5 Things You Should Not Give Up to Become a Successful Online Entrepreneur
Don’t destroy your life to succeed in online business
Many online entrepreneurs become successful by turning their muse project into a profitable business venture.
In most cases, this is the result of a long-term investment. We invest our time, energy, and money into an online endeavour over long stretches.
Our zeal fuels our entrepreneurial engine. To keep this engine running, we need to give up a few everyday comforts and short-term perks.
This zeal, however, shouldn’t ruin our lives in the process.
I’ve been there. On the road to success, we become so obsessed with the online ventures that we put them on a pedestal.
Every other aspect of life is subordinated to our business accomplishments.
I could go to the cinema with my partner, but I need to finish another blog post. Just like the last 5 Friday evenings.
Our health, character, passion, hobbies, and family are suddenly of lesser importance.
This is a colossal mistake.
We’re all tempted to get sucked into the lure of never-ending business growth. More money, more diversification, and more success.
Sooner or later, a lack of balance will hamper your mental drive and also diminish your productivity. In the long run, your business will be crippled.
Consequently, the challenge resides in finding the right balance between pushing our online endeavours with ardour and maintaining a blooming personal life.
On this basis, here are 5 things you should not give up to become a successful online entrepreneur.
1. Your health and sleep
We often hear about the sleep routines of famous productivity monsters.
According to BusinessInsider, Tom Ford only needs 3 hours of sleep a night. Richard Branson sleeps 5–6 hours before concentrating on his 300 business ventures. We get the point.
Some entrepreneurial greats manage empires without the sleep cycle of an average mortal.
This is, however, the exception, not the norm. Even the most productive over-achievers need an ample amount of rest.
According to most reputable scientists, the average person needs 7–8 hours of sleep every day. Keep in mind that this is a general figure, not an immutable number.
The health benefits of a good sleeping rhythm are unquestionable and also crucial to the success of your online business.
The same goes for other unhealthy activities like consuming too many stimulating substances, legal or illegal.
I know, we all pursue our business quests with tenacity and determination and this renders late nights and early mornings indispensable.
The point is to find your best sleeping routine.
In this context, focus on productivity instead of increasing your working hours. Chances are, your late nights are the result of motivation, not efficiency.
When I started as a freelance writer, I was determined to get as many gigs done as quickly as possible.
Late nights became commonplace, and I always tried to submit before the deadlines.
After a while, I realized that my fitness suffered.
I didn’t have the same strength in the gym and I felt a general sense of fatigue during the day. The sleepless nights were taking their toll.
I also noticed that my output wasn’t of higher quality, it was just a little bit more.
The more hours I worked, the more I got done, but the increase was minimal. A classic case of the Pareto law.
I started to concentrate on effectiveness instead of busyness. Fewer clients, but a more favourable relationship, both business-wise and financially.
The results were the same, if not even better. My fitness and health said thank you.
2. Your character and values
Especially at the outset of your online career, the temptation to change your character for followers and sponsorships is high.
This product might not fully coincide with my values and taste, but the sponsorship money is decent.
This is a major trap.
In the early days of my travel blog, I got approached by various hotel chains and booking sites for sponsorships.
Unable to compete with the industry’s big fish, they were eager to place their name on travel blogs, Youtube channels, and Instagram feeds.
Hence, they offered good remuneration for sponsored posts but critically, they didn’t organize paid stays or fully-fledged reviews of their services and establishments.
A friend of mine who has a travel Youtube channel made the mistake of taking these sponsored opportunities.
She got paid a few hundred dollars in the process, but she never got a free stay. Nor did she test booking experience.
Needless to say, she didn’t know how good the hotels and booking sites were in reality.
This went well for a couple of months but eventually, her audience noticed. The backlash was intense. Luckily, she recovered. Lesson learned.
This is why you should never let your thirst for success and short-term financial gains undermine your character and values.
I nowadays use a simple rule. I ask my three questions:
- Did I use the product or service and like it?
- Would I recommend it to my audience?
- Does it adhere to my values, taste, and character?
All three have to elicit a resounding yes. If not, I will not use the product or service to advance my business and I will not share it on my platforms.
3. Your passion
“You can’t fake passion.” — Barbara Corcoran
Frankly speaking, once your passion becomes a chore, it isn’t a passion anymore.
Don’t get me wrong. There is a massive difference between pursuing a muse project merely out of passion and turning it into your bread and butter.
Nevertheless, your online venture has to remain your passion throughout the different stages of your entrepreneurial route.
There will be bumps along the way — moments during which you doubt the intensity of your passion — but you’ll have to persevere. Your passion has to occupy the driving seat.
When your passion for your blog, Youtube channel, or e-commerce site stops driving you, your motivation will subside.
As an example, if you are continuing your dropshipping site just because it gets you regular cash flows, it may be time to start a new project.
To prevent your passion from enslaving you over time, there are a couple of safeguards to put in place.
First, never expect your muse project to finance your life.
If you put too much emphasis on the financial return, your passion will wane. Expectation management is key here.
Secondly, treat your passion like a business but don’t treat it like a burden.
Take refreshing breaks. Pursue multiple muse projects to ensure variation and diversify your income streams.
In short, don’t let your most cherished activity evolve into an oppressing task.
4. Your hobbies
On par with sleep and health, don’t let your hunger for online entrepreneurship swallow up your hobbies and leisure activities.
We’ve all been there. We’re buried in work and our entrepreneurial endeavours eat up all of our time.
It’s in those moments that our hobbies need to provide compensation.
Whether it’s sports, movies, or other activities, you need hobbies outside of your main business endeavour.
I know, lots of online entrepreneurs become entrepreneurs by turning a former hobby into a business project.
This shouldn’t preclude you from pursuing other hobbies on the side or adding new ones to your life.
If your hobby becomes your business venture — ie your personal life and professional life constantly overlap — you run the risk of becoming too one-dimensional.
You stop thinking and living outside of your main business spectrum.
Over time, this will hinder your creativity and negatively influence your mental drive.
Always diversify, both in business and in your personal life.
5. Your work-life balance
“Be moderate in order to taste the joys of life in abundance.” – Epicurus
Last but not least, you should never give up your work-life balance to become a successful online entrepreneur.
Your kids only get one childhood. Your parents will not be there forever. And you only get one youth.
Many of us online entrepreneurs are in our 20s and 30s. We are destined to build skills, grow our business ventures, and broaden our horizons.
Personal growth is essential, but living our lives is equally important.
On this basis, while you are building your empire, becoming fluent in 3 new languages, and reading 400 personal growth books, don’t forget to live.
Always ask yourself the following: Why I am pursuing this entrepreneurial route?
You certainly don’t follow this path to give your life away.
