The BIGGEST Mistake Entrepreneurs Make

 

Studies show that the #1 reason entrepreneurs go into business for themselves is: they want freedom to control their own lives. 

It’s that simple. They don’t want people telling them what to do or how to do it. They also don’t want a ceiling on how much money they can make. 

Does this resonate with you?

I’d have to agree that it’s my primary driver.

In real estate, as in many businesses, people get started with grand visions in mind. Visions of financial freedom and control of their time.

Here’s the thing: That’s only going to come from a business that is automated enough to run without your involvement. If you aren’t willing to let go as you grow, you’ll only work harder and longer as the business becomes more successful. This is a trap that way too many entrepreneurs fall into. 

SO WHAT DO I DO???

In any business you wish to start, you have to start with lifestyle and work backwards. It’s the only way that you will arrive at the place you want to be. it’s the only way to have a good shot at living the actual day-to-day life that you’ve imagined for yourself. 

First start by answering these questions below. When you’ve realized your goal, i.e. you’ve built this business the way you imagine it…

*Where do you live?
*What does the business look like, generally? Deals per year, revenue, employees? How does the business make money, specifically?
*Who do you work with? What types of people are they?
*How many hours do you work per day?
*What type of work are you doing?
*What time of day do you work?
*What other things do you do during your day?

Another important variable to calculate is: Approximately how much money do you need to live this exact lifestyle? What does your house cost? Utilities? Groceries? Cars? Vacations? Tithing?

Using the answers to the questions above, write out what I call your “Perfect Day” in story form. Doesn’t need to be longer than a page.

You just might find that, to live your version of a great life, you don’t need nearly as much money as you might think (or as society has brainwashed you to believe you need). Many people’s Perfect Days involve time spent with friends and family, recreation, time spent outdoors, exercise, traveling, etc. None of which actually has to cost that much. Many people discover that freedom is the ultimate ingredient that they need to live their Perfect Day. Some level of money is required but it’s not the main thing.

Your Perfect Day is the starting place for everything. After that, you’ll create your vision for your business. They key is: your business must allow you to live your Perfect Day. It must allow you to live where you want, work when you want, work with whom you want, where you want, and on the things you want to work on. Your Perfect Day and your business must be an exact match for one another. Two peas in a pod.

This doesn’t mean that you won’t have to do things that you don’t like to get your business up and running. But, it shouldn’t take more than 6 months to 2 years to have the business built in such a way that your Perfect Day is being realized. 

Use your Perfect Day as your guiding light. Everyday when you start work, ask yourself: “What do I need to do today in order to move closer to living my Perfect Day?” This prevents you from just blindly growing the business and likely creating a monster that, instead of enhancing your lifestyle, proceeds to destroy it. 

This article may come off as highly conceptual and even a little cheesy. I advise you to go through the exercise before you judge. It’s come to be some of the most powerful business advice that I ever had to learn. Unlike me, you don’t need to learn this lesson the hard way.

Please, post your questions down below. What is holding you back from living YOUR perfect day???

Brian Ellwood

Brian Ellwood is an author, investor, and entrepreneur. Brian is passionate about helping others take what they love and make it into a real business that can make them money and give them the freedom they are after.