Why did you want your own business?
There are many reasons that people choose to start a business, but being an entrepreneur isn't easy. It is vital to know your "why", otherwise when it gets tough, you may lose sight of why your started on this journey in the first place.
Entrepreneur.com names 6 Genuine Reasons Why People Become Entrepreneurs (https://www.entrepreneur.com/article/251838) To summarize:
Their creativity doesn't fit the corporate environment
They want a lifestyle that isn't bound to nine to five
They're passionate about learning
Their ideas are unconventional
They want to do things
They want to change the world
While this article is from 2015, not much has changed from this list. In light of recent events, I want to dissect #2 and talk about the pros and cons of this point. It is true that many people become self-employed because they want fewer restrictions on their time imposed by others.
I have worked with countless entrepreneurs who allow their customers, clients, vendors, and employees control their time, thus losing this advantage of self-employment. Even if you own your own business, you must develop boundaries. If you do not, it is inevitable that you will lose sight of why you started your business and will suffer negative effects.
An example: A business owner opens a fitness center because he wants to help people, support his family, and give back to his community. Five years later he is spending 60 hours/week at the fitness center. He is constantly covering for his employee not showing up for shifts or personal training clients. He does not see his family much and has stopped volunteering in his community because he is exhausted when he is "off". If this sounds familiar, I am here to tell you that there are better ways to do things. Here are some suggestions on how to manage the above benefits of self-employment:
Creativity - Schedule time on a very regular basis for brainstorming or engaging in activities that feed your creativity. Work with a business consultant to help you create efficiencies so you can continue to be creative.
Create a schedule and honor it. Honor it for yourself, and your staff. Expect the same of your employees and create consequences for employees who do not comply. Reward your dependable, hard workers.
You can always be passionate about learning, no matter where you work or who you work with/for. Focus on implementing what you learn. Constant learning is great, if it is applied.
Out-of-the-box thinking is what pushes the world forward, but we can't do everything at once. Create a strategy to attack projects in a logical, efficient manner.
Set your values and priorities and live by them, in your business and personal life. If you designed a widget that makes the world a better place, then all of your activities should support your ability to get that widget out there to the public.
Changing the world is a big task. Eat the elephant one bite at a time. Make an impact every day, but don't try to do it all in one day. Changing the world is a long fight, so you need to plan for endurance rather than a sprint toward exhaustion.
These are the big tips for today! Need help in managing your dream? Contact us for a free 30-minute consultation, today.