Preview - The Entrepreneurial Lifestyle [eBook]

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This is a preview of my eBook "The Entrepreneurial Lifestyle - Proven Ways for Mastering Every Challenge". You can buy the full version here: http://store.mygreatonlinebusiness.com/product/the-entrepreneurial-lifestyle/

The book is about the mindset of entrepreneurs, that helps to conquer challenges and become successful. Letting go of fears, doubts, and worries is very important, though a lot of entrepreneurs struggle with that.

In my past I developed several methods to overcome those fears, that came back into my mind constantly. Am I good enough? Will I be successful? Why would anyone listen to me?

Those and other fears will no longer limited you, when you finished this book.

I interviewed great entrepreneurs, who share their knowledge as well.
Some them are:
NEIL PATEL - Founder of CrazyEgg and KISSmetrics
JEREMY FRANDSEN - Co-Founder of Internet Business Mastery
SPENCER HAWS - Host of nichepursuits.com and creater of LongTailPro
and many many more!

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Preview - The Entrepreneurial Lifestyle [eBook]

  1. 1. Preface 3Introduction 5About Me 9Entrepreneurial Principles andValues 11Education 11Creativity 16Communication Skills 19Integrity 22Efficiency 24Thinking About Time 27Thinking About Money 29Starting My First Business 31Start a Business and LiveYour Dream? 31Getting Into The Daily Business 40Overcoming Fears 48Fears and Doubts 52I Am No Expert 55I Don‘t Know How to Start 58I‘ve Got Nothing to Say 61Nobody Will Listen To Me 63What Will I Do if I Fail? 65Will I Make Money? 68Others Are Already Doing What I Want 70My Passions And Skills Aren‘tValuable 72What Will My Family Think? 74How Much Will I Have To Work? 76Interviews 78Neil Patel 78Jeremy Frandsen 80Spencer Haws 85Josh Taylor 88Arslan Khan 91Matthew Magain 94Elena Korsakova 100The Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge2
  2. 2. PrefaceHi I’m Jan and I want to show you how I changed my life by adopting anentrepreneurial lifestyle.I started building my first business in April 2012 and since then I havedeveloped methods to overcome problems and to conquer challenges. ThiseBook will elaborate on what the root causes of most problems are and how tokeep your confidence to go on and successfully master new challenges.What makes internet businesses successful is the ability to overcome difficultsituations. When a problem arises, fears and doubts flood our minds.This is human and nobody is immune to this.This eBook will explain how you can handle problems, overcome doubts and avoidbeing limited through worries and fears.Obviously, I had no experience in running a business when I started my firstcompany. Learning by practice I came to understand which principles deliversuccess and which methods cause trouble. When you run a business, you needto consider numerous things. It happens pretty fast that you get overwhelmed,especially when you‘re starting an internet business for the first time.The successful entrepreneur is able to keep confidence in even the most difficultsituations, to get the necessary knowledge just when he needs it and to makethe right decisions. Desire and motivation is the key to success.I want to show you, how the REALLY successful entrepreneurs handle theirbusinesses.The Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge3
  3. 3. For that purpose I‘ve interviewed the following entrepreneurs and integrate theirexperience into this eBook:• Neil Patel - founder of KISSmetrics and CrazyEgg• Jeremy Frandsen - host of Internet Business Mastery and podcast expert• Spencer Haws - host of NichePursuits and creator of LongTail Pro• Josh Taylor - social entrepreneur and host of JoshingTalk• Arslan Khan - co-founder of i-Intellect Inc.• Matthew Magain - co-founder of UX Mastery• Elena Korsakova - yoga teacher and certified public accountantYou may have heard about these people previously. They are already makingtheir living through internet business. Their success stories prove that itsdefinitely possible to earn money online running an internet business and to quityour day job.I‘ve also integrated interviews from less well-known entrepreneurs, so you cansee that success isn‘t only tied to big names.Whether you want to start your internet business or you are already apassionate entrepreneur, you‘ll have to face challenging moments where doubtsand fears play on your mind.• Will someone listen to me, even though I’m not an expert?• Will I earn enough money to pay my bills?• Will the new product sell or am I wasting my time?• What will my family think, when I quit my 9-to-5 job?• What will I do when no money comes in?It all starts with overcoming fears and doubt.The Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge4
  4. 4. IntroductionThis book is about overcoming struggles and roadblocks in online business.Every entrepreneur has to face his fears and doubts at some point. Minedetermined my life for several years until I finally took action and started to fightthem. Even though I‘m only 24 right now, I have a lot of experience withovercoming fears and struggles.As I wish to provide you with the best value, this eBook not only contains mypersonal experiences, but it also combines the extensive knowledge of seveninternet entrepreneurs. Their interviews will reveal the methods they‘re using,when they face a roadblock in business. You‘ll see how and why they started aninternet business and what they would change if they started right now.Some of these entrepreneurs make millions every year from their onlinebusinesses and they are providing their most useful tips on how to overcomeroadblocks in business.I started engaging in internet business, because my daily work as an employeenever satisfied me. Perhaps you have a similar reason. I bet you experiencedays when you wake up in the morning and just don‘t want to go to work.Can you imagine waking up with pain in your stomach every morning becauseof the aversion you have to your job? Do you know what it feels like cominghome after your job and complaining about your co-workers and youremployer?That was my daily routine for almost 5 years! I realized quickly, that I had tochange something in my life, but I was afraid of taking action. Abrogating youremployment isn‘t easy when you have no alternative income is it?I knew that didn’t want to work from 9-to-5 for the rest of my life. I wanted towork on something that would satisfy me and that would help others. I wantedto decide for myself on my working times and to have full control over my freetime. I was sick of the stomach aches every morning and the bad moods everyevening. Wouldn‘t you feel the same way?Do you know the feeling when you look at your bank account every month andyou ask yourself why you are still working for your employer?I compared myself to my fellow colleagues, who made much more money than Idid each year.The Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge5
