Here is the final installment of my three part series. Before you quit your day job. In the first part I told you not to be seduced by the sensuality of leaving your job. In the second part I gave you five steps to Get your financial house in order. In part three, I’ll give you five more steps to take plus one extra step to make your business successful before you quit.
Build your wealth part time
Do something you’re amazing at
I have seen many home business owners join the wrong business because of the promises of riches. Selling lotions, potions, and magical notions isn’t smart if you don’t like promoting those products. I have watched real estate agents fail for years because they hate selling, showing houses, or writing contracts. People start blogging and hate writing. Don’t waste time on the wrong business.
Here’s a hint that you know what you’re awesome at. If you don’t, ask your wife, partner, or close friend. You excel at something and you can make money doing exactly that. I write and I speak. I am successful in my business because the core of my business is writing and speaking. I sell houses for writing and talking. I grow my business on the Internet by writing and speaking. Find your amazing and do it.
Put in the reps
The fact is that it takes time to prosper in business. It took him time to learn to ride a bike, to learn to drive, to swim, heck, it took him time to learn to do his job. It is the same for your business. Those stories you hear about people who hit the jackpot in 90 days, those rookies who made six figures in six months, they put the reps in.
If you examine successful people, they struggled early in their businesses. They put reps with failed companies, failed deals, lost sales, and bad products. They lost money on marketing, product launches, and sometimes just plain bad luck. They went through the routine.
Practice practice practice. Put the representatives to improve in your business. When you keep your day job, you get to choose the people you want to work with and the products you want to promote. When you have an income you have time to learn and fail. Losing a deal doesn’t determine if you can eat this week.
You’ll be wrong, you’ll forget to put the right website link in your email, those marketing campaigns will fail before you find the right one. You will spend days without working on your business. You will miss important meetings. These things happen. That’s why we practice. Athletes put on the reps, cheerleaders put on the reps. You need to put the repetitions.
Find 30 minutes every day to work on a skill that will bring cash flow to your business. If you are a blogger write blogs. Learn a marketing technique and master it. Learn to sell and enhance your talents. Play the reps.
Find a successful business model
Make sure you put the representatives with a successful business model. To be successful you need to follow successful people. Franchises are the most successful forms of business because they have a proven method of success. 67% of franchisees are successful with their business. They follow a model. You have to follow a model.
98% of home businesses don’t make $100 a day. Easy entry fees make it easy to quit and move on to the next big thing. Tired of starting over. Stop Quit Smoking. Keeping your day job allows you to find a proven business model system that fits your talents and strengths.
Marketing is the key to steady cash flow
When you find your business success system, make sure it comes with a marketing plan that you can afford and implement. Marketing brings sales. Marketing promotes your brand. Your work will provide the money for your marketing. Are you getting the point here? Marketing is the fuel that keeps your business cash flowing.
Focus most of your energy on marketing and sales. It must bring traffic to your business. You have to keep an eye on your websites, social media accounts, emails, and videos. You need to attract people to your store, whether it’s online or offline.
There are hundreds of marketing strategies, techniques and systems. You cannot use all of them or pay for all of them. Find 3-5 techniques and master them. You can outsource the rest later.
Win with personal development
To build your business you need to build yourself. Dedicate between 30 and 60 minutes every day to personal development. Find a skill you want to learn and attack it with the intensity of a gazelle. There is plenty of downtime where you can read a book and listen to audio. Focus on marketing, self-help, personal finance, investing, and anything related to your industry.
Leaders are readers. With smartphones and tablets, there are no excuses why you can get your personal development. Work to become an expert in your field. Read, listen, act and repeat. Don’t be a jack of all trades. Master one thing at a time and you will grow yourself and your income.
Bonus Step: Join a Mastermind Group
Surround yourself with a group of successful entrepreneurs. Join an intellectual group of like-minded people who want you to succeed. Learn from business owners who have been where you want to go. Success leaves clues. Being surrounded by people who share the same goals will help you achieve your goals. Find a Toast Masters International group or online community.
conclusion
Sounds like a lot of hard work and discipline. Well, that’s because it is. This will require sacrifice, it will be painful, you will need to drop some balls that you are juggling. Be like with your work because it will lead you to success in your home business.
Here are the 10 steps to take before leaving your day job:
- Keep your day job
- Create a cash flow plan
- $1000 emergency fund
- Pay all non-mortgage debt
- Fully funded emergency fund for 3-6 months
- Find the right business
- Put in the reps
- Find a successful business model
- Marketing is the key to steady cash flow
- Win with personal development
Before you quit your day job, count the cost of money and time lost if your business fails without these 10 steps in place. Implement these ten steps before the sexiness of quitting draws you in. When your business has steady cash flow, you’ve paid off your debts, and you have a fully funded emergency fund that you can announce to the world that you’re quitting. Make a YouTube video, put it on Facebook and make it part of your success story.
