How to Turn Your Business Dreams into Reality

In business, there are two types of people: the dreamers and the doers. Dreamers and doers both aspire for a better career as a means of improving their way of life. They recognize that their current state of affairs does not put them any closer to realizing their goals. As a consequence, their levels of frustration and desperation are increasing at an exponential rate.

They see others moving past them regarding career and life achievements. In the respective offices where they work, they view from the desks how disparate the lives of higher management are from their own. They put in more hours day-in and day-out. It has been that way for more than two years. And while they are thankful for the opportunity to earn income and a steady paycheck, the need for change is very evident.

The dreamer and the doer both recognize it is time to chart their course toward financial independence. A 9-to-5 job will never be the answer because no matter how much time they put in someone will benefit more from their productivity. And that someone is the person who signs their paychecks.

So both decided to think about becoming their own bosses; becoming entrepreneurs. And that’s about as far as the similarities between dreamers and doers get.

Dreamers never get past dreaming because they are afraid of taking chances. Once all the regrets, frustrations, and misgivings have been vented, they realize they are more content with what they already have than risk losing what they don’t have or can’t afford.

They probably have gone as far as preparing the project study and realized that starting a business requires capital. He may not have this capital and may have to resort to borrowing. The risk associated with borrowing is a risk he does not want to assume even if the business plan is highly viable.

In the end, he goes back to his dead-end job in the hope that the company will reward someday his patience and loyalty.

The doer is an entirely different personality. He is more committed and determined to make the lifestyle change; take control of his financial position and achieve independence. He wants his income to reflect his level of productivity.

Just like the dreamer, the doer undertakes his project study. He sees the risks and weighs them against the rewards. In the end, he realizes that if he doesn’t follow through with this potential career-defining plan, he never will.

He knows from experience, research, and association with like-minded people that when you abandon a life-changing course of action, you will be setting a precedent that will haunt you for the rest of your life.

You will forever be imprisoned by your set of fears and self-limiting beliefs.

You will be stuck within your comfort zone; unmoving, never progressing, remaining in the here and now rather than building a better, brighter future.

For the doer, this is not life. This is a prison. This is purgatory.

He does not want his life to be defined by a paycheck. The amount inscribed on his paycheck is how his company values his productivity.

The doer knows he is worth more than this; he knows he is capable of doing so much more.

The doer understands there are risks in starting a business even if it is based online where financial exposure can be minimal. Most of the losses are attributable to certain income from a secure paycheck.

But the doer has decided it is his time to shine. He will assume the risks because he knows these are part of attaining a bigger reward. He acknowledges there will be major struggles to be had especially at the start. But for him, “Damn be the storms! Let us forge ahead!”

Ask Yourself: Are You a Dreamer or a Doer?

Will you live out the rest of your life dreaming about the life you want or making it a reality?

I know exactly what I write about because I came from that place myself. I had arrived at the crossroads where a decision had to be made. Should I stay and work for someone who will benefit from my productivity? Or should I be channeling my abilities for my benefit?

I will not lie to you and say I went into a career in entrepreneurship head-on without fear or second thoughts. The fears and doubts were very real.

Many days and nights I would find myself questioning the validity of my decision to pursue my path. I had relinquished the security of my regular paycheck and had a family to take care of.

But rather than have these fears and doubts overcome me, I used them as motivational tools to enhance my drive and focus to succeed.

It’s like walking on a tightrope high above Snake Canyon without a safety net below. You can only look forward and take sure-footed steps on the tightrope.

When the gusts pick up, you stop and gather yourself; find your balance, catch your breath then resume your journey one step at a time.

Today I find myself thankful for the decision I made.

Becoming an online entrepreneur changed my life for the better. In no time at all my online business generated more money in one month than I did in one year working a regular 9-to-5 office job. I was able to support my family; send my siblings to school, put food on the table, build our house and set aside savings for emergencies and vacations.

I could see and feel where all my hard work was going. I was no longer defined by a fixed amount on a paycheck. My productivity finally equated to my income. Of course, business success does not follow a straight line. It can be unpredictable just like the weather.

There are bad months, and there are good months. But the bad months were always better than the best months at work. Do you know why? Because I was still able to accomplish and achieve more as an entrepreneur compared to my time as a regular employee; in the end, the product of my hard work would channel back to me.

What is the average paycheck of a regular employee? Let’s assume a regular employee makes Php 25,000 per month on 22 work days. At the end of the month, once taxes and over government-mandated benefits have been deducted, he would have approximately Php18,750 left over. Deduct day-to-day expenses such as transportation and food at Php300 per day; he would have net savings of Php12,150. If he saves 80% of that amount or Php 9,720, he would have Php 116,640 in one year.

What would you do if I told you that you could generate a greater amount than that in one month from your online business?

Assuming that our friend never gets a promotion and continues to follow that formula, it would take him 8.5 years to make his first million.

What would you think if I told you I made my first million in 3 months of running my online business?

I am thankful for the decision I made not just because it rewarded me financially. What I am most thankful for is that my experiences made me acknowledge the power all of us have to take control of our lives and chart the course of our destinies.

If you want to succeed in life, then you should stop dreaming and start doing.

If you want to become an online entrepreneur, then you must work to turn your internet dreams into reality. So the question is “How do you turn Internet dreams into reality?”

5 Steps on How to Turn Your Business Dreams into Reality

1. Identify Your Business Idea

We often find ourselves staring blankly at a computer monitor, a piece of paper, or even a napkin in a restaurant or coffee shop. We want to have a business, but we can’t seem to form an idea in our heads.

It only takes a second of inspiration to find an idea. You could be anywhere so you should be ready to capture the idea and write it down! Some people I know record their idea on their cell phones.

