The Four Types of Education You Require to Become a Successful Business Entrepreneur

As an aspiring successful business entrepreneur, you dare to tread a different path to 97% of society. You seek to become rich so you can design your own life independent of your paycheck. Instead of a J.O.B. you prefer to work for yourself and be your own boss, maybe work from home or anywhere you like, and to become financially free to live out your dream lifestyle.

Whether you start a traditional business, a home based business or an internet business, Robert Kiyosaki (Rich Dad, Poor Dad and The Business School) talks about three different types of education that are required for the successful business entrepreneur. If you want to achieve this financial freedom to live your own life, you need scholastic education, professional education and financial education.

Let’s unpack those three first.

Scholastic education basically is what you get at school. In the main part, it’s about basic literacy. You are taught how to read, write and do maths, very important for survival in today’s information age. Throughout our childhood we are taught the importance of getting a good education. As adults, we are encouraged to become lifelong learners and invest in our personal development. It is pretty much indoctrinated in us that getting good grades at school, even going to university, is the best way to get a high paying job.

Professional education is what teaches you how to work for money. This type of education you can get from apprenticeship and training as well as through to your work experience. This type of education can range from apprenticeships in a trade or service to higher level training to become a doctor, lawyer, accountant, pilot, and so forth.

Financial education is rarely taught at school or at home or anywhere else for that matter! This is where you learn how to make money work for you (as distinct to you working for money as above). Most people don’t even realise that scholastic and professional education will only get you so far.

Without financial or wealth education, you may not appreciate the ‘different path’ available to you and will end up always working for the rich, not becoming rich. This is how Robert Kiyosaki’s distinguishes the two with his Rich Dad, Poor Dad concept.

However, these days if you are doing business mostly on the internet, there is, in my opinion, a really crucial fourth type of education and that is social education. So I’ll add this one into the mix.

Social education is important in any business where you are making sales and dealing with customers. But online, it’s even more important since you cannot ‘meet’ in person and much of our social behaviour relies on body language and visual and auditory cues.

Social education is about developing “emotional intelligence” towards others. It is learning to communicate effectively with people with regard to their situation, needs and feelings. It’s about active listening and empathy. It’s about connecting with a person’s highest hopes and worst fears.

Some would say that you develop the ‘sales’ skills to manipulate people. I advocate you develop social skills to match what you can offer to what people are looking for! (In that scenario, there is no need for a hard sell.)

On the internet, social education is critical to every part of your marketing, sales and support. This is because buying decisions depend so much more heavily on people’s sense of trust. Being seen as an authority and a leader builds your online credibility.

This is evident in the growing trend towards social networking and personal branding – what is termed “attraction marketing”, which is nowadays the business model of all successful internet marketers. People need to know you, like you and trust you before they will do business with you, become a customer or partner with you.

Social education is therefore one of the cornerstones of effective marketing. It teaches you aspects the psychology behind different personality types, how people make decisions, how to attract others to you, how to reach win-win outcomes, and so on.

If you spend time learning how to translate that knowledge and understanding into your personal branding, your copy writing, your presentations and your conversations, it will skyrocket your business success.

How To Develop The Winner Home Business Entrepreneur’s Profile

When you want to be a winner and operate a successful home business, there are several things that you need. You don’t need millions of dollars to invest or a large home office. No, the things that really matter are things that you can control, for free. These things are characteristics that you can develop in order to fulfill your dreams and make a real difference in your life.

Passion

The first thing any home business entrepreneur needs is passion about their business. If you don’t have passion for what you are doing, you can bet it won’t be as successful as you want it to be. People with passion work harder and are more focused on goals than those who could care less about what they are doing. Passion is something that costs nothing and can be mustered up with the right attitude.

Action

The second thing you need to do to be a winner is to take action. You can sit at home and think about fantastic ideas all day. But if you never take action and motivate yourself to make things happen, nothing will ever happen for you and your home business. Successful home business entrepreneurs make things happen by their actions.

Attitude

Did you ever hear that attitude is everything? Growing up you likely heard that from your parents, teachers, and coaches. As an adult, the same principle is true. Your attitude can make or break you in the world of business. There are many examples. If you have a bad attitude, you will not be a success because no one will want to work with you and no one will buy from you. If you have a good attitude, on the other hand, then people will love working with you and will buy from you!

