everyone welcome to another YouTube hang
out today I want to talk about how do
you measure your success in your first
year of business one of my members of my
online mastermind group asked me that
this morning how this could be a great
video topic to be able to help her and
also help you guys might be facing the
same challenge so her particular issue
is she’s six months in she doesn’t
really know if she’s successful or not
she doesn’t really have any metrics or
know how to compare herself to other
businesses and I’m going to give you
five questions to ask yourself to help
you understand if you’re successful yet
in that first year six months is an
interesting point because by now the
fumes have worn off right when you start
any business you’re super excited you
are ready to go you’re telling all your
friends about it you’re really
passionate and you’re just driving and
living off of fumes right you don’t need
a lot of sleep in that first little bit
you’re just so excited to start a
business after the six-month mark and
carrying on for the rest of the year
that’s the test that’s the test to see
if you’re still passionate and excited
about it see if you actually love the
business that you’re in or if you just
love the idea of being an entrepreneur
because a lot of people rush into being
the entrepreneur and start in the
company but it’s not actually the right
business for them yes maybe they’re
supposed to be an entrepreneur but they
pick the wrong company to start and so
the first question that I have that I
would ask you is am I still passionate
about what I do do I still love this
business is this something that I wake
up and I’m still excited by and if it is
that’s great you have to continue if
it’s not then you might start to
question it and think about okay how can
I make this more of me how can I bring
more of my energy and passion into this
business is it a tweak or is it closing
down and going doing something else or a
lot of people start just the plain wrong
business and so am I still passionate
about it is the first most important
question that you want to ask because of
the core of any successful business
longer term is being passion about what
you’re doing the second is the second
question have I adapted my business
since I started one thing
that you’ll always find in any business
is the idea that you start with is not
the idea that you finish with right you
have an idea you have it on paper maybe
write a business plan and it’s going to
change over time right it’s you look at
any successful company look at how they
started it’s never what they started
with is never what they are doing right
now you look at companies like BMW you
know you know reason why their logo is
that four part blue and white icon
that’s an airplane propeller because
they started off making airplanes you
look at companies like Wrigley that
makes a gum he started off I believe
selling soap or detergent and then had
or had a bunch of other products that he
just created as a free gimme and then
gum was something that he just offered
out for free and people love the gum so
every purchase of his soap or detergent
that you buy could get some free gum and
he eventually moved to just making the
gum because that’s what people wanted
that’s what he was excited about and so
you know look at my youtube channel how
much it’s changed if you go back six
years on my channel go back you’re
talking six month time frame go back six
months and see how much it’s changed so
has your business change because it
hasn’t changed then I would say that’s a
factor that you not being successful you
want to make sure that you are changing
your testing your assumptions that
you’re always adding something new to
what you’re doing in your business
number three is am i building or losing
momentum this is one is really important
because at the start you feel like you
have a lot of momentum right you are
energetic you have lots of ideas you are
telling all your friends about it and
you get this initial surge of interest
and maybe your friends are subscribers
your YouTube channel or buy your product
to tell the tell their friends about it
and then you quickly exhaust your local
network and then it’s easy for mint in
the slip and so is momentum still moving
forward for you right have you added new
things to your product line to your
website to your business that gets
people talking are you you know featured
on somebody’s youtube channel are you in
the media are you getting new customers
are you getting some more momentum going
because a lot of times that’s what’s
going to
you can cite the flatline the new
momentum is going to dip and with that
diplom entom is going to come you
feeling like this isn’t going to work
maybe I shouldn’t do a mission with
something else and so if you still have
some momentum or if you see some
momentum starting to pick up then I
would say that is a great factor in your
business becoming successful uh number
four is am i adding value to my clients
and at the end of the day you get paid
by creating value right businesses
create value for their clients so are
people enjoying your business right she
has a youtube channel so are people
subscribing are people leaving comments
of people giving you thumbs ups or
people engage with what you’re creating
right doesn’t you don’t need a lot at
this point right I mean ideally you do
want to have tons of people engage with
what you’re doing but I remember for me
