Every entrepreneur knows that getting a business off the ground, even if it’s just a side hustle, is hard work. Time is limited and you often feel pulled in every different direction, as you bounce from being the founder and CEO to the head of marketing, sales, product and customer service. While running a small business will always be a tough gig, it’s also extremely rewarding, especially if you can learn how to work smarter, not harder. Here are five tips every entrepreneur needs to know.
1 Accept that your time is limited
Entrepreneurs are busy, but just like everyone else, they have a limited amount of time each day. No matter what stage of business you are in, you only have 24 hours. Many people walk around complaining about how much they have to do and wishing for more time in the day. If you can simply accept that your time is limited and your to-do list will never be done, you’ll be far happier and more productive in the long run. Focus on what’s important and make the most of the time you do have.
2 Outsource what you can
Many entrepreneurs struggle with the concept of outsourcing, but it can be a tremendous help to your business. Once you recognise that your time is limited, you need to start focussing on what’s most important. The little tasks that are taking up too much time? Outsource them. Whether it’s admin, marketing, design or social media, find amazing people who can help you take your business to the next level. Your time is valuable and you need to spend it looking after the most important aspects of your business.
3 Take time out to meditate
Often time spent worrying and feeling anxious about your business can have serious effects on your productivity. To combat the stress levels of being an entrepreneur, it’s worthwhile taking time to meditate every day. It may feel counterproductive when you’ve got a mountain of things to do, but setting aside a moment to breathe, rest, and collect your thoughts, could help to reduce stress, allowing you to make better business decisions.
4 Learn from the mistakes of others
If you’re a budding entrepreneur looking to dip your toes in the waters of small business, you need to start by learning from the mistakes of others. There’s no need to reinvent the wheel and if you can find out how others are doing business well (or not so well), and take their learnings, you’ll be jumping ahead of the game. This is where getting a business mentor or coach on board can be an incredible asset to your business.
5 Focus on your successes
When you’re just starting out, it can easy to get swept away by your emotions as you feel all the ups and downs of being a small business owner. But this rollercoaster can quickly become tiresome and effect your motivation and passion. In order to combat this cycle, it’s important to focus on your successes and celebrate your wins. Learn from your mistakes or failures but move on quickly. Every entrepreneur faces challenges but your ability to get up and keep going will determine your long-term success.