Being an entrepreneur is very exciting but also very stressful. To help you maximize the enjoyment and minimize the difficulties, I will share 6 key strategies that I have found by working with hundreds of clients.
1. Create a solid business plan Many entrepreneurs are wonderfully creative and innovative people. They are talented at brainstorming and have fantastic ideas. They are often not so strong at planning, organizing, and following through with plans. Create a plan from the beginning and update your goals and strategies monthly. Use the business plan to give you direction and guidance and to help make decisions more easily.
2. Become talented at marketing or hire someone who is One of the #1 complaints I hear from entrepreneurs and small business owners is, “I have this wonderful business/product/service, but no one knows about it/me”. Do not let you hard work go unrecognized. Learn strategies for increasing visibility within your market, and consider hiring a marketing specialist or business coach. Implement marketing strategies daily.
3. Delegate, Delegate, Delegate, Do NOT try to do everything yourself and get burned out. You will become exhausted, make poor decision, and hurt the chances of success for your company. Outsource, delegate, and rely on others when something is not your area of expertise. This will save you significant $$ in the long run.
4. Separate work from personal life Many entrepreneurs believe that if they work VERY hard, their business will be more successful. As a result, they eat, drink, sleep, breathe, and talk their business 24-7. Why is this a bad idea? We know from research that people are most effective and efficient when they are rested and stress-free. Living your business every second will not make you feel rested and stress-free. Consciously carve out time to do enjoyable things that are completely unrelated to your business.
5. Increase your energy and decrease stress One of the most effective ways to increase energy is through regular exercise. Exercise serves the fantastic purpose of killing two birds with one stone: decrease stress and gain energy. Create a feasible exercise plan that you can actually see yourself doing several times per week. Consider: costs, convenience, comfort level, time, other people who you can exercise with, and location. For instance, if time is the most critical factor, get a cardio machine and free weights and work out for 30 minutes in your house. If cost is the most important factor, plan a routine to walk or run outdoors and do push-ups and sit-ups in your home.
6. Use support systems wisely Using support systems, such as family, friends, and colleagues, is critically important. You will feel better and make better business decisions. Be careful, however, to utilize them effectively. You do not want to get biased recommendations or burn out your supports. If you need more objective opinions or feel like people are getting tired of hearing about your business, hire a consultant or coach, or ask businesspeople in fields different from your own. Remember to continue to use your supports for enjoyable and rewarding activities to help you separate work and personal life.
Dr. Larina Kase, President of Performance and Success Coaching is a nationally recognized business coach, and has helped many business people attain profitable and rewarding careers.
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