  5. 5. Analyzing my options on what action I could take, I realized, that I was definitelyselling myself short. You might guess that my way out of this trouble would bean internet business. As I had a degree in business informatics, it was clear thatI wanted to earn my money online.The first thing I learned was that my degree was mostly useless to me.I had to learn new things, that my degree didn’t cover and so I started withclose to zero knowledge.Though I had some experience in web programming and website design, that’snot the knowledge that decides on success in internet business.There’s no reason for you to worry, if you have no experience with the technicalaspects. It’s even better to begin with no specific knowledge, because it helpsyou to focus on the important things. You can outsource programming andwebsite design to experts. That‘s the way everybody does it and I‘m doing it aswell.What’s important for your success is your strategy, the way you connect withyour audience and the help you provide for your audience. There’s no need tohave an MBA or any other degree. The universe doesn’t care about youreducational degrees (cite from The Millionaire Fastlane byMJ deMarco1).Life only cares about the actions you take to influence your future!The great thing concerning internet business, is that is doesn’t require muchtime, when it’s running. You can use it to generate some passive income whileworking your daily job - if you like to. So you have no risk to take and can buildup your internet business slowly and consistently. Once you’re earning enoughmoney to pay your bills, you can easily quit your job and start concentrating onyour passion.That’s exactly the way I’m going. I founded a web design company and after ayear of earning money, working hard and having little spare time, I’ve decided toswitch my business model to online business. Right now I‘m working part-timeto have secure income and I’m building up my internet business on the side. Ican’t wait to get to the point, when I can quit my job and can finally live the lifeof my dreams. You don‘t need to quit your job to build your online business. YouThe Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge61 You can buy this book here: http://amzn.to/12Uu93Z
  6. 6. can make the first steps while being employed and only resign once yourinternet business pays all of your bills.It was a long and painful way until I finally made the decision to escape my 9-to-5 job. I was really scared to take action and tell my boss, that I only wantedto work part time.On my way I learned, that those fears are human and it’s ok, to have them.I just had to prevent myself from getting paralyzed with fear!You‘ll see how I’ve conquered my fears and turned them into motivation. I’m notscared anymore but curious and happy.I don’t want you to go through the same fears and doubts as I did afterfounding my company back in April 2012. It took me over a year to develop allmy methods and strategies that helped me to keep going.Let this book inspire you to look at your situation in a different way. I bet you’lldiscover a lot of potential waiting to be unleashed. Although your potential maynot be obvious to you right now, almost everyone has a passion that pusheshim or her forward.I’m not telling you to just follow your dreams, because that‘s not the way itworks.Why should someone care about your dreams and pay you for dreaming?Rather than blindly following your dreams, you need to help others and toprovide value to them.This lesson took me several months to understand. Suddenly it hit me like ahammer.When I would be able to help others, I maybe could earn some money. I‘m sickof the people that promise you pie in the sky and sell crappy products. In thiseBook you‘ll find only information and methods that work. I‘m revealing all thebig mistakes that I made with my company and every wrong decision related tobusiness.You don’t need to make the same mistakes that I did!Wise men learn by other men‘s mistakes, fools by their own - H.G. BohnThe Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge7
  7. 7. Summary:1. Being successful means taking action even when you‘re scared.2. Others are proving the concept, so you can be successful as well.3. You need to overcome your personal doubts and just take action.4. Use my story as inspiration and an example for failing andstarting over.5. Read the interviews and practice the methods practicedby the millionaires.The Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge8
  8. 8. About MeLet me tell you more about me. I want to state, why I started with an internetbusiness and what values and principles I value most essential forentrepreneurs.Education is of course your foundation. This is where your values are definedand the base for every single decision you’ll make is set. Your parents becausethey nurtured you are probably your biggest influence. Family and friends alsoplay a very important role. I suppose you’ve heard sometimes, that yourenvironment forms you and this is totally correct!I learned to always work hard, whether at school or later in my integrateddegree program. The fact that I was always attentive in class, conscientiousregarding my lessons and keen to learn a lot, led to me being one of the bestpupils in my class. I‘m not that brilliant, that everything fell into place for me. Iwas ambitious to be one of the best and so I worked hard for it.As a pupil I wanted to work in a normal 9-to-5 job and wasted no thoughtregarding online business. Getting a good salary and ensuring my future in thisway seemed to be the only way to go. There was no thought about everbecoming self-employed.After I finished my A-levels I began an integrated degree program for BusinessInformatics. This seemed to be a good way to ensure getting a job in the future.Though I knew that the salaries are really low in East Frisia, I found employmentin an IT company in Norden. This was the first time I had some doubts whether I reallycould reach my goal of earning lots of money being employed.I hoped that my company would pay me well if I finished my integrated degreeprogram with good results. So the hard work for my education continued.The integrated degree program included an apprenticeship to become aninformation technology officer and a degree course for Business Informatics atthe same time. As you can imagine, I had almost no spare time for three years.Hoping that this hard work would pay out, I was motivated to become one ofthe best students in my class. Concentrating on my studies, I had a final degreewith an average of 1.9, which made me actually the third best student takingthe course.The Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge9
