I thought I might share something that I recently responded to in a facebook post of what does it mean to work “on” your business for an hour a day.
As a new entrepreneur, one of the most critical things in your business is time management. Why is time management so important? We all have the same amount of time every day. Entrepreneurs must learn to split their time between their personal and professional life. They break it down even more between the many hats that they wear, being of service or operating their businesses.
If you ask any entrepreneur how much time they spend in building their business, most had to put in some very long hours to get to where they are today. When you are starting a business, you get to be the COE (Chief Of Everything) and the CEO. Your duties range from answering the phones, following up with leads, record keeping, marketing manager, IT person and much more. It can be overwhelming at times and knowing where to start is what holds people back from really becoming successful because they haven’t mastered the time management.
Here was my response to the question. In order to grow your business, you must consistently spend time “on” growing your business. That means out networking, following up with potential clients, sales conversations, finding groups to speak to, etc. and at least an hour every day as an existing entrepreneur. Of course, all of this depends upon what stage of business you are on; so it would be more if you’re just starting out. If you’re just starting a new business, there are many things that need to be put into place in order for you to be successful. The more solid you are in laying the ground work will generate stability, which will allow you to weather any obstacle that gets in the way of you building your business. The working “in” your business would be the actual working with clients, putting systems in place, developing marketing materials, record keeping, etc. Looking at how you divide that time is equally important. You need to maintain balance and spend time on things that are most beneficial to your business.
On the website, you will find valuable resources and if you’re still feeling overwhelmed, schedule an appointment and we can discuss your next best steps.