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Are You Suited to Entrepreneurship

Admin Hacks For Entrepreneurs

Here are five quick hacks that will improve the life of any entrepreneur.

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Entrepreneurs are some of the busiest people you may ever meet. They do it all themselves and often don’t have time for anything that isn’t related to their business. While this sounds impressive, it could mean burnout for the entrepreneur pulling 16 hour days with no downtime.

A big problem many entrepreneurs face is knowing when to make their first hire and then knowing how to delegate tasks to them. Hiring an employee is something most entrepreneurs will put off for a long while so as to save on costs and because choosing the right person to join your company is difficult.

If you’ve ever dabbled in the entrepreneurial game you’ll know that you’re expected to run your operation in a bootstrapped fashion. You need to spend as little money as possible until your profit margins are thick.

An employee is a major cost. But an employee is also a major asset if you choose the right person for the job.

Related: Entrepreneurs And Gamblers: Shared Traits

More often than not entrepreneurs find themselves overly stressed and on the verge of burnout or a nervous breakdown, before realising they need to employ someone and ask for help. Does this sound familiar to you?

If you’re a self-starter and thinking of launching your entrepreneurial career or if you’re already in the start-up game, you should consider ways to mitigate the overwhelming stress you’re bound to feel. You can do this by applying admin and efficiency hacks to your busy work life.

You need to consider various types of hacks that will assist you in your day-to-day business activities. Ultimately you need to choose ways to improve long-term productivity.

This means putting in place better processes that’ll improve your daily admin tasks and help you understand your business better.

You will also want to increase your ability to communicate effectively with your clients, suppliers and target market. And don’t only make sure others are happy, check your own mental and emotional health too.

Here are five quick hacks that will improve the life of any entrepreneur.

life-began-after-coffee

1Learn to say no

When you’re running your own business you will want to say yes to everyone and everything. But this is not wise. This is a one-way ticket to burnout. You might become popular, indispensable even but you won’t be doing yourself any favours. Know what you can and can’t handle and say no when your plate is too full.

2Take frequent breaks

Take breaks during your work day and during the year. Stepping away from your desk and the computer is pivotal to your success. You can’t keep pushing yourself as you’ll eventually start making mistakes and even becoming ill from the stress and pressure.

Make sure you have allocated vacation time throughout the year where you can switch off completely. And during a busy work day, you can always step out for a coffee, a walk around the block or a lunchtime gym session. All of these activities will help you get the mental and physical break you need.

Related: The Journey Of Entrepreneurship: How The Tough Get Going

3Establish a list of priorities

Not everything is urgent but many busy entrepreneurs tend to behave like everything needs to be done right now. Every day you should create a list of priorities. Establish what requires attention and work right now and what can wait.

Make sure you tick off the tasks you identified as urgent so you can note your progress and then tackle those less pressing.

4Turn off all devices at various times throughout the work day

When you’re an entrepreneur there’s no one helping you tackle miscellaneous tasks and no one screening your calls. So when you’re busy with a big project or an important matter you’re also inundated with other stuff that shouldn’t be taking up your time in that moment.

This means you’re taking too much time to get things done. So rather, sit down, turn off all your devices and focus only on the job at hand. Unless you’re waiting on a crucial document or phone call you should allow yourself the opportunity to work in peace so as to complete the job you’ve set out to do.

Related: What Does ROI Really Mean To Entrepreneurs?

5Keep snacks and water on your desk

This seems obvious but snacks and water at your desk mean you won’t need to hunt for food when the hunger pangs start destroying your ability to concentrate. After all, you shouldn’t be allowing yourself to reach the point of starving. Rather eat healthily and frequently, consume a lot of water so you’re hydrated. By doing this you’ll keep yourself healthy, alert and productive.

If you’re an African entrepreneur requiring more insights into streamlining your business activities and managing your time, then join up with like-minded individuals and the various entrepreneurial conferences around South Africa.

Mingling with those of your ilk will give you ample opportunity to learn how they manage, what systems they employ and how they find ways to fit in everything with very little time. Your network you create could end up being the ultimate hack for the busy entrepreneur.

Megan only discovered her love for writing at the age of 28. Before that she spent her time in the theatre world and then in the magazine industry, where she realised the sweet reward that writing can deliver. After building up her portfolio Megan ventured into the digital realm to try her hand at the online game. Now she is the editor of The Cradle, an African entrepreneurial website that advises entrepreneurs and small business owners across the continent.

