Project Life Mastery https://projectlifemastery.com Sat, 26 Sep 2020 13:01:22 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.1 https://projectlifemastery.com/wp-content/uploads/project-life-mastery-favicon.ico Project Life Mastery https://projectlifemastery.com 32 32 How To Develop An INSANE Work Ethic https://projectlifemastery.com/work-ethic/ https://projectlifemastery.com/work-ethic/#respond Mon, 18 Nov 2019 16:00:12 +0000 https://projectlifemastery.com/?p=11510 Anything of value in life requires hard work. Want to know how to develop an INSANE work ethic so that you are able to master success? Click here for more!

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Developing an INSANE work ethic will get you far in life.

Work ethic is defined as a set of values based on the ideals of discipline and hard work. Success is built on the foundation of hard work.  There is no other way around that.

You can achieve anything that you are willing to devote time, effort and energy to.

Ready to figure out how to develop an INSANE work ethic so that you can achieve your goals faster?

Watch the video below:

(Click here to watch on YouTube)

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When you build a strong work ethic, hard work is no longer hard.

Rather, it becomes effortless. I'm not a big fan of the word, “hard work” because it presupposes that work has to be hard. This isn't true. Work can be challenging at the beginning. However, in the end, your success depends on which type of motivation mindset you adopt.

Push motivation is a behavior that you force yourself to complete to achieve a goal. Eventually, you will burn out if you push yourself too hard. Conversely, pull motivation is a behavior that you feel naturally drawn towards. When you can link pleasure to an experience, you will be more likely to reward yourself, and in turn, repeat a behavior.

The question is, “How do you develop an INSANE work ethic?”

Just like anything, it's a habit that you need to build. I like to think of work ethic as if it were a muscle. Let's use the metaphor of going to the gym to illustrate my point. When you are first going to the gym, it's hard to be build muscle, especially if you don't love working out.

Hence, it requires a lot of discipline. However, if you consistently stick with it, eventually it becomes easier to go to the gym. Before you know it, your day doesn't feel complete without this healthy habit. Can you relate?

The same thing goes with developing your work ethic.

When you go to your job each day, you're either building character traits of strength and hard work, or you're cheating yourself. If you aren't going to go all-in in your work, then all that you are doing is building a disempowering habit of laziness. How you do anything is how you do everything.

If you're not showing up at work, then who is to say that you are going to show up in other areas of your life as well? You have to push yourself to go beyond what your normal level of work ethic is to something that is greater than yourself. There are different levels of hard work.

You may think that you currently work hard. However, it's not until you're around someone that is living life at a higher level than you, that you get hit with the reality that you're lagging. If you haven't achieved your goals and dreams yet, it's time for you to get in closer proximity with people who are more successful than you. This is what will make you realize that you need to raise your standards higher than ever before.

So… how do you develop your work ethic muscle?

In her book, Grit: The Power of Passion and Perseverance, Angela Duckworth talks about “the hard thing rule.” She says that you should do something hard every single day. The goal is to push yourself beyond what you are used to. Just by setting this tone for yourself, you will slowly build your work ethic muscle.

Look at everything that you're currently doing in your life as an opportunity to challenge yourself. When I was first building my online business, I wanted to achieve success so badly that I was willing to do anything. I trained myself to work 14-16 hour days.

By adopting this INSANE work ethic, my 8-hour days are now so much easier because I have built up my strength over time by pushing my limits. If you've never worked a 14-16 hour day, you should. Challenge yourself beyond what you are capable of, on purpose. The results will speak for themselves.

This is how to develop an INSANE work ethic.

If you aspire to achieve massive success in life, you must have a strong work ethic. Pride yourself on being a hard worker and push yourself every single day. If you can do this, you will feel unstoppable, and I promise you that the long-term rewards will be far-reaching.

What action are you committed to taking this week to build your work ethic muscle?

Do you want to know 21 powerful morning rituals that will change your life? CLICK HERE to get instant access to my FREE cheatsheet!

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Are You Ready to Start Your Own Business? 7 Questions to Ask Yourself https://projectlifemastery.com/starting-your-own-business/ https://projectlifemastery.com/starting-your-own-business/#respond Thu, 16 Aug 2018 15:00:06 +0000 https://projectlifemastery.com/?p=8581 Starting your own business is a big decision. Ready to learn 7 reality check questions to ask yourself before you take the leap? Click here to learn more!

