Making a living online is a career and like any career it is a marathon and not a sprint. Understand that it will take you months of hard work to get there and because of that you cannot rely on sheer willpower alone. Willpower is short-lived, so you should use it to shape your environment into something that will be conducive to you succeeding online. Here are some ways you can do this:
Quit your Job and Live Frugally
Most people try to bootstrap an IM Startup. I believe this is not the right approach as you are burning the candle at both ends. In the end your full-time job will require you to put in some OT, or your significant other will demand some attention and any momentum you built up online will come to a screeching halt. Once that happens you face inertia, which is hard to battle. The fact is, you need several months of solid full-time effort with nothing else distracting you or taking up your time and energy . You need to put your best foot forward. So, start saving money, live frugally. And once you have a good year of float saved up, quit your job. If you can, move somewhere wherethe cost of living is next to nothing, as a year of float in Mexico or Thailand is not a lot of money (it can be done comfortably for 10k per person including flights).
If this isn’t possible (Maybe you have toddler quintuplets) then you have no choice but to try to bootstrap it. Be aware of shifts in momentum and try to never go more than a day without working on your business. Try to change your environment so you don’t have to work overtime or have other night-time responsibilities. Work when the rest of your family is asleep, but don’t sacrifice sleep for it. Don’t get distracted by shiny objects, or by time suckers like facebook and email.
Work in a quiet, dedicated work environment
Don’t work on the couch at home if you are surrounded by distractions. If you have the space in your home to create a dedicated work office, do it. Close the door and let your family know you cannot be distracted. If you don’t have the space then get out of the house and work at a library or a coffee shop (I’d recommend the former over the latter due to its more academic atmosphere).
Get a mentor/accountability partner:
Everyone needs a roadmap to success. If there’s one thing I learned from working with the interns, the biggest challenge online is waking up in the morning and knowing what to do next. You need to be excited about completing a project. You need to feel a deep sense of calm and confidence when you sit down in your chair. The best way to get this roadmap is to work with a mentor – someone who has the experience and can guide you. Someone who will tell you flat out that your idea or approach is stupid, and someone who will keep you accountable to your success.
A good mentor is expensive however, so an alternative would be an accountability partner. I’ve blogged about this in the past, so I won’t go further into it here.
Join or form a Mastermind
Find other people in your area at the same level or higher than you in the IM game and meet up with them on a monthly basis. If you don’t already know people, check meetup.com or warriorforum for meetings in the nearest big city and go and socialize. If you live in the mountains in Peru then go do it on Skype or Google Hangout.
A good mastermind should be composed of no more than 5 people, and should values everyone’s time. A format I use is to give each member 5 minutes to update everyone else with what they’ve done in the past month, and an additional 20 minutes to ask a question of the group. With 4 people you are in and out in 2 hours.
Cut Loose Ends and Burn Bridges
Look at how you spend your time, and figure out how to cut things out so that you can focus on your business. If it means your personal time gets sacrificed then make the decision and cut it out of your life. If you spend a long time commuting every day, leave the car in the garage, take the train and work on your laptop / tablet. Give up the gym, give up social time with friends, do what it takes.
If you have relationships in your life that are impeding you from succeeding, cut them out. This took me years to discover but was one of the best things I’ve done. If people don’t treat your goals seriously, or if they are negative about them have a talk with them. If they still don’t treat them seriously then cut them out.
Disclaimer: I am not responsible for any drama caused by this technique. Unless it is positive, in which case I take full responsibility :)
Bradley C. says:
I would agree with everything you just said, except for the part about quitting the gym.
Not sure about other industrialized nations, but here in America way too many people put their careers ahead of their health. With obesity still on the rise, people need to think of physical fitness and wellness as a form of currency… and just like a bank account (or business), you have to invest a little bit every day to reap the interest.
There was an old quote from somewhere that went something like this: “People spend the first part of their lives sacrificing their health for money, and the second part of their lives spending money to reclaim their health.” I believe the better way is to strive for a balance from the start.
Daryl Mander says:
I’ve done a lot of the steps you’ve recommended Hayden. I quit the job, moved to Malaysia, I’m living frugally and I’ve cut out all TV watching, triathlons, bike riding, video games, most novel reading. But, I have kept my gym habit. I agree with Bradley that you shouldn’t cut back too much on fitness, but I think that for different reasons. I think it is OK to prioritise business above fitness in the short term, but you must recognise that keeping physically fit improves your alertness, productivity and ability to focus. So, even if you prioritise business above fitness, it is still worth it keeping the fitness habit because it helps improve your ability to do business.
Hayden says:
The part on the gym was assuming you have to boot-strap it, not that you’ve quit your job etc. I agree that health is extremely important, though I think the gym is more social than anything. If you want to stay healthy and kill some stress do some sprints or pushups. Focus on diet and sleep. You don’t need a gym for that. Anyway that’s a whole other topic…
Michallo says:
I have 10 years of float in my bank account, maybe more, I live in a low-cost country (where I was born), I’m on the verge of believing websites can bring a stable income and yet I can’t get myself to quit regular work and go full steam IM.
It’s just hardwired in me. This idea of going to work, of taking on responsibility, of looking legit in the eyes of family and friends who don’t understand you can make a living online.
Thanks Hayden for kicking me in the butt with this post.
And I have to go with Bradley on health and fitness. I let mine slip deplorably ever since I switched from teaching to webmastering / IM / SEO.
How about penning the next post on IM fitness, Hayden ;)
Tiflaq says:
Hi Hayden,
Thank u very much 4 sharing ur plan in detail. Quite inspiring when u said that the adsense approach would still work.
My question is: would it be a nice strategy to start with an expired domain with PR 2 or 3 even after knowing that the niche history of the domain was once totally unrelated to what we are going to work with? Is there any threat to the relevancy of the site by doing so?
Rob Cubbon says:
Interesting post. I agree with everyone else that exercise is important. Gyms can be expensive. But social? You haven’t been to my gym! ;) Working on the couch is good for some people. Sometimes it’s nice to move away from the desk so you’re not working in the same place all the time.
amp says:
I agree on the gym/health part as an athlete but… I think it’s temporarily guys, to get your IM going without distractions. But if you can do both without problem then your golden.
stephen says:
Thanks hayden.
as i said the other time on one of your posts. i didnt read that before quitting my job. as am writing this now. i have quit my job with not enough savings for more than even three months. (yeah i know am a fool :)) . and i also have a beautiful wife and two children. BOOM!! . so am in for real. so let see how this turns out. perhaps after some months or years i will tell my whole story right away. i am now following most of hayden’s post and podcast,the one with hayden about expired domains. it is is very powerful. it is the one that suddenly gave me the adrenalin rush to quit my job. i write and build sites each day. and HOPING. yes AM hoping that i even make $500 a month. so far so good. Thanks HAYDEN. you dont know how you are feeding some developing africans like myself.