Thread by @mywifequit

13 Lessons Learned From Building Two 7-Figure Businesses

// THREAD //

In 2007, my wife and I lived to work

Our schedule:
>>Wake up
>>Eat breakfast
>>Go to work
>>Come home
>>Eat dinner
>>Watch TV
>>Go to sleep

This was a non-stop cycle.

It all changed when my wife got pregnant.

We knew we couldn't keep this going

The solution?

Start an online business.

Over a decade later, we now have two 7-figure businesses

Here' 12 lessons we've learned along the way:

1. Lifestyle is everything

Our first business was an eCommerce store.

Why?

Because lifestyle is everything.

We wanted to stay home with our kids + be there as they grew up.

Choose a business that gives you freedom to live the lifestyle you want.

2. Focus on what you're good at

The key to a successful lifestyle business:

>>Be hyper focused on one thing
>>Be the best at it

3. Work with the right people

Requirements:
>>Work with people you love
>>Work with people who challenge you

This makes business 100 easier.

4. Act first, think later

Decision making is a valuable skill for ANY business owner.

Avoid analysis paralysis... at all costs.

Act first, think later.

5. Retain ownership

Stay away from 3rd party services as much as you can.

Ex. Ebay + Etsy

Reason?

They control you.

6. Smart outsourcing

Outsourcing will be necessary.

BUT

You have to do it right.

Understand what you're paying + for the underlying principles of what you're trying to outsource.

7. Establish a routine

Bad:
>>All nighters
>>Working all day

Good:
>>Routines
>>Sticking to them

Routines prevent burnout and aid progress.
Establish a routine + stick to it.

8. Treat customers as royalty

Bad news travels fast... especially on the internet.

Take these stats:

>>The average business owner doesn't hear from 96% of unhappy clients.
>>Every dissatisfied customer will tell 9 other people (on average).

Treat your customers with respect.

9. Exercise
Exercise, exercise, exercise.

Every single day.

This has many benefits:
- health
- productivity
- stress management

Make it a part of your routine.

10. Just ship it

Key to success:
Just start.

You can't win without executing.

Don';t worry about minor tweaks and fine details.

Just launch + see how you do.

11. Don't be cheap

Being cost-effective is smart

Penny pinching is not.

Most expensive software and online tools costs $$$ for a reason - they are worth it.

purchase =/= investment

12. Don;t take yourself too seriously

Taking yourself seriously = fasttrack to burnout

Enjoy the little things + keep living the dream.

13. Stay inspired

Motivation is fleeting.

Hand out with the right people, stay in the zone, + be inspired

Want to start your own online business?

Join my 100% Free 6 day minicourse below:

mywifequitherjob.com/how-to-open-an…