Faith

The last thing you need to develop a winning home business entrepreneur’s profile is to have faith. Many people can create ideas and winning marketing plans. However, they lack the faith and determination to actually believe their ideas are successful ideas. If you don’t believe in yourself, no one else will believe in you either. So, you have to keep the faith in your ideas, yourself, and your business. When you can have that faith that things will work out, then they usually will!

If you can find a way to develop these traits, you will be a success in your home business. Sure, these traits can be more difficult to find than money, for some people. But, they can be the difference between your home business being a success and it being a failure. So take the time to find out how to gain these characteristics. However, if you look inside yourself, you will likely find that you already possess them!

Business Entrepreneur Development Strategy

In today’s Business Entrepreneur Development Strategy, we’ll be comparing and contrasting the differences of both online and offline businesses.

In the days of old, one had very limited option when it comes to starting a business. There was usually one route to go and that was your traditional old brick and mortar type of business or what is known as an offline business in today’s term. With technological advances, times have changed. One can now have a virtual business or what is better known as an online business.

Having had the privilege to experience both side of the coin of owning both an offline and online business, I can easily provide you with both the pros and cons of each one.

Let me just say that you can find success in both arenas of your choice. However, there are certain factors to take into consideration when choosing a business model to work with. Whether you chose offline or online the most important factor is deciding on what product or service you are to provide for your customers. I know it sounds obvious but you be surprised. Often times people pick things that they think will sell instead of what they are passionate about. It’s always a good idea to believe in what you are selling.

So before you go to strike it rich as an entrepreneur and start your own business, lets take a look at some of the differences of choosing between an offline business and an online business.

Offline businesses – they usually requires you to have a much higher start-up cost. Depending on what kind of budget you have, you will have to consider your overhead such as insurance, utilities, and rent. Location is also another major factor that needs attention to. A good high traffic location will usually cost more in rent since it involves real estate. After all, you want to have your business easily accessible to the public.

Having an offline business usually means having a commute for both owners and customers. You simply can not bring the store to your customer. If it’s a physical product you are offering and not a service, there’s also inventory to be considered as well. You will most likely need to staff your business unless you plan to do everything yourself, which in a lot of cases is not feasible.

So far having an offline business seems like a lot of money and work involved; and it is but there are rewards as well. There’s real human interaction with having a brick and mortar business. You simply can’t download a cheeseburger or a haircut. As you create a loyal customer base, your business becomes more profitable. You and your business become a pillar to the community in which it serves and that can be priceless.

Online businesses – they usually have a relatively low start-up costs. The usual high overhead of rent, utilities, and insurance that is associated with an offline business is replaced with a domain name, internet connection, and web design. In some cases you don’t even need your own website if you are an affiliate marketer.

We talked about having a high traffic location in an offline business; the same principle will apply in your online business only you don’t have a physical address to drive traffic to. Your domain name will be the new home of where you’ll want to drive traffic to. No business will sustain itself without having visitors or better yet customers, so traffic is very important. Both you and your customers no longer have a commute to get to your place of business. It’s as close as where your computer is located.

Depending on the products and services you are offering in your online business, inventory can be a thing of the past. I personally don’t want to deal with physical products and having to hassle with shipping but if you decide that is something for you than drop shippers can help you in that department so you don’t have to worry about keeping inventory. I much prefer informational products that can be instantly downloaded once it is purchased.

Since you don’t have a physical store to maintain, inventory being optional, you can pretty much run the show by yourself. However if you are not knowledgeable in building websites or being a little tech savvy you can easily outsource the work for little cost if you shop around.

Wow! So far there seems to be so much more advantages to operating a business online versus offline, why would anyone chose the latter? Good question! Have you ever heard of the saying “mind your business”? All businesses needs looking after, you simply can’t run a business on auto pilot. So depending on what personality type you may be, you may find it difficult to be on the computer all day long improving your website, checking emails, researching, fixing technical glitches and driving traffic to your business. There’s no real face to face human interaction involvement in an online business unless you chose to incorporate some of the offline aspects of doing business into it as well.

