Assuming that tomorrow will be great is one of the biggest mistakes you can make as an entrepreneur. I have learnt at a very young age just how quickly good times can turn bad: complacency is the number 1 killer in business!
As an entrepreneur you always need to be prepared to give 100%, and then more, even when the going is good. You need to consistently work harder and smarter than you ever thought you could.
So what does it take to succeed?
1. Clear and specific objectives
You need to have clear and simple objectives and the more specific they are the better it is for the business. Without very clear achievable objectives you could quickly veer of course, in addition they provide a roadmap that will propel you and your staff forward.
Your objectives should include targets, revenue, budgets, profits and so on. In your projections always overestimate your costs and have a revenue and profit figure you know you need to drive towards.
Make sure your staff are clear on your objectives and the reasons why. If they buy into it, then your whole company is pulling in the same direction.
If you get your key staff to help come up with the strategies, they naturally become spokesmen for the company culture to drive these strategies forward.
Related: Goal Setting Guide
2. Apply the pressure daily
Every day you need to focus on achieving these objectives and the targets you set, if you do so you will avoid the last minute scramble. Remember: “you go home when the job is done”.
Most people are quite happy to push tasks and projects off until tomorrow; this can quickly roll into your monthly sales and collections.
This is what I mean: “I missed target this month, but don’t worry we will catch it up next month”. Why would it be possible to exceed the target next month but miss it this month? In my experience it’s usually not!
People are inherently lazy and will look for reasons to put things off. Now this may not only be your staff but your customers too. So if you are applying the pressure daily you are more likely to succeed.
3. Drive your business like it’s a matter of life or death
I don’t care how much money you have in the bank, you always need to drive your business like it’s a matter of life or death.
Run your business lean wherever possible, every last cent wasted is directly out of your pocket. If you had to pay cash for everything again, you will realise just how hard it is to give away.
Keep your eye on the best and worst performing products and staff in your business. It’s important to be proactive and adjust or give guidance but sometimes it also means making the hard decisions.
Anything or anyone not generating profits in some way or another is stealing money off your bottom line.
5. Tackle things head on
Being shrewd in business means never sticking your head in the sand, tackle things head on and tick them off. The longer problems linger the more it costs you.
6. Grow your management structure
You need to keep growing your people and most importantly your management structure. If you can manage a small group of effective people, then you can be more strategic in growing your business. It’s also sometimes difficult to see the wood for the trees when you are so operational and too close to the problems.
7. Check in
Take a step back every quarter and realign your strategies. Always keep your eye on the market and competition; never allow yourself and your business to become irrelevant. If you have a great product/ service with a clear value proposition, then you will always have a platform to sell off.
6 Steps To Go From Procrastinating To Productive
As an entrepreneur, practice saying to yourself, “I will not do the work of my smart, very talented and motivated team.”
As entrepreneurs and business owners, we have tasks on our list that we’d rather not do. So, we keep moving the goal post farther down the field and do almost anything we can to avoid those distasteful jobs.
Personally, I don’t like to get involved in extra paperwork or monthly expense reports. Other founders have their own least favorite activities.
But this isn’t necessarily a bad thing because there’s an obvious solution: delegation. As a matter of fact, I created a motto along these lines: I will not do the work of my smart, very talented and motivated team.
My job, after all, is to concentrate on the bigger parts of the business, like generating revenue. And while there are other such tasks that are necessary to operating a business, I might be avoiding them too because they slow me down. So, I again delegate them to the team.
I guess in a way, we’re all capable of being procrastinators.
According to a 2013 survey by salary.com, 69 percent of survey respondents said they wasted time at work on a daily basis – a 5 percent increase from the previous year. Thirty-four percent of respondents estimated they routinely wasted 30 minutes or less each day; 24 percent said they wasted between 30 and 60 minutes; and 11 percent said they wasted hours every day.
As a business owner, I could see how those numbers might send my fellow owners’ blood pressure through the roof, but my own response would be more practical: I’d pursue tools, tricks and techniques to minimise procrastination and maximize productivity.
Here are a few of those techniques:
Don’t overwhelm yourself
It’s easy to become overwhelmed by the sheer amount of work on your plate, meetings and deadlines. Lately, I’ve been focusing on launching new avenues for C-Suite TV, and it can be overwhelming sometimes.
When tasks seem insurmountable, here’s one way to lessen that burden: Get out your “to-do” list. Then, instead of writing down that big task as one huge thing, break it down. Breaking a big task into multiple line items makes it more manageable. You have your end goal, but by reducing it to its smaller components, you get a clearer picture of what you need to do.
