Time Management For Entrepreneurs

Time Management For Entrepreneurs : 7 Steps To Multiply Time and Profits

Time Management For Entrepreneurs

7 Steps To Multiply Time and Profits Without Burning Out 

  1. Set Your Business Goals.
  2. Define what are the tasks that will help you achieve those goals.
  3. That should be an action plan with clear timeframes, deadlines and who should complete those tasks. Use project management tools like Asana, Basecamp, or Trello.
  4. Eliminate distractions, useless and long meetings. Say no to disruptions and useless tasks or time wasters.
  5. Use software and tools for tasks that can be automated, saving you a lot of time and money.
  6. Any task that does need your unique skills or added value should be delegated. Value your own time, and you will see that outsourcing or having a virtual assistant is exceptionally cheap compared to executing specific tasks on your own.
  7. Focus on the tasks that will help you achieve your business goals and that require your unique added value.

Introduction:

When you hear the word entrepreneur, your first thought might be Richard Branson, Jeff Bezos, Daymond John or Susie Ma. These are high-level entrepreneurs that saw opportunities to solve problems and make a lot of money. They built capital, created products and services, which are unique and became very wealthy. The ideas in this report are some of the ways high-level entrepreneurs succeed. Have no doubts that if you are a new entrepreneur or even a solo business owner-putting these seven time management ideas to work…will advance your business to new levels. Some of the ideas can be incorporated immediately, while the others, such as the ones with software or apps…will require a bit of research and decision making.

  1. Set Your Business Goals.

-Are you 100% clear on what your business goals are? You need to get your new business off to a flying start. Or if you have been in business for awhile and there have been issues, it may be due to not seeing things, crystal clear. Consider having a self-improvement goal as part of your business goals. Self-improvement will strengthen the other areas of your goal setting. Get a mentor or a coach who has the experience in the areas of self-confidence, self-esteem or creating a new mindset around achieving success in business.

You need to set income goals and keep track of everything. The most basic thing is having monthly, quarterly and annual income goals. If you want to be a high functioning, successful entrepreneur, think about tracking everything daily in a spreadsheet. You could have a daily income goal and keep track of every dollar that comes in and what you spend on your business every day.

Stop your internal negative dialogue. When you have lofty business goals, sometimes you end up talking yourself out of something that if you stuck to it…would be ultimately successful. Hannibal saw the mountains and said, “we will either find a way or make one. Leading thousands of soldiers and elephants over a mountain range, Hannibal had an extremely positive mental image of himself.

Have a great idea for something that will make you $10K a month? If you start to balk, just take the first few actions and as you see success, put your foot on the accelerator and get up to speed. Internal negative dialogue or “stinky thinking” as it is also called, destroys dreams and ambition. You can overcome that and build a remarkable business.

  1. Define what are the tasks that will help you achieve those goals.

-When you have a business idea and want to either start it or add it to your existing business…you need to define your tasks. This is where you put on your strategic thinking hat and write out the who, what, where of what the tasks are.

  • Who will help you? Do you have a team already that has the skills to get the new business up and running, then turn it into profit?
  • What exactly is the business? Make a business plan. Add mind maps.
  • Where will you conduct this business? Decide if you have enough space. Do you need to upgrade?
  • How long will it take to get this business off the ground?

When you are a solo venture, the tasks will be slightly different. Let’s look at the example of someone who runs a social media business for a medium size start-up. Some of the tasks for this person to reach their goals might be:

  • Getting traffic to their website, to gain new clients.
  • Getting new testimonials constantly to show they are on top of their game.
  • Studying and trying new methods to gain followers for their customers.
  • Learning the best of copywriting to create excellent Twitter/Tumbler/Facebook posts for their customers.
  • Creating lists for different tasks and tracking everything from sales, expenses, cold calls for new business and new supplies for the home office.

Writing out the tasks and adding time to complete dates will help save time and achieve your goals. 

  1. There should be an action plan with clear time frames, deadlines and who should complete those tasks. Use project management tools like Asana, Basecamp or Trello.

-Everyone needs a plan. And the entrepreneur always creates the best method, while putting together a fantastic team. It is a case of knowing the strengths and weaknesses of the team members. With that knowledge, you can decide the best person for a task, set the deadlines, the goals and of course the rewards. With technology today, project management tools help the entrepreneur keep everything on track. Let’s look at three excellent tools now.

