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Home » The Famous Blog » The Business Mindset The First Law of Success

The Business Mindset The First Law of Success

October 21, 2010 - Last Modified: October 21, 2010 by Scott Lovingood

Business Mindset

I have spent  most of my life in the off line world of business.  Having worked with billion dollar business, multi million dollar business and most online business I think  have found the answer to why most people aren’t successful.  Now bear with me for a minute while I talk about something that won’t immediately make you money because it is very important to your future.

The mindset that you bring when you start any business is the most important factor that you have complete control over.  Creating a business online requires the same mindset that any business does.  It doesn’t magically change the laws of the universe just because you use an http or  dot com in your name and address.  The same rules apply on Main Street and on Dot Com avenue.

So what are these magically mystical rules you may ask?  Let’s walk through just a couple of them.

The first one may take a second to get.

The Law of Obviousness – Nothing happens until something happens.

Let that sink in for just a moment. In the real world we understand it right. You can sit an watch a basketball all day long but it won’t suddenly jump up and start bouncing. Something has to impact it.

My formal education is in engineering. One of the concepts that hit me very hard was inertia.  Most people think of inertia as the force that keeps us from moving. Yet in reality inertia is the force that keeps us in our current state.

A moving car has a ton of inertia. It wants to keep moving.  Friction with the ground, the moving parts, and even the air slow it down. Outside forces stop it.

Now a stopped car also has inertia. If you have ever been stuck in a ditch you know this all too well.  Trying to push a car out of ditch takes a ton of effort. Getting it started is the hard part.

That applies to business as well!

Earlier today I was on a forum where a member laid out a pretty detailed plan on how he built his business. Not a step by step blueprint by any means but an over all guideline that he has followed faithfully for 3 years to build his online business. It was obvious from his mindset that he was a business person using the internet as his medium.

Most of the people asking questions showed their mindset as well.  That of inertia.  Before getting started they wanted full details.  Specifics on every step.  Guarantees of success.  Push button wealth.

Have you seen products that claim to deliver those?  They usually come from huge launches with tons of affiliates.  Because people buy them…. and buy the next one… and buy the next one.  The issue is they don’t execute it.

Before you begin the journey to building a business using the internet, make sure you understand what you are getting in to.

It is a business!

Your effort, time, creativity and energy will make it what it is.

There is no push button success

You will have to do something. You will need to become proficient at a lot of things. Most of that comes through doing rather than talking.

To be in business you simply need a way to deliver value to someone. That’s how you generate a profit.

There are lots of different models you can use.  All of them can work.. but only if you work.

  • Writing one article is not article marketing.
  • Creating one Squidoo lens is not using Web 2.0 traffic techniques.
  • Posting twice in a forum won’t drive success to you.

Every business I have owned or worked with had one thing down pat.  They didn’t treat it like a hobby.

Start with the right mindset. If you want to see one of the coolest videos I have ever seen you can click on business motivation speech to see it.

It could be the best few minutes you have ever spent.  And at the fantastic cost of free 🙂

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Filed Under: Online Business

About Scott Lovingood

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As a small business owner, Scott has a unique perspective in using the web. Learn how to use the internet to develop and grow your business. You can learn more about Wealth Creation by clicking here. You can find out more about Scott Lovingood

