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5 Keys To Success as an Entrepreneur

February 25, 2010  |   Author:  Matt Morris


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Many of you reading this may already have a business or at least an idea of what type of business you’d like to start in the future.

If you’ve read Chapter 8 of The Unemployed Millionaire,  then you already know that I actually had no idea what business I wanted to start when I first began my career as an entrepreneur… All I knew initially, was that I wanted to be in business for myself!

Soon after deciding that I wanted to be in business for myself, I determined that I would start an Internet marketing business for my first entrepreneurial venture. Keep in mind, I had absolutely zero experience with Internet marketing… Honestly, I had never sold anything online – let alone a product I personally developed.

I chose internet marketing as my first entrepreneurial venture because it was something that interested me and excited me!

I didn’t mind working the extra hours or making the sacrifices necessary to reach success as an entrepreneur because I loved Internet marketing!

One of my favorite things about my first mentor, Wayne Nugent, is that he lives his life by cliches. One of the cliches he always says is “When work is a pleasure, life is a joy.”

I couldn’t agree more! The first key to success as an entrepreneur is definitely choosing to start your business based on something that interests and excites you.

Another reason I chose to start an Internet marketing business because it was something I believed I could succeed with…

I want you to do the same thing – start your business based on something you truly believe you can be successful with! If there’s one element to success as an entrepreneur that is even more important than the others, it is your level of belief.

Whether you believe you ,or you believe you can’t, you’re right!

The next two keys to success as an entrepreneur are based on problems… Early on in my entrepreneurial career, I was talking with a successful and experienced entrepreneur about overcoming problems in business. This is the best advice on problems I have ever received:

Rather than hope you won’t face any problems, expect and appreciate them.

Following that gentleman’s advice early on enabled me to stay out of the “poor me” syndrome that produces nothing but negative results.

By expecting problems, you develop a mindset that they’re a completely normal, routine aspect of being in business. Seeing problems as routine will allow you to develop a positive mind-set so you will be set to tackle negatives whenever they appear.

Honestly, being grateful for problems seemed a bit absurd to me at first. But I tried it for a while and realized there’s two important reasons to have gratitude for problems in business:

If creating the freedom to live life on your own terms was easy, wouldn’t a lot more people be doing it? The majority of the population is stuck in a miserable existence as slaves to someone else for most of their lives. Therefore, I’m eternally grateful to God for giving me the challenges He gave me so I could have success as an entrepreneur.

The second reason I’m grateful comes from what my Mom always told me growing up: “What doesn’t kill you makes you stronger.” Every challenge that comes along makes you a better businessperson. The greater your challenges, the greater level of knowledge and leadership you’ll attain.

If you desire to be your own boss, live life on your terms, and become an Unemployed Millionaire, embrace your challenges and thank God for them. Do this and I can promise that not only will your life be a lot easier and more fulfilled, but you’ll have the mind-set of persistence to build a great fortune.

I thought I’d leave the 5th Key to Success as an Entrepreneur open for discussion… I’m smart enough to know that I don’t know everything so I’d love to hear what advice some of you experienced entrepreneurs have for an entrepreneur who is just starting out. Leave your wisdom in the comments section below!

P.S. For even more advice about Starting a Business, pick up a copy of The Unemployed Millionaire and read Chapter 8! You can purchase a copy by following this link: http://www.MattMorris.com/book. (You’ll also help me feed 5  hungry children and receive over $2,000 in bonus personal development education!)

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  • WATFORD
    A MAN FOUND A COCOON OF A BUTTERFLY


    “A MAN FOUND A COCOON OF A BUTTERFLY AND ONE DAY A SMALL OPENING APPEARED.

    He sat and watched the butterfly for several hours as it struggled to force its body through that little opening.

    Then it seemed to stop making any progress. It appeared as if it had gotten as far as it could and it could go no further.

    So the man decided to help the butterfly, he took a pair of scissors and snipped off the remaining bit of the cocoon.

    The butterfly then emerged easily. But it had a swollen body and small shrivelled wings
    The man continued to watch the butterfly because he expected that, at any moment, the wings would enlarge and expand to be able to support the body, which would contract in time.