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Starting your own business will be nothing that you expected it would be.

If you are like many new entrepreneurs, you probably have an amazing idea for a business. You've got a plan in place for how you are going to achieve success and how long it will take you to get there.

When you begin your entrepreneurial journey, it's natural to be excited. However, it can be easy to let your passion get in the way of reality. I encourage you to throw all expectations out the window.

Are you ready to learn 7 reality check questions that you should ask yourself before you start your own business?

Watch the video below where Tatiana and I talk about our 3 biggest online business failures:

(Click here to watch on YouTube)

Do you want to learn how to master your online business? CLICK HERE to join my Online Business Mastery Accelerator program!

Starting your own business is an exciting and scary venture.

Based on my personal experience coaching hundreds of aspiring entrepreneurs, if you don't have the right mindset going into your business, you won't get far.

The media romanticizes the idea of entrepreneurship. On the surface, being a successful entrepreneur looks the ultimate dream. In many ways, it is. However, there is a not-so-sexy reality of entrepreneurship that many people fail to take into account, let alone are aware of.

If your sole intention for starting your own business is just to make money, I encourage you to re-think your direction in life. In the words of Marie Forleo, “Never start a business just to make money. Start a business to make a difference.”

Research shows that 50% of all new businesses fail within the first five years. These statistics prove that entrepreneurship isn't for everyone, and this isn't necessarily a bad thing. How would it feel if you could avoid the mistakes that 50% of business owners make?

If more entrepreneurs knew about the realities of entrepreneurship, I think that they would be better prepared and more likely to succeed. Self-awareness is key.

I encourage you to reflect upon these 7 reality check questions before starting your own business.

1. Do you embrace failure?

Anyone who has ever watched a child learning to walk knows that success doesn't happen overnight. They get up and they fall down multiple times before they finally figure it out.

Entrepreneurs go through the exact same growing pains. Everyone fails at some point in their entrepreneurial journey. Don't get me wrong… failing doesn't feel good. When it happens, it's easy to view it as a personal shortcoming.

However, successful entrepreneurs know that failing is an integral steppingstone to their success, which is why they embrace it. Every mistake is seen as an opportunity to learn and grow.

As Anton Ignatenko, the CEO of Lead Network, says – “The only way you will know your limits is to explore them. Failures teach you what you can and cannot do. Knowing this helps you accurately plan for the future, and work toward your goals.”

I have failed thousands of times in my business. I would have never achieved the success that I have today if I let the knockdowns get in my way of achieving my goals. I know that I will fail more in the future, but I don't worry about it. Why?

Because I'm ready for anything and everything.

It comes down to your mindset. You can either get discouraged by failure and give up, or you can use it as leverage to propel you forward. The decision that you make determines your success as an entrepreneur.

When you are first starting your entrepreneurial journey the best thing that you can do is expect failure. If you try to hide from it or think that it won't happen, it will hit you in the face — hard. Once you are prepared, you will be able to find solutions to problems more quickly. This will allow you to bounce back faster from setbacks.

2. Are you willing to make sacrifices?

It's easy to think about all the things that you can get by becoming an entrepreneur. However, what about all of the things that you have to give up? Have you ever thought about that? If not, don't worry. A lot of people forget to take this into account.

I have yet to meet one successful entrepreneur that hasn't had to sacrifice something in order to get to where they are today. For a long time, I struggled with the idea of making sacrifices. Once I started to notice the payoffs that were coming from my sacrifices, it no longer bothered me.

Let's face it… sacrifices suck. The social life is usually hit the hardest. The assumption that a lot of people have is that, because you work for yourself, that must mean that you are in control of your time. Not necessarily. It depends on how fast you want to achieve success.

In the beginning stages of building your business, you will find that you have less time to invest in friendships and social engagements. Sometimes fun has to take a backseat, which can create more distance between you and your friends.

From my personal experience, your true friends are the ones who respect and understand your vision, despite the amount of time you actually get to connect with them.

Fear of missing out doesn't feel good, but when you start making money in your sleep, it no longer feels like you are missing out on anything.

3. Do you live for uncertainty?

We live in uncertain times and that's not going to change. If you want to survive in the business world you need to bask in uncertainty. The most successful entrepreneurs wake up every day ready for anything. They are always looking for ways to transform uncertainty into a competitive advantage.

