Get All Access for $5/mo

The 5 Elements of All 6-Figure Earners Successful people have a vision for their lives and an unblinking focus on what needs to be done right now.

By Peter Voogd Edited by Dan Bova

Opinions expressed by Entrepreneur contributors are their own.

Shutterstock

It's easy to identify what differentiates the "mediocre" entrepreneurs from the ultra-successful ones. But merely identifying these elements is not even half the battle. You must execute upon them!

If you have been following my work, you already know that I am super-tactical which is why I am going to give you five specific elements that you can immediately start using to clearly differentiate yourself from the "mediocre" to the ultra-successful entrepreneur.

With evolving technology and incredible competition, it's time for you to level up, stop making excuses, and start moving through life with a sense of urgency like you know you're capable of. Less talk, more action.

Your ability to change your business -- and your life for that matter -- begins in the mind. Once you are able to make that first mental shift in what you focus upon, you can start to take the necessary actions that will turn your dreams into reality. However, this is where most entrepreneurs fail. They learn what steps are necessary, mentally prepare to take those steps, but ultimately fail to take action.

Let's face it, life is a game and it is all about the way you play it. In order to play a successful game in the new economy, you need to do more than just master your mindset to become a 6-figure earner. It is now time for you to develop your brand new strategy that incorporates these 5 crucial elements to help you start taking the actions necessary to become a 6-figure earner.

1. Inspiring vision.

Create a vision so inspiring you can't stop thinking about it. In fact, make it so inspiring it keeps you wide awake at night. Keep your daily focus and thoughts on achieving this vision. Once you have truly sold yourself on your vision that is when the magic starts to happen.

Write down your goals by creating a specific plan inclusive of the exact dates each one will be achieved. To help you get started right this second, download my one-page productivity plan. Remember, your vision should resonate with your true passions and must be so compelling that it drives you to action each and every day. Once you have the this clear vision in mind, everything else will start falling in place naturally.

Related: The 10 Best New-Age Business Ideas You Haven't Heard About Yet

2. Sense of urgency.

Once you have your compelling vision, this should come naturally, but cannot be overstated -- do everything with a sense of urgency. From taking phone calls to making decisions to creating products and services, if it can be done today, get it done. Period.

Too many people wait on the sidelines to make a decision or make a move. What the hell are you waiting for? The time will never be just right.

Successful entrepreneurs are always thinking and doing actions that are two steps ahead of their competition. If you are not moving with urgency then you are already ten steps behind. Once you are there, the Holy Grail of entrepreneurship then becomes getting your team to act with this same sense of urgency. Get them on board your bullet train, not stopping or slowing down for anything or anyone, and mountains can truly be moved.

Related: The 15 Most Profitable Small-Business Industries

3. Multiple income streams.

You have your vision and your sense of urgency, now apply that to everything. Not just to your one big idea but to every idea you have. This is where the fun begins. I have to tell you that it is absolutely incredible the number of entrepreneurs I have met that have built not one but multiple successful businesses in less than 12 months and you can too.

I worked hard to build my own empire and continue to do so each and every day, which as a result, I have had the opportunity to generate multiple streams of income in a wide variety of different types of businesses: The GameChangers Academy, Young Entrepreneurial Lifestyle podcast, world-wide speaker and mentor, Young Ambition clothing line, author of best-selling books including 6 Months to 6 Figures and The Entrepreneurial Blueprint, contributor to numerous world-class publications, active real estate investor, and the streams go on.

Remember, the golden rule in business: "Cashflow is King". The average millionaire has seven different streams of income. How many do you have?

Related: 22 Qualities That Make a Great Leader

4. Produce with excellence.

Having multiple streams of income means that everything I do and put my name to is planned, well-thought-out, and executed with excellence. I refuse to associate my name with anything that is not going to add massive value to my ever-expanding tribe and is not 100 percent congruent with my own vision for my brand. This is why even the free content I make available to all of my loyal fans is produced with excellence and far exceeds the vast majority of paid-for-content put out by others. I make sure everything I do provides phenomenal value for those I impact, customers, and clients. You must do the same.

This dedication to excellence in everything that I do requires that both myself and my team makes every single minute count. There is a purpose for every task I undertake and a specific outcome for everything I do, both personally and professionally. Too many people put their name to mediocre and insanely useless material because it is easy. Don't do anything because it is easy. Pay attention to everything, you must be detailed oriented, and fiercely selective with what you choose to do and whom you choose to work with. Everything must be cloaked with excellence.

Related: 10 Bad Habits You Must Eliminate From Your Daily Routine

5. Right now matters.

If you have come this far, you are already ahead of the pack. Now it is time to finish off the competition and distance yourself from others and more importantly from the person you were yesterday. This is one statement I cannot reiterate enough and you must believe it when I tell you that right now matters.

You know how short life is, so do not waste your valuable time wallowing or hanging out with those that do. Focus on what you need to accomplish right now to achieve your vision, and make every single minute and each day matter. Track your progress and keep the wheels moving, in doing so mastery can be yours.

I challenge you to forget about the newest video video game, what sports game is on tonight, and what closet you were going to re-arrange, and start producing! If what you are going to do right now does not produce income then do not do it. If you are serious and committed to your success, your next hour, next day, next week, next month, next year, next decade will be focused on these five elements. Once you understand that right now matters, the rest becomes history. I want to help you cut your learning curve in half so I created a free video series on how to make your first $1,000 as an entrepreneur.

Peter Voogd

Leading Authority for Young Entrepreneurs

Peter Voogd is the author of the best selling book 6 Months to 6 Figures, as well as the founder of The Game Changers Academy. He's a leading authority on Gen y leadership who has trainedand inspired well over 4,500 entrepreneurs with his true story of going from dead broke to a six figure income within six months. His podcasts, videos, websites and social media reaches more than 200,000 people monthly.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Side Hustle

This 26-Year-Old's Side Hustle That 'Anybody Can Do' Grew to Earn $170,000 a Month. Here's What Happened When I Tested It.

Stephen Alvarez was working at a dental supply company and following his passion for cars on the side — then an Instagram ad changed everything.

Business News

Serena Williams Once Tried to Deposit a $1 Million Check at an ATM Drive-Thru: 'I Never Played for Money'

The tennis legend recently appeared on an episode of "Hot Ones" with Sean Evans.

Business News

Wells Fargo Analysts Tested 75 Bowls at Chipotle — and the Portion Sizes Were Wildly Inconsistent

Zachary Fadem and a team of analysts ordered the same bowl 75 times at eight different NYC restaurants.

Business News

Mark Zuckerberg Says an Upcoming Meta Product Left Testers 'Giddy'

Meta is almost ready to show this gadget to the public.

Business News

Over 10 Billion Passwords Have Been Exposed in the Largest Password Hack in History

The data is thought to have been collected over the past two decades.