the most satisfying own business is the€¦ · corporate routine and starting to work for...

1 How to Manage Your Time as a Solo Entrepreneur

DISCOVER.DHL.COM How to manage your time as a solo entrepreneur.

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Obviously, that’s also the most challenging part, so if you’re contemplating getting out of the corporate routine and starting to work for yourself, it’s worth listening to a few SME veterans who have been there before you.

Here’s how you can make more of your own time:

THE MOST SATISFYING ASPECT OF RUNNING YOUR OWN BUSINESS IS THE KNOWLEDGE THAT YOU’VE DONE EVERYTHING YOURSELF


First, it’s important to understand the responsibilities and time demands of

being a solo entrepreneur.

When you work for someone else, you know when you are supposed to get things

done, how long you have to do it, and what the requirements are.

With solo entrepreneurship, you’re working by yourself, so set some

standards from the beginning.




IF IT WAS EASY PEASY EVERYONE WOULD DO IT

MANAGE YOUR TIME

Once your business plan is in place, you can create a plan for managing your time on a yearly, monthly, and daily basis. If you do not have a grasp of your long-term goals, you won’t have an idea of what you need to be spending most of your time on.




FOLLOW THE MONEY

You should spend the most time on the ideas that are most likely to result in a high return on your investment. Remember that any idea takes some time to evolve into a successful SME. If your small business idea needs tweaking after the first try, you’ll need to spend more time on it, fine-tuning and perfecting it for better results.

TIME IS MONEY

When it comes to running a business for yourself, you should always remember that ‘time is money’. Tim Ferris, in his book, The Four Hour Work Week, makes the point that outsourcing smaller tasks to others to focus on your priorities is a smart idea. He pointed to billionaire entrepreneur Howard Hughes as an example of this concept, who delegated everything he could do so that he could focus on the bigger things.

SPEND THE MOST TIME ON THE IDEAS THAT ARE MOST LIKELY TO RESULT IN A HIGH RETURN




You might think you can do everything, but successful business people know what they are really good at and which tasks are best left to others. Which tasks take most of your time? Are they productive, high priority jobs or are they more menial tasks that steal time from higher priorities?




KNOW YOUR STRENGTHS. DELEGATE YOUR WEAKNESSES

CREATING A DAILY SCHEDULE

Many entrepreneurs create a daily ‘to do’ list, as well as a regular schedule. Having too many items on your list can be discouraging, because you can never finish it. Instead, try putting specific items from your master list on your daily schedule with a time that you expect to achieve it.

YOUR TIME STARTS NOW. USE IT WISELY




LEAVE SOME BLANK SPACE

Google Calendar and other organizational tools are an excellent way to organize tasks. But you need to remember to leave some space, so you’ll have time to finish projects that you’re lagging behind on.

KEEP UP WITH CUSTOMERS NEEDS

The only thing keeping your business going is your clients. Even when you’re a new company, replying to emails and phone messages promptly will keep your customers happy.

REPLY TO EMAILS AND PHONE MESSAGES PROMPTLY


Whether you work alone at home as a solo entrepreneur or with a team of experts in an office, take time every day to regroup. Tidy up your calendars and ‘to do’ lists. Disorganized people miss important tasks.




FOCUS ON PRODUCTIVITY

A good entrepreneur will monitor and evaluate their success and productivity level on a daily and weekly basis, making adjustment when needed.

For instance, Brian Tracy (entrepreneur, author, and speaker) suggests increasing your productivity to 60% of your day. He recommends grouping similar activities in the same time frame so that you can categorize certain tasks.

This step also allows you to have more time away from tasks once you finish each work task group. Include significant actions in your daily plan that reflect on your long-term goals. Spend most of your time on the tasks that will lead you closer to those goals.

EVALUATE SUCCESS AND PRODUCTIVITY ON A DAILY AND WEEKLY BASIS


Accept complete responsibility for mistakes and victories and learn

from both. A solo entrepreneur is in it on their own. It can be scary

sometimes, but it’s worth it.

“TO SUCCEED JUMP AS QUICKLY

AT OPPORTUNITIES AS YOU DO AT CONCLUSIONS” BENJAMIN FRANKLIN

the most satisfying own business is the€¦ · corporate routine and starting to work for...

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