They know that, realistically, nothing is in their control. The market could crash, their team could go sour, their clients could leave, or their brand could flop. The only thing that they have control over is how they respond to unforeseen circumstances.

Because of this reality, their success depends almost entirely on the choices that they make. Everything else is “in the air”, so to speak. How does that make you feel? I'm not saying that the unknown isn't uncomfortable — it is. However, if you can't embrace it, then maybe entrepreneurship is not for you.

Just like there are no guarantees in life, the same goes for entrepreneurship. If you can remain optimistic and passionate about your work, despite knowing that you could lose everything tomorrow, you are in it for the long-term. In the words of Margaret Drabble, “When nothing is sure, everything is possible.”

4. Are you prepared to work harder than you've ever worked before?

It doesn't matter if you are just starting out or are 5 years into your entrepreneurial journey, being an entrepreneur is always hard work. The problem is people hear about amazing overnight success stories and they think, “If they can do it, so can I!”

This is true. However, where people get stuck is that they have unrealistic expectations about what hard work looks like. A question that I receive from a lot of people is, “Stefan, “How do I get rich quick?”

If you follow my work, you know that this question drives me crazy.

If you are thinking this way, it tells me that you are not willing to do whatever it takes in order to build a profitable business. People get hooked on this mentality because they are sold shortcuts and gimmicks. Not surprisingly, they assume that it's possible to cut their workload in half by following “make money fast” advice.

I'm here to tell you that this won't work in the long-term. If you take the easy road, you will some achieve some success in the short-term, but it won't last. This isn't how I built a 7-figure online business.

My path to success took years of blood, sweat, and tears. The payoff was worth every second. It comes down to asking yourself, “How bad do I want it?”

5. Do you manage stress well?

The success of your business relies on you. On a daily basis, an entrepreneur is hit with a variety of different stressors that tests their patience. For this reason, I believe that the ability to effectively manage stress is one of the most important qualities that an entrepreneur can cultivate.

Starting your own business is an emotional rollercoaster ride. If you aren't willing to navigate the twists and turns, you will burn out, fast.

Successful entrepreneurs know how to make friends with stress because they have mastered their emotions. A survey by TalentSmart showed that 90 percent of top performers know how to manage their emotions in times of stress so that they remain cool and calm.

I still experience stress and anxiety in my business. However, I don’t let these experiences break me. I welcome challenges because they force me to grow and become more.

No matter how hard you try, you cannot avoid stress, especially in the business world. This is why it's of benefit to all of us to transform our perception of stress so that we use it to our advantage. When you achieve this, you are one step ahead of the competition.

Kelly McGonigal said it best – “When you embrace stress, you can transform fear into courage, isolation into connection, and suffering into meaning.”

6. Are you resourceful?

I’ve been an entrepreneur for almost 10 years now. I've built multiple successful businesses, but none of them would have been possible had I not been resourceful. During the beginning stages of growing your business, you need to master this trait.

“Be resourceful and train your resilience, these are the two most important assets you have for free, and still they are the hardest to get.” – Pablo Santaeufemia

Entrepreneurship is all about how fast you can innovate and solve problems. The reality is that there will never feel like there is enough of anything. For example, you may not have a lot of money to spare in the beginning stages of your business. Because of this, you will have to wear multiple hats, learn new skills, and find inexpensive ways to build your business.

When challenges arise, you have to be able to find ways to overcome them in a clever way. This requires that an entrepreneur be hyper-aware of the resources that are available to them. This is when having a strong network is ideal. How strong is yours?

At the end of the day, resourcefulness is a mindset. It's not about how smart you are. Rather, it's about how effectively you are able to optimize what you already have and create massive success from it.

7. Are you a people-person?

If you aren't a people-person you can still be an entrepreneur, but everything will feel like a struggle. As an entrepreneur, you can expect that you will always be interacting with people; whether that's a client, a potential customer, or a team member. You can't hide from it.

The reality is that people buy products and services from people that they like and trust. If you don't possess that likeability factor, selling will be difficult.

In my early 20's I was extremely shy and anxious. As a result, I hid behind my computer and did anything to not talk to people. Social situations made me extremely comfortable. However, I eventually reached an emotional threshold.

I knew that if I wanted to achieve entrepreneurial success, I needed to develop my social skills and fall in love with connecting with people. After a lot of self-development work on myself, that's exactly what I did. I stepped out of my comfort zone and faced my fears.

