If you ask me, the only way to become rich, especially before you’re old and grey is to start a business. Unfortunately, building a successful business is easier said than done which is why the majority of businesses fail within the first few years of operations. However, I believe that if you have the right systems in place, sidestepping business failure is possible and as such here are 5 habits you must have to build a 6-figure business!
Habit #1: Scrutinizing your time
We’ve all heard the saying “time is our most valuable resource” however I don’t think you can truly understand the real value of this statement without having run your own business. You see, the majority of adults work within the standard 9–5 model. This means that for 35 or more hours a week, they are on the clock performing basically any tasks their bosses require. While I am not knocking this means of making money, let’s face it, it’s not set up to entice you to make the most of your time. Whether you squeeze out a fully productive 8 hours of work or work for an hour and surf Reddit the rest of your day, for all those salaried employees out there, the pay is all the same.
Now, this may fly when you’re working on someone else’s clock but when you are working on your own business, there is no time to waste. In fact, it’s this wasted time that contributes to the terribly low success figures you see around new businesses but now you know better. You know that time management is a key component in running a six-figure business. So, how do you ensure you are making the most of each and every day you have? Simple, you scrutinize your time.
While I am no master of time, I can tell you that learning to manage my time better has been one of the driving forces of my own success in the three years since starting my first online business. I’ve been fortunate enough to have built up a six-figure business on the back of my YouTube channels and freelancing work all while working a time intensive job as a CPA. How did I do it? I ensured no single hour went to waste.
The best advice I can give someone trying to get a business off the ground is to routinely perform audits of their time. While things like knowledge and capital are essential resources in any…