  9. 9. Unfortunately I learned the most important lesson right after finishing theintegrated degree program. The average salary for this degree throughoutGermany has been between 36,000 € and 42,000 € per year. This seemed a lotof money to me and I was sure, that I could earn close to this in the companythat employed me. Since I was one of the best students, I reasoned that theywould pay me a fair salary.Damn, I was young and naive. I got 24,000 € per year, in gross. Can youimagine how I felt after being told what I would earn? I was shocked and I wasangry, that my boss obviously didn‘t recognize how hard I worked for mydegree or that he simply didn‘t care.My principles collapsed. Why did my hard work not lead to a fair salary? Whydid my fellow students get 36,000 € per year when I got only24,000 €?This was when I made my commitment to become my own boss.You can tell that I won‘t ever let this happen again. My ambition to learn andwork even harder increased. Giving up my goal of earning a large salary andliving a comfortable lifestyle was never an option. This was when I understood,that employment could only be the wrong option for me. Please excuse the longrun back into my nurture, but I wanted you to understand, why long-termemployment did not work for me.Summary:1. You‘ll have to work hard for your success. There will be devastatingmoments that you‘ll have to overcome.2. Education starts right after graduating.3. In employment you totally depend on your boss.That‘s not for me.The Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge10
  10. 10. Entrepreneurial Principles andValuesEducationEducation is probably the most important aspect in an entrepreneur’s life. Itstarts after graduating and it never stops. I‘m most likely a good example forthis statement. Right after finishing my integrated degree program, I made thedecision to work independently. I had to start learning and informing myselfabout business formation, raising capital, developing products, targetingmarkets, the newest webdesign trends and technologies and so on and soforth.After my first company didn‘t work out as expected, I did a 180. Dismissingnearly all the services and products I offered previously, my company started toget involved in internet business. I had to start with zero knowledge again and Iacquired the essential skills for internet business from scratch. Some of thetopics I covered were marketing strategies, developing information products,branding, SEO, social media strategies, and also how to plan and write aneBook.You see, I‘ve started from scratch three times in my life! The first time was withmy integrated degree program for Business Informatics. Though I was one ofthe best, I decided to work on something different, where I couldn‘t takeadvantage of my knowledge. After I recognized that my enterprise was not inalignment with my vision, I began engaging in internet business.Starting from scratch was one of the best decisions I made in my entire life,since it frees your mind from prejudices.Internet business is in a steady state of change. There are many different actorsin this market like search engine providers, SEO agencies, countless bloggersand of course your target audience. You need to keep up with those and beone step ahead in your specific niche. This last point is essential! Don‘t beworried about learning all this information. You just need to focus on your niche.There are no technical issues, since the software you‘re using for internetbusiness is especially made for beginners. You won‘t need to program or to doyour own graphic design. What you need to do is to publish content online andfor that you can get help everywhere and most of the time it’s for free.The Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge11
  11. 11. Webhosts provide you with a ready to use homepage, allowing you to startdirectly with your content publishing2.It‘s most important to gain knowledge in your niche. Ideally you already startwith knowledge that makes you an expert compared to other people. Don‘tfreak out to call yourself an expert. This doesn‘t mean that you know more thananybody else. Simply put you are one single step ahead of the masses!Summary:1. Education starts after graduation.2. Constantly educating yourself is fundamental in internet business.3. Starting from scratch is the chance to gain an uninfluenced view ona situation.4. Being an experts means knowing only one thing more than most others.The Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge122 A good webhost is Bluehost.
  12. 12. AmbitionAmbition means the ability to focus on a new goal when you‘ve reached theactual one. It also means, that you never surrender until you‘ve reached a goal!Regardless what problem stands in front of you, your ambition drives youforward.Entrepreneurs like you and me are simply not satisfied with the status quo. Wewant to live a different lifestyle than what mainstream dictates. I have beenambitious in my past, I am ambitious in my present and I will be there in thefuture. As you‘ve read, I was always one of the best pupils in school, simplybecause I am ambitious.This kept going on in my integrated degree exam and also in my favorite hobbytable tennis I wanted to win as much and as high as possible.Ambition means staying hungry. Like Steve Jobs wanted - and achieved - tomake a dent in the universe, entrepreneurs keep always improving themselves.It‘s totally natural to fail. In fact I‘ve failed many times with my first company andI it‘s only a matter of time until I fail again. The difference between entrepreneursand non-entrepreneurs is, that they are willing to retry and do it better!You have the ambition to reach your goals otherwise you wouldn‘t need to setthem, would you? You can‘t complain about the challenge you have to conquer,you need to conquer it. Thinking that life is bad and you won‘t make it iscounterproductive and you need to get rid of those thoughts.My motto for living is: Reach for the stars. Even if you miss them, you fall on top ofthe world.It may sound weird or maybe even arrogant to you, but think about the realmeaning of this saying. When you set your goals so high, that you reach for thestars, you‘ll have to take massive action to finally reach the stars. Massive actioninevitably leads to success. Maybe not in the first try, nor in the second perhapsonly by the hundredth. You keep getting better and better with every try.MJ de Marco said in The Millionaire Fastlane: The sweat of success is failure and I amsoaking wet.Your passion makes you ambitious, so you will take action. It‘s the physicalaction that will bring you the next step towards your goals. If you only dream ofyour passion, you‘ll never accomplish your goals.The Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge13