when I was first starting just having
one person say this is a great video
thank you so much it’s helped me make an
importance in my life then I knew that
what I’m doing is important is adding
value and so are you getting that kind
of feedback and if not then what else
can you do to provide more value to your
customers and then the fifth is am I
making money you know four and five are
tied to each other right if you are
providing value then you’re going to
make money and that might not be
immediate there might be a little bit
delayed right if you’re providing value
people will talk about you you’ll get
more traffic you get more people
visiting you and that will translate
into money but value and money are tied
so are you making money in the day the
business has to make money right we’re
not here running the charity and so are
you making some money through your
business it may not be a lot and it
depends on how much time you’re
committing to this is a full-time
business or is this a part-time business
you’re committing half an hour data this
or 14 hours a day to this right that
will dramatically impact how much money
you’re going to be making but are you
making some money and is that slowly or
quickly going up right is is this the
trend I’m making money instead of this
the trend and I think those five
questions and for those of you who are
watching and just kind of joined them
one am I still passionate what I do and
will these over here to have I adapted
my business since I started three my
building
losing momentum for am i adding down to
my clients and five am I making money
those will be a really accurate
reflection I think if you are successful
in your first six months or in your
first year of business much more than
have I may X thousands dollars because
every business is different but if you
follow those five questions you will
know if you’re successful or not and
what you need to do to change it there’s
a bunch of people watching rishi cup is
watching i hope you’re getting some good
value from this so how am I the only one
watching this live glad it’s helping you
there’s a bunch of people watching Venus
from Ireland Randy handbag good to see
you man greens from India I love the
international audience here for those of
you who are watching live leave it in
the comments man it’s awesome to see
where you’re coming from hello from
Earth I love it anyway thank you guys
for watching I hope that helped you for
those of you who are watching the live
stream let me know what you think leave
in the comments below and if you’re
interested in joining our mastermind
group I’ve left the link in the
description too awesome guys have a
great day I’ll talk to you soon
out today I want to talk about how do
you measure your success in your first
year of business one of my members of my
online mastermind group asked me that
this morning how this could be a great
video topic to be able to help her and
also help you guys might be facing the
same challenge so her particular issue
is she’s six months in she doesn’t
really know if she’s successful or not
she doesn’t really have any metrics or
know how to compare herself to other
businesses and I’m going to give you
five questions to ask yourself to help
you understand if you’re successful yet
in that first year six months is an
interesting point because by now the
fumes have worn off right when you start
any business you’re super excited you
are ready to go you’re telling all your
friends about it you’re really
passionate and you’re just driving and
living off of fumes right you don’t need
a lot of sleep in that first little bit
you’re just so excited to start a
business after the six-month mark and
carrying on for the rest of the year
that’s the test that’s the test to see
if you’re still passionate and excited
about it see if you actually love the
business that you’re in or if you just
love the idea of being an entrepreneur
because a lot of people rush into being
the entrepreneur and start in the
company but it’s not actually the right
business for them yes maybe they’re
supposed to be an entrepreneur but they
pick the wrong company to start and so
the first question that I have that I
would ask you is am I still passionate
about what I do do I still love this
business is this something that I wake
up and I’m still excited by and if it is
that’s great you have to continue if
it’s not then you might start to
question it and think about okay how can
I make this more of me how can I bring
more of my energy and passion into this
business is it a tweak or is it closing
down and going doing something else or a
lot of people start just the plain wrong
business and so am I still passionate
about it is the first most important
question that you want to ask because of
the core of any successful business
longer term is being passion about what
you’re doing the second is the second
question have I adapted my business
since I started one thing
that you’ll always find in any business
is the idea that you start with is not
the idea that you finish with right you
have an idea you have it on paper maybe
write a business plan and it’s going to
change over time right it’s you look at
any successful company look at how they
started it’s never what they started
with is never what they are doing right
now you look at companies like BMW you
know you know reason why their logo is
that four part blue and white icon
