Let me tell you a story, of how I went from an office employee making $35K a year to an online entrepreneur making multiple 6 figures from my laptop.
Back in 2010, I got involved in a lot of self-development materials.
I wasn’t even that business-minded at the time, I was in college & I just wanted to get laid.
But as I looked deeper into some of the self-development stuff, I fell in love with this notion that in order to attract the type of successes I wanted in life, I needed to work on myself and make myself a better human being first.
I can say that self-development is still very important part of my life.
However, I noticed something about the self-development field.
Many of the books & teachings can sometimes convince you that all you need is the right mindset and the rest will take care of itself.
The money will come.
The right relationship will come.
The business will come.
It’ll all just happen.
You don’t even need to know how!
Fake it till you make it.
So you end up walking around pretending like everything is going great, just focused on feeling good, & pretending like you’re a big shot, because you were told if you keep this up long enough you’ll become successful.
Sort of this blind faith in magical thinking.
I went through this phase myself.
I now think its bunch of bullshit.
There was so much time I wasted, lost in my mind and dreaming about the good life, instead of actually living it.
I’d talk the talk, but no walk.
Many years I wasted working on my mindset but not actually producing any tangible results, I wasn’t making much money.
In fact, after college I got a 9 to 5 job that paid me entry-level salary of $35,000 per year.
It wasn’t till 2014, when I joined a coaching program and hired my first business mentor, did everything begin to change for me.
Chances are you found this article because you run a small business or you’re wanting to start one and become an entrepreneur?
I’m going to clear away some of the most common questions I receive from my readers.
& go into why a mentor or a coach is so important, how do you pick the right one?
How did it change the trajectory of my life?
I’ll give you some real tangible benefits that I’ve seen since hiring my coach.
Why Every Aspiring Entrepreneur Should Hire A Coach Before Getting Into Business
This is a concept I later found out through one of my newer mentors, Dan Lok.
He says that most people fail in business because they jump into a business opportunity without developing your high-income skill first.
Dan breaks down 3 ways to make money in this world, what he calls the Wealth Triangle, its the science of getting rich & staying rich.
- Your High-Income Skills
- Your Scalable Business
- Your Longterm Investments
One thing for certain in business, it goes up and down.
There’s good times & then there are some slow times.
God forbid, something could happen to your business as well due to unforeseen mishaps.
However if you had a High-Income Skill, it gives you financial confidence & stability because you can always count on yourself to make you money.
Dan says you don’t even need #2 Scalable business, some do really well with simple #1 and #3.
For example, Floyd Mayweather.
He is incredibly wealthy because of his High-income skill of boxing plus he makes longterm investments.
He doesn’t necessarily have any scalable business.
His strip club is not a scalable business.
A scalable business is something with very little overhead.
Now look at someone like Tony Robins, he still trades in time for money every time he gets up on stage and talks.
Now that’s a high-income skill.
Tony has other businesses & investment making him money but he also continues to develop his high-income skill of public speaking to make him money as well.
if you’re still not making 6 figures or more, or don’t have the lifestyle you want because you’re getting crushed by your business.
Chances are you don’t need another motivational type of mindset coaching.
What you need is a coach that’s going to give you a high-income skill.
If you feel you need some mindset or motivation coaching, chances are, you’re not ready to be in business for yourself.
The desire to make it in business should be so great, & the why so powerful, that all your fears & insecurities are no match for the overwhelming drive within you.
People over complicate this.
If you’re having little mental blocks stop you, you need to go back to finding a more powerful why.
The reason why you want to get into business for yourself.
So you can spend more time with your kids?
Make more money to financially support your parents or family?
For me, at age 25 it was so that I can stop wasting 40 hours of my life every week at a job that I hated.
Once you got a strong enough reason, your “mindset” is all set.
You will be driven, motivated, dedicated & tenacious.
What you need now are skills.
Without High-Income Skills, you’re rolling the dice on some business opportunity, & you won’t even have the income to invest properly in your business.
So the #1 return on investment when hiring a coach is the skills they teach you, & its this skill that will make you millions.
When you have the skill, that is something that nobody can take away from you.
My mentor taught me the skill of lead generation using Free Traffic, this is what allowed me to build my first successful online business, a business that’s now doing $50K per month today.