Crossing off the smaller parts of the larger task gives you a sense of accomplishment you wouldn’t have if you tackled the massive task all at once.
Flip the script
I don’t care who you are: Whether you’re a worker, a manager or a CEO, you’re just like everyone – and we all hate doing certain tasks. So why not flip the script?
Bite the bullet, kiss the frog – whatever you want to call it: Put that task at the top of your to-do list that day. You’ll eliminate the task quickly and move on to the rest of your day. Not to mention, you’ll have a bigger sense of accomplishment knowing that you’ve steam-rolled the largest obstacle you had awaiting you.
Everyone wants to make a good impression and put his or her best foot forward at work. Procrastination comes not from the inability to get the job done, but from fear and insecurity. Being unsure how to perform a specific task makes us fear failure and being seen in a negative light by the boss.
I always tell my team that, “No one’s going to die.” What’s the worst thing that can happen if a specific task isn’t perfect? I might get mad if the task is not completed within the given deadline, but not if it merely needs to be tweaked. Many times, the worst conversations happen inside our own heads and we let that imaginary conversation rule our other decisions. That’s when we make mistakes.
If you’re worried about your work quality, allocate a set amount of time each day to complete (or revise) parts of the project. It’s possible to perfect a task without obsessing over it and losing focus. That’s when you know it’s time to let go of the project and focus on other things. Say it with me: No one will die.
Kill the squirrels (or distractions)
It’s easy to procrastinate with the million distractions we have every day. According to a survey by Stop Procrastinating, 68 percent of Americans surveyed said they’d been distracted from their work duties by checking their emails, browsing the web or engaging in social media. And that was a 9 percent increase from a year before. Of that 68 percent, 39 percent said distractions cost them a whole hour a day.
Sure, it’s tempting to constantly check your Facebook or Twitter feeds, but here’s a radical concept: Log out of your social media accounts for a few hours every day.
Instead, focus on your tasks and nothing else. Do whatever it takes to get into the “zone,” to accomplish your goal. Some people at my office use headphones to muffle outside noise. I block out time on my calendar, which my employees have access to, and dedicate that time to a specific task I need to accomplish. I may even specify “no phone calls” to ensure I stay in my zone.
Be a good time manager
To transition from procrastinator to proactive leader requires organization on your part, from your mindset to your schedule. It’s hard to be organized when you feel you’re juggling multiple things, but to succeed, you must learn to juggle. Deciding how much time to dedicate to each task makes you more efficient.
For some of us busy executives, even our down time needs to be scheduled.
Recently, I attended the Rocky Mountain Economic Summit, where I mingled with top economists, business leaders and policymakers. I had a busy schedule, interviewing a top CEO. But I also managed to schedule down time. Being from South Dakota, I enjoy the outdoors so I scheduled some fly fishing time – away from technology, emails and phone calls.
If you’re a good time manager, you’ll have time for everything, including play time. It takes some dedication and discipline, but it’s not impossible.
Remember that the early bird gets the worm
I operate on little sleep. As any workaholic will tell you, when you go to bed at night, you can’t wait to start your day the next morning. Indeed, dawn is the most productive part of the day, according to this Wall Street Journal article. That hour of the morning brings minimal distractions, no email and hardly anyone on social media.
Apple CEO Tim Cook, starts his day at 3:45 a.m.. Richard Branson likes to “sleep in” until 5 a.m., and even my friend and fellow entrepreneur Peter Shankman gets up before it’s light out. As a business owner, entrepreneur and keynote speaker, I’ve done my fair share of early mornings; You’d be surprised how much you can get done by the time everyone else walks in the office.
The one takeaway here is that in order to make a successful transition from procrastinating to productive, you have to be disciplined, motivated and focused: disciplined enough to curb distractions, motivated enough to want to reach your end goal and focused enough to execute a plan that works for you.
We’re all different, so there’s no magic bullet solution for procrastination. But if you can build a plan that works for you, work the plan.
This article was originally posted here on Entrepreneur.com.
(Infographic) The Organisational Tactics, Work Habits And Routines Of The Most Successful People
Take a look at how some of the most successful people set up their workspace.
How your workspace is set up can help or hinder your productivity. So what makes for a great workspace?
For inspiration, see how people such as Elon Musk and Oprah Winfrey organise their desks and surroundings. Of course, different tactics work for different people. So to maximise productivity, find what best suits you.
While many people believe a clean desk will provide clarity and decrease stress, that’s not what Albert Einstein thought. In fact, Einstein was a supporter of the messy desk, having once said:
“If a cluttered desk is a sign of a cluttered mind, then what are we to think of an empty desk?”