The challenge would be to transition the idea into a concept. Then, a working plan before you can turn it into a living, breathing business.

Sometimes one idea can open the floodgates for more business ideas. Let the ideas flow! Write them all down on paper or your computer. Evaluate these and through a process of elimination, come up with a shortlist of the five best business ideas.

You can research each business idea, but sometimes you may just have to rely on intuition or gut feeling. Why did these ideas come to you in the first place? There must be a connection with your subconscious for the source of inspiration to trigger the idea.

Pick out the idea that you believe you can launch with the least difficulty. It should be an idea that has its roots in your interests and hobbies. But you must be comfortable with it. The confidence will come in later.

2. Conduct Your Research

Learn as much as you can about the business and its industry. Go online and read up on all the relevant resource materials for your business idea. Watch videos, and visit websites that offer similar products and services.

Immerse yourself in the necessary information. Collect industry data and analyze the implication of those numbers to your business plan. Soak in the details and bring up your competency level.

Reach out to others who have experience managing a similar business. Invite them for coffee and get as many valuable insights as you can. Consult with people whose advice you can trust and depend on.

Attend seminars, entrepreneurial forums, and trade shows. Build a network of connections that can help you with your business idea.

At this point, the purpose of your research is simply to gain more knowledge about the business idea. It is not as formally structured, detailed, or organized as your Project Study.

3. Shore Up Your Skills

On a piece of paper, make two columns. On the left side write “Strengths” and on the right side write “Weaknesses.”

Perform an honest, sincere, and thorough introspection. I want you to analyze your strengths and weaknesses, and I want you to be 100% honest with yourself.

The purpose of this exercise is to do an accounting of your qualifications. The 2-columns represent the “T- Account” of your credentials. Once you have completed the list, arrange your weaknesses in order of importance; which one would you want to address first?

Running a business requires many skills. I have a friend who is a licensed architect. After two years of working for a reputable firm, he set out to start his architectural firm. Within two years, he closed it down even though he was able to land many projects.

I had to ask him why.

He said, “I wasn’t maximizing my earnings. I have no idea where the money went. But there was much less money in the company’s account than I had expected. I kept accepting projects; even small ones just to keep the company growing. I had too much work and nothing to show for it.”

He spent the next two years taking his Master in Business Administration at a prestigious school in Makati City. He eventually entered BPO and set up strategic partnerships with companies in the US to have their architectural blueprints done in the Philippines.

If you have a weakness, endeavor to turn it into a strength by working on it consistently.

So you want to run an online business? How is your competency in IT? Do you have a basic understanding of website development? If not, then spend some time learning it.

4. Read Up on Entrepreneurship

Entrepreneurs are probably the most important people in the world right now.

However, small businesses are doing something that big companies have so far failed to do: Grow the Economy!

Remember this key statistic: 98% of all businesses registered in the world are small businesses.

Thus, without small businesses where would, the economy get its stimuli? US President Barack Obama even acknowledged the importance of small businesses in light of so much uncertainty in the new millennium.

These small businesses are the handiwork of the entrepreneur. The tasks can be great and daunting, but the rewards will be worth it.
I touched on this earlier, but it is worth repeating that becoming an entrepreneur is not easy. There are days you will question your decision and wish you were back at the 9 to 5 grind.

For those who are becoming an entrepreneur for the first time, read up on the life stories of the world’s most iconic entrepreneurs. And you don’t have to reference Sir Richard Branson, Mark Zuckerberg, and Elon Musk. The Philippines is also home to many successful entrepreneurs who have very inspiring life stories. Who would have thought that a sidewalk vendor would one day own a huge company that manufactured fruit juices for export and became the CEO of his airline company?

That’s what happened to Alfredo Yao, President, and Founder of Zesto Philippines and Zest Airlines!

Then there was the boy who used to walk barefoot to school every day and eventually would grow up, found a company called Chips and Technologies, and sells it to Intel for $430 Million! That barefoot boy was Diosdado Banatao.

There are many inspiring stories of Filipino entrepreneurs that you can read up on. The purpose is to realize that anything is possible if you put your heart, mind, and soul to support your idea.

5. Get Everyone to Understand The Journey

The life of an entrepreneur does not only exact its toll on the entrepreneur but also on the people who matter most to him. Every day, decisions have to be made. Sometimes these decisions encroach on your life with those you love.

We like to believe that as an entrepreneur, you have complete control over your work hours. To a certain extent, that is correct. But that does not mean you will have fewer hours of work. It can even be longer than your former job as a 9-to-5 employee.

The truth is, even as an entrepreneur your hours can be long and punishing. The irony is, even when you work at home, you may end up having less time to spend with your family. Friends and relatives will have to learn how to adjust to your schedule.

I suggest that before you fully commit yourself to this journey get everyone to understand it first.

Paint the scenarios for them. Let them see how different your schedule would be. Then work with them to find a compromise solution. Get them involved with your life.

I remember a story shared by a friend of mine who quit his regular office job to focus on his online business. He said at first it was great to wake up later than usual and spend time with his kids. When he was still building his business, his daily schedule included making dinner for the family at 5:00 pm.

But when his business started to gain traction, he could no longer prepare dinner for his family. He even saw less of his kids because his work would end at 4:00 am and he would be awake at 10:00 am. His kids would already be in school.

He said it was tough but he talked with his family, and they understood. When he was certain he could scale up, he hired virtual assistants to handle part of his work so he could spend more time with his family.

If you want to make your Internet dreams a reality, you must prepare yourself physically, mentally, spiritually, and emotionally for the journey that lies ahead. It will be a very challenging one, but it will transform you forever.

Next Read: Modern Online Business Tools & Strategies