Did you know that 90% of startups, whether you’re a solo entrepreneur or a small business, will fail? Studies have shown that without the proper strategy in place, entrepreneurs don’t really stand achance of success. Think about that! Out of 10 entrepreneurs that enter the market, only 1 will find success. And by the time you realize your weak points it might already be too late! We see this every day in the market place… just look around you.

Did you know that the average founder’s salary is less than $55,000 a year and they work about 66 hours per week? That means that not only do you make less than you deserve, you also end up working insane hours.

Did you know that if you do succeed, you will have more money than you could ever have at a 9-5, the flexibility of being your own boss, control over decision making, a team you want to work with, and a legacy ? There are specific ways to to minimize your chances of failure… and even RADICALLY improve your odds of success to the point where it’s basically guaranteed. That means you can pursue a deeper meaning and build long lasting wealth from your passion.

This is not fantasy talk. This does not require a countless hours of courses, boatloads of money, or gimmicks. And, this works for anyone, male or female, and works at any age. 35, 45, 55, 65, 75… you name it. The concepts are exactly the same.

My years as CEO of accounting firm Independence By The Book have allowed me to peer into the secret routines of wealth building experts. Over the years, I have picked up SO many tips, tricks, and strategies that have allowed me to literally use my passion to create a long lasting sustainable business. That means my business thrives, fulfills, and creates more wealth than a 9-5 ever could.

I’ve taught these concepts to countless men and women over the years, and it always begins with these 3 key principles you must apply in order to STOP bleeding money, and make more while you work less.

That said, I have to warn you: What you are about to hear may sound baby simple or obvious yet it’s important that you do it. That’s because the world has, to be utterly frank, become lazy! Self help books, motivational speakers, business software all of these are just fine, but they won’t equal success on their own, and they certainly will never stop you from losing money while saving you time. No way!

These 3 steps reveal the things
you absolutely MUST AVOID if you want to make
more money, work less hours, and have a
deeper more fulfilling life.

What you need is a splash of cold water, a touch of reality, and the honest truth.
Sound good? Let’s dive in!

Step 1. STOP Your Emotional Purchases

Being an entrepreneur tends to bring on more challenges than your daily 9-5 grind, even though it’s well worth it in the end.

Let’s say you’ve having a bad day, so you go shopping to calm you down, it relieves stress and takes your mind off your problems. But you must realize that this is all temporary and will make matters worse in the long run.

Or perhaps you’re someone who likes to go out, have a few drinks to destress… only to wake up slightly more broke and more exhausted the next day.

One thing you’ll notice about the most successful entrepreneurs is that they’re frugal with their spending, no matter how rich they are.

I recall an episode of Shark Tank where Daymond John was visiting one of his entrepreneurs and this guy was LIVING LARGE. He had a big mansion, expensive cars, extravagant clothing, trips… you name it.

Daymond’s protege was really happy to show off his newly acquired toys and thought Daymond would be thrilled and impressed with it. However, this couldn’t be further from the truth.

After a bit, Daymond sat him down and started talking to him. He told him he was worried that he was spending too much money, and living a lifestyle that was not sustainable. He then went on to say that even after the success he’s been fortunate to have as a Shark, he’s still paranoid with his money and careful with it… he still fears that it could go away one day.

“If you’re not paranoid as an entrepreneur about your money, you’ll never make it.”

That stuck with me to this very day. And there are countless stories where I’ve seen people go from having a lot of money to having none simply because they were spending emotionally and recklessly. Don’t be one of those people.

So be careful with your money and don’t let your emotions get the best of you.

Step 2. START Tracking Your Spending

Now, it really doesn’t matter if you’re Jeff Bezos or a freelancer who is just starting out. You have to track your money and be aware of what you’re spending your money on. It’s essential that you create a budget and stick to that budget.

You might or might not know that Jeff Bezos is known for extreme attention to detail.  He’s said to even respond to customer emails about packages going missing because he understands that if they’re not delivering one package correctly, then there must be other packages that are also not being delivered correctly.

And of course he pays the same kind of attention to detail to his cash flow.

So don’t let small purchases go by the wayside either, these tend to add up really quick. If you feel that you’re paying too much for your cell phone, renegotiate that bill. If you feel that you could refinance your credit cards for a lower interest rate, then do it… now. The same goes for your student loans if you have any. And if you’re paying for any subscription services that you’re not really using, cancel them.

Don’t spend more money than you have to.

And remember, as you make more money, that doesn’t mean you should spend more or that you can start living more extravagantly. If Jeff Bezos, the richest man in the world, is still being cautious with his money, you should too.

Step 3. STOP Striving for Perfection

We’ve all done it. We strive for perfection and will accept nothing less of ourselves… even though we all know that perfection is impossible.

We hold ourselves to unrealistic standards usually because we compare ourselves with people that are where we would like to be. But remember, they didn’t get there in 1 day or 2 or 3. It is a journey that they had to go through and they have worked hard to get there.

And always remember that perfection is the enemy of progress. It is infinitely more important that you take action as opposed to trying to achieve perfection. The important thing is that you do it.

And don’t get me wrong, it is perfectly normal to strive for perfection, you wouldn’t be an entrepreneur if you didn’t have that in you… we want to be our best selves. Yet don’t let it take control over you and don’t let it paralyze your progress. You have to know when your work is good enough and accept it for what it is. Besides it’s better to fail fast and get the necessary feedback to improve your work than to attempt to put out a masterpiece that will probably fail in the end… consuming your time, energy, money and spirit.

Simply begin with these simple steps that you can take today to regain control of your money.