How to Spot a Good Coach / Mentor
Find someone that’s doing the things they’re teaching and being successful at it.
This is key.
If what they are coaching you is really the good stuff, then they should be actively running that business themselves.
A mentor can collapse a decade worth of experience into matter of weeks.
They teach you what to do and what not to do, and give you practical, actionable steps that produce results.
Success becomes inevitable with the right mentor.
Given that your mindset is good.
They say education is important, what they forgot to tell you was, education should never stop.
You need to take responsibility for your on-going education.
We should be taught this important message.
Books are great.
Mentors are even better.
Find someone that’s at a high level, with a lifestyle you desire, and have them show you how to get there. Its really that simple.
Your High-Income Skill & Scalable Business
Another mistake I see a lot of people make when entering into a business is to go into something that’s completely different from their high-income skill.
If you have great skill in sales or writing copy, then don’t suddenly go into the restaurant business.
#1 because restaurant is not a scalable business.
Its too much overhead to expand. Cost of the building, staff, food expense, etc
#2 you’re not stacking on your success. Restaurant business doesn’t really get that much help from your sales skills.
This is why Gary Vaynerchuk really stresses on the importance of self-awareness and trippling down on your strengths instead of trying to get too much on your plate.
What he’s really saying is, try your best to discover your talent & uncover which high-income skill you may have natural knack for and go master that skill, then try to see if you can build a scalable business around it.
If you don’t know what your talent is.
Then at least just “go do shit” as Gary V would say.
Go learn a high-income skill.
Work your way up to at least $10K per month with your high-income skill.
Then you can begin doing some of your services to yourself to build your own scalable business.
When you know you have a skill that makes good money for you, you’re in a much more empowered position to be doing business.
You will be more clear & intentional. Less desperate.
The irony is… Money comes to those that don’t need it. That don’t act desperate.
When you know that you have yourself that you can always count on, regardless of what’s happening in the outside world, that’s true confidence right there.
For me, I know the internet’s not going anywhere anytime soon.
So I’m confident because I know how to generate leads online.
Before this skill, I was lost, I didn’t know what I should be doing with my life or how I can make money online or even start a business.
What made all the difference was a mentor that taught me a skill that I can use to make money with.
& Then this mentor gave me the exact blueprint to build a scalable business around that high-income skill of lead generation.
At the time I didn’t know about the wealth triangle.
I just followed exactly what my mentor showed me.
& that was enough.
It’ll be enough for you too.
Don’t need to know how it’ll works.
Why some people succeed while the majority of others fail?
Is it ambition?
Natural born Talent?
Imo its many of those things, I definitely think there’s some luck involved.
For example, I’m lucky as hell that I found the mentor that I did because in hindsight online lead generation skill is in great demand right now.
Every small business now needs to do marketing online but the problem is most business owners are too busy running their business, they don’t have time to keep up with the ever-changing online marketing landscape. So they’re in need of a lead generation specialist that can do all of their online marketing aspect of their business for them.
I also feel lucky that lead generation is not only a skill but also a scalable business. There is virtually no overhead, aside from some domain & hosting cost, once the site is ranked its pretty much pure profit. You can scale this business to the moon and back. This is the true advantage of running an online business, it is insanely scalable. #leveragetechnology
We already talked about this. You being mindful of your thoughts & ensuring you’re taking in enough personal development to make sure you have the right mindset is a given. Get that book or audio program if needed. Get yo mind right. Have any doubts or fears? Find a strong why & have that give you a reason so strong that you’re going to do whatever it takes to become successful.
Not everyone has ambition. When Jordan Belfort had to identify the #1 inner game quality that contributes to someone being successful, he said “ambition”. Sometimes it has to be revoked within. But chances are if you’re reading this article, you’re ambitious.
Hard Work Myth & Skills?
of course hard work is important, but perhaps bit overrated, the people that are massively successful are on the surface working hard but they also have other things going for them.
They have a natural knack for what they’re doing, or in other words they have a high-income skillset that they’re really good at, so “working hard” is fun for them. You hear high achievers & top performers say all the time that it really doesn’t feel like work. To explain this phenomenon, they’ll say things like “you gotta love what you do” but people take that literally and think its the same as “do what you love, and the money will follow”
how many of you have heard that saying before?
Its complete bullshit.
I love veging out on my couch and watching some UFC.