  13. 13. You need to work hard and take one step at a time. Don‘t dream of makingthousands of dollars every week. Focus on making the first dollar and thenincrease your earnings step by step.You won‘t ever reach your goals in one single step, but with a lot of small ones.Concentrate only on the next most important thing that makes your vision comeclearer. And then do it!Ambition is what keeps me trying again and again. Having my company besidesmy employment, I was working at least 55 to 65 hours every week, for morethan a year. It was definitely not healthy and I won‘t let that happen ever again inmy life. My ambition got me through this.Looking back at this time I can say, that I‘m proud of myself. I‘m proud that I didnot give up.I didn‘t surrender even though the world was crushing down on me and that isexactly the feeling you will have when you‘ve made your way.Being ambitious has more benefits than just driving you into action as it makesyou confident. When was the last time, you were in doubt about an importantdecision? Ask yourself, if that decision you made would lead you towards yourgoals.When you are passionate and ambitious, you will align your decisions with yourgoals.Don‘t say Yes when you mean Hell no!. Trust in your ambition and passion.Ambitions also allows you to take cutbacks to reach your goals. Take mypersonal example. I‘m writing this book on an 3,000 € MacBook Pro and a newiPad. I invested in this tech stuff, because it improves my productivity for myinternet business. I didn‘t invest in a new car. I‘m still driving my first car, a 12-year-old Volkswagen Golf 4 with only 75hp as putting my money into a new car,would have limited my business.My money helps me the most when I spend it to grow my business. I don‘t careat all what other people think about my car. Let them win in little races fromtraffic intersections, I‘m the one who wins in life! I‘m spending my money foruseful opportunities, not for short-term goals.The ambition I have is to retire at 35, that‘s eleven years from now. Then I‘ll wantto have enough passive income or savings, that I am able to stop working. IThe Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge14
  14. 14. definitely won‘t do that, because working my internet business is my passion.However retirement is a good goal to bear in mind, when I‘m actually working. Ialign every decision that I make with this huge goal. Of course I will make wrongdecisions, but I just try to do it better the next time.Aligning your decisions with your ambitions is a really tough process. Start withthe smaller ones and not directly with the really important decisions. Get used tosaying No, thank you!It is ok to decline offers, because that divides the successful from the average.You don‘t want to be average, so you can‘t act like the mainstream.Follow your ambitions and let them push you into action. If you make a smallstep every day, you‘ll accomplish your goals. You just need to consequentlyfocus on the next thing you can physically do, to come closer to your goals andto satisfy your ambition.That is what makes us entrepreneurs special. We fight for our goals and wereach them!Summary:1. Entrepreneurs never give up when working towards their goals.2. Taking action lets you achieve your goals - dreaming andcomplaining does not.3. Have the courage to say No, when a decision isn’t aligned with yourvision.4. Be willing to take some cutbacks, if they bring you closer to your goals.The Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge15
  15. 15. CreativityEntrepreneurs are usually creative people. Of course not everyone is a geniusactor, musician or artist. We are however all creative in seeing opportunities inour daily routine. Are you as frustrated from following the same boringprocedures over and over again as I am? Do you also want to take control overyour daily life? Entrepreneurs start to search for their own ways to do things.Regardless of what to renew, entrepreneurs love to change and improveproducts, processes, designs or everything else that possibly can be improved.Being creative means to express yourself with what you‘re able to do. That‘sreally a squishy statement so let me explain what I mean. Personally expressingmyself means to be myself with every action I take. It starts with such mundanethings like a haircut, styling or the car I‘m driving. I actually tuned my VW Golfwith new headlights to make it stand out the masses at least a little bit. It was ahorror to see other Golfs with the same headlights after I installed mine, but ofcourse the best way to make yourself unique is through your behavior.• Which people do you remember best?• People that behave like everyone else and try to maintain a low profile?• Or the ones with rough edges?• The ones that act differently than all the others?I try to surprise one person everyday with my behavior. Sometimes I bringvariations in the daily routines, sometimes I interact with a person in anextraordinary way.I just try to vary their and my daily routines to bring some creativity in our lives.Creativity grows out of focus. Nearly everyone tells entrepreneurs, that they willget creative when the pressure is increasing but that doesn‘t work for me.Maybe I‘m not the standard entrepreneur and that‘s the reason why I‘m notmore creative under pressure. When I must be creative NOW, I definitely am not.Most likely you wouldn‘t be creative either. It‘s simply wrong, that pressureincreases creativity.What‘s true is, that focus increases creativity. When you are totally in the flow ofworking, the creativity is just coming right to you. Do you need a special idea?Then turn off any possible distractions, get into a comfortable mood and startworking on one thing at a time.The Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge16
  16. 16. Brainstorming is a great example for this process. It‘s all about getting into theflow of generating ideas. You write down what comes into your mind and youdon‘t ignore a single thought, regardless of its relevancy. Usually that processwill lead you to the best ideas that you may ever have. Because your brain isgetting used to generating ideas and thinking the right way, you get focusedonto your specific topic.When you are in this mode, your creativity explodes. Right now I‘m not evenrecognizing what‘s happening around me. I wrote the last pages in one pieceand I didn‘t edit a single word. I‘m just in the flow of writing and I‘m writingdown whatever comes into my head. I know that this is another good examplefor getting creative through working. Every writer will agree with me, when I say,that distraction free writing is one of the most amazing experiences one canhave if you are interested and passionate about writing.You can trust in your creativity. When you take the first or the next action, youneed to focus on the next important step. Don‘t try to maintain all the thoughtsand possibilities in your head, just do the ONE most important thing.This focus will lead to high quality results. People get more creative, when theydo one task at a time. Perhaps some of you will disagree. Getting multiplethings done at a time only seems to be faster.Imagine you need to make cards for your wedding. You need to follow severalsteps to make each card. First you write the text and the names of the receiveron the card.Next you need to stamp the envelope and write the address of the receiver onthe envelope. The last step is to put the card into an envelope and seal it.You can do this process for each card or you can do each step for all cardsbefore going on with the next one. The latter methods seems to be the fastermethod, but it isn‘t. Imagine you put texts on all cards stamped all theenvelopes and wrote the addresses on each, but then you recognize that thecards don‘t fit into the envelope. Another time consuming step would be havinga pile of written cards and sorting them to the correct envelope. Matching theright envelope to the card you have in your hand can be time consuming. Thistime is not lost when you process one card at a time. That‘s why processingone card at a time will be more efficient3.The Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge173 The original version of this example: http://www.smartpassiveincome.com/most-powerful-productivity-tip/
