I interact daily with dozens of people all driven by a common goal to make money online and change their lives in meaningful ways. Among the most commonly asked questions are those focused on whether or not it is difficult to make money online. This is understandable because the Internet can be a very confusing place with so many promises of easy riches and push button profits, it is easy to see why people become discouraged when these programs fail to produce results for the great majority of people who try.
The key to succeeding online is approaching your business objectives with the proper mindset, one that allows you to see the possibilities and determine a path that will lead to your success. There is a transition must be made to become a successful online business owner… a transition I call going from ‘e to E.’
What is e to E?
Understanding the difference between how e = employees and E = Entrepreneurs are paid is a critical piece of the success formula, failure to understand this foundational concept will lead to discouragement and frustration on your journey. Let me go one step further, the lack of understanding of the transition from e to E is responsible for the failure of more budding entrepreneurs than any other single factor.
How are e = employees compensated?
employees are compensated by exchanging time for money, which is usually predetermined based on an hourly rate or salary.
How are E = Entrepreneurs compensated?
Entrepreneurs are compensated as a derivative the problems they solve and/or the value they provide to the marketplace. Typically, the level (or amount) of compensation is proportionate to the size of the problems solved or sheer amount of value provided. Isn’t that a beautiful thing?
Based on this truth, you can understand why you must avoid logging hours when you launch your new business. Forget about the hours you spend and understand that you will likely be under compensated for a period of time. If you refuse to quit you will eventually reach a tipping point and begin to earn based on a whole new set of guidelines. Once you have broken through to the entrepreneurial standard you will earn based on your true worth and not as a result of the number of hours you work.
What do you mean by hard?
Understanding the degree to which you are willing to sacrifice to achieve your dreams is another critical piece of the success formula. I have always believed that the definition of ‘hard’ is an individual one and is directly tied to your mindset. So what if it is hard…what matter is whether or not your dream worth it to you.
Here is a short video that might change the way you see your world and redefine the meaning of the word hard in your life. This video changed me, I already possessed a strong mindset toward self-sacrifice and hard work… yet this still caused a change in my perception of challenges. (Click on the title link above to watch the video and read the full article)