that’s an airplane propeller because
they started off making airplanes you
look at companies like Wrigley that
makes a gum he started off I believe
selling soap or detergent and then had
or had a bunch of other products that he
just created as a free gimme and then
gum was something that he just offered
out for free and people love the gum so
every purchase of his soap or detergent
that you buy could get some free gum and
he eventually moved to just making the
gum because that’s what people wanted
that’s what he was excited about and so
you know look at my youtube channel how
much it’s changed if you go back six
years on my channel go back you’re
talking six month time frame go back six
months and see how much it’s changed so
has your business change because it
hasn’t changed then I would say that’s a
factor that you not being successful you
want to make sure that you are changing
your testing your assumptions that
you’re always adding something new to
what you’re doing in your business
number three is am i building or losing
momentum this is one is really important
because at the start you feel like you
have a lot of momentum right you are
energetic you have lots of ideas you are
telling all your friends about it and
you get this initial surge of interest
and maybe your friends are subscribers
your YouTube channel or buy your product
to tell the tell their friends about it
and then you quickly exhaust your local
network and then it’s easy for mint in
the slip and so is momentum still moving
forward for you right have you added new
things to your product line to your
website to your business that gets
people talking are you you know featured
on somebody’s youtube channel are you in
the media are you getting new customers
are you getting some more momentum going
because a lot of times that’s what’s
going to
you can cite the flatline the new
momentum is going to dip and with that
diplom entom is going to come you
feeling like this isn’t going to work
maybe I shouldn’t do a mission with
something else and so if you still have
some momentum or if you see some
momentum starting to pick up then I
would say that is a great factor in your
business becoming successful uh number
four is am i adding value to my clients
and at the end of the day you get paid
by creating value right businesses
create value for their clients so are
people enjoying your business right she
has a youtube channel so are people
subscribing are people leaving comments
of people giving you thumbs ups or
people engage with what you’re creating
right doesn’t you don’t need a lot at
this point right I mean ideally you do
want to have tons of people engage with
what you’re doing but I remember for me
when I was first starting just having
one person say this is a great video
thank you so much it’s helped me make an
importance in my life then I knew that
what I’m doing is important is adding
value and so are you getting that kind
of feedback and if not then what else
can you do to provide more value to your
customers and then the fifth is am I
making money you know four and five are
tied to each other right if you are
providing value then you’re going to
make money and that might not be
immediate there might be a little bit
delayed right if you’re providing value
people will talk about you you’ll get
more traffic you get more people
visiting you and that will translate
into money but value and money are tied
so are you making money in the day the
business has to make money right we’re
not here running the charity and so are
you making some money through your
business it may not be a lot and it
depends on how much time you’re
committing to this is a full-time
business or is this a part-time business
you’re committing half an hour data this
or 14 hours a day to this right that
will dramatically impact how much money
you’re going to be making but are you
making some money and is that slowly or
quickly going up right is is this the
trend I’m making money instead of this
the trend and I think those five
questions and for those of you who are
watching and just kind of joined them
one am I still passionate what I do and
will these over here to have I adapted
my business since I started three my
building
losing momentum for am i adding down to
my clients and five am I making money
those will be a really accurate
reflection I think if you are successful
in your first six months or in your
first year of business much more than
have I may X thousands dollars because
every business is different but if you
follow those five questions you will
know if you’re successful or not and
what you need to do to change it there’s
a bunch of people watching rishi cup is
watching i hope you’re getting some good
value from this so how am I the only one
watching this live glad it’s helping you
there’s a bunch of people watching Venus
from Ireland Randy handbag good to see
you man greens from India I love the
international audience here for those of
you who are watching live leave it in
the comments man it’s awesome to see
where you’re coming from hello from
Earth I love it anyway thank you guys
for watching I hope that helped you for
those of you who are watching the live
stream let me know what you think leave
in the comments below and if you’re
interested in joining our mastermind
group I’ve left the link in the
description too awesome guys have a
great day I’ll talk to you soon
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