Have you ever wondered why starting a business is so damn difficult? And all the while, some entrepreneurs make it look easy.
What's up with that?
In today's post, you'll discover a universal and unshakable principle that makes being an entrepreneur difficult. There's (almost) nothing you can do about it, but if you know about this, you're much more likely to see it through...
If you've found yourself struggling along with building a business, putting in a lot of work seemingly without payoff, it's likely that you're stuck here:
That's when your motivation to learn new things and develop your entrepreneurial skills is already fading. You're noticing that you have to put in many hours to overcome new learning plateaus. At the same time, payoff from all your work is still scarce or even non-existent.
The payoff curve doesn't necessarily grow the way it's depicted in the video. Just like you can waste your time instead of focusing on core skills and improving them effectively, you can make bad business decisions and hamper that payoff curve.
This is one of the reasons I advocate building a mailing list and creating & selling products so much.
Think about it:
By focusing on building these assets, you're ensuring that the payoff curve grows in the best way possible. You're stacking the deck in your favor.
If you're a subscriber, you saw my recent email series on rapid skill acquisition (I've yet to turn that into a downloadable, so if you missed out, you'll have to sit tight). In the series, I talk about building skills in a matter of weeks and months, so is that a way around the dry stretch?
Yes and no.
Yes, as you get better at rapidly growing your skills, you can also get results sooner and you can shorten the dry stretch.
You have to remember that A) even skill acquisition is a skill, so you won't be good at it right away and B) no matter how great your skills are, you can't expect instant success. There's always a "wind up time" when you start a business, even if you already have a large audience, lots of experience and so on.
Any questions or thoughts about this topic? Let me know by leaving a comment below!
I'm the founder of ActiveGrowth and Thrive Themes and over the last years, I've created and marketed a dozen different software, information and SaaS products. Apart from running my business, I spend most of my time reading, learning, developing skills and helping other people develop theirs. On ActiveGrowth, I want to help you become a better marketer and product creator. Read more about my story here.
The Simplest (and Quickest) Way to Validate Your Business Idea and Find the Perfect Niche
What to Do When You Launch a Product & No One Buys… IMP#36
How to Escape Hustle Mode
Looking Back at 2014: Power Curves, Teamwork & Mindset Changes