Evan Carmichael lays out seven principles for building a successful business: follow your passion, define a one-word value proposition, model what successful people do, spend only what you've earned, over-deliver to customers, focus on your unique strength, and build a supportive environment around you.
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Hi, I'm Evan Carmichael, and today I'm going to be sharing with you 7 ways to achieve wealth and success. These are the 7 things that you need to do to accomplish your goals, to hit your big dreams, and to build a successful business. Ready? Here we go. Number 1 is follow your passion. You have to follow your passion. You have to love what you do. So many entrepreneurs start a business just trying to make money, and if that's your end goal, It's never going to work out. Look at the most successful entrepreneurs of all time. Look at them all. Look back to how they started. Look back to why they started. It was never just to make a lot of money. Yes, you need to make money. This is not a charity. I want you to make lots of money. But the path to money comes by following your passion. You have to do something that you feel here. Something that's making the world a better place. Something that truly helps people. Not just something that you're trying to make a lot of money off of. Because if that's your only goal, if money is your only goal, you're never going to make it. You have to follow your passion and do what you love. Number 2 is figure out what you stand for. What do you stand for? Who are you? Give me one word that describes who you are and what you're all about, and then express that to the world. Because if you want to have success as an entrepreneur, it's not just about selling products and services. People want to know who you are and what you stand for. And if people can connect to you and feel your purpose and know why you're doing this, then they're much more likely to buy from you, to tell their friends about you, and pay a premium and drive further and spend more money to work with you compared to other people because they connect with that purpose. So what do you stand for? Make it one word, make it simple, make it easy to understand, and use it in all your marketing so that people can talk about you. Number 3 is model success. Whatever goal you have for your business, it's already been done. People have already accomplished whatever it is that you're trying to do. You don't have to reinvent the wheel for everything. You don't have to come up with every new idea for your business. The fastest way to accomplish success is to model success. Find people who've already done what you're trying to do, research their strategies, and apply it to your business to get results that— you can get results in days what may have taken somebody else years to do or you decades to figure out because you have some working strategies. So model success. Find entrepreneurs that you look up to who've done what you want to do and apply their lessons to your business. Number 4 is don't spend until you earn. Anybody can spend money, okay? Anybody. If I gave you $1 million, you could find a million different ways to do it. Not everybody can make money, can earn money. This is a challenge for a lot of entrepreneurs. So when you're first starting up, Don't focus on where you can spend the money. You don't need an office, you don't need business cards, you don't need a new suit, you don't need a car, you don't need any of that stuff. What you need is your hustle. You need hustle and investing from your profits and not from your pockets, okay? Don't go out and spend a ton of money on something to get it started. Find a way to start small without investing money. Invest your time to make something work, to start seeing some dollars, then invest that back into your business to grow. Don't spend until you earn. Number 5 is overdeliver like crazy. The best marketing strategy that I know is to overdeliver like crazy. When you get your first customer, go crazy servicing them. Give them way more than they ever thought they would get. You know, they're paying you for X, and what you want to provide is XYZ, right? Give them way more. Overdeliver. Go way outside the scope of what was expected from you because when you first get started, you know, when they hire you to do whatever project or they buy whatever product from you, you're, you're one person of many that they're working with, right? You're a tiny piece of their life or of their business. You want to make that piece bigger. You want to become more important. For example, you're selling to businesses, you don't want to just be another service provider to them. You want to be an integral part of their business. You want them thinking, "I can't imagine how we ever did this without this person helping us." You have to be that important. So you have to start over-delivering like crazy. Give them so much value that they can't imagine ever continuing on without you. How do you provide that kind of value? Because when you can do it, they're going to give you bigger budgets, they're going to give you more projects, they're going to order way more for you, they're going to refer other people to you. You gotta get that word of mouth going because you can't afford to go out and take out Super Bowl ad commercials, right? Overdeliver like crazy. Number 6 is focus your efforts. You have to stay focused, okay? As entrepreneurs, we've got a million and one things to do in our business. We have a million and one ideas of where we could take the company. You need to stay focused, okay? Find the one thing that you are one of the best people at the world in And instead of diverting your attention to try to cover all these million different things, pick that one thing, focus on it, make it amazing, be the best in the world at it, share your knowledge, and you'll get way better output by focusing on what you're really good at and love doing than if you're trying to scatter your focus across all these different efforts. Cut everything else out and stay focused. And number 7 is create a supportive environment. A huge challenge for entrepreneurs is staying motivated. Listen, one day you're all excited, you're going hard, you've got this big dream, you've got this big goal, you're going to make it happen, this is the day, you're going to land this client, whatever it is, you're super pumped and motivated and excited, and then the next day it's like you're starting all over again. And then you don't believe in yourself and say, ah, I don't think I can hit that goal, and, and, you know, where did all my energy go? You need to create an environment that supports supports you regularly. Where you wake up, you have a routine that supports you, that you're surrounded with people and books and ideas and media and an office space or working environment that supports you, that builds you up, that make you believe in yourself, that give you confidence to keep going. And you may be thinking, well, I don't have those kinds of friends, I don't have those people in my life right now. Design it, right? If you have friends who aren't supporting you, get new friends, right? If you need mentors to help guide you, you don't know know any super successful billionaire entrepreneurs to give you encouragement and motivation, read their stories, find their videos, check out their interviews, right? Being surrounded by these people, even if you don't know them personally, rubs off on you, gets you more motivated. Seeing an interview with Jay-Z or Richard Branson or whoever it is might spark something in you. Start your day with that. Watching videos like this, maybe that's the fuel that you need to get going. Start your day so you have that first thing in the morning. And you're ready to go for the rest of the day. You need to design an environment that every day supports you to go out and believe in yourself and accomplish your goals. So in summary, the 7 ways to achieve wealth and success: Number 1, follow your passion. Number 2, figure out what you stand for. Number 3, model success. Number 4, don't spend until you earn. Number 5, overdeliver like crazy. Number 6, focus your efforts. And number 7, create a supportive environment. And believe. For those of you watching the video, you liked it, you can subscribe to see more just like it. Thank you so much. I'll see you soon. And don't forget, for my best information, join my newsletter and get on the Believe Team today. Hi, I'm Jason J. Rosz Fonsica of RoszOnline.com, and I want to say Evan Carmichael's newsletter is consistent fun, inspiring, and it's the only newsletter I prioritize and look forward to. Period.
