7 Steps To Multiply Time and Profits Without Burning Out
When you hear the word entrepreneur, your first thought might be Richard Branson, Jeff Bezos, Daymond John or Susie Ma. Here are some of their keys to success in business you can use, right now.
1. Set Your Business Goals.
Are you 100% clear on what your business goals are? Consider having a self-improvement goal as part of your business goals. Self-improvement will strengthen the other areas of your goal setting.
Get a mentor or a coach who has the experience in the areas of self-confidence, self-esteem or creating a new mindset around achieving success in business.
You need to set income goals and keep track of everything. The most basic thing is having monthly, quarterly and annual income goals. If you want to be a high functioning, successful entrepreneur, think about tracking everything daily in a special spreadsheet. You could have a daily income goal and keep track of every dollar that comes in and what you spend on your business daily.
Stop your internal negative dialogue. When you have lofty business goals, sometimes you end up talking yourself out of something that if you stuck to it…would be ultimately successful.
2. Define what are the tasks that will help you achieve those goals.
When you have a business idea and want to either start it or add it to your existing business…you need to define your tasks.
Who will help you? Do you have a team already that has the skills to get the new business up and running, then turn it into profit? What exactly is the business? Make a business plan. Add mind maps. Where will you conduct this business? Decide if you have enough space. Do you need to upgrade? How long will it take to get this business off the ground?
Everyone needs a plan. And the entrepreneur always creates the best plan while putting together an amazing team. It is a case of knowing the strengths and weaknesses of the team members. With that knowledge, you can decide the best person for a task, set the deadlines, the goals and of course the rewards.
There should be an action plan with clear time frames, deadlines and who should complete those tasks. With technology today, project management tools help keep everything on track.
As an entrepreneur it is essential that you eliminate distractions. One of the best things that you can do for yourself, is hire a personal assistant. A quality you want to look for, is the ability for them to say, “No,” in a firm polite way.
Personal assistants can either advise people that you won’t attend a meeting or go and represent you. Virtual assistants are now available. You can hire a company that has a team of VA’s to take over all the requests you get.
Filtering meeting requests is another way to stop the interruptions. Find out ahead of time what the meeting entails and the sort of questions they need answered. After this you can decide if it is an absolutely necessity for you to be there. You can say no or decide which team member is best suited to take your place.
As an entrepreneur you may want to adopt the mindset of some the top in the field. Eliminate distractions, useless and long meetings. Say no to disruptions and useless tasks or time wasters.
Use software and tools for tasks that can be automated, saving you a lot of time and money.
Any task that does need your unique skills or added value should be delegated. Value your own time and you will see that outsourcing or having a virtual assistant is extremely cheap compared to executing certain tasks on your own.
As an entrepreneur, failure to delegate may mean the end of your business. In the successful entrepreneurs mind, there is a small compartment that understand micromanaging employees equals failure.
Understand that you need to be working on funding and promotions, instead of daily bookkeeping. Daily bookkeeping is a necessity. Every penny in and out must be accounted for but that is not the best use of your time. Hiring a virtual assistant is very easy these days. Always focus on the big picture.
Focus on the tasks that will help you achieve your business goals and that require your unique added value. Without being able to focus on what is truly important, you will self-sabotage your future.
All entrepreneurs start with some sort of a business plan. They might have a simple one that they put together but if they are practising focus, then they have a skilled writer put that together.
The entrepreneurs main focus here is to get funding. How can they mess this up? By allowing their minds to take over and start playing an internal negative dialogue.
Before any entrepreneur heads off to a group or a bank, they need to be crystal clear in their mind about what they want and when they want it.
Hesitation or anxiety over being turned down for funding, can derail you. Focus instead on the merits of your business and your abilities to make your venture successful. Bankers can smell fear a mile away. Have a clear vision in your mind as you walk through that door.
Since your business plan is complete, you need to focus on the tasks at hand. Write out clear goals in a 90-day framework and then break them down into smaller time chunks. What are you going to focus on in the first 30 days?
Laser like focus can only be achieved if your physical and mental health is at peak. You need to eat properly throughout the day.
Stay hydrated and eat a lot of fruit. Of course, you need to exercise to reduce stress and clear your mind.
Getting the proper amount of sleep is paramount to great focus. In order to sleep well, clear your mind of all negative thoughts and do some affirmations before bedtime, that will empower you. Your brain will work on these powerful affirmations while you sleep, so that you wake up refreshed.
Have a cold shower when you wake up at 6:00 a.m. or earlier. This will help you to get focused on the day and you can do some deep breathing exercises before getting dressed.
Successful entrepreneurs take Brian Tracy’s book, “Eat that frog,” as gospel truth. In that regard, many of them tackle the biggest, hardest task first thing. They come at it with laser focus and complete it.
Doing this, sets up their entire day because they WON, first thing in the morning. Their mindset is this, 'that is crossed off. I am unstoppable'.
Here is a cool concept used by some entrepreneurs. It’s a ranking of numbers. They focus on a task and they have a timeframe that they work from. It could be five minutes or ten minutes.
Basically, they ask themselves, 'will this matter in 5 minutes, 5 hours, 5 weeks, 5 months or 5 years?'. If the answer is yes, then that task is very important and they focus on doing everything required to complete that task.
You as a business owner can completely lose focus if you concern yourself about the competition. It’s important to focus on your business because you have no control over what the others are doing.
Take the time to develop a laser like focus on your tasks and ultimately your business. The rewards will be more than worth it.