Work On Your Business Not In It

Many small business owners from web development to real estate investors struggle with the concept of working on their business as opposed to in it.  You are the ship’s captain, it’s your job to steer the ship not man the oars.  Yes, it is a terrible analogy but it works.  it’s your job to steer the ship not man the oars.  Yes, it is a terrible analogy but it works.  The idea here is scalability and growth, with the right organization in place you can manage to serve more clients. Check Out Reviewimo for more info

Here’s how you get started:

Daily Log:

Before you start anything you need to figure out exactly what you do.  For a solid week, choose a typical week, track your time in 15 minute increments.  This will be time consuming and tedious but it needs to be done.  Once you have completed the week take a look at the activities and break them down into what you need to do and what you can outsource.  Ask yourself these questions.

 

 

  1. Does this make me money right now?  These are things like sales and closing deals.
  2. Will this make me money later? This will be things like prospecting for new clients, or getting new inventory.
  3. Does this have nothing to do with making me money? Like too many small business owners you probably spend too much time on tasks like this.
  4. Can this be outsourced?
  5. Is there something else you should be doing instead?
  6. Are you Ranking on Google? If not look into some  Seo Services or digital Marketing
  7. Make sure your social media and other digital Properties line up with your marketing plan

The things that will make you money are important but this is still working in your business and not on it.  Without closing deals you will have no business, but at the same time you need to work on tasks that grow your business.  Oftentimes things that grow your business get set aside for the things that need your attention right now.

Delegate:

This is harder for most people than it should be, there’s a lot of fear involved and the idea that you could do the task better than someone else.  The idea of paying someone for tasks you are perfectly capable of doing goes against the grain.  You need to realize that in the long run this is costing you money, you can’t afford to not hire help. For example maybe you need hr consultant calgary instead of trying to do HR your self?

Start off small with getting someone to take care of administrative tasks, accounting and book keeping.  Move on to getting someone to look after more important tasks sales and customer service, until eventually you can save your focus for growing your business.  You need to work on the things your good and make you money, and outsource the rest.  To handle the work you want outsourced you can hire someone locally or make use of a virtual assistant.  Websites like UpWork or Freelancer can help you find a virtual assistant.

Organize

Once you have free time to start working on growing your business, it’s time to start setting aside blocks of time to do just that.  Put together a list of the things you want to do to grow and set yourself some deadlines.  These are things like work on your marketing plans, business plans, incentive programs and projected sales growth.  Giving yourself time and deadlines will encourage progress.  It won’t take long before you see measurable results.

Millennials Aren't Becoming Entreprenuers

5 Reasons Millennials Aren’t Becoming Entreprenuers

If you grew up as a middle class millennial this is probably a pretty familiar story to you; go to school and get a degree, find a job, save your money and then retire comfortably.  Middle class millennials struggle to adopt an entrepreneurial mindset when they have been conditioned their whole lives towards something else.  Perhaps it is time for millennials to reflect on what they were taught and look at pursuing other dreams.

Here are five “truths” that you have been raised to believe that are keeping you from chasing your entrepreneurial dreams and why you should ignore them.

  1. “Go to college so you can get a good job.” One of the problems with this mindset is that it focuses too much on getting a job.  No thought to creating your own opportunities or building a business, just work for someone else.  The other problem with this is that the only ones profiting are the colleges themselves, student debt is at an all time high while job creation stagnates.  Entrepreneurship is hardly focused on at all in schools.
  2. “Save your money.” There is nothing wrong with saving money and most people aren’t doing enough of it, however once you have money set aside to cover expenses it is time to make that money work for you.  Money is like any other asset, it depreciates everyday and hoarding it is based on fear and not sound financial planning.  You will never save your way to becoming wealthy, wealthy people understand that investing is crucial.  The middle class are often scared to use their money to make more.
  3. “Investing is too risky.” Compared to having your money sitting in a bank, yes investing is risky.  Take into consideration the person offering this advice – have they ever invested a dollar in their lives?  Don’t take financial advice from someone you’re not willing to trade bank accounts with.  Missing out on investment opportunities because of fear denies you the chance to live out your dreams.
  4. “Money isn’t everything.” It’s very much a middle class view that money won’t make you happy and there is some truth to that.  However, you can be assured that having no money will leave you very very unhappy.  Money doesn’t make you happy or sad but the truth is it does buy you some freedom and options and everyone wants those.  The other thing to consider is that most entrepreneurs aren’t in it for the money, it’s a nice by product of success but rarely the sole motivation.  The Richard Bransons and Elon Musks of the world are indeed very wealthy but both were more concerned with changing the world than they ever were about money.
  5. “Be realistic about your goals.” This is just a recipe for mediocrity.  Setting goals that are mildly challenging but yet obtainable keeps you from dream bigger and chasing goals that keep you awake at night.

If you want to be an entrepreneur it is time to get away from this type of mindset.  Find a mentor who is where you want to be and learn their philosophies and work ethic.  It’s important to decide who you want to take advice from, choose people you would trade places with.