The process of building wealth isn’t rocket science:
- Make money … Develop sources of income that will produce steady results;
- Save money … Implement a disciplined accumulation plan; and
- Invest money … Implement a consistent and diverse long-term strategy.
But it is easier said than done. And that comes down to how you generate your income.
It’s never too late to review the criteria for a satisfying earning experience:
- Enjoy your work … Success is more attainable if you like what you’re doing;
- Be proficient … Use your top talents to become an authority in your niche;
- Be well compensated … Identify that part of your niche with the highest upside; and
- Make a plan to get there … Research and confirm a realistic route for achieving it.
The ideal scenario, of course, is to be your own boss.
And that is where e-commerce can provide the ideal work environment.
Just know there’s a distinct difference between operating a business and funding a hobby.
In the latter, you can easily meet two of the four criteria for task happiness, but your endeavor will be revenue-negative. As well, it’s a fallacy to think you’ve accomplished the former by merely cloning a guru’s site and not putting in the hard yards to understand whether or not your role in a particular business enterprise is viable.
In other words, how realistic is it to expect your efforts to replicate that of the business originator?
And what’s the best way to get started?
This is the prime reason why — after you’ve conducted your research on the four criteria — you should endeavor to understand the fundamentals of marketing. Those principles will be vital and applicable to whichever niche you select and significantly increase your chances of success in your chosen endeavor.
A recent study by the Swiss bank UBS listed the following among its findings:
- 77% of millionaires grew up middle class or below; and
- 85% of them attribute their success to hard work.
The advantage in e-commerce is that hard work can be transformed into smart work.
That involves identifying a relevant mentor and automating daily tasks, but the plan starts by accepting that marketing is the engine room of business and making a commitment to master it.
There’s no time like the present.
If you’re motivated to make the effort to earn happy, odds are strong that you’ll soon be enjoying many a perfect day, just the way you want.