When I started my first online business, I initially invested only $2,000. For a while, I treated it as a hobby in my life. I spent some time on it, but I let other things take priority over it.
I continued as a full time university student. I had a lawn mowing business that I continued on the side. I even continued to receive income from the government.
Once I invested a further $38,000 into the business, that all changed.
I stopped treating it as a $2,000 business and I started treating it as a $40,000 business. In this video, I talk about the difference between treating your business as a hobby and making it a priority in your life.
HOW COMMITTED ARE YOU TO YOUR BUSINESS?
Elizabeth Holmes founded a company called Theranos, which reached a valuation into the billions. Ken Auletta interviewed her for The New Yorker magazine, to catch a glimpse into the approach she takes to operating her business. Pay attention to this part of the article:
“She no longer devotes time to novels or friends, doesn’t date, doesn’t own a television, and hasn’t taken a vacation in ten years. Her refrigerator is all but empty, as she eats most of her meals at the office.”
That’s an extreme level of commitment, but it’s also an extreme level of results. Most billionaires do make an extreme level of commitment to their business. It becomes an obsession.
If you’re not concerned with growing your business into the billions, then you don’t need to give up your life. Still, the results you’ll see in your business will reflect the level of commitment you put in.
If you want to see significant results with your business, you need to make your business a priority in your life. It can’t be a hobby.
HOW TO BECOME MORE COMMITTED TO YOUR BUSINESS
When I invested $2,000 into my first online business, I struggled to take it seriously. The best thing I did was to invest a further $38,000 into the business.
Once I did this, I stopped treating it as a $2,000 business and I started treating it as a $40,000 business. I suspended my university studies, I wound up the lawn mowing business and I cut off my government income. I let my online business take priority. I started spending a lot more time on it and taking it seriously.
You may not need to take drastic action like this, but you do need to be honest with yourself about your level of commitment to your business.
One of the overlooked advantages that MOBE students have is they generally have made a significant level of investment into their business. Our MOBE masterminds are not cheap. When you have invested up to $30,000 to learn how to start and scale your business, you treat it like a $30,000 business.
On the other hand, if you have only ever invested $100 into your business, you treat it like a $100 business.
Only once you take your business seriously, will you take the necessary action to reach the level of results you want.
You can access more beginner business strategies like this one, and learn how to model the “thinking patterns” of the world’s most successful business owners and entrepreneurs, in the MOBE Silver Masterclass. To learn more about the Silver Masterclass, click HERE.