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{ 37 Responses }

  1. Adwello says:
    I wish there was a push button to success though, don't you? I find success through careful research, being aware of what markets are buying and presenting them with a much better, more affordable "no brainer" solution than my competitors. However, the best business ideal is that we all work together as joint venture partners to give consumers the widest choice and best deals. It's time as a race of beings we quit being competitive and joined together to provide solutions for the common good, on every level! Then there will be clear push button solutions and personally, I don't think an easier life will do us any harm!
  2. Rae says:
    what an inspiration. I like this post. no push button to success.
  3. TJ McDowell says:
    I'm trying to remember where I read this concept, but I think a thought that goes right along with what you're saying is the philosophy of "do the next step in meeting your goal, and do it today". There are no overnight results, but you'll never get any closer to your goal if you fail to take the next step.
    • Scott Lovingood says:
      Exactly right. Most people know what is needed to be successful. They just aren't willing to pay the price of success. Taking the next step is critical to making progress. Doing it today means you keep inertia on your side.
  4. Mike says:
    This is the most motivational post I have read today, Scott, thank you very much! Mindset surely plays an important role in any business; it's the reason why people told me that I had to train my mindset to think like entrepreneur and rich people before I stepped into money game. I agree that there's absolutely no buttons for fast success. I have read quite number of guides where people advertise how you can make $1000 a day but those guides all require you to work really hard and know what you do, so I think before you start making money online, there's should be a guide that instruct all the basic points that a person should know. Do you think so?
    • Scott Lovingood says:
      To get started making money using the internet as your medium requires a basic foundation of knowledge. I find as a business coach, I spend a lot of my time going over the basics with people. Even things they have read about but don't actually get. The best thing I have seen is for people to find a good low cost business coach to help them develop their own understanding of things and implement them. I have thought about putting together a training course on the basics but what would you consider the basics? Everyone I know things of different things. For every group they want a different "basic" education. What would you think should be included in a basic education? I can cover a lot of it in future articles. Scott
      • Mike says:
        The newbie should be warned that there aren't any fast track to online success first and most famous entrepreneurs have to work really hard to get what they got nowadays. So getting the mindset right should be the first chapter in your e-course, Scott. When I started out my business, I lacked of everything. From business models to finding angel investors to fund my project and legal concerns. So I think if you can cover them all, that would be awesome. Of course, there's chance we can't get all of the questions answered in the first version of your e-course but I believe, gradually, when more and more people know about it, you will receive much more advices and questions. It's great to know you on FamousBloggers, Scott. Keep in touch with each other :)
  5. Rahul says:
    very important !! It is not different from any business , you just have to deal with the way you deal with other offline business !!! i share everything with you , experience always is the key and as you said , it is a business so creativity and motivation do matter !!!! :)
    • Scott Lovingood says:
      Creativity is one of the ways you can reduce the amount of work that is required to be successful. Develop a unique system that allows you to accomplish more every day and you can use creativity to be more efficient. I love to be MOMI. Maximum Output Minimum Input. Its the only way to leverage your time and energy.
  6. Chadrack says:
    Hi Scott, Must say you have written one of the most moving motivational article I've on any blog lately. I've always preached the fact that treating your online business with the mindset that you're in business as a quaranteed way to online success. Unfortunately many who come online for the "big money haul" have misconceptions about this. I specially love this line: "There are lots of different models you can use. All of them can work.. but only if you work." Thanks for reminding everyone of us again that the secret to online success is really in us!
    • Scott Lovingood says:
      Glad you enjoyed the article. Keep preaching that work is required. It is the only guarantee I know for success. Edison once said success is 1% inspiration and 99% perspiration.
  7. Isabel Rodrigues - Pro Blogger Journey says:
    Nice Post. It's so important to have a correct business mindset. If we have a negative aspect about our progress we will never succeed.
    • Scott Lovingood says:
      We have to believe something is possible to be able to achieve it. It is amazing when you see how times dropped on the mile run once the four minute mark was broken. Simply because their belief was changed. Business is the same way. If we believe we can achieve it then we will work until we do.
  8. satrap says:
    Scott, that is exactly why most people who try to make money online, fail! They keep buying the next shiny ebook or what have you, thinking this is going to make them rich over night. And that is why the "online money making" niche is so hot, because you can keep making ebooks and reports about actual ways to make money online with all the details and step by step guide and keep making money selling them to the same people over and over again. Because most people who buy them won't lift a figure and they will come back to buy your next and next and next... ebook as well. I know exactly what you are saying about online forums and detailed plans for making money. I see those kinds of thread a lot, and every time there are people who just keep asking this and that instead of doing something and figuring it out for themselves. It all comes down to TAKING ACTION!
    • Scott Lovingood says:
      One of the businesses I am involved with is a franchise. I am always amazed by people asking me how we succeed. We simply follow the formula that the franchiser gave us. It takes planning, effort and work. There is not secret Get Money Now Button. Even if you pay thousands for the information you may ignore it. That is why most people are better off not buying any products. They don't have a solid plan in place to take the information and execute it. For someone with a plan and a system in place, a $2,000 course that gives them one or two new things can add 10X that to the bottom line. To someone without that system in place they simply wasted $2,000.