    Neither happened!!

    In fact, the butterfly spent the rest of its life crawling around with a swollen body and shrivelled wings- it was never able to fly.

    What the man in his kindness and haste did not understand was that the restricting cocoon and the struggle required for the butterfly to get through the tiny opening was natures way of forcing fluid from the body of the butterfly into its wings so that it would be ready for flight once it achieved its freedom from the cocoon.

    Sometimes struggling is exactly what we need in our life. If nature allows us to go through life without any obstacles, it would cripple us. We would not be as strong as we could be”

  • Thomas_R_LaFountaine
    Let's do it like nike
  • I think you are right. We want to make friends with you, can you pm me?.
  • Sokol
    The best thing I ever learned is the philosophy you have on belief unique point of view that that really hit me
  • Markq
    Let's not be Slaves to the System!
  • Matt,

    The only thing I can think to add to all of these great remarks is to Never Give Up.
  • Hey Matt,
    Thank you for motivational emails. One idea that comes to mind is Persistance,the thought of keep going no matter what obstacles that may come up along the way.
    Keep up your good work
  • Hi Matt

    NEVER EVER GIVE UP and
    if you don't know, FIND OUT.

    May the Lord Bless you abundantly.
    Jane
    South Africa
  • Hi Matt,

    I'm recently reading a book
    called "The 4 Hour workweek" and must tell you I'm really amazed....

    ... That worker A makes $1000 a week earns less than worker B who makes $500 a week!

    How is this possible?

    Because worker A works 40 hours a week and worker B works only 10 hours a week. So

    Worker A makes $25 per hour &
    Worker B makes $50 per hour and have 400% more time than worker A!

    Worker B makes more money than worker A and yet can have more time to enjoy himself going to holidays, rest, fun....

    Isn't this what we all want?

    i have seen businessman making millions only to make themselves a salve to their work and have no time for fun.... so sad!

    So what's the simple solution to achieve this?

    Just outsource! There are tons of people who can do the job for you for pennies on the dollar...

    Blessings,
    Thomas Hoi
  • Hi Matt!
    Thank you for the encouragement and positive thinking.

    I believe loving what you do and being consistent with it and staying away from those who are no good for you will bring you progress and great success as an internet entrepreneur.
  • Hi Matt,

    A while back I came across a cartoon flyer with a lady interviewing a gentleman for a job.

    She posed this question to the man during
    the interview:

    Sir "WHAT ARE YOUR AMBITIONS? To which the man quickly and politely replied, "HAVING LESS TO DO," AND "MORE TIME AND MONEY TO DO IT!" That now is my motto, LOL!!!

    I believe knowing why you want to be an entrepreneur is one of the biggest keys to success, because, if you have a big enough why, the HOW TO DO IT will soon follow and there is nothing that will keep you from reaching the success you seek.

    Thanks for the continued positive motivational blogs you post.
  • One Word

    Dertermination!
  • first of all, i'm reading your book right now ! i've never owned a business or even been involved in network marketing before now.... i love the system and the people i've been Blessed with over the past few months .. and i'm ready to "burn it up" and "make a living.....living" God Bless
  • Hmm, so many places to go with the last one. I'd have to say staying connected to God, staying connected to the infinite reservoir of divine light, love, and power. Without such energies all efforts are hollow.
  • Hey Matt! I am getting the ball rolling with my ideas and very excited about the future, the information you have provided is very appreciated and valued dearly because I am starting my entrepreneurial venture!
  • Myself believe in the statement saying"when work is a pleasure,life is a joy.And for personal development you # 1,i realy enjoy what you feeding my mind thanks,especialy when promoting the spirit of Entrepreneur your are so great God bless.
  • Cornelis Frederiks
    Like and enjoy what you are doing, otherwise change your job.
  • Thanks Matt! The book is awesome and having you as my coach/Mentor is an incredible experience...
  • Thank you John, proud to be working with you!
  • Craig big nose.
    I like getting your short emails and video's, they help to remind me.
    First of all where in Cyprus? I hope its the North it has amazing places to visit relax and inspire.