  1. A) Asana allows you to assign projects and then see on the righthand side of the app, who has the project and what stage they are currently in, such as just started or completed. You can chart your course for smooth sailing through the entire project. In Asana, there is a feature called, “Timeline,” where you can see the flow of work and where it is being passed to the next team member for their actions. There are over 100 items you can integrate into Asana, such as emails and all pertinent files.
  2. B) Basecamp works in the same way and has features to remind people when a task is overdue. One thing that bogs any business down is endless meetings. With Basecamp, it eliminates the need for time-wasting meetings as everyone on the team can log-in and see where the project is at. Basecamp states that 59% of meetings have been cut out by its users. Basecamp is simple to use, and there is no steep learning curve so that anyone can jump right in. Basecamp is great for multiple projects since you can pull them up all onto one screen and see the status.

Cut down on the number of apps you generally used in projects, because in Basecamp, all notifications are in one spot.

  1. C) Trello works on a board system, where all aspects of your projects are listed on individual cards that you can glance at. You can view a card like, “research,” and jump in with a comment or attach a file that will assist in the research end of the project. If your team is already using apps, you can incorporate those right into the Trello card to maximize productivity.

Check out the apps that you feel will power your business by clicking the link below:

https://asana.com/

https://basecamp.com/

https://trello.com/

Time Management For Entrepreneurs

Time Management For Entrepreneurs

  1. Eliminate distractions, useless and long meetings. Say no to disruptions and useless tasks or time wasters.

-As an entrepreneur, it is essential that you eliminate distractions. One of the best things that you can do for yourself is to hire a personal assistant. A quality you want to look for is the ability for them to say, “No,” in a firm, polite way. Personal assistants can either advise people that you won’t attend a meeting or go and represent you.

Virtual assistants are now available. You can hire a company that has a team of VA’s to take over all the requests you get.

Filtering meeting requests is another way to stop the interruptions. Find out ahead of time what the meeting entails and the sort of questions they need to be answered. After this you can decide if it is an absolute necessity for you to be there. You can say no or decide which team member is best suited to take your place.

As a solopreneur/entrepreneur, you may want to adopt the mindset of some the top in the field. There are entrepreneurs that assign weights to requests and possible time wasters. If a request isn’t hitting an 8 out of 10 on the scale, just say no. Or if you get a request for a meeting or a proposal and you don’t do a mental backflip of joy…it’s just a no-go situation.

  1. Use software and tools for tasks that can be automated, saving you a lot of time and money.

There are many cool tools and software available for entrepreneurs. Next up we will look at a few of the best for small companies and the large groups.

  1. Hootsuite is perfect for the solo business or owner or even those with a small number of employees. If you don’t have the budget to hire a social media expert, then check out Hootsuite. When you are manually posting to social media, it is difficult to measure your ROI. Hootsuite makes that a breeze by giving you graphs to check and see what your results are. This is important because Hootsuite can post to 35 social media platforms. You will quickly be able to see which performs the best…Facebook or Twitter.

You can see who is talking about what and then target your keywords to those conversations. Don’t forget the proper number of hashtags. Some social media sites will give you a lot more traffic if you use ten plus hashtags.

Pre-load hundreds of social media content pieces and your team can curate your content over all those social media platforms.

  1. Infusionsoft is a great tool for entrepreneurs that need a direct connection to their customers. If your product produces multiple sales, this is perfect. Infusionsoft has a great landing page, where your customers get the information they need. Next, you can personalize all the contact that you have with the customer. This includes not only your emails but your advertising as well, so that cuts down on repetitive tasks for you.

The landing page builder comes standard with your Infusionsoft account, and it loads in warp time, so that means happy customers and more sales.

  1. Due is the next wave of accounting and payment processing. You can bill your customers and keep track of what accounts have been paid and what is outstanding. Sending and receiving money is a snap with their secure system. Due has a number of ways to be paid and send money, however, their fastest method is called Digital Wallet. You can instantly pay and be paid with Digital Wallet. It a wonderful system for a small company or even freelancers who need to get paid quickly. Digital wallet cuts down on time waiting and this is a time management tool you want to explore.
  2. Does your business use WordPress? Blogs are great tools for public relations, building brand awareness and even selling products from. Spokal advises that it can significantly increase your social media traffic.

You can import content from RSS feeds, Twitter and of course create your own unique content. Like Hootesuite, you can schedule the amount of times you want the content to be delivered and how often.

Twitter users frequently miss your content. While you cannot post content with links twice to the same twitter account in one day, you can use Spokal to deliver the message at a different time and day, to get those folks you missed.

After you have uploaded some great content, it is time for Spokal to do its magic. It watches to see what the engagement is for all your posts and then schedules more of the same type of content. It’s like, “oh it appears you love Coke. Well here is another one, and another one.”