These skills have allowed me to take my business to a whole new level. Your ability to empathize and communicate with others will be critical to your success. This is why having strong people skills is so important.

If you answered yes to the above questions, you know that you are ready to dive into the world of entrepreneurship.

Starting a business is a massive undertaking. My intention for writing this blog isn't to freak you out or discourage you from starting your own business. Rather, it's to inform you of the realities of entrepreneurship so that you are prepared.

I challenge you to go inward and really determine whether or not starting a business is right for you. Being an entrepreneur may not turn out to be anything that you expected it would be.

However, if you are ready for anything, it has the power to change your life forever.

Do you want to learn how to master your online business? CLICK HERE to join my Online Business Mastery Accelerator program!

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Best Entrepreneur Advice For Beginners https://projectlifemastery.com/entrepreneur-advice-for-beginners/ https://projectlifemastery.com/entrepreneur-advice-for-beginners/#comments Fri, 15 Sep 2017 14:00:16 +0000 http://projectlifemastery.com/?p=6762 Entrepreneurship can be a roller coaster ride of highs and lows. Do you want to know the best entrepreneur advice for beginners? Click here to learn more!

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Here is the best entrepreneur advice for beginners.

At the beginning of an entrepreneurial journey it can feel like a roller coaster ride, filled with highs and lows. If you want to succeed in the startup world, you need to learn how to navigate this bumpy terrain so that you come out on top.

The reality is that 8 out of 10 businesses fail in the first year. How would it feel if you could avoid the mistakes that 80% of people make? If more entrepreneurs were armed with the right advice, I think that these numbers would be lower.

Starting a business requires a myriad of personality traits; like hard work, grit, patience, sacrifice, energy, and a passion to succeed. Only the strong survive. Are you one of them?

Watch the video below:

(Click here to watch on YouTube)

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In this book, The Entrepreneur Roller Coaster: Why Now Is the Time to #JoinTheRide, Darren Hardy says that people who make the jump into entrepreneurship just aren't ready, prepared, or equipped.

I want to share with you the best entrepreneur advice for beginners, comprised of skills that every entrepreneur must master:

1. Believe in Yourself

Making the choice to become an entrepreneur takes courage, especially when family or friends don’t support your vision, which is why you need to believe in yourself.

The most successful people in this world didn’t get to where they are today by doubting themselves. Talk to yourself as if you are a winner.

If you don’t believe in yourself, who will believe in you? This is your life, your choices, and your destiny. Make it count. As Henry Ford once said, “Whether you think you can or think you can’t, you’re right.” 

2. Master Your Emotions

If you want to succeed at anything in life, it starts with going inward and learning how to master your emotions. Successful entrepreneurs don’t let their emotions drive their decisions. Rather, they remain calm and calculated under pressure.

A business that is based on reactive decisions will only result in failure. Yes, you will get triggered, but it is up to you to learn how to calm your ‘emotional storm’ so that you can master any challenge that stands in your way of success.

3. Enjoy The Process Of Success

If you want to be a successful entrepreneur, you need to learn how to enjoy the process of success. If you only focus on external rewards from your efforts, you will always be in the rat race. Don’t be a slave to your external environment.

Even when you start making a certain amount of money and become financially free, it won’t be enough. You will always be looking for the next best thing.

The chase will never make you happy, which is why you need to become less attached to the final outcome and enjoy the process of success. That is where the real growth lies.

4. Focus on Contribution

Take a moment and think about how lucky you are to be able to do what you love. Having an appreciation for your accomplishments carries more meaning when you are able to give back and make a positive impact on the lives of others.

At the end of the day, contribution is the ultimate reward in life. I believe that we are all here to give and contribute something, beyond ourselves. Not only does it give you a sense of lasting fulfillment, but it also serves to accelerate your success at a much faster pace.

In the words of Zig Ziglar, “You can have everything in life you want, if you will just help other people get what they want.”

5. Don’t Be Afraid Of Failure

If you have experienced failure in the past, great! Failure is a normal part of the learning process of life. Thank your failures for the lessons and then let them go.

Accept and learn from your past, but don’t live there, because it doesn’t dictate your future in any way unless you allow it to. If you keep doing what you’ve always done, you will get what you’ve always gotten.