    I was told I would not do to well if I didn't do more at school at the time my instinct, which we have drummed out of us in the school system said Ignore that do what we want to do. Everyone was right to some extent, yeah I cant spell so good and I need a calculator to add up all the money I make and have lost here and there.

    How ever my instinct is right 9 times out of 10.
    Then my belief which reaches further than the universe because of that incredible foundation is right near enough 10 times out of 10.

    I started 6 business in total with little or no cash, no experience, not much support but they still got started made money some for longer than others.

    Its all because of belief but you have to listen to your instincts. You have to believe you have them and believe they are on your side. Try it!

    With small things if think you have left something in the house you may need when you go out . Stop go back and have a look. 9 times out of 10 you will be right.
    Yet we think no its ok and make an excuse up not to go back. Thats the side of ourselves that stops us doing our big dreams and goals. If you can't find 60 seconds to be sure, or even if it turns out you were wrong you lost 60 seconds that was it. Lose 60 seconds its worth it your instinct will learn to trust and have faith in you for your efforts.

    If you cant, well bless you and hurry on your way, at least you will get to try it again every single day.

    Dont worry about my spelling and grammer, I dont and I have used spell check on about 12 words belive it or not.

    I now work around 6 months of the year, do all I want to do, help others buy small investment properties in a wonderful place for as little as $20,000. (10% to 12% net rental income)zero crime, all speak English and we have 5 seasons of the year. It sounds to go to be true and pie in the sky. Well maybe it is?

    Life can be easy if you make it that way, thats your choice and yours alone.

    My no 1 poem.

    Every dream grows stronger, if you hold on a little bit longer.

    HEALTHY REGARDS CRAIG. (My nose is not that big by the way, but some times people duck down when I turn my head.)
  • Well said!

    Cyprus is an island off the coast of Greece in the Mediterranean. Beautiful place!
  • Craig big nose.
    Yes I know I said where in Cyprus ?
  • We're in Limmasol at the Four Seasons.
  • Michélle Zimvu
    Craig,

    Thank you very much for such an inspiring message.I too as an entrepreneur have faced challenges and I'm actually in the process of learning to trust my instincts...I'll continue holding onto my dreams until they are realised.

    Michélle
  • Cornelis Frederiks
    "Its all because of belief but you have to listen to your instincts. You have to believe you have them and believe they are on your side. Try it!"
    (believe in yourself, YOU CAN DO IT!)

    "If you cant, well bless you and hurry on your way, at least you will get to try it again every single day."
    -Can't does not exist. If it is difficult do it at once. If it is impossible it takes a little longer.
    Never give up (Churchill)
  • Ray
    As long as we keep on putting one foot in front of the other and keep heading in the right direction then nothing in this world can stop you
  • Jason Slone
    Always a blessing to hear sound advice from a sound man, Thanks Matt. For me personally I have recognized there are different levels to my decisions for example I have a Choice to decide to decide.
    I have a choice to decide to keep going and then keep going and again and again and again until ultimately I decide to do it again, Over and Over. You see with the same concept attached Im in control to apply a decision action that Im deciding to believe that this action will ultimately end up in Victory. All this is my decision to decide to decide. Pretty Incredible really! Lol Its really simple.
  • You got it Brother!
  • Joyce Carter
    The one trait found in most self made millionaires that towers above any others...
    INTEGRITY. Above education, experience, and any vital skill set, your honesty, honor and respect for yourself and others leads you to greatness.
  • Reading your story is inspiring especially for us who are starting out. I joined one of the multilevel marketing company recently and I this month I made myself £2000.00. All I did was working hard without having to count how much I would earn. When the confirmation for my commission came, I could not believe it. If you can make it, I am sure many people out there can make it too, so that we too can afford the standard of living and be able to share our wealth with others. I wish you the very best.
  • Isaac Nyarwaya
    Another thing i find important is to keep around you people who encourage you and who believe you can make it. I met people who put a lot of question marks on my business and every time i talk to them, i feel spiritually low and have to gather more energy to go forward. I have talked to others who energized me and left with more hope for a bright future. So in the early stages avoid, do not listen to people with negative comments/ attitudes.
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