Moving Entrepreneurs to Millions® since 2011

What Entrepreneurs and Business Owners Must Be Willing to Sacrifice to Build a Business

Okay, so it’s quite likely that someone rubbed what I like to call “love dust” on your eyes and you someone fell into the lie that you can build your business without having to sacrifice some things.

Shame on them.

The truth is, if you want to be successful at ANYTHING, you’re going to have to give something up to make it happen.  Whether it is sleep, free time (if you’re trying to build while working a full-time gig), entertainment and luxury vacations or just vacation period, something’s gotta give.

I know for sure I am not the only one entrepreneur and business owner who did.  And I pray that your sacrifice will not be as drastic as mine – and it can be if you do what I suggest in this week’s episode of Incredible Factor TV.  But, before I get ahead of myself, let me share Sam’s question with you:

“Hi Darnyelle.  I may be wrong, but it seems like you’ve sacrificed to build your business.  I can feel it in my bones that I am supposed to have a business that adds value and builds wealth for my family and I admit, I’m a little fearful right now about stepping out on faith because I don’t want my lifestyle to suffer as I build my business. Can you keep it real with me and tell me what I really need to be willing to give up to have a successful business?”

Watch this week’s episode to hear my response to Sam’s question.

 

 

As I share a lot in the episode, you may be able to avoid what I experienced in the business building process if you do this one thing:

PLAN. Prepare to Live A Non-negotiable decision.  That’s right.  Planning is non-negotiable.  And, when you plan, you set yourself up for the success you want. As I like to say, what gets attended to actually gets done.  There are tons of stories and statistics that corroborate the statement that when you plan, the likelihood of accomplishing what you plan goes up significantly.

Here are some of the things I recommend you plan and consider BEFORE starting a business:

  1. Your lifestyle during the transition.  I believe that having 12-18 months income saved to cover your bills and basic start up costs is essential.  In order to do that, you may need to make some adjustments in your lifestyle.  I downgraded my car, stopped eating out frivolously (I also lost some weight)  And you need to make sure your family is on board with the transition.  Any extra grief as you try to prepare to start a business will likely send you to the school of doubt and fear.  I honestly suggest that you create what I call a life plan that takes into account your business plan.  If you want to enjoy the finer things in life, you need to plan to do the work to have then.  Nothing is off limits if you’re willing to do the work. And please know that if you create and work the plan, the time away from the things you love will be short-lived in the overall long run.  As they say, short-term sacrifice for long-term rewards.
  2. How you’re going to build your business to fill the gap left by quitting your “good job.”  Essentially, your business plan.  In my opinion, gone are the days of the over zealous and often redundant business plan (unless you’re seeking financing and capital from a bank, that is.)  If your business doesn’t need outside funding, you can likely get away with a detailed one page business plan. If you need guidance creating the plan that answers the basic answers necessary to build a question, a qualified business coach ought to be able to help you.
  3. What you’ll be willing to sacrifice during the transition period.  You can’t chase two rabbits and expect to catch both, so something has to be adjusted.  What will it be for you? Sleep, luxury lifestyle, shopping, dining out, entertainment, nights and weekends, time with loved ones… something will be affected by your desire to burn the box of being a conventional employee to become an entrepreneur.
  4. What you’re going to do when you achieve your plan.  I believe in celebrating so how will you celebrate the accomplishment of your goal?

Now I want to hear from you, what’s your two cents?:   
What else haven’t we considered? What do we need to add into the equation to help as many people in the same position as Sam be ready to make the sacrifice boldly toward living their dreams?

©2014 by Darnyelle A. Jervey. All Rights Reserved. Darnyelle A. Jervey, MBA, The Incredible Factor Speaker, Business Coach and Marketing Mentor, is the founder of Incredible One Enterprises.com, Incredible Factor University® and the Leverage Your Incredible Factor System®, a proven step-by-step program for more clients, more income and more leverage in your business. For more information and a FREE audio CD “7 Critical Mistakes Even Smart Entrepreneurs Must Avoid for Clients, Connection and Cash Flow!” just fill out the form below.

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