  17. 17. There was a professor who wrote on seven boards at once. When he stood atthe first board, ideas for the text on the third board came into his mind, hewould run to the third board and write those ideas down. This professor was inthe flow of working. He turned off every possible distraction and concentratedcompletely. His creativity was that mind blowing, that he had to use sevenboards to keep up with it.That is totally ok. Who tells you, how you need to work? Nobody but yourself.Damn, you‘re an entrepreneur, so you can decide for yourself how to work andhow you focus best.You can enlarge your creativity by getting in creative places. Maybe working in acafe like Starbucks is a good opportunity for you. There are shared workspaceswhere you can meet new people and chat with them. Working at the beach withthe sun in your eyes may not be good for your creativity. It‘s up to you!Modern technology enables you to work almost anywhere..Even a power supply is beneficial but not necessary. If you don‘t have one, justuse an old-school pen and notebook. While doing website wireframes for mycompany I was sketching them out on paper. It‘s crazy how paper sets yourmind free.Have you ever worked at a flipchart? Then you‘ll most likely know what I mean.Creativity brings entrepreneurs like us to new solutions. We have a sense forexisting problems in our community and we want to solve them. Using creativitywe can work in new ways.Remember Henry Ford’s saying: If I had asked people what they wanted, they wouldhave said faster horses.You have to show the people what they want!Summary:1. Everybody is creative if their own passion is involved.2. Creativity grows under focus and not under pressure.3. Don‘t disturb the flow of working to leverage creativity.4. Never be satisfied with the status quo.The Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge18
  18. 18. Communication SkillsEntrepreneurs need to communicate a great deal. Whether it‘s through yourwebsite, in Google Hangouts, on Skype, in chats or in face-to-face meetings.You can‘t be afraid of contacting other people, when you want to become anentrepreneur - unless you found a way to communicate and collaborate withoutcontacting others directly.So what communication skills do you need to successfully interact with others?At first you need to transport your vision. If you can‘t make your vision, goalsand plans clear to the person you‘re talking to, you won‘t succeed. It doesn’tmatter how you present your plans, the main point is that your audience getstheir desired content.You need to ensure that you choose the right form of communication. Don‘t tryto discuss complex situations via text message or mail rather call the person.On the other hand, you don‘t need to call someone for every little step that youmake.Sending a short message is enough to notify someone about smallerachievements or to confirm appointments.Make use of clear arguments to point out your opinion. I find nothing to be moreannoying than persons who beat around the bush. Usually entrepreneurs havelimited time to convince their target. You need to persuade your audience withfew words regardless whether you‘re asking for an interview, pitching forventure capital or managing a software development process.The above was the process that I followed when I asked my well knowninterview partners for their feedback. When I came up with the idea ofinterviewing famous people for this eBook, I was really scared at first.I was plagued with the following doubts:• Why should these people talk to me?• Would they even read my message?• What could I deliver to them, that they would take the time and do theinterview with me?I thought that the interviews would never work out. What made me ask for theinterviews was the will to provide massive value with this eBook. Without thoseinterviews I wouldn‘t have been able to show you how the successful onlinebusiness people overcame their struggles. Also I wanted to show thatThe Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge19
  19. 19. collaborating with the big people in internet business isn‘t as hard as you mightthink.The first one was Josh Taylor, a social entrepreneur from the UK. I read abouthim in a German magazine and was really impressed by his courage. I knewthat he could contribute a lot of valuable input to this book. I also knew that hisSubmersible Project4 was coming close to being finished, so he probably had alot to deal with. All it needed to get a Skype meeting with him was to drop him aline through the contact form on his website.This was exactly what I wrote:Hi Josh,I just read about your challenge from Sir Richard Branson in the German magazine“Business Punk” and I really like your engagement and creativity. Im writing an eBookabout conquering the fears before escaping 9-to-5 and start your own business tofulfill your purpose. I wonder, if I can help you in any kind of way or if you would do aninterview with me about your motivation. I think youre a great idol for peoplestruggeling with their fears. And it would be my first interview, so I can learn somethingI really want. It would be great, if you answer me. To get to know more about me, visithttp://mygreatonlinebusiness.com/about-meor follow me on Twitter: @mygob.Best regards, JanI didn‘t expect him to answer at all, but after a few days, I got this messagefrom him:Dear Jan,[....]I would love to do an interview with you for your book! How would you like to chat?Phone, Skype? You choose whats easiest and when and we can go from there.I should be around next week at most times. :)Im on Twitter here too: @JoshingTalkMany thanks,JoshThe first contact was made and Josh was happy to help me with my eBook. Iwas felt as if I had achieved something really big. I conquered my fear of gettingin touch with a relatively famous person, who has been interviewed in myfavourite magazine. How great was that? All it needed to get the interview withThe Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge204 The Challenge - http://www.joshingtalk.com/category/challenge-me-sir-richard-branson
  20. 20. Josh was to drop him a line on his homepage. What prevents you from doingthe same? If you want to speak to a mentor or ask a famous person for aninterview, just do it!Even greater was my experience of getting in touch with Spencer Haws. He‘smaking his living online and I‘ve been following his blog for a long time (though Inever took action in niche sites). I had a similar experience to when I madeinitial contact with Josh. I dropped him a few lines, where I introduced myself,told him about my passions and asked for an interview. Though we made theinterview via mail and not on Skype, I got all the answers as detailed as I hopedfor.What have I learned from this?1. Online entrepreneurs LIKE to collaborate! They are not afraid ofcompetition, because they understand that usually collaborating is a win-win situation for both sides.2. You need to make clear that you‘re passionate about what you‘re doingotherwise the addressed person won‘t take you seriously.3. Always introduce yourself and show opportunities, where the recipientcan learn more about you.4. Be kind, polite and encouraged. Acting arrogant or not putting it straightwill bring your message right into the trash bin.Summary:1. Every entrepreneur needs to be a good communicator.2. Always be kind and polite, thus passionate about your goals.3. Don‘t be afraid to contact the big names.4. Brevity is the soul of wit.The Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge21