There’s no right or wrong choice in one’s preference of doing business. My goal is to show you the differences between both offline and online businesses so that you can weigh your options and make a more informed decision. You may even consider incorporating the two so you can have the best of both worlds as many successful business entrepreneur have developed in their strategy.

What My MLM Business & Personal Development Have Done For Me

My MLM business and the personal development I’ve done as a part of it have definitely transformed my life. In the last 5 months I’ve made such a dramatic transformation that my self from 6 months ago probably would not believe it, had you told me then.

I have gone from serial entrepreneur to serious entrepreneur in just a few short months, after 8 years of dabbling at businesses on the side.

I finally realized that having a hobby of running businesses would never help me break free of my job. Running non-profit organizations from my home was not the solution to my challenges.

Here are some of the changes I’ve made –

  • How I deal with stress. I don’t take stress and sleep with it.
  • I no longer start my new day with stress that has been building for months or even years.
  • How I deal with daily irritations. I used to allow these to escalate to anger. It is extremely rare that anything irritating escalates to anything more now. This is extremely liberating.
  • How I talk with my family about things I don’t approve of. I can be firm, without getting upset.
  • I never have a bad day, only a few challenging moments. (This is an affirmation I learned from Jeffery Combs, but it’s actually become true for me).
  • I have learned the importance of thoughts. Brian Tracy says we can only focus on one thought, positive or negative. Our choice.
  • By applying the last concept from Brian Tracy, I have dramatically changed my level of happiness and self esteem.

The last two points are so important, I would like to focus on them a little more. The transformation in who I am and in my personal relationships is truly remarkable. This is beginning to seep into to my business relationships and connections as well.

If you would like to grow an MLM business or become a successful entrepreneur, ongoing personal development is the only way to guarantee success. To exponentially grow your profit potential, you should be investing about 5% of your income, time and energy toward growth and personal development. This is about 8.4 hours per week, the equivalent of 2o minutes per day plus 6 hours at some point once, or 3 hours twice, per week. Most of us spend far more than that on entertainment. For a $40,000 per year earner, as I was, that is about $166.67 per month or $5.55 per day. I used to spend more than that every day on just coffee. When I calculated the numbers based on my adult life and income. I figured I was about $20,000-25,000 behind on this essential investment.

I will make this up over the next two years. If I had put the 8.4 hours I mentioned into personal development since the age of 18, that would equal nearly 10,000 hours of personal development and put me close to the level of extreme mastery. With an adult life span of 62 years from the age of 18 to 80, just twenty minutes per day would put you midway between the point of basic mastery (about 5,000 hours) and complete mastery(about 10,000 hours) for most subjects when you reach 80 years of age (around 7,521 hours).

Do you feel like this is worth 20 minutes per day? I believe it’s worth 8.4 hours per week, honestly.

Here’s an even better plan. If you did 8.4 hours per week from the time you are 16 years of age, missing on rare occasions due to emergency, you would reach complete mastery of personal development at around 41, my current age. How do you feel that kind of commitment would make your life different?

If you asked someone like Tony Robbins how much time and money he invested into his personal development, and what his assets are, as well as his level of happiness, I believe the answer would be very interesting. If your income has stagnated for years like mine did, you may be way behind on this. Don’t expect your income to catch up overnight…when you spend three hours reading a self help book that you paid twenty dollars for.

If your MLM business is not growing and producing the results you deserve, you should really take it up a notch with regard to your personal development.

I have made some of the strongest and most important business connections of the rest of my life over the last few months.

These are the key points of this transformation –

  • You can focus on a positive or negative thought, not both. The negative will drain your energy and repel what you desire. The positive will give you energy and attract what you desire.
  • Taking small, consistent steps leads to exponential growth. Don’t overwhelm yourself. It’s better to do something small and never miss. Read some personal development in your required area daily, even if just 15 minutes.
  • Your results today are a manifestation of yesterdays beliefs. Change today’s beliefs to change tomorrows results. (I’ll give Jeffery Combs credit for this one too though I’ve heard similar thoughts from the Buddha and many other enlightened individuals).
  • The Law of Cause and Effect is the foundation underlying everything. To change the effect, understand the cause.

I hope that you will take what I have learned about the value of personal development and transform your life. If you are an MLM business entrepreneur, I hope you will utilize this to transform your business as well, moving into long term relationships and massive profit rapidly.