It’s easy to feel shitty when things don’t go your way, but if you want to truly succeed as an entrepreneur you have to use pain as motivation, and develop the mindset and the willpower to keep pushing despite the obstacles that stand in your way.

Use failure as a tool for growth and change. It has the ability to propel you forward and prepare you for what lies ahead.

Being a successful entrepreneur doesn’t happen overnight. It’s a long-term commitment, but the payoff is sweet. This is the best entrepreneur advice for beginners. I challenge you to start utilizing these skills in your business. The result? Business mastery.

Do you want to learn the 7 online business models that have made me an Internet millionaire? CLICK HERE for instant access to my free course!

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MAKE A DECISION | MOTIVATIONAL VIDEO https://projectlifemastery.com/make-a-decision/ https://projectlifemastery.com/make-a-decision/#respond Mon, 11 Sep 2017 14:08:32 +0000 http://projectlifemastery.com/?p=6738 Do you want to know the secret of being in control of your life? Make a decision. Never underestimate the impact that a single decision can make. Everything that has happened in your life, to date, has started with a decision. Many people become so fearful of making a mistake, that they end up making a […]

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Do you want to know the secret of being in control of your life? Make a decision. Never underestimate the impact that a single decision can make.

Everything that has happened in your life, to date, has started with a decision. Many people become so fearful of making a mistake, that they end up making a bad decision, or worse, no decision at all.

The beauty of life is that you ALWAYS have options. When you find the motivation to make growth-based decisions, you step into the driver’s seat of your life.

In the words of Paulo Coelho, “When someone makes a decision he is really diving into a strong current that will carry him to places that he had never dreamed of when he first made the decision.” Are you ready to make a decision?

Watch the video below:

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A decision can go one of two ways – towards a life of happiness or towards a life of suffering. If you want to experience the former, it is important that you make the right decision at the right time. Unfortunately, from an evolutionary perspective, our brains are not designed to make rational decisions.

When neuroscientists examined brain activity during a simple decision-making experiment, they noticed people had often decided on a course of action ten seconds before they were consciously aware of having made any decision at all. The goods news is that we are all capable of change, and it all starts with our mindset.

In his book Get Smart!: How to Think and Act Like the Most Successful and Highest-Paid People in Every Field, author Brian Tracy presents ten different ways of thinking that enable better decision making, one of which includes thinking about the long-term consequences of your decision.

Instead of being plagued by the desire for instant gratification, become more aware of how your actions today will impact your future. The ability to delay gratification is a core principle of success.

The next time you are about to make an instinctual decision, without thinking it through, sit back and ask yourself, “What will be the long-term consequences of the action that I am about to take?” If you want to solve difficult problems in life, you will need to make difficult decisions. Anything that you desire in life requires a lot of hard work, sacrifice, time, commitment, and energy.

It’s supposed to be hard. If it were easy, everybody would do it. The master knows that challenges are the norm. When things get tough in life, they keep pushing forward.

They make a decision. They decide to take ownership of their mistakes and don’t let their lows dictate their future. Research by Carol Dweck suggests that the top trait that you will need in order to make a decision into a long-term success is the ability to convert life’s setbacks into future successes.

If you are going through a hard time in your life right now, know that this too shall pass. Trust the process of life and learn how to relinquish control. The only thing that you have control over is your reactions to what life throws at you. The small decisions that we make on a daily basis have the power to dictate the direction that our lives will take.

In the words of Tony Robbins, “It’s not what you do once in a while that shapes your life. It’s what you do consistently.” Make a decision, but choose it wisely.

Do you want to learn how to master every area of your life? CLICK HERE to join my Life Mastery Accelerator program!

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5 Ways To Get Motivated https://projectlifemastery.com/5-ways-to-get-motivated/ https://projectlifemastery.com/5-ways-to-get-motivated/#respond Mon, 24 Jul 2017 20:59:27 +0000 http://projectlifemastery.com/?p=6538 Motivation is the energy that inspires you to set and achieve your goals. Do you want to know 5 ways to get motivated? Click here to learn more!

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I want to share with you 5 ways to get motivated. Motivation is the energy that inspires you to set and achieve your goals. It is one of the most important predictors of success in life. Without it, results are impossible.

Anything of value in life requires an immense amount of commitment, hard work, patience, and sacrifice. In other words, the most successful people in the world persevere, despite pain and discomfort. 

