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Six Lifestyle Choices For Successful Young Entrepreneurs

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Lifestyle Choices For Successful Young Entrepreneurs

The Invest or Sacrifice Model For Successful Young Entrepreneurs

I was talking with some friends (who are not entrepreneurs) and some how the issue of money came up. Nothing that deep on meaningful but I was aware that some of my friends had considered I was making “sacrifices” to be a young entrepreneur.

I on the other hand did not see any of their points as sacrifice – but rather as investing in myself and it got me thinking about an idea for a blog post.

(As a side note: most of my offline friends are BROKE, so no idea why they even tried to make these points)

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.

Want to learn how to be more productive with the time you have, here are some links I suggest:

Get Off Your Butt: 16 Ways to Get Motivated When You’re In a Slump

How to Become an Early Riser

How to Actually Execute Your To-do List

How to Take Action Consistently

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.

Finally Note

I don’t think you should have to sacrifice somethings such as health and well being because these things are important and effect the way you work. Make sure you always have time to eat well and exersise.

 

Comments

  1. Mike Huang says:

    You hit ALL the points with this post, Michael. My favorite point of yours is that it really takes money to invest in what you want to do. Just saving a little money could give a site a new theme! 😛

    -Mike

  2. zncustombuilding says:

    well thanks for such a nice post this a tad entertaining and more motivating for me……..thx a lot pal………..

  3. Armen Shirvanian says:

    It is true that one does not need to stay in a position of comfort, and that it can even be a hindrance to a process if one is too calm to act as they should be.

  4. Vietnam Honeymoons says:

    Great advice. I must admit, time is my largest downfall, but it isn’t anything that I can’t fix!

  5. Rajaie AlKorani says:

    My friends also laugh at the idea of making millions online – let alone making any money online – but I forgive and forget, just like you 🙂

    But if only they knew…

  6. Christmas 2008 says:

    Well explained the “Six Lifestyle Choices For Successful Young Entrepreneurs”. Every one will follow these.

  7. Hi Michael, you hit the points that are hidden in me. You hit me the most in the Friendship section. As a “struggling entrepreneur”, I guess I have to follow this.

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