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Are You Suited to Entrepreneurship

(Podcast) Being An Entrepreneur Is Painful

There is a pain attached to running your own business. It’s time to discuss how tough it is – address the reality and you might just be one of the successful few.

Nicholas Haralambous

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Entrepreneurship is fun. But on the whole, running a business is hard. Far fewer business owners succeed than fail. Statistically your business is going to fail. Those are the hard numbers.

There is a pain attached to running your own business. It’s time to discuss how tough it is – address the reality and you might just be one of the successful few.

Listening time: 5 minutes

Related: (Podcast) Playing To An Audience Of One

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Are You Suited to Entrepreneurship

3 Dangerous Entrepreneurial Myths You Need To Ignore

This terrible advice won’t actually get you anywhere.

Entrepreneur

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Entrepreneurial Myths

We’ve all heard the numbers about how hard it is to build a long-lasting business. While there are many factors at play to get there, without effective marketing and sales a business cannot survive.

Unfortunately, there is a multitude of dangerous and destructive marketing advice swirling around the heads of vulnerable entrepreneurs. Like vultures seeking their next meal, “gurus” pontificate nonsense that these hard-working business owners follow, only to discover that what they tried doesn’t work.

Often, once the damage is done, it is too late for them to do anything else about it.

If you want to not only survive, but thrive, here is some of the terrible advice you need to start ignoring:

1“You need to be everywhere”

I’m sorry, but how do these people sleep at night without the use of narcotics? “Experts” spew out dribble to make headlines saying you need to get on Snapchat, get on Periscope, do YouTube Live … be everywhere! They’ll say you need to get on this platform or that social media network. Oh, and use LinkedIn Live! And make sure to post on Instagram three times a day and Facebook twice a day. And don’t forget those Facebook Lives. Make sure to do them every day.

Related: The Journey Of Entrepreneurship: How The Tough Get Going

ACK! Just writing that paragraph stressed me out. How the heck are you supposed to be on all of those channels, never mind doing it all effectively, and still run your business? Of course you can’t. And you shouldn’t. (Unless self-torture is your thing, in which case have at it. There are books about that, but I’m not giving any titles because I’d have to Google them and then I’d be retargeted by the ads and that would just be gross.)

It is impossible to spend even half an hour on each major network and still get any work done. Forget about focusing on measurement, profit and return on investment. They don’t mention that on purpose, because then these crazy-pants suggestions would really make no sense. But, then these “experts” would stop making the headlines, so they keep serving up spoiled advice for the poor folk who chow down and then get sick on it.

Don’t allow yourself to fall victim to their plots of deception. Demand strategies that value your time and produce results in a significant and measurable way quickly.

2“It takes money to make money”

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I didn’t take the easy way out. I am part of a group of scrappy entrepreneurs who have a lot of hustle and heart and little/no/negative funds. I didn’t come from family money, and the big banks certainly weren’t lending to businesses like mine.

The only way I was going to get a big pile of cash was if I won the lottery. And since I’ve only played about four times in the last decade, the chances of that happening were slim. What I had to find was the same thing you most likely want – a solution to predictably bring in customers when there is no marketing budget to play with.

3The Schmo-bags

The worst are who I call the “Ferrari Marketers.” They rent a sportscar for an hour or two, hang out in front of it and then sell us shiny object strategies that they haven’t even used in their own business.

Related: 6 Timeless Strategies That Drive Successful Entrepreneurship

They are abhorrent, hideous and dangerous. Not only are they crooks stealing the money of the people who are seeking a solution from them, but they may prevent really talented people who have a gift/service/product/offer to share that can help someone else from ever reaching them.

Did I mention they suck?

But, once you discover a game-changing system, you are responsible for implementing it. You can’t be distracted by shiny objects any longer.

As Jack Welch says, “Good business leaders create a vision, articulate the vision, passionately own the vision and relentlessly drive it to completion.”

Don’t allow yourself to be enticed or distracted by fads or the “latest and greatest/not greatest” new social media strategy, channel or tactic.

Once you uncover how to truly get results, be strong-willed and stubborn. Repel any idea, strategy or initiative that requires you to keep spending money to make money. If you keep throwing dollars and time at a goal, hoping and wishing that it will work, yet not tracking or measuring the results and scaling accordingly, then you cannot expect results.

Start measuring, tracking and demanding results from your time and money, rising above others and landing in the successful minority that thrives instead of survives.

This article was originally posted here on Entrepreneur.com.

