Work Smarter and Not Harder
Do you feel like you’re investing so much time in your business but you never get anything done? Learn how to work smarter and not harder with these great tips below!
1. Set Goals
It’s important to set short and long-term goals when running a business. It is crucial to have daily to-do lists as well as goals you are aiming to complete for the month. On top of this, you should have a firm idea of your 1-year and 5-year plan. By setting specific and achievable goals, you will use your time wisely and have a well-planned work path ahead of you.
2. Utilize OPM- It’s All About the Benjamins
What is OPM? It when you use “other people’s money” for the equity needed above and beyond the loan for a business venture. Provided you structure the deal well, the more you can use other people’s money, the higher your return will be.
Many people think it’s a fantasy world that people would just give you money to invest, but that couldn’t be further from the truth. The reality is that most people don’t have time to find good deals. Instead, they rely on people with the proper financial education, skill set, and drive to bring deals to them.
Learn more about OPM here.
3. No Reinventing Wheels
Find mentors, sponsors, and/ or network with folks that are in your industry and do what you would like to do. Instead of trying to learn on your own learn from them. When I mean learn from them ask them how they failed and what they did to grow from it. Also, ask about ways in which you can simply do things easier. If you have enough of a rapport and have built a mutually beneficial relationship, they should be no issues in obtaining this type of information. Clothes mouths don’t get fed.
4. Pivot as Necessary
You should be owning your mistakes. All of them. Without mistakes, there is no way to grow and growth is the ultimate goal. You need to be critical and constructive of your work and that of your team. However, be sure to do so with grace. If you’ve made mistakes in your business, make practical measures to pivot whenever necessary. Many young entrepreneurs fail at their work projects because they continuously make the same mistakes without reconciliation.
5. Find Balance.
When many people start their own business they work all day every day. We are dismantling the booked and busy mantra if there is no self-care being implemented. I too have been guilty of this. This may seem necessary but working too much may cause you to burn out. So, to avoid burnout, explore skin-care routines, watch a movie on Netflix Party with friends on the weekend, or go for a run every afternoon. Sometimes you have to break from the grind, clear your mind, and enjoy some me-time!