Mark Zuckerberg prefers to have the same desk as every other Facebook employee. Studies have shown that open floor plans can encourage creativity and productivity – especially if you’re rubbing elbows with the CEO.
Another option is the standing desk. According to research, productivity can get a 10 percent boost when using a standing desk. An avid user of the standing desk was author Ernest Hemingway, who put his typewriter on top of a bookshelf in his bedroom.
Check out National Pen’s infographic below to see the desk styles of some of the most famous people history to today.
This article was originally posted here on Entrepreneur.com.
11 Ways To Maximise Every Part Of Your Day
From their morning routine to being productive at the office, entrepreneurs share how to get the most out of your time all day.
Want more ideas?
Sometimes it feels like there aren’t enough hours in the day to get everything today. However, you might be happy to know, there are some simple things you can do to maximise your time and productivity. For starters, have a set routine – that could be a specific time to get coffee in the morning, a brief workout or a process for catching up on emails.
As part of Entrepreneur‘s “Guide to Getting More Done Every Day,” check out these 11 productivity secrets from successful entrepreneurs.
Have a routine
“I have a set routine I never break: Get up, walk to a coffee shop, have an espresso. It gets my brain ready to prepare for everything I am doing that day. When I’m home, I take my son, and when I’m traveling, I get to explore a new place.” – Patrick Quinlan, CEO, compliance management software company Convercent
Exercise in the morning
“At 6 a.m., five days a week, I ride for an hour on a stationary trainer. The meditative state I achieve while working out always sparks new ideas, so I’ve started capturing those thoughts after my rides, either with Siri notes or old-fashioned pen and paper.” – Neil Grimmer, founder and CEO, personalised nutrition brand Habit
Get ready in the morning
“The Keurig is set to go on at 5:30. I like to have my coffee and check emails before I wake up my children for school. I use this precious time to organise orders, plan warehouse priorities for the day and check in on production. This allows me to go into my day feeling proactive and ready.” – Sara Stein, founder, gift brand Sisters of Los Angeles
Have Wi-Fi everywhere you go
“Great wi-fi is key – I’ve even brought my Eeros with me on trips where I’m staying in Airbnbs. If I’m in a hotel, I make sure there’s a decent gym and a great café nearby. Having a small routine on the road helps it feel less foreign.” – Alexis Ohanian, co-founder of Reddit and Initialized Capital
“Fake [listening to] headphones. I have these obnoxiously large, white-and-red headphones that go over my entire ear and can be spotted from miles away. Sometimes I just put them on even if there is no music playing as a signal to leave me alone. Works like a charm. Until my team reads this!”– Scott Tannen, co-founder and CEO, bedding company Boll & Branch
Block ‘work time’
“Block ‘work time.’ My co-founder Alex and I both carve out 12 p.m. to 2 p.m. on our schedules every day and protect it as best we can, so we can get through pressing items and avoid being a bottleneck to the team on outstanding questions.” – Jordana Kier, cofounder and co-CEO, natural tampon company LOLA
“Everyone steps out of their office at 9 a.m. and shares a piece of good news. It can be professional or personal, as long as it’s office-appropriate. It gets team members into a shared space and allows us to start the day on a high note while getting to know each other and talk about successes.” – Monica Guzman, COO, public relations firm Konnect Agency
Create fun office rituals
“For our internal executive meetings, if one or more people arrive late, they have to buy lunch for the next meeting. This keeps people on time and gamifies the meeting. We laugh about it with each other every time.” – John Rubey, CEO, content provider Fathom Events
Take advantage of your commute
“If you commute to work on a train, with limited connectivity, as I do, think of one meaty email you’ve been avoiding writing and give yourself the length of the commute to really dig in. It makes the trip go faster and lets you start your day with a great sense of accomplishment.” – James Hirschfeld, co-founder and CEO, stationery brand Paperless Post
Schedule short meetings
“We schedule regular 20-minute walking meetings with our colleagues. The limited window forces function and encourages both parties to be efficient in their communications. It’s surprising how many issues can be resolved or clarified in that tight timeframe.” – Evelyn Rusli, co-founder, baby food brand Yumi
Workout at your desk
Sometimes you simply can’t get out. “In the office, there’s nothing wrong with doing sets in between calls and meetings. Do 20 squats, 20 jumping jacks.” Bonus points if you break a sweat. (Sorry, work clothes.) – Martellus Bennett, founder of creative firm The Imagination Agency
This article was originally posted here on Entrepreneur.com.
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