  21. 21. IntegrityPersonal integrity is the foundation for getting venture capital from businessangels. You won‘t get a cent if you‘re not committed and honest about whatyou‘re doing. Make sure you never publish a fake business plan and you nevermiss meeting your deadlines and appointments.Entrepreneurs need to be credible otherwise they won‘t make any money. If youpublish information about yourself, it must be correct. If you claim that you‘vedone something, you better have done it for real. Your audience wants to know,if you‘re telling the truth. Would you buy from someone, whose expertise youcan‘t verify? Of course not.So let me verify my statements so far:• I‘ve co-founded my company Denksport IT in April 2012. The CommercialRegister Number is 202252, Commercial Register Aurich.This is just basic information. By far more important is credible information inbusiness plans, revenue estimations and similar documents. There are somekey facts that every business angels want to know. I won‘t explain them all, buthere are some examples:• How many visitors do you have on your site and what is theirconversion rate?• How do you want to increase the overall visitors and their conversion?• What is the cost for one new customer?• How much revenue will you make in one year?There are plenty of books out there, where you can get more detailedinformation to venture capital and funding. One of the best books I canrecommend is Venture Deals: Be Smarter ThanYour Lawyer and Venture Capitalist5.When you don‘t plan to raise any venture capital, you need to be trustworthyand credible. Take my blog as an example. I don‘t claim that I know everythingabout internet business, simply because it‘s true.If I did this, my visitors wouldn‘t believe what I‘m writing in my blog posts. Iwould just rewrite what someone else has written before rather than voicing myThe Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge225 Find it here: http://amzn.to/ZmRmwa
  22. 22. own opinion. This doesn‘t align with my goal to help other entrepreneurs.Everything I write about is related to an experience I‘ve had myself.Summary:1. Don‘t lie. Just don‘t do it.2. Verify your most important statements.3. Use your integrity to gain trust.The Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge23
  23. 23. EfficiencyEntrepreneurs need to work efficiently. We can‘t afford to work inefficiently,because we have so many things to do for our business. Most of us don‘t evenknow how and where to start.One of the biggest mistakes that entrepreneurs can make is to try to doeverything on their own. It is just impossible to write perfect blog posts, developthe webdesign, and to create, develop, and design your next product all alone.There are experts in the world for nearly everything. Outsourcing jobs to themwill leverage your business and give you more free time. They don‘t cost much.I‘m working closely with a development company in Pakistan6, you‘ll read theinterview of the co-founder Arslan Khan later in this book. Arslan‘s companydeveloped some WordPress extensions for me, when I was working as awebdesigner. Right now his team is responsible for designing this eBook. In thefuture I‘ll definitely continue working with him, since Arslan and his team deliverhigh quality products. For example when you plan to develop your own app,you should consider taking a look into The App Shortcut7.You can find great freelancers on platforms like oDesk.com or elance.com.That‘s where I contacted Arslan initially. Interviewing people and checking theirprevious work is a necessary step to decide which freelancer fits your needsbest. Maybe you have a community to ask whether they can recommendpeople they‘ve worked with previously. Choosing the right contractor can bedifficult, since you usually get 50+ applications for one job.Remember that the contractors are highly dependent on getting the next job, soyou need to be highly skeptical. The more the contractor tells about himself andhis previous jobs, the better it is for you. Contact their former employers andask what the quality of the work was like and what their communication was likeduring the project.You‘ll want to find a contractor who is as passionate about his or her job as youare regarding yours.Besides outsourcing you need to work without any distractions. If you are in ahome office like me, make sure everyone understands that you shouldn‘t beThe Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge246 He co-founded i-Intellect Inc. - http://iintellect.co.uk7 http://theappshortcut.com/main/
  24. 24. disturbed while you‘re working. It‘s just like any other job, you need to befocused on your work.Working from home is even more challenging than being in an office. There aremany more distractions such as family, friends, the TV, and anything else in yourhome.When I wrote my exam, I tended to clean up my room instead of having towork. I used the available excuses to procrastinate.You need to overcome this. Arrange your home office in the way you wouldarrange your office at work. Tell everyone that you don‘t want to be disturbedwhile you‘re in working mode. It took a long time, but my family understandsthis now and hey do not even tell me when the lunch is served.When I‘m working I‘m only working. I don‘t want to eat, to talk with them or totake a break. I just dive into my work and forget everything around me.Do you know the feeling when everything just falls into place when you areworking? That‘s exactly the time when you‘re most productive. You only get intothis mode when you‘re able to cut off every single distraction and free your headfrom unnecessary thoughts. Writers don‘t edit while they‘re writing. It wouldbreak the flow. Characters just appear on the screen when writers are in thismost productive mode. You feel like you are a genius. You work and you canliterally see your product growing and growing. This feeling is why I became anentrepreneur.Managing necessary documents and tasks is a huge problem for someentrepreneurs. I suggest taking a notebook with you whenever possible.Regardless whether you are using a pen and paper or a smartphone app, youwant to clear your head of thoughts of your next tasks. If you keep them in yourhead they will distract you from what you‘re doing right now. Remember thedeadline for the next blog post? You can‘t afford to forget the sending off yournext newsletter? Will you be able to publish your product in time? You can onlyget rid of these thoughts if you write them down and organize them.You could use the Getting things done8 principle. Let me show you, how I‘mboosting my efficiency with this organizing method:The Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge258 Getting Things Done. The Art of Stressfree Productivity http://amzn.to/11fG8XS