Can you think of a time when you felt like you were in a slump and had zero energy to do anything? If so, you aren’t alone. Even the most motivated of people can feel unmotivated at times.

Motivation is power; it gives us the ability to shape and create our destinies. Tony Robbins said it best,Change is never a matter of ability; its always a matter of motivation.” What motivates you to work hard and achieve your goals?

Watch the video below:

(Click here to watch on YouTube)

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Do you want to know 7 business models for making money online? CLICK HERE for instant access to my free course!

Motivation is the foundation of all action in life. Getting motivated can be challenging at times, which is why having success strategies in place to support you will help make the process more manageable. Below are 5 ways to get motivated:

1. Create A Vision For Your Life

Motivation becomes strong when you have a clear image of what it is that you want to achieve. Pursuing my goals doesn’t require motivation. Why? Because I have a clear vision for my life.

Take a moment, go beyond your current state of living, and visualize what your ideal life would look like. Imagine the type of environment you live in, the partner that you have, the experiences you are having, and the type of work that you are doing.

There is no right or wrong. All that matters is that your vision motivates you. At the end of your life, what matters most is not what you acquired, but who you became. Don’t settle.

2. Find Your ‘Why’

Your ‘why' is your purpose; it is what inspires you to get out of bed every day. You need to determine the reasons why your vision is important to you.

For example, let's say that you want to build an online business. What is your ‘why' for wanting to do that? It could be to experience freedom, to be your own boss, or to be able to take care of your family.

Whatever your reasons are, they are what will pull you towards the accomplishment of your goals. When you find your ‘why', use it to channel your motivation.

3. Adopt A Learning Mindset

In an ever-changing world, the single best investment that you can make in life is a lifelong commitment and curiosity for learning. Lifelong learners are motivated to grow because they want to.

Read books, watch videos, invest in training programs, attend seminars, workshops, and networking events – these environments will give you the motivation to make things happen.

For example, if you want to build an online business, read books about people like Warren Buffett, Richard Branson, Sam Walton, and Elon Musk. The stories of successful people like this will inspire you. Investing in your learning is one of the best gifts that you can give yourself.

4. Find a Mentor or Hire A Coach

The best way to harness the power of motivation is to surround yourself with people who have high standards and who are achieving great things in life.

In his book, The Power of HabitThe Power of Habit: Why We Do What We Do in Life and Business, Charles Duhigg suggests that the people you surround yourself with can play a role on your habits and behaviours. 

Find a mentor or hire a coach who can motivate and hold you accountable. I have many coaches and mentors in my life. These people have helped me achieve my goals faster. In the words of John Crosby, “A mentor is a brain to pick, an ear to listen, and a push in the right direction.”

5. Fall In Love With The Process, Not The Results

The most successful people in the world understand how to shift their attitude about the journey, so that the process towards achieving a goal is just as fulfilling as actually achieving it.

In order to attain mastery, you need to fall in love with the process. A lot of people want to achieve success, but they aren't committed to taking the steps in order to get there. If you only attach yourself to the results, your motivation will dwindle.

Carl Rogers said it best, “The good life is a process, not a state of being. It is a direction, not a destination.” Learn how to fall in love with the learning process, because that is where the magic happens.

I hope these 5 ways to get motivated have inspired you to master motivation and find the drive that you need in order to achieve your goals. Are you ready to take your motivation to a whole new level?

Do you want to know 7 business models for making money online? CLICK HERE for instant access to my free course!

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3 Mindset Mistakes To Avoid When Starting An Online Business https://projectlifemastery.com/3-mindset-mistakes-to-avoid-when-starting-an-online-business/ https://projectlifemastery.com/3-mindset-mistakes-to-avoid-when-starting-an-online-business/#comments Fri, 24 Mar 2017 14:49:05 +0000 http://projectlifemastery.com/?p=5953 I would like to share with you 3 mindset mistakes to avoid when starting an online business. There is nothing more exciting than making the choice to start an online business, however a large % of people crash and burn. Research shows that more than 90% of all Internet business start-ups end in failure within the […]

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I would like to share with you 3 mindset mistakes to avoid when starting an online business. There is nothing more exciting than making the choice to start an online business, however a large % of people crash and burn. Research shows that more than 90% of all Internet business start-ups end in failure within the first 120 days (Patel, 2015).

