Everyone has thought about it at some point or another. You know, that dream where you’re sitting on the beach in Bali, sipping your pina colada while stacks of money roll in “passively”.
Even if that doesn’t represent what your daily life would look like as an entrepreneur, you want to know that you can make that happen should you so choose.
Getting to that point is totally possible. In fact, it’s stupidly easy to get started. However seeing it through to the end, well, that’s a whole different story.
It takes a certain type of person, with a certain type of personality to become a successful lifestyle entrepreneur.
Today is the day once and for all you find out if you have what it takes.
Read this with an open mind, and with each question, make sure you’re being honest with yourself. Do you have to have every single trait listed? Of course not, but the more you possess, the easier your path to success is going to be.
Is Comfort More Important than Freedom?
The vast majority of people in the western world treasure comfort. It’s unconscious. They don’t realize how much they need it until there’s a chance it might be stripped from them.
When I got started I lived in a $200/month apartment in Bangkok in order to cut down on expenses. It was not comfortable, but it was an adventure. I’m not saying you need to move to Thailand to be successful, but you’ll need to make your own sacrifices. Maybe it’s skipping the annual family vacation this year, or not buying that new SUV you’ve been checking out.
If you aren’t ready to make those kind of sacrifices, then you should consider if you’re committed enough to the idea of being this type of entrepreneur.
I’ll head to a bar and spend $20 on beer with my friends without even thinking about it. But $12 on a new domain that has the potential to make a ton of money? I’ll analyze the hell out of it.
What’s the old adage? You’ve gotta spend money to make money. It’s totally true.
If you aren’t willing to invest in things like your education, business necessities like hosting, domains, themes etc. then you should revisit the notion of this kind of business in a few years.
I’m not saying you have to stop being social. But you’ll need to reprioritize your spending, and make some investments that you may have been unwilling to make in the past.
Are you the kind of person who likes to talk about all of the cool things you are going to do, but rarely actually does them?
We’ve all been guilty of it at some point, we talk about doing the things we’re going to do, but rarely follow through.
Why is that so easy? Because you get 90% of the benefit in terms of response from others, while doing zero work.
“I’m going to quit my job and move to Thailand to start an internet business!”
“That’s SO cool. I wish I could do that.”
Now you feel like the cool kid in school, while having achieved absolutely nothing.
If you aren’t going to actually follow through with statements like this, then you’re screwed. You can’t fake a business. Sure you can fake aspects of it, but in the end if you aren’t making money and can’t support yourself, then the wheels will fall of at some point.
If you’re introverted, are you willing to put yourself out there? If you’re extroverted, are you willing to shut up and do the work?
When you’re working for yourself, you have to learn to master both the introverted, and extroverted side of your personality.
I know so many introverts who repeatedly say they want to build an online business because then they don’t have to talk to people. While every once in awhile that might work, the fact is that most of my business success has been due to offline endeavors.
Attending conferences like WDS or SXSW, Flying to Asia numerous times to meet other entrepreneurs and build my reputation, or even local networking meet-ups – all of these have helped to grow my business.
The more you put yourself out there, the more success you’ll see.
At the same time, if all you do is go out and meet others, you need to have the discipline to pull yourself back in actually do the work. Meeting people is great, but if you never have anything tangible to offer all of those people, then you’re just that person above who is all talk and no action.
Are You Willing to Learn New Things?
No I mean, really willing to learn new skills and ways of thinking. Everyone says they like to do this, but few actually take the steps necessary to get there.
As an example, if you run into a road block in anything you’re doing, say it’s hooking up a stereo, setting up a Facebook page, or building a basic website. Do you search the internet and figure out how to do it yourself? Or do you usually find someone who can do it for you?
If you aren’t the kind of person who likes to take things on themselves and do the hard work to learn how it’s done, you may find yourself in trouble.
Don’t get me wrong, a smart entrepreneur over time will highlight their best assets, and then have other people do the stuff they aren’t as good at. More often than not however, the entrepreneur still has an understanding of how most things in their business are done. You need to have a basic understanding of how every aspect of your business works.
Do you love the perceived security a paycheck brings?
Then you’ll hate working for yourself. I’ll have months that I’ll make 5 figures. I’ll have other months where I might only make $3,000. However, just starting out I was making less than $1,000 monthly and didn’t know when that would increase.
If you can’t handle the uncertainty of exactly how much money you’ll be making in any given month, being an entrepreneur will just turn you into a giant ass ball of stress that isn’t good for anyone.
That said, if you can learn to thrive on uncertainty, and plan your finances a little bit differently then being an entrepreneur is great, because all of a sudden you’re in control. There’s no telling how much you can make. Want a raise? Go work harder.
So how’d you do? Still think this is going to be a good option for you? Keep in mind, this isn’t a be-all-end-all. There are still times where I think a steady paycheck would be nice or when I’d prefer to just sit at my computer than go out and pretend to be an extrovert.
It’s how you respond to those tendencies and how willing you are to work past them that will make you successful.
This week we launched a special accountability program for Location Rebel Academy members. If you’re looking for someone(s) to hold you accountable for your business building goals, this is the best way I know of to do it.
It’s free for a very limited time to current Location Rebel Academy members, after that we’ll be charging any new members a little more. So if you’ve been putting off joining or building a business, there’s never been a better time to hop on board.