  9. Ingrid Abboud says:
    This is an excellent post Scott, thank you for writing it! A good reminder indeed that only hard work, perseverance and the right frame of mind will get you to where you want to go. Love the basketball analogy as well as the whole inertia thing :). I'll admit to having sat waiting for things to come to me instead of going out there and getting them myself. It's all about having the right mindset. Coincidentally, one of my all time favorite quotes is also from a former NFL football coach called Tom Landry and it does somewhat touch base to the philosophy you've layed out here. "The quality of performance is in direct proportion to the commitment to excellence." A very refreshing and "rude awakening" piece. Nice! Cheers
    • Ingrid Abboud says:
      I knew I missed something in my first comment! That speech by Art Williams is brilliant. Absolutely brilliant! It could have lasted another hour and I'd still be listening :). Thanks for sharing it.
      • Scott Lovingood says:
        I grew up a Cowboys fan. Landry was an awesome coach. His commitment to excellence drove everyone around him to be better. I loved the speech by Art too. I think every business person should listen to it at least weekly. Glad you enjoyed the post.
  10. Dana says:
    Yeah, You are right. In my language, you can only success to sell if you do help not selling. :)
  11. Michele says:
    Awesome, awesome, awesome Scott! What a well thought out and inspirational article. Your analogy of inertia is spot on. Reminds me of my days when I studied physics. =) WE are the inertia, WE are the resistance! and if we can get past that with the right mindset than we can really set things in motion. But it takes practice... lots of it. And determination. Thanks again for sharing article and for the link...will be sure to check it out. =)
    • Scott Lovingood says:
      We can learn a lot from physics about business. The laws of business are just as real as the laws of physics. Glad you enjoyed the post.
  12. Murlu says:
    It's refreshing to hear someone remind us that it does take ACTUAL work to build a viable business - no get rich quick BS that so many people want to tout - sure, some may find success but the 99% of others won't and it only discourages them from trying to actually go after their goals. Be ready to take action all the time, be ready to fail and if you do, learn from it and start up again. Part of the entrepreneurial spirit is loving the PROCESS of creating a business - have fun while you're doing it but make sure you keep that business mindset so it's not just some hobby that takes up all your time.
    • Mike Pedersen says:
      Yes...making money in your underwear is LONG gone! Whether it's online or offline, it takes consistent action. Not just busy work, but action towards a goal, whether that be income or something else. Regards, Mike
      • Scott Lovingood says:
        Well you can work in your underwear. I hated wearing suits and ties when I was in industry. My favorite now is a t-shirt and short pants. I have found some days though I need the mental change of actually dressing up to keep my mind focused on my work. Our environment plays a huge role in how we achieve our goals.
    • Scott Lovingood says:
      I love the process of creating a business. That's one of the reasons I became a Business Coach to help others. I can only build so many businesses but I can help others build their dreams. Plus it helps them when someone keeps them accountable to their plans and goals. Nothing motivates me like knowing someone is going to be calling to say "Hey did you get this action step completed?"
  13. James says:
    I totally agree. Mindset is the one factor that most people I see in this business fail to achieve. You have to be willing to step outside of your comfort zone, and do the work it takes in order to achieve real success. I have seen people who have struggled for years and haven't achieved half of what I have, but I also see people in a few months achieving much more. The tactics and strategies don't matter as much as the mindset that you put behind the work that you are doing.
    • Scott Lovingood says:
      Mindset is the start. Action is next. Performance comes last. You create a MAP and then reach your goals. How much we achieve depends on a lot of factors but those three we can control. Having the right mindset, taking the right actions and consistently performing to our expectations.
  14. Rick LaPoint says:
    Hi Scott, Unfortunately, working hard is the hard part :-) I probably get 100 emails a day from guys that just can't sleep at night until I become as filthy rich as they are -- on "auto-pilot." Your post is refreshing! Rick
    • Scott Lovingood says:
      I have learned to create folders for all the “guru” emails. They are great as a learning tool to see what is being used today. I have met several of them. Most of them are honest hard working guys/girls. I think the problem begins when they start to believe their own press
  15. Mike Pedersen says:
    I can relate to this as I have made my living 100% online for the past 10 years. The mindset is huge. With all the so-called guru's littering the Internet, the newbies are spending their hard-earned money because the guru's have falsely given them hope, when deep down they know that 99% of these people will never make a dime. It's unfortunate but true. I really appreciated this post. What forum were you referring to, as I'd like to visit that thread you mentioned? Thanks, Mike
    • Scott Lovingood says:
      Just search for Warriorforum It should take you right there. Be careful though while many of the people there know what they are talking about, many just pretend too. Finding that exact thread will be tough. It is one of the most active forums I have been on and posts move quickly.
  16. binaryday says:
    I can not agree with you more. A big problem with most of us is that we want certain profit and unfortunately certain cashflow exists only in jobs. Even that is under threat now a days. Action orientation is one of the most basic requirements of success.
    • Scott Lovingood says:
      Cash flow is critical to any business and company. Developing a strong business can give you a more consistent cash flow than a job. Employment is not more secure than being in business for yourself. You just have more control over the business than you do a typical job.

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