The Invest or Sacrifice Model For Successful Young Entrepreneurs.Sitting by my laptop in Bacolod, I remember a Discussion from friends about money. Most of them are not Entrepreneurs and it is interesting how Most Entrepreneurs, they said were making “big sacrifices” to be where they are. Most of these Entrepreneurs they referred to were successful as a young entrepreneur because they made large risks.
I believe that these people saw these as risks or sacrifice. I saw them as a series of investments, all adding up to a richer perspective of experiences that will somehow be a good pocket to draw decisions in the future.
While I am still trying to find a way in making my business work, I see most of my friend living the employed life, where they leverage themselves. The final results are still to be expected, but let us see, and for now let's talk about Lifestyle Choices.
Lifestyle Choices For Successful Young Entrepreneurs
Not everyone will agree with me – but there are reasons why some people are rich and some are poor!! (well, at least there is in a Freeish, democratic free enterprise society)
6 Lifestyle Choices For Successful Young Entrepreneurs that will mean they are on the right side of the poor/rich devide.
Money
If you are not prepared to invest in yourself, no one else will. I have had to spend money on all sorts of things from, programmers to hosting. You will have to cut back on your personal spending, don’t drive so often, only go out once a week to make sure you have the money you need to bring your site to the level you want it. If you could cut your spending by $100 a week then you would have $100 extra to invest in your website which could earn you a extra $500 or even $1000 depending on your business model.
Time
If you don’t work the hours then you don’t get the rewards, simple as that! It doesn’t come easy, you have to put all your time into your idea and business to make sure it will be a success! Some times you will have to pass up the opportunitiy to go away with friends or to go out in the evening with my friends.
Links for Making the Most of your Time:
Taking It Easy
When you are self employeed and work from home it is very easy to be Lazy but if you want to make it big and make the big bucks then you have to cut this out now! Not tomorrow but today – right this second! When I got home today from playing football I had two choices, to go sit down, relax and watch TV or come up stairs and finish this blog post. STOP BEING LAZY!
Friendships
You have to have people around you that are constantly supporting you and encouraging you in your interests. Especially as an entrepreneur. Because being an entrepreneur can be a lonely journey, as most people are comfortable with their 9-5 jobs and don’t understand how we think. So it is important to make sure we have friends around us that will encourage us and sometimes we have to let friends go that cant get their heads around why we are who we are.
This has effected me sometimes, because my website is called “Retire at 21″ friends like to take the piss and say “As if it could ever happen” and put my ideas and website down. I have had to learn to forget and forgive because if I dwelled on it, it would effect my business and the way I think.
Compromise
You won’t always get what you want, don’t waste your next two months trying to get the perfect domain at a price you can’t afford.
Also you should realise you have to compromise with yourself, if you work 10 hours on Monday then you can go out with your friends in the evening on Tuesday.
Comfort
When life becauses to comfortable you won’t work as hard as you could or should. I have realised this myself lately, I haven’t had to work hard because I don’t need to go out and pay the bills, my parents do! If I was to move out, I’m sure I would find myself working a lot harder to make sure I was making enough money to live on and with that I would see more success.
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