MOBE Matt Lloyd Tips: Here are few tips on what you can do to increase your chances of becoming a millionaire.
1. Be Comfortable with Change
As an entrepreneur, you have to constantly adapt to new environments, new markets, and new strategies. Being comfortable with change and taking it head-on is one of the greatest advantages you can have in the entrepreneurial field.
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Change can mean choosing to leave your friends behind you, going to a new college, while working hard to learn, experiment and question. It can mean leaving your job and investing your savings in a startup. It could mean saving so much money that you struggle to feed yourself at night.
That’s, in a way, the reality of entrepreneurship. It’s a rare deal to find a successful entrepreneur who hasn’t gone through some difficulties.
2. Build up a Productive Routine
I am a great believer in routines, especially morning routines. A routine enables you to practice discipline. Discipline allows you to fight procrastination head-on. Once you’ve built this routine into a habit, you start to feel guilty whenever you don’t do it. Your body has a natural way of keeping you on track.
3. Write Your Short-Term and Long-Term Goals
This is what I find to be the most motivating for me. As soon as I write a new goal for myself, as soon as the ink touches the paper, it’s no longer just an idea or a dream. It becomes a challenge. I love challenges.
When you write a goal on paper, it transforms from a dream into a reality, and that is so important.
Writing down your goals …
- Clarifies what you want. Imagine setting out on a trip with no destination in mind. How would you pack? What roads would you take? How do you know you’ve arrived? To answer all these questions, you have to pick a destination. The same is true with writing your goals; it forces you to select something specific and decide what you want.
- Motivates you to take action. Writing down your goals is only the beginning of a long journey. Articulating your intention is important, but it is not enough. You must execute your goals. You have to take action. I have found that writing my goals and reviewing them regularly provokes me to take the next most important action, then the next.
- Provides a filter for opportunities. The more successful you become, the more you will be deluged with opportunities. In fact, these new opportunities can quickly become distractions that pull you off course. The only antidote is to maintain a list of written goals by which you can evaluate these new opportunities. The hard part is not to give in to your impulse and rigorously adhere to your goals and plan of action.
If you are a psychologist, you may be familiar with the works of Alec Mace. He came up with the idea that goal-setting is a way of motivating individuals in their work and lives.
4. Be Mentally Prepared
In entrepreneurship, you will have a few losses and a few gains. The losses can squeeze the life out of you. But, it’s important to know that if you quit, you have a zero chance of making it. If you pursue, you will have a shot. Here are a few things to be prepared for:
- Demotivation: Entrepreneurship has ups and downs. Sometimes, when you lose an investment, without a doubt, you will be heartbroken. It will feel like you’re no good at this. Your mind will go through all the scenarios that could have been altered in your favor. It will be difficult to get out of bed; you won’t want to see your friends and family because you’re demotivated.
- Rejection: The law of averages states that the more you try, the more chances you have of succeeding. Rejection is a natural part of entrepreneurship. I worked in door-to-door sales, not for the money, but for the experience. In a given day, I knock on 120 houses—five of which will be very rude, close to 80 will be “not interested,” but I would end up making about two sales a day from the rest. For a $800 product, that’s not bad. The trick is to be consistently enthusiastic in the face of rejection. Don’t let it get you down. Otherwise, you won’t make those two sales either. Be prepared for rejection.
- Headaches:I’m talking about migraines. Lack of certainty in business will push your mind to the edge. Sometimes, the rejection, failure and lack of prospects are too high, and you will break. The mind is very fragile and requires certainty in the future. When you take that away, it compensates. Be prepared for headaches and stress, which is fairly self-explanatory.
- Influences: When business is thriving, everyone is proud of you and brags that they know you—from friends to family to colleagues. When business is in trouble, everyone intervenes and proposes that you stop this “madness” and get a “real” job. Don’t give anyone this opportunity. Just because people want the best for you, it doesn’t mean they know you the way you do. If you believe in your business and know that it will be great, why give in?
Entrepreneurship is sweaty, and anyone who has started their own business knows this. From a lack of customers to a lack of suppliers to a full-blown major crisis, it’s hard work. But it’s important to know that throughout this time you will be accumulating experience that will serve you in your next venture.
I have started a few businesses myself, the majority of which didn’t pan out well and failed. The ones that worked were sold. I’m at a university studying Business and Management. As a result, I can’t afford to put my full energy into a business once it works, so I sell it eventually. These coming years are going to be my time to mess up, learn and get experience, so that when the time comes, an mobe matt lloyd tips for can 20s become millionaired I start another business, I have the skills to drive it in the right direction.