Yesterday we started talking about how you can sack your boss, start a business and be a millionaire. We talked about how you needed to believe in yourself and the steps to take to ensure you do.
Now let me start by saying, do not quit your job yet .you are probably wondering what the whole point if you are not quitting your job yet. Well, the point is you probably do not have a thriving business or side hustle yet. You will most likely go broke if you quit your job. Unless you have a substantial amount of money stashed up somewhere then, by all means, quit your job.
However, if you are like most people, you should not, because you will need to pay bills, feed and also fund your business.
Now let us talk about the steps to take.
1. Pick Low Budget Business/Side Hustle
One of the first and best things you can do for yourself is to pick a business that requires little resources
. Resources in the sense of capital, manpower, energy and even time. You do not want to pick a business that will cost you a fortune to start or a business that will take way too much of your time. You should also stay away from a business that requires a lot of manpower from the very beginning, your business model should require just you and perhaps one more person at the beginning. Hence, you will have to develop several skills to ensure the survival of your business and to cut down unnecessary cost. Here are some things to consider while picking a skill:
The first thing to consider while picking a skill is how profitable the skill is. Remember that this skill or skills will shape your business for you.
Here are some of the most profitable skills:
- Graphics Design
- SEO/Data Analytics
- Social Media Manager
- Digital Marketing etc.
To check for more skills that can lead to businesses for you, then you should read this.
Another factor to consider is the time and ease of learning and acquiring the said skill. For instance, if you learned coding for eight hours every day, it will take you about 180 days, that is approximately six months. If you have this much time, then you can go ahead. However, for contrast, it will take you about 30 days to learn digital Marketing proficiently in the same eight hours 30 days. That is a month. It is usually the same for most of the skills I mentioned earlier. However, this is not realistic, remember you are still working, hence, for the more disciplined ones, you will able to spend only half-time which is four learning hours. This means your learning time has also been doubled.
The good thing is for Digital Marketing, you can learn on the go after just a month of learning for four hours daily. You should keep learning and look for an opportunity to practise what you have learnt so far.
2. Get A Mentor
You have picked the skill you want to acquire for your future business successfully, great! Now you need a mentor. Easier said than done right? Well if it is difficult for you to get a mentor, then you should stick to an online mentor. The good thing is you can pick one or two online mentors. For me, I picked Digital Marketing and my online Mentor is Neil Patel. You need to follow your mentor on updates regarding your business. They do not even need to know that they are mentoring you, that is the great thing about online mentors.
Online mentors are great but I want to take it a notch higher so I will get an offline Mentor. How do I do this? I am registering for an offline Digital Marketing class soon. I chose him because he offers support after training and I get to have access to all his research materials and resources!
3. Set Goals
Goals are an important component in achieving success. They serve as a guide to keep you on course when times get tough and prevent you from becoming distracted by unimportant matters. Goals also provide benefits in areas like planning, motivation and the attainment of rapid results.
Goals can provide a future direction for your business, which will help guide you in everyday decision-making processes. If your goal is to expand your business, you can decide to use the income to hire an employee so your business can handle even more clients.
Goals help you in the planning stages for your business. You may establish a goal of increasing revenue by 25 percent in the next quarter. This goal will force you to start planning how you can achieve that.
According to the Reference for Business website, goals can also be used as a motivational tool for you and when you eventually get an employee or employees. Setting realistic goals to increase your focus and motivation because you have something you are working towards.