Does that mean I can just do that and the money will come?
“Love what you do”
really means develop a high-income skillset that you enjoy doing.
You may not initially know what this is at first.
So go develop many high-income skills and you will find out soon enough which ones you really have a knack for.
Like damn “I’m pretty good at this.”
Too many people are looking in the wrong place for wealth. Common Mistakes
- Just work hard philosophy will not work if what you’re doing is not a high-income skill. A high-income skill is a skill that will allow you to make at least $10K per month.
- Jumping into a business you know nothing about. You need to stack on your success. First, develop your high-income skill so that you develop experience & know about how to actually go make money for yourself before jumping into a business.
- making bad investments – this is where you have your money make money for you. You have the least amount of control. The only time you should go down this path is when you have a scalable business that’s making you so much stinkin’ money you don’t know what to do with it. Or very high-income skill that’s making you more money than you can spend & you don’t want to run a scalable business.
- Abandoning what got them to the dance in the first place, bad move in business is when we get attracted to the next shiny object and we abandon the high-income skill or business model that was working for us and try to go do something new & different. Its usually never a good idea to completely abandon on whats been getting you high-level income. Cash flow is king. Don’t be a fool and neglect that money that would have come into your life if you had stayed the course.
- Lack of continual investment in yourself. Ultimately what gives you the most stability as an entrepreneur is investing in your skills. Continue to get mentors & surround yourself with like-minded people to keep yourself on point. You’re the primary asset.
These are simply the common mistakes we see in our students and some of these lessons I learned from my mentors as well as my own mistakes throughout the years.
This is why having a mentor is so key.
Saves you time & millions $$$ in costly mistakes.
Running a small business or becoming an entrepreneur is not for everybody.
First of all, you will face adversity so it’s only for those that have a strong enough why.
A strong reason of why they want to be in business for themselves.
This is the absolute requirement to have the entrepreneurial mindset.
Once you have the mindset, you need a strategy.
You need some legit skills.
Remember you’re the #1 asset in business. You’re the most reliable X factor in any business you might start.
Instead of jumping into a business with no prior experience.
You would greatly minimize your risks for failure, if you simply work on developing your high-income skills first that allows you to make at least $10K per month.
A skill will always allow you to make money for yourself, even if that new business was to fail.
You’ll still be alright.
This is the kind of financial confidence every entrepreneur should seek for as their number 1 priority.
Seek for skills, not the perfect business opportunity.
Seek financial confidence, not financial freedom.
Instead of looking for ways to pull money from the marketplace, look for ways to make yourself into a person of value that can deliver tremendous value to the marketplace first.
The fastest path to getting that high-income skill & making yourself a person of high value?
Get a mentor/coach.
This is step 1 of building your wealth triangle. Getting rich & staying rich in life.
Once you have the high-income skill, now you can begin looking into building a scalable business.
Ideally you want a mentor for that as well.
The third step is making long-term investments which I’m personally not there yet.
But I see so many people that don’t even have a high-income skill or scalable business, start making these long-term investments.
Like some mutual fund.
This is why most people fail at getting rich.
A lot of it has to do with the fact that we were simply given bad data by our schooling system.
The person starting at zero, should not be saving any money for the stocks or some investments.
They should be saving every last dollar towards investing into a mentor first that’ll teach them a high-income skill.
That’s the first piece of the wealth triangle, its the #1 priority, if you seek truly sustainable success.
The sole reason why I was able to build my successful online business at age 25 and quit my 9 to 5 job, was because I got super lucky and found a great mentor that taught me a high-income skill plus a scalable business at the same time.
Instead of saying “I’m self-made”
its more like “I’m mentor-made”
I didn’t know it at the time, but starting a local lead generation business I was hitting 2 birds with 1 stone.
I was learning an extremely in-demand high-income skillset that also translates seamlessly into building an online scalable business.
I was one of that mentor’s original success students, but he has since then created many more.
I’ve now partnered up with him to promote his coaching program even more. I believe in this skill & business model 100%.
Every business these days need a lead generation system.
Gary V says in todays world every business owner also has to learn to become an online marketer.
Well whether you’re an aspiring entrepreneur or a small business owner, learning the high-income skill of lead generation is imo what’ll give you stability & financial confidence. Go here to get more info about our coaching program.