In this post, we talk about How to Raise Your Standards to levels that force you to become better.
When I first started out in business, I was motivated by money and the stuff that I can buy. I grew up middle class, so I dreamed of driving a McLaren, living in a 20,000 square feet mansion, and riding on a private jet.
Then, out of nowhere, I began to lose motivation after a couple of months. I wasn’t seeing the results I thought I should be seeing and so, I looked for more opportunities to make money.
I should have just stayed focused on that one area. My time was split between the are I was making a little money on and the new areas I continued to invest in. Eventually, I stopped making money in that area.
For some reason, I thought it was smart to invest in other opportunities. It is smart to invest in other opportunities, only after you have a thick stream of income from your first opportunity. I also began to understand that it’s a process. I wouldn’t bet on making $250,000 my first year, it takes time. Enjoy the process.
If I can go back, I would have dedicated 95% of my time to taking advantage of that one opportunity. The profits would have been reinvested into growing that opportunity. Not only that, I would have stopped focusing on the money and looked at my situation as an opportunity to grow. Even though I may work many hours, I am free to work when I want, where I want, and on my terms.
My standards were too low. I needed to shift my standard of searching for the next big hit to obsessively focusing on one area. If I split my time, I’m not able to take advantage of any of the opportunities. My other shift was a shift from a focus on money to gratitude for the freedom I now have.
Now, I focus on two main areas that happen to overlap. My main focus is to empower others to own their own businesses. This is what Entrepreneur Millionaire does. My other main focus is Shanklin Technology which assists individuals and small businesses with their online presence.
Up until my senior year of high school, I seen myself as an engineer. I wanted this amazingly comfortable life, but did not run the number on how much it would cost. Once I did my research on salaries, I found out that I would reach my target networth goal around 50. That is too old for me. I would like to reach my target networth goal by 35. This gives me 15 years which is half of what it would take as an engineer.
The shift I had to go through was from seeing myself as an engineer to seeing myself as a businessman. As an African-American male, there aren’t that many visible businessmen from where I’m from. Around 98% of people living the life I want to live are older white males in my hometown.
Since I wasn’t being exposed to successful Black businessmen, I had to do my own research. I stumbled on names such as John H. Johnson, Earl Graves, Reginald Lewis, Dr. Boyce Watkins, Damon Dash, and others as I devoured information about them.
Reading stories of perseverance through racism and other challenges gave me the motivational boost that I can become successful in business.
How to Raise Your Standards
1. Know who you are and who you want to become.
For me, I begin to ask myself questions to force myself to dig deep. Questions such as: Why do you procrastinate? Why do you want to become successful? What do you see yourself doing in the next 5 years? What lifestyle will you have? Will your current habits lead you to that lifestyle? What habits must you develop?
2. Set New Standards
Once I knew who I was and who I wanted to become. I set new standards which I predicted would lead me to success. Some of my current standards are listed here. “I will do whatever it takes to achieve my goals legally and morally.” “I will wake up early to implement my morning ritual to set the tone of the day.” “I believe in myself and will re-motivate myself if I begin to have self-doubt, complain, or have self-pity.”
3. Internalize and Implement Your New Standards
With my new standards written down, I began to implement them everyday. By implementing them on a daily basis, I internalized them.
Raise your standards and you life will change.