4 Tips For Aspiring Entrepreneurs To Work Smarter And Generate Passive Income

One of the most common things you will hear someone with a good formal education say is:

I spent X amount of years and thousands of dollars or euros in tuition fees trying to get the education that would give me a successful life. But one of the things I wish they taught me in school was how to grow my money without pure hard work and struggle.

Bet you or someone you know has said or thought the same thing a few times in recent years, right?

Well, I may not be fortunate enough to make that same statement because formal education wasn't a possibility in my situation, but I have been raising a family and children {one of whom is my actual biological child} for decades now.

And I certainly don't want my kids to grow up, invest tons of time and money in school only to carry around that same paradigm.

So, for your sake and our children's sake, let's stop the madness!

The madness of depending on a single income that's based on trading time for money.

Instead, let's expand your mind a bit more so you can act, think and lead like a true entrepreneur.

All entrepreneurs and digital marketers already know the number of hours one works isn’t what matters. Rather, it’s the quality of your time and effort that drives success.

But most aspiring entrepreneurs are coming from the corporate and employee mindset where it's mostly about clocking hours.

The employee mindset is typically the social conditioning that - hard work equals success. I am not here to debate this because I am a strong believer in having a strong work ethic. But there's a huge difference between working hard and working smart.

The sooner you learn to work smart and increase your level of clarity around making money the better.

Sharpening your focus, vision, goal achieving process and growing yourself and your business through leverage will lead you to a higher quality of life and more financial freedom. Guaranteed.

To help you ignite that momentum today, how about implementing these four suggestions immediately.

Tip #1: Focus on the higher income producing activities.

Get your DMO right: 

As an aspiring entrepreneur, get over that sloppy notion of overnight success. There is no such thing and even if there was, I'd rather it not be something you are striving for - unless of course, you're not really passionate about entrepreneurship.

I like to tell my clients the journey of entrepreneurship and motherhood are very similar in my opinion.

They are both long-term investments that require work!

When done right, they are rewarding beyond material measure but one must perceive it as such. There is a proper way of ensuring the growth and success of this long-term journey. I call it your daily method of operation.

Most people never get wealthy simply because they are not trained to recognize opportunities right in front of them. Robert Kiyosaki

?? Success is based on what you do on a daily basis correct?

Increased income will be no different.

The more you know what the major income-producing activities are and consistently perform them with excellence, the more predictable your results will be.

How many hours a day are you going to work on your business?

We all have 24 hours in a day. No more no less. Yet how is it that some people are able to get so much more done in the same amount of time?

Do they have some superhuman power you and I weren't born with?

No, they just understand earning more money in less time comes down to identifying those little hinges that swing the big doors. 

Ask yourself, “What are three highest-income and impact activities I can take to advance my business today?” 

??Tip:

Focus on these specific activities to completion before moving on. I recommend including in your DMO some form of physical exercise because my belief is - is a wealthy entrepreneur!

#Tip 2: Renew your mind, learn to master your emotions and develop the leader in you:

Your mind is your greatest asset as long as you learn how to leverage it appropriately.

Some of the most successful entrepreneurs have a ritual of daily self-improvement. Challenge yourself to spend the first 30 minutes and last 30 minutes of every day reading something positive that will expand your mind and enhance your skillset.

Your business can grow only as much as you allow it to, and that growth starts with you.

You likely moved into the world of entrepreneurship to have more freedom and flexibility. Implement these few things and you will find that you do not need to trade dollars for hours and that freedom that so many seek will become your reality.

??Tip:

Choose one book that will grow your mind and one book that will grow your business. Commit to reading each of these books a few minutes a day.

Alternatively, join a class, mastermind or get Audible if you're really short on time. But whatever you do, prioritize a little time each day to self-educate.

#Tip 3: Surround yourself with great mentors:

The late entrepreneur Jim Rohn said that “You are the average of the five people you spend the most time with.”

??Who are your five?

Have you ever taken time to consider who is influencing your life?

Are they already living the life you want to be living? If not, what does this say about you and your ability to genuinely serve your prospects?

Are they normally approaching life with a downward tendency or an upward, hopeful, positive expectancy?

If you want to take your life and business to the next level and free up more time, surround yourself with mentors who are already living that lifestyle and can guide you along the way.

In essence, this was the decision I made for myself a few years ago. A lifestyle business that was flexible, impactful, lucrative and not location dependent was what I was after.

Although I live on the Riviera which is absolutely stunning, I wanted to see more of the world and enjoy tropical paradise weather during European winter season.

The only way I could have that much freedom while maintaining an opulent lifestyle was to figure out who else was genuinely doing something similar. And so I did!

It's not easy to drastically change your lifestyle on your own. Especially if you are coming from a scarcity mindset and background.

Very few people can uplift, support and give you tough love when you need it. Good mentors like the ones I have should be able to deliver on all those points and so much more.

They must be the demonstration of what you feel is a good prosperous life.

This is where your mentor comes in. This individual will be able to look at you objectively and give you actionable guidance based on his or her experience. This will accelerate your progress drastically.

??Tip:

If you want to keep up with our fast evolving world, accelerate progress and have the support that you know will help you get through tough times, invest in yourself.

Get a mentor that you resonate with. It'll do wonders for your personal and professional life. You can check out one of my mentors and see if he's a good fit for your current goals.

#Tip 4: Integrate technology that amplifies your efforts

In my blog, I shared 9 technologies and software products that will set you up for massive scalable growth and success.

If working smarter not harder is a philosophy you desire to make practical in your small business then learning to leverage technology will empower you tremendously.

??Food for thought:

Trying to do everything on your own in an attempt to "save" or not invest in yourself, your business or the right kind of mentorship will actually derail your success and freedom based lifestyle.

Whether you've already started a side business, thinking of starting one or looking to generate passive income, give yourself the gift of leveraging the strengths, knowledge, experience, and gifts of others.

Business is a team game that's something I've learned the hard way.

These strategies and suggestions are foundational pieces that can help you establish something epic in a relatively short time-frame.

You don't have to implement all of them at once, simply go through each of them then pick 2 that align with your current needs and go all in.

Great leaders know the future belongs to those who are competent; those who lead from the Soul; those who act on their ideas as much as possible.

May you emerge as you best version of a great leader and thriving entrepreneur.

Now I would love to hear your tips and ideas. Did you check out the growth hacking secrets that I shared?

Which ideas here resonate and what could you add to this to help us level up as well?

??Looking for a simple resource on how to start and grow your part-time or full-time business? This will give you all the answers you need.

Until our next chat OR your wise comments below, may you experience peace and prosperity.

Janette.