In order to maximize your chances of success, you need to be aware of the common mistakes that people make that end up killing their online business dreams. Once you master these common misconceptions, you boost your chances of being one of the 10% of people that do succeed. The choice is yours.  In the words of Debbie Auger, “Before you can master your business or your life, you must first master your mindset.”

Get Rich Quick

Some people believe that you can get rich quick, or are sold or marketed to believe this is true.  Every aspiring entrepreneur is inspired to make money fast so that they can have financial freedom.  However, if you want to achieve massive success in your online business you need to put in the hard work.  Success doesn’t happen overnight. Being an online entrepreneur can be a difficult road in the beginning stages.  A lot of people adopt the belief that if they take short cuts, they will make money faster. This is far from true. Doing so will only cost you down the road.

Sure, a lot of people are able to make decent amounts of money rather quickly, but these businesses don’t last. Soon thereafter these people are onto their next business venture because they didn’t invest the time and energy into building their business over the long-term. They become dabblers. Don’t you want to build a business that stands the test of time? If so, you need to invest in yourself and your success.

The reality is that if you build a business on a faulty foundation, it will fail. In the words of John D. Rockefeller, “If your only goal is to become rich, you will never achieve it.” You need to learn to enjoy the process and not be so attached to the outcome.

If I Build It, They Will Come

Some online entrepreneurs have the belief that if they simply build a website, customers will magically appear and buy their products or services. Guess again. In the current digital age, competition is high. Millions of other businesses are fighting for the top spot in the search engines. According to Google, 97% of consumers use the web to search for local businesses (Holden, 2013).

If people can't find you online, what is the point? Having a strong online presence is a critical component of your marketing strategy. One of the most powerful ways to attract more traffic to your website is through creating valuable content that adds massive value to peoples’ lives. This is what has allowed me to build a 7 figure online business. In the words of Tony Robbins, “If you add the value, you will become the brand. Find a way to add more value than anyone else does.”

Failure is Final

Failure is a reality of life, and a normal part of the learning process when you are starting an online business. Successful entrepreneurs understand that failure is one of the most important educational tools at their disposal. Behind every success story in business, is a challenge or a failure that was overcome. If you want to have an online business, you have to take risks; it allows you to experiment with what works and what doesn’t.

Oftentimes your greatest failures become steppingstones to success. Take it from me. I’ve failed multiple times in my business, but I have conditioned my mind to view those challenges as opportunities to grow, learn, and take my business to the next level. The master is one who has failed more times than the beginner has even tried. If you want to achieve success in your business, you need to fail more.

A 2017 report by Mu Sigma shows that failing fast and often is the best approach and the key to success in many areas of business. The Mu Sigma researchers define this in their analysis as “the power of extreme experimentation”, claiming that science can demonstrate that failure drives forward innovation. This research is proof that failure may be one of your most important assets in your online business.

Take it from Michael Jordan, who said, “I’ve missed more than 9000 shots in my career. I’ve lost almost 300 games. 26 times, I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed.”

These are 3 mindset mistakes to avoid when starting an online business. If you want to be successful in business and in life, you need to cultivate a mastery mindset. Shift your mindset and watch your business grow exponentially. Mastery is the only path worth taking.

Work hard, believe in yourself, and never stop learning. When you do, you will create a fulfilling, thriving online business that lasts for years to come.

Do you want to learn how to master your online business? CLICK HERE to join my Online Business Mastery Accelerator course!

 

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Five Things To Think About Before Becoming an Entrepreneur https://projectlifemastery.com/5-things-to-think-about-before-becoming-an-entrepreneur/ https://projectlifemastery.com/5-things-to-think-about-before-becoming-an-entrepreneur/#comments Sat, 24 Dec 2016 06:56:06 +0000 http://projectlifemastery.com/?p=5578 I receive a lot of questions from people asking what it takes in order to become a successful entrepreneur. Entrepreneurship isn't always an easy path, but it is a rewarding one. That is why I wanted to invite Victor Step, the founder of Growth Evolution Development, to write a guest post to talk about five things to think about […]

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I receive a lot of questions from people asking what it takes in order to become a successful entrepreneur.

Entrepreneurship isn't always an easy path, but it is a rewarding one.

That is why I wanted to invite Victor Step, the founder of Growth Evolution Development, to write a guest post to talk about five things to think about before becoming an entrepreneur.  Take it away Victor!

