Making money from a business is easy once you have mastered the process. Entrepreneurship and investing in a company is a journey where an individual experiences success as well as failure. Any individual can become a Silicon Valley entrepreneur and achieve the desired goal.
See, most of the businesses fail cause an entrepreneur tries to be everywhere and do everything. When you know the business you want, don’t plan for another at the same time. You will get numerous business ideas which seems way better than the one you are running now. This causes distraction between you and your business. Prioritize the first business until you feel it has been fully automated and doesn’t require your physical attention to continue the growth.
Yes, it’s important to build multiple income streams to be financially independent. But for $100K a year, anyone can scale it by running a single business. Making additional $100K becomes easy when you know the exact process and that reduces risk of failure or losing money too.
Growing business goes together with growing your education/ skill. The more you invest in yourself, the higher the result in the business. As a beginner you need to be obsessed with your work. You might not have the same work experience as other competitors but you can learn about the steps that need to be completed to reach a certain business level. There are numerous articles or courses available from the experts through which you can get 10 years of business value in a couple of days. To scale your business to $100K a year you need to learn and spend time with people whose net worth is much higher. Make a habit of feeding information daily and updating business marketing methods with proven strategies.
For entrepreneurs business is more than making money. Thinking long term and operating to make more impact matters. When you believe in your service, it will be easy for you to scale your business to $100 a year or may reach the goal even within a couple of months. Being passionate is one of the keys to authentically grow your business.