
That you want to become a successful online entrepreneur doesn’t mean you sit all day in front of the computer. Go out and have fun!
Increase Your Productivity
Enter your power of productivity by breaking your works into bits.
The secret to getting things done has never been about intensity but consistency.
Do a little at regular intervals and you will notice you have better work than he who wants to do all at once.
Another good reason for taking breaks is to help you pull out from your imagination so you see the work as it is.
This will enhance more work flow and give you better ideas – reason I don’t edit the same day I write.
I recommend you have a 5-minute break for every 25 minutes of work. It is the law of 5/25.
Also, eat nutritious food and stay away from junk. The closer your food is to the soil, the better.
Yes, eat more of protein to increase your energy level. I discovered anytime I eat carbohydrate in the morning (especially rice), I get tired earlier than normal.
Also, learn to prioritise your work.
For example, if my goal for the day is to write a blog article and design a website.
I will complete the writing first because it needs more mental energy than designing.
Upgrade Your Tools and Looks
Henry Ford said
If you need a machine and don’t buy it, you will ultimately find that you have paid for it and don’t have it.
I asked an uncle of mine, “Why do you buy this expensive car? I mean you don’t need it”
Him: Yes, I don’t need it for my personal life, but I need it most in the corporate business world.
Me: What do you mean?
Him: Don’t you know with your appearance, clients conclude your pay even before you bargain? This car as enlarge my status and earn me more than I bought it.
That was an eye-opener to me that day.
Pay close attention to the battery, processor speed, screen display and punchy keyboards.
Also, keep your home office clean with fewer items on your table.
Arrange your office for the successful online entrepreneur you want to be tomorrow.
Never underestimate the power of a good laptop.
Choose Who To Work With
Entrepreneurs feeding on clients’ pay are like employees working for a salary. While they have an employer, you have clients. Both are bosses.
A client wants you to complete his/her project in the shortest time possible, with no regard for your plans.
Some clients will be rude and difficult to work with. Some find it difficult to pay you. Or may stop the work halfway.
And so you need to set up your work ethic and policies. Let them know about it.
The key way to simplify your life is to turn down clients’ work, not in alignment with your values.
You may lose the job too but you will have their respect and save yourself future crisis.
So how do you know the right clients? There is no perfect way. But your first meeting with a client speaks more.
When clients pay too much attention to the price at the very beginning of our discussion, it doesn’t end well.
A real client will talk first about values you offer. He/she may then go further to negotiate the price. But the value will always come first.
Specialise Your Offerings
Generalisation has eaten us deep in entrepreneurship that customers/clients cry to have quality work.
If the work given to you is outside your field, say no to it. And refer to someone who can do it.
It will disappoint to think you can learn what it takes to get the work done. Don’t use your clients’ work to learn.
Someone called me a day requesting a service. I told him I don’t do that as it is not my field.
I then referred him to a business colleague who specializes in this service.
It surprised the man. And he responded, “So, there are still truthful people living in this nation”
Is it I can’t do the work if I want to? No. Yet, no matter what I do, it can’t be as great as the one from my friend.
I recommend you niche in your expertise. Rather than being a digital marketer to all.
Why not be a digital marketer to a specific industry?
Rather than building all kinds of website, focus on building a particular type of website.
Go Straight To Business
I made a mistake in the early days of working with clients. I allowed too much communication, forgetting business is business.
Sometimes I will be on call with a client for 2 hours (I am serious).
I thought I could gain the client’s trust this way. But I was wrong.
And in the end, the clients wouldn’t still proceed with the project.
Keep communication simple and straight to the point.
No family problem and personal discussion. If they need someone to talk to, they should go see a counselor.
All this is so you have more time and energy for the online business that pays the most.
Underpromise And Overdeliver
Another way to keep the pressure low on you is to only promise what is in your control.
I can promise a client a website with a clean interface and fast speed. Both are within my control.
Promising a client that I can get his/her website to rank number 1 on Google in two weeks is no good.
That’s unrealistic because the Google algorithm is not within my control.
Also promising a client 20 articles a week is no good for me because I know it’s beyond my capacity.
So make it clear what you do, and what you don’t do. Arrange these services in packages.
Apply For Jobs
I don’t support having your business as your only source of income, especially in the early stage.
If you do, you may soon turn needy to those who need you – your clients.
If you seem not to be having a lot of work to cater to your needs, get a job.
Yes, Job. Preferably part time and remote.
You are taking a job for two reasons: to raise money for your business and to gain needed experience.
Which means getting a job related to your business is of significant benefit to you.
Visit any of the freelance websites in Nigeria to apply.
Conclusion On How To Be A Successful Entrepreneur
As you have seen, to become a successful online entrepreneur is more than learning SEO, Web design, and the rest.
You need to be an excellent student and an action taker.
This is the time to work on yourself and get your message out there. Start today!
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