You need to fill your library with some great content so that Spokal will have lots to choose from. It will also watch your blog posts and re-generate old ones that were getting traffic so that you can get all the juice you can out of it.

Check out these great tools below:

https://hootsuite.com/

https://www.infusionsoft.com/

https://due.com/

https://www.getspokal.com/

  1. Any task that does need your unique skills or added value should be delegated. Value your own time and you will see that outsourcing or having a virtual assistant is extremely cheap compared to executing certain tasks on your own.

-As an entrepreneur, failure to delegate may mean the end of your business. No one wants to start over again, especially due to a simple mistake. In the successful entrepreneur's mind, there is a small compartment that understands micromanaging employees equals failure.

Understand that if you have developed a new coffee cup that keeps liquids hotter longer than any other brand, you need to be working on funding and promotions, instead of daily bookkeeping. Daily bookkeeping is a necessity. Every penny in and out must be accounted for, but that is not the best use of your time.

Hiring a virtual assistant is very easy these days. What should you farm out to the VA? Well, you need a team to be successful from day one. You need:

  • A bookkeeping person.
  • An accountant for the major stuff, so that you don’t get penalized at tax time.
  • Most likely a printer that can do all your brochures business cards and the like.
  • Someone to do all your P.R. or write your press releases.
  • If you need more than a press release, then perhaps a freelance copywriter and even a freelance graphic designer.

With a team, even a small one to start and then to grow, a virtual assistant or a personal assistant by your side, can manage and direct that team, while you focus on the big picture.

  1. Focus on the tasks that will help you achieve your business goals and that request your unique added value.

-Finally, we come down to an absolute must for any entrepreneur. This also applies to freelancers or the general public. Focus! Without being able to focus on what is truly important, you will self-sabotage your future. Let’s get busy and talk about ultimate focus for entrepreneurs.

Have you ever heard the term, “well he or she is not the sharpest knife in the drawer.” That certainly does not and will not apply to you. You are already sharp; now you just have to hone that sharp focus. Some call it laser focus due to the cutting ability of a laser.

All entrepreneurs start with some sort of a business plan. They might have a simple one that they put together but if they are practicing focus, then they have a skilled writer put that together. The entrepreneur's main focus here is to get funding. How can they mess this up? By allowing their minds to take over and start playing an internal negative dialogue.

Before any entrepreneur heads off to a group or a bank, they need to be crystal clear in their mind about what they want and when they want it.

Hesitation or anxiety over being turned down for funding can derail you. Focus instead on the merits of your business and your abilities to make your venture successful. Bankers can smell fear a mile away. Have a clear vision in your mind as you walk through that door.

Since your business plan is complete, you need to focus on the tasks at hand. Write out clear goals in a 90-day framework and then break them down into smaller time chunks. What are you going to focus on in the first 30 days?

Laser-like focus can only be achieved if your physical and mental health is at peak. You need to eat properly throughout the day. Stay hydrated and eat a lot of fruit. Of course, you need to exercise to reduce stress and clear your mind.

Getting the proper amount of sleep is paramount to great focus. To sleep well, clear your mind of all negative thoughts and do some affirmations before bedtime, that will empower you. Your brain will work on these powerful affirmations while you sleep so that you wakeup refreshed.

Have a cold shower when you wake up at 6:00 a.m. or earlier. This will help you to get focused on the day and you can do some deep breathing exercises before getting dressed.

Successful entrepreneurs take Brian Tracy’s book, “Eat that frog,” as gospel truth. In that regard, many of them tackle the biggest, hardest task first thing. They come at it with laser focus and complete it. Doing this sets up their entire day because they WON, first thing in the morning. Their mindset is this, “that is crossed off. I am unstoppable.”

Here is a cool concept used by some entrepreneurs. It’s a ranking of numbers.

They focus on a task and they have a timeframe that they work from. It could be five minutes or ten minutes. They ask themselves, “will this matter in 5 minutes, 5 hours, five weeks, five months or 5 years. If the answer is yes, then that task is critical, and they focus on doing everything required to complete that task.

You as a business owner can completely lose focus if you concern yourself about the competition. It’s important to focus on your business because you have no control over what the others are doing.

When you think of an elite racer for the 100- hundred yard dash, they are intensely focused. However, they have tunnel vision because they stare straight down the track to the finish line. In their minds, they are not thinking about the folks in the next lane. They are preparing their breathing, visualizing running the perfect race.

Take the time to develop a laser-like focus on your tasks and ultimately your business. The rewards will more than worth it.

You now have seven of the best Time Management for Entrepreneurs right in front of you. Master these seven and then explore the rest.

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