There are many people, especially budding entrepreneurs, who want to figure out how they can quickly make another x number of dollars on the side. That amount is often anywhere from $500 to $2,000, sometimes more, sometimes less. Still others wish that they could just pay their bills or get out of debt.
The simple answer is that there is no silver bullet. Part of becoming an entrepreneur is adopting a new way of thinking. It’s about taking instant gratification and short-term desires and goals and transmuting them into delayed gratification and a long-term mindset.
I would argue that — for a lot of people (but not all) — it would be wise to take a job and bank a paycheck before ever thinking about enterprise. Building a business takes time, and it’s hard to focus on it while you are constantly trying to put out fires. Moreover, you don’t want to enter business-related negotiations that you don’t feel you could walk away from.
Solving the $2,000 problem is about becoming bigger than the problem. The problem can only be surmounted if you are willing to get out of your comfort zone and invest in your personal growth.
While studying several dozen successful individuals, I have arrived at a hypothesis that could prove valuable to those who want to embark on enterprise. It has often been said that it’s not about the money you make, but rather the person you become through the process. This is because the person you become through the process is an individual that is more readily able to add value to the world at large.
My theory is that if you commit to growing your business over the next two to ten years, not only will you reach your $2,000 goal; you will likely far surpass it. In fact, the person you become through the process will be better able to create money-making value propositions quicker than ever before. However, there are some caveats:
Consistency & Accountability
Many of us aren’t very good at consistency or accountability.
Let’s think about blogging for a second. You’ve probably heard about the importance of regularity, but what you may not have realized is that posting any less than once per month is probably counterproductive for your business. In other words, if the newest post on your site dates back to 2011, it probably isn’t doing you much good. It just makes you look like you haven’t done anything new or relevant since 2011.
Think about it for a second. Most blogging platforms are set up to categorize your posts and archive them into monthly pools. Your followers and/or customers are going to wonder about missing months.
Blogging isn’t easy. You have to have a plan, and you have to have people that are dedicating their time, their energies and their directed thought toward it.
Similarly, a businessperson has to learn to create consistency in their business efforts, even if that just means carving out an hour to sit down at a coffeehouse to brainstorm business ideas on a weekly basis. You have to start somewhere. The ultimate goal is to get to the point where you do something every day to move your business forward. However, that point may not come right away. Your desire has to be strong enough to motivate and inspire you.
As Napoleon Hill pointed out in The Law of Success, if your desires are strong enough, and you bombard your mind with a singular objective long enough, your actions will have to follow. It will feel unnatural not to take action.
Accountability is simply doing what you said you were going to do. If you put an activity in your schedule, actually do it. If you set up a meeting with a friend, show up on time or even early. Accountability is a rare trait that will separate you from the pack. Learn to trust your judgment and be accountable both to yourself and to others.
Teachability & Mentorship
It might be too obvious to say, but people that aren’t teachable don’t grow.
You don’t have to throw your life into upheaval to adopt new, more productive habits. However, you have to be willing to make tweaks to your strategy. You have to be willing to change. You have to be willing to apply the lessons you learn through personal growth.
Accessing proper mentorship will enable you to fast-track this process. Your mentor can’t be just anybody. It should be someone (or several people) that have the results you want in life. At the very least, they should be on their way to achieving those results.
People that achieved their $2,000 goal were dedicated to their personal growth. They invested in books, audio programs, interest groups, subscriptions and seminars and actually utilized these tools. They committed to using them on a daily basis.
Does a person have to invest hours upon hours of their time on a day-to-day basis in order to learn and grow? No, not at all. In most cases, 45 to 90 minutes per day is sufficient. If you drive to-and-from work, then that is a great time to utilize. You can put on podcasts or audio programs as you drive and turn your car into a Mobile University.
This is also about leadership. You may not have a team, and you may not have followers right at this moment. However, you have to be the one to set the standards for your enterprise. You have to lead yourself well. Systematize your workflow so that when others join your team, they have outlines they can follow to duplicate your work.
Dreams & Goals
People often talk about how to accomplish an objective. However, achievement cannot always be broken down into a step-by-step process. More than anything else, you have to have a strong desire to be able to persist. Some might argue that persistence comes first, but actually, if you have dreams and goals that motivate you — in other words, you know your ultimate why — it will be hard not to persist.
For most people, the “missing ingredient” is motivation and inspiration. They haven’t defined their purpose, nor have they actually found a drive that they feel is worthy of their time and energies.
You may have to reflect on this for a while. You may have to take some time to really explore the wishes, wants and needs in your life. Until something becomes a need, it may not prompt you to take action. Give this careful consideration.
A lamp is not generally used to light an entire room. If it is, it’s to create a relaxing atmosphere, or to replace harsher ceiling flood lighting.
A lamp can be moved to shed more light on other objects. However, as you move it away from the original object it was lighting, that object darkens and becomes less visible.
Your personal focus is very similar in nature. An entrepreneur often has a hard time narrowing their focus on any one thing. And while some of us may feel we are able to juggle several different projects at any given time, the result is that we don’t see the possibilities or problems that are cropping up elsewhere, because we’re too busy concentrating on another item. By the time our focus returns to the original project, we’re not even sure what happened to it while we were busy tending to other matters.
This isn’t always the case, but it’s possible that you are giving your attention away to too many different things. Focus will allow you to stay single-minded, thereby helping you develop and find new marketing tactics, strategies and solutions for your primary enterprise.
The truth of the matter is that the $2,000 problem is not a hard one to solve. The people that I studied ended up creating a six-or-seven-figure passive income within a two to ten year period (some took a little less, and some took a little longer).
However, as it has been so eloquently put before, if you shoot for the moon, you will land among the stars. It’s better to set the bars high and exceed your goals than to set the standards so low that you don’t ever come within reach of your objectives.