If you want to make money online or build an online business, then there are three important questions you need to ask yourself to make sure that you are on the path to true success. I learned these from Seth Godin and Tim Ferris, both #1 best selling authors in the business and self-development space. (by my mentor Matthew Graves)
Asking questions of yourself is critical to success. If you don't ask questions, then you cannot have a plan that will work for what you want out of your business.
The first question you need to ask yourself is "what resources are you willing to put into this?" How much time and money are you willing to spend? How much risk are you willing to take? How much of your mental and emotional energy are you willing to devote to building an online business.
This is very important because your answer can make or break your business. If you are not willing to put very much time or money on the project, then you will probably get very little results. Building an online income requires a large amount of time or a good amount of money to hire expertise. Most people underestimate the time and money needed while over-estimating the results they will get. That causes people to quit.
The second question is "Who do you want your customers to be?"
The reality is that every business has customers and you will have to spend time working with them or creating things for them. If you don't like your customers, then you will be very unhappy running your business. You want to build a business where you work with people who you like.
The third question is "What do you want to get out of this?" Some people are looking to change the world, or make 7 figures. Others would be happy to make $100 a month. Some are creating their business as a productive hobby and care more about the work than the money.
You need to know the end result you want from your business. After all, how will you know if you have achieved your goal if you never know what you are shooting for.
All three of these questions work together and some combinations of answers are just not possible.
For example, if your goal is to make 6 figures a year, but you are not willing to spend more than $100 and 20 hours a month, then you will never reach your goal. Those two answers are not compatible with each other.
Once you answer these three questions, then the very important next question is ...
"What business will let me accomplish all three of these goals?"
Many people fail simply because they start with an idea and then try to make it accomplish their goals. That is backwards. You need to start by understanding what resources you are willing to put in, who you could work with that would make you happy, and what you want to get out of it. From that, you can choose the business that best fits. You also need to check with someone you trust who has experience to ask if what you are planning is possible.
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