In today's world, owning a business is nothing compared to what it was 25 years ago.  Not only it has become relatively easy to start one, but many governments are also willing to give you a starting capital.

Despite the opportunities, and the amount of businesses that are growing exponentially, the amount of them failing is very high as well. I want to share with you five things to think about before becoming an entrepreneur:

1. Your idea vs. target market needs

There are many reasons why entrepreneurs and startups fail.  Many young entrepreneurs have high ambitions.   They have a desire to start a company as soon as possible. The first thing that you should consider before creating a business is the market and its needs.

Are you solving a problem that people are actually struggling with? One of the biggest mistakes that many young entrepreneurs make is starting a business that nobody cares about.  The reason for this is simply lack of market research.

 Just because you think your idea is great, doesn't mean that there is a demand for it.  Therefore, it is important to do research before you start any business. As the saying goes, better safe than sorry.

2. Management vs. leadership

Seth Godin, a famous marketer, writer and entrepreneur, spends a lot of time in his work emphasizing the difference between management and leadership.  He talks about the idea that there are plenty of managers that manage companies, but that there are very few leaders.

Leaders, unlike managers, are not scared to take risks and do whatever it takes, for the benefit of the company.  They are the ones that are ready to stand up and take their people to a whole new level.

In the words of Godin, “Managers want authority, leaders want responsibility”. Again, many of the new entrepreneurs that I have seen are quite transparent about the fact that they like the idea of others working for them.

In their eyes, authority is very attractive.  I think that this is the wrong mentality to start a business with, and something that won't be stable in the long run. If you want to have employees below you, you might as well join a corporation and have control there.

On the other hand, if you passionate about something, and you have great leadership skills, then it is a whole different story. Finally, you can always become a solo online entrepreneur or a freelancer.  You will still be able to have a business, but you won't need to worry about paying others.  For many, this is the better scenario.

3.  Money vs. passion

Concerning the success of a company, there are generally two opposing opinions. Some say that if you want to make money, forget about your passion, and rather concentrate on something that is actually profitable.  Once you start to earn your living that way, then you can go on and try something that interests you.

The other opinion states that if your business is not related to your passion, you will not be able to succeed.  Lack of consistency and interest will be a problem, and sooner or later, when you face difficulties, you won't have the motivation to keep pushing through.

I personally won't comment on this, since both of these opinions sound valid to me, but this is definitely something to think about before becoming an entrepreneur.

4. Be prepared for tough times

Very few understand how much responsibility is required in order to become an entrepreneur.

It is no coincidence that the majority of people in the world work for someone else. Being an entrepreneur is tough. If your income is directly linked to the amount of work that you put in, then be ready to spend nights working.

Working at a regular job is great, in the sense that you are always protected.   You have a steady income. When you are an entrepreneur, you don't have that safety net.  Be ready to work hard, face challenges, and most importantly, be ready to overcome them!

If you know that you can't allow yourself to fail because you have a family to feed, then considering starting slowly, and having a day job as a backup.  Decide what is most important for you, be strategic about it, and set your priorities accordingly.

In short, if you decide to become an entrepreneur, be ready to make sacrifices. You will need to put the interests of your business before your own.

5.  Expect an exciting life

Despite the difficulties that entrepreneurship brings with it, you can be sure of one thing – your life will be exciting! You will constantly be experimenting, learning new things, and implementing them.  Once you become an entrepreneur, your life will change.

With each new failure, you will learn to get back up and keep trying harder. With every new success, you will feel like you are on top of the world and that anything is possible. The entrepreneurial road is definitely rocky, but the rewards that come with it are amazing.

Conclusion

So many entrepreneurs fail because they neglect to acknowledge the basics that I mentioned above.  Regardless of whether you decide to become an online entrepreneur, freelancer, or a CEO at a startup, be ready to be resilient.

Failure is normal; it is there to teach you something and make you stronger. Remember, there is no failure, only feedback.

Victor Step is the founder of Growth Evolution Development, a company that helps people grow, evolve and develop to the best of their abilities.  You can connect with him via his website or by his social media links below.

Blog: ‪http://gedground.com

Facebook: ‪http://gedground.com/facebook

Twitter: ‪http://gedground.com/twitter

Instagram: ‪http://gedground.com/instagram

YouTube:  https://www.youtube.com/channel/UCgE7dKcOTw1HCL_5plQD7tA

 

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