IT’S EASY TO feel overwhelmed by all the new information and new opportunities you could pursue. To consolidate all the information this book has given you so far, it’s time for an action plan to help you move forward. Here are 10 steps that you can take to start building your Millionaire lifestyle business today.
STEP 1: REALLOCATE YOUR TIME
Look at your daily schedule and determine how much time you can commit to investing in a new venture. Take whatever you can get, but try to commit a consistent number of hours each week toward the many small steps you’ll need to get going. Force yourself to turn off the TV and do something constructive repeatedly. The sooner you start building your new pursuit into your lifestyle the better. Even one hour a week can add up over time, and one hour a day is even better.
STEP 2: REDESIGN YOUR SCHEDULE
Think hard about where you can find more time to invest in pursuit of your new lifestyle. For example, save some vacation days for research and planning, ask your boss for a schedule change that allows you to work from home or avoid the worst commuting hours. Maybe even change some of your responsibilities to project-based (results) instead of hours-based (face time) to free up time that you can invest in your new business.
STEP 3: START A BUDGET
Divert whatever money you can afford into a new savings account. (I like free online ones like those available from.) Set up an automatic weekly or monthly transfer of whatever you can afford into this account to start building a nest egg. Set this money aside specifically for new business research, training, and development expenses. Even if you don’t know what you’re going to do or when, start saving now so you have capital to implement or even quit your job later. Even $10 a week can add up over time.
Note: You can do these first three steps without even knowing what your new lifestyle business is going to be! Start reorganizing your life around what you want it to become and your lifestyle will start to change to reflect your lifestyle goals.
STEP 4: ANALYZE YOUR LIFESTYLE GOALS
Work through the exercises there to help identify what is most important to you. Don’t skimp on this part—if you don’t know where you want to go it’s hard to get there! Extra time spent on strategic thinking is a good investment.
STEP 5: GENERATE BUSINESS IDEAS
By now I hope you have put to good use the many earlier exercises to generate ideas for starting a new online lifestyle business of your own. If not, then now is the time to revisit the steps of the Millionaires Method for Business Niche Identification, and get busy filling the pages of your Millionaires Idea Journal. Combining the several filters of what you like, what you can deliver cost-effectively, how to market it competitively, and the Millionaires Lifestyle Business Design Success Principles will help you narrow down even the wildest ideas to practical businesses. So go ahead—dream big and have fun thinking up clever ways to reinvent your life.
STEP 6: DO SOME RESEARCH
Educating yourself about the field you have chosen and your competition is a good investment of time, too.
– Read books. Read three to five books. Half of these books should be about your chosen topic areas and target markets to help you become an expert. The other half of them should be about “how to do it” online by building websites, Internet marketing, and product development and differentiation. Then stop reading! That’s enough. Money comes from doing, not reading.
– Go online. Set up free Google Alerts to automatically email you the latest blog posts and web page updates on the topics that you’re exploring. Look for holes in the market and ways that you can serve the needs of people you would enjoy working with.
– Study your competitors. Subscribe to the noozles or blogs, buy the products of, or join the communities of three competitors to learn what they’re doing and identify ways that you could improve on it.
Note: Avoid “Analysis Paralysis”: Don’t overdo the research! Research is often used as a crutch to avoid the fear of failure. Set a time line that allows you to learn enough to be dangerous and then a deadline for moving forward.