  25. 25. Every new action I need to make comes onto a list. From this list I organize myactions in contexts where I can do them and to which product or person theybelong. Since I‘m a tech geek, I have my iPhone or iPad with me all the time.The seamless synchronization between my devices allows me to take noteseverywhere and not to lose track of them. Once a week I check what I achievedand plan the next week. I think that it doesn‘t make sense to plan more thanweek ahead, because things change so quickly. Thanks to the internet, I‘minteracting with people all over the world.These conversations drive my business forward at a speed that I would neverhave imagined. I try to take one step more every day than what I thought I coulddo. So I need to write all the ideas, tasks and problems down to focus on themove I‘m making next. The same goes for my documents. I‘m scanning theminto a document management system on my Mac. This again syncs to mymobile devices so I have access to my documents every time I want.I love this efficient way of working. It allows me to create valuable products likethis eBook in a relatively short amount of time. Of course you don‘t need toadapt this methodology exactly. You can adjust it for your needs or usesomething completely different. The main point is that you work in an efficientmanner and focus on one thing at a time.Summary:• Outsource whenever it‘s possible.• Focus only at one thing at a time.• Write down, organize and prioritize your tasks in to-do lists.• Complete this to-do lists.• Organize your documents, so you can have access to all the informationyou need.The Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge26
  26. 26. Thinking About TimeThis content is originally created by the Internet Business Mastery Academy. Iwant to thank Jeremy Frandsen and Jason van Ordon for allowing me to use hiscontent as foundation for this chapter.A very important aspect of your mindset is your valuation of time. Time is a veryimportant resource, since it‘s the only resource you can‘t buy! There is no wayto extend the time you have on earth, so you should appreciate every singlemoment.You need to assign value to your time. When you value each hour of your timeat $100, it helps you to make decisions on how you spend your time. You willstart using your time for growing your business and spending time doingactivities you like instead of doing tasks you would love to delegate.I assigned the amount of $100 to an hour of my time. Though I‘m not earningthis amount right now, this is my goal. So I make my decisions to reach thatgoal and to do something that hopefully earns me $100. I don‘t maw my lawn,wash my car or repaint my walls. Paying someone else to do those things forme allows me to focus on my passions and my business. Of course I need topay someone to do things for me. But most likely those wages are below my$100 per hour. I start doing things on my own if I would pay more than $100 perhour unit. When I reach this border I‘m delegating tasks.Every minute when you‘re doing something that takes you a step towards yourgoal, is valuable. It‘s one hour, where you can have a genius idea that achievesyour vision of earning a passive income. What if you had been washing your carinstead of having this idea?Instead of renovating your apartment, you could spent time with your family. Youcould do things you enjoy and that make you happy. Remember, that you onlylive once and you can‘t do anything to extend your time on earth. Wouldn‘t youwant to spend every moment with something you like?When you set an amount of money as you’re per hour value, you start puttingthings into action. Maybe you need to charge more for your services. Maybeyou need to delegate or outsource recurring duties. Maybe you start spendingmore time with your family and hobbies instead of working.The main point is that you can‘t do everything on your own. If you want to besuccessful, you must delegate specific jobs to experts. Experts in the field areThe Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge27
  27. 27. more efficient and can deliver a higher quality than you would as you are anovice.Summary:1. Charge a high hourly amount as your hourly value. You can‘t do every jobon your own, so delegate and outsource.2. Spend as much time as possible doing the things that you love.3. Don‘t let your business determine how you spend your time.The Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge28
  28. 28. Thinking About MoneyThis is also based on content from the Internet Business Mastery Academy9.Thanks again, Jeremy and Jason!What does money mean to you? I see money as a tool to reach freedom.One of my goals is to make more money than I earned in my 9-to-5 job. I wantto earn this money, because it makes me free. My dream is to live a lifestylewithout worrying about what I need to buy. Travelling the world and visiting myfriends would be awesome. And what do I need for this? It‘s the money thatbuys me the food, pays my bills and allows me to fly to the US and forget aboutmy work for some days or maybe even weeks.My perfect lifestyle does not include being a millionaire. It includes not having toworry about money. I don‘t want to own three houses and 10 cars. A beautifulapartment and two cars for me and my girlfriend is totally sufficient. What I needis freedom which does not mean I have to have 20 million euros in my bankaccount.You need to understand what money really means to you. Do you want to berich because of being rich or because of being free?Another interesting attitude to money is giving a part of the money you earnback to poor people or charity organizations. It‘s like doing something for yourkarma. I believe that if you give some money out in the world, it will come backto you in the long term. For example every year I donate a specific amount ofmoney to Wikipedia, because I‘m convinced that Wikipedia is doing a great jobin sharing knowledge. Also my company is sponsoring the table tennis club I‘mactive in. Sports clubs are usually poor and my club fighting for every possiblesponsor. Since I‘m a member for over 17 years I know how important thecontribution is for the local children and adolescents.Internet business is not about making money! Be sure that you get rid of thethinking Time is money! Time is nothing but freedom, because it allows you todo things you love. When you believe, that time is money you‘ll start to workmore and more. This causes you to spend the time working instead of havingfun with your family, going on a nice vacation, or following your hobbies. You‘llwant to make more money in less time, so you increase your free time. Themantra of trading hours for money, isn‘t working anymore in internet business,The Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge299 This academy enabled me to quit my job and start my internet business.