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Are You Suited to Entrepreneurship

5 Mindset Changes You Must Make When Going From Employee To Entrepreneur

As one prominent author wrote, “Entrepreneurs don’t finish when we are tired. We finish when we are done.”

Sujan Patel

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Thousands of people dream of the day they can quit their jobs and escape the 9-to-5 life. In fact, Gallup found that 87 percent of the employees it surveyed worldwide did not see themselves as engaged.

But quitting your job and starting your own business is only half the battle. You need to prepare to be an entrepreneur. Besides getting your finances in order and having a plan in place, you also need to prepare your mind.

Your habits dictate your success, and if you’re still stuck in that 9-to-5 mindset, your endeavors will fail. You must adopt an entrepreneurial mindset and start thinking the way the world’s top leaders do.

Being an entrepreneur is very different than being an employee, and the way you envision it may be completely off base. Here are five changes you must make to your thinking in order to prepare yourself for the realities of being an entrepreneur.

1Train your mind to think outside the box

Once you leave your office job, you’re no longer confined by corporate life. That means you need to open your mind to new possibilities – possibilities that may not have been an option in your old life.

Related: For Shatty Mashego Success Lies In Maintaining A Positive Mindset

In an article for TIME magazineWarren Buffett, CEO of Berkshire Hathaway, said, “People will always try to stop you doing the right thing if it is unconventional.” In short, others may not see your vision, but you can’t let that stop you. You need to be creative with your business, offer something new and be different to be successful.

2Develop both short-term and long-term vision

Albert Einstein once told the New York Times, “A new type of thinking is essential if mankind is to survive and move toward higher levels.”

That new type of thinking needs to be focused on a strategic goal. You must have a vision for your company – an idea of where you’re going and how you’ll get there.

As an entrepreneur, you are the leader of your company, and your team members are looking to you to show them the path to success.

What’s your plan? You should be able to see the big picture as well as all of the steps it will take to reach your main goal. Then, you must communicate that vision to those on your team and ensure they each understand their individual roles in the plan.

3Let it all fall on your shoulders

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Becoming an entrepreneur can be scary. Your success is now completely dependent on the work that you do. You can no longer fall back on a salary or benefits.

As an employee, if you had a bad day at work, you were still paid your salary, regardless. But as an entrepreneur, if your business isn’t successful, you won’t make any money. Plus, you now have others relying on you for their livelihood.

Ryan Farley is a typical example of corporate employee-turned-entrepreneur, quitting a fast-paced finance job to start lawn care marketplace LawnStarter Lawn Care. “I was used to working extremely long hours in the corporate finance world,” Farley told me. “I thought that would have conditioned me well, but nothing can prepare you for this amount of stress.

“It’s pretty common for founders to have the stress get so bad it affects your physical and mental health,” Farley continued. “But you have to press on, and you’re better off for it.” Prominent entrepreneurs like Brad Feld and Mark Suster, have expressed similar sentiments.

Working for yourself also means you need to be your own motivator. You no longer have a boss hounding you to get your work done. You need to stay organised and focused, and you’re going to have to be comfortable with hard work and long hours.

Related: 8 Mindsets That Will Set You On The Path To Success

4Get ready to be a jack of all trades

As an entrepreneur, you can’t say “That’s not my job.” Every job is your job now. There’s no one else to pick up the slack but you. You need to make sure everything in your business continues to run on track, and that may mean doing work you aren’t used to doing. You may need to be the accounting department, IT, marketing and more in addition to leading your company.

Entrepreneurs wear many different hats and are constantly learning new skills and working hard. If you think becoming an entrepreneur means you get to sit back and kick your feet up, you’d better stick to your day job.

As entrepreneur, author and investor Robert Kiyosaki has written on Twitter, “Entrepreneurs don’t finish when we are tired. We finish when we are done.”

5Be flexible, focused and positive

Attitude is everything in business. You can’t let challenges get in the way of your dream. Entrepreneurs need to be optimistic and stay focused on their goals. Your passion must drive you.

Related: An Entrepreneurial Mindset – Why And How To Develop One

As Steve Jobs once said in an interview with the Smithsonian Institution, “Unless you have a lot of passion about this, you’re not going to survive. You’re going to give it up. So, you’ve got to have an idea, or a problem or a wrong that you want to right that you’re passionate about; otherwise you’re not going to have the perseverance to stick it through. I think that’s half the battle right there.”

This article was originally posted here on Entrepreneur.com.

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