Are you a freshly minted entrepreneur? Are you looking for ways to improve your business model or for ideas to strengthen your entrepreneurial skills? Starting and maintaining a business takes hours of hard work, and sometimes it can be challenging to find out how to measure the real secret to success. The following words of wisdom are for all entrepreneurs who need a little direction, or who need a little refresher when it comes to running a small business.
Be time conscious.
Instead of always focusing on the tasks that must be completed with urgency, give yourself a little time to focus on the tasks that are important and that you enjoy. As a general rule, many business owners try to work no more than 3,000 hours on community work and no more than 500 hours on other activities. It’s always important to make sure that you don’t become so enveloped with your business that you unknowingly allow your health to suffer. Being aware of your time and making sure that you balance your schedule is important for maintaining an optimal quality of life. It might help you to schedule specific times each day for strategic planning. Be sure to keep focused on the activities that are important to you and to your business. When possible, delegate tasks to assistants or employees.
Take time to give back to the local community.
Giving back to your community is a way to foster positive customer and public relations. Taking time to lend a hand in the community also feels good, and helps establish a healthy mindset. Entrepreneurs who give back to their communities report a higher sense of accomplishment, and a better feeling of self-worth. Some of the ideas that have worked well for them include: extending employment opportunities to local citizens, running consistent advertisements in the newspaper, and understanding when it’s appropriate to say no when solicited for donations. It might seem self evident, but it’s also important to step back and simply enjoy your business for what it is, and to remember those who helped you along the way.
Set goals and establish priorities.
When you are just starting out, it can be hard to think about having too much fun. Yet it is important for you to maintain a healthy outlook, and to remember that owing a business isn’t just grueling work. Try to set specific goals that have end dates. For example, maybe you’d like to increase your overall sales by thirty percent in the next year. Make sure that you include measurable goals. One example of a measurable goal is comparing your sales from this year to your sales of last year. Finally, make sure that your goals are attainable. There’s nothing worse than setting goals that are simply too ambitious for what you’re capable of achieving at a particular time. Be optimistic, yet be realistic, as well.