  29. 29. because on the internet you sell products and information on your website. Thisis going to be a fully automated process that works 24 hours per day, 7 days aweek, 365 days per year. You don‘t need to work actively to earn money sinceyour website is your selling machine. In the internet you can make money whileyou‘re sleeping or on vacation with your family. The thing you have to do is tocreate the value that you‘re going to sell. This is a onetime process, that onlyget‘s refined. It‘s not like you‘re trading your hours at the office for yourpaycheck.The last mindset that you need to be aware of is the Survival Mode. Stop visitingthree stores to save a small amount of money when buying a product. Andunderstand that it simply doesn‘t make sense to drive to a far off gas station tosave $0.03. You‘re going to buy it anyway, so don‘t waste a thought about theprice. Driving to that gas station or store will most likely cost you more moneyand time than you‘re saving. Think about the amount of money that youassociated for every hour of your lifetime. Is it worth waiting 30 minutes in aqueue for saving $10 for the product you want to buy?The answer only can be YES, if you‘re hourly value is $20. If you priced your hourhigher, waiting would be the wrong decision, and only waste of your lifetime.These habits are easy to say and hard to learn. You need integrate them intoyour daily routine with some small exercises. Try to keep those thoughts in mindevery time you make the next decision whether you buy something or not.Summary:1. Understand that money is only a tool for gaining freedom.2. Stop thinking that time is correlated to earning money.3. Giving means caring. Consider donating a part of your income.The Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge30
  30. 30. Starting My First BusinessStart a Business and LiveYour Dream?You may think, that building a business is just the right way to start living yourdesired lifestyle. You are your own boss, no one tells you what to do and youcan do what you like to earn money. Unfortunately it‘s not that easy.I made the decision to be self-employed right after finishing my integrateddegree exam. But I had absolutely no idea, how to found a company, how toapproach customers, or how to decide on the best business model. So Istarted learning more about self employment. The imagination of a luxurious lifewith a lot of money woke up a passion in me.CreateYourVisionI made a clear image for myself, how I wanted my life to be. Knowing exactlyhow you want to live is the best motivation you can ever get! This will wake apassion in you and it will motivate you.Think about your imagined perfect lifestyle.• Where will you live?• What people will surround you?• How will you earn money and how much will you have to work?• What will you do to earn money?• How will you spend your money?When you make this clear for yourself, you won’t be able to think of anythingelse. This vision is, what will lead you through all the struggles. In combinationwith the methods Ill show to you later that you will be able to conquer any fearor doubt. Its likely that you wont be able to stop working for your goals.Let me show you the process that I went through for defining my vision. This willgive you an idea, what questions to answer to create your very personal desiredlifestyle. And you will get to me a little better.For me the decision is clear. I want to stay in East Frisia in Germany, because Ireally like the nature and I have my girlfriend and my family here, but I also wantto travel the world. My business must enable me to travel wherever I want. Myfriends arent only located in Germany, some of them are living in the US. OfThe Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge31
  31. 31. course I want to be able to visit them whenever I like. Additionally I’m building anetwork of great people all over the world right now. They are living in Germany,the United Kingdom, the USA and Pakistan and who knows who else I will getto know through internet business? To answer the location question for myperfect lifestyle: I want to live in East Frisia but I want to travel around the worldwhenever I like and as long as I like. That doesnt mean, thatI want to travel the US for two months without maintaining my business (itdoesnt work for me). That lifestyle would mean that I can take care of mybusiness from nearly everywhere. My business is going to be locationindependent, as long as I have internet access and power supply. How doesthat sound to you? Wouldn‘t it be a great lifestyle?When I decided to stay in East Frisia I also decided, that I want a big house orapartment as my home. Right now I’m going to move out of my parents house(you see, you can start an online business from anywhere!) and to move in a105 m2 apartment with my girlfriend. Though I know that this will probably betoo large for us, I’m doing it, because it follows my purpose.I know that a large apartment will leave me enough room for my home office,also in a large apartment I will be able to create inspiring places for relaxationand inspiration.Right now I’m driving a 12 year old Volkswagen Golf, because I want to put allmy money into my business. The car is reliable and cheap to maintain.You may call it focusing my efforts on my business instead of buying a new car. Isimply dont need it as much as I want my internet business to grow. Mypassion is my business and I know that my internet business will lead me tomake my vision reality. In that vision of course a newer and better car exists. SoI trust in my business and wait for that new Audi A5, Mercedes E Class or myabsolute dream car - the Nissan Skyline GTR (yes, Im a victim of dreaming ofmyself driving a car like in the The Fast and The Furious).You‘ll want to envision your desired lifestyle as detailed as possible. It‘s thedetails that will make it come to life and that will drive you forward.But how will you finance your lifestyle? Do you want to work all day like in anormal daily job? I personally dont. Obviously everyone wants to spend timewith family, friends and hobbies. So do I. That’s why I’m building my internetbusiness to generate a passive income. This passive income will pay all my billsand help me to afford my desired lifestyle.The Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge32
  32. 32. Of course internet business is my passion and I WANT to spend time improvingit and to help other entrepreneurs starting with their businesses. I also want tobe in control of my time. I decide, when I’m taking time out and I want myinternet business to generate passive income even when I’m not working. Canyou imagine how great it would be to earn money while you‘re on vacation?Now you have seen my full vision. You know how I‘m going to build up myinternet business and what my purpose is.A great thing about generating online income is building up a relationship withyour followers. If you like, you can connect with people all over the world.When you achieve their trust, you can really have an impact in their lives. If youdevelop the products they desire, you have the full control over your income inonline business. Its even safer than your daily job income. When you are able torelease new products that help your customers, you’re doing a swap. Yourcustomers are able to resolve a problem with your products. If they want tosolve their problems, they can buy your products.Summary:• Visualize your goals and your desired lifestyle.• Pay attention to the details of your vision.• Let your vision motivate you and spur you into action.• Make sure that your products help your customers.The Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge33
  33. 33. That‘s it, you‘ve reached the end of the free preview.Did you like what you read so far?Purchase the full version without any limitations.The Entrepreneurial Lifestyle - Proven Ways For Mastering Every Challenge34

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