Starting your business can be a high-five moment with fist thumping and back slaps for many. While for some, it can be intimidating. It’s not an everyday routine you indulge in. It’s a defining moment that can change the way you live your life. As the new decade begins, realign your thinking to start your business on the right note. It can improve your chances of reaching your goals faster. It can also lead to many life-changing moments, both big and small.
Below are seven high-impact ways to help you avoid the mistakes most businesses only realize way too late:
1. Be realistic on your goals
It’s a good thing to aim high when setting your goals. But often they can be hard to achieve. Take a long hard look at your goals and if they are realistic. Market research is excellent, but with deep introspection, your goals can become a reality. Consider your strengths, skills, knowledge, and resources to achieve them in a given timeframe.
2. Time block
We are often guilty of taking on too much work. It spills into your personal life and impact it in a negative way. One popular way to guard your time is time blocking. As simple as it sounds, it’s ensuring you prepare, plan, and block time for large and small projects often in batches or patterns.
With the Ivy Lee method, you first pick and work on the six crucial tasks for the day. Doing so reduces the stress with the daily activities and gives you clarity on your vital tasks that will move the needle in your business. Before you choose the top five to six tasks, take a bit of me time to get to know yourself better.
“To do two things at once is to do neither.” – Publilius Syrus
3. Know yourself better
When starting a business, most often, you will be the sole owner or probably begin with a small team. That’s an additional responsibility for making the right decisions that impact everyone positively. It might not always be possible if you are feeling stressed or worried most of the time.
To avoid getting in this zone, take a bit of me-time for self-realization every day. Journaling is an excellent way to make a quick five-minute account of the best decisions, wins, and not so good moments of the day. It never hurts to indulge in a hobby once a week that keeps you motivated, especially when you’re often fighting yourself when it comes to feeling confident, being calm, or taking risks at work.
Doing many things at once can lead to overwhelm, burnout, and making poor decisions. Most often, it’s reactive decision-making where you end up fire-fighting. On the other hand, consider a scenario where you are mentally charged up, and you know what’s coming.
Focus on what you are good at, and outsource other tasks to people outside of your team.
5. Be specific
When you allocate work to others, it’s wise to be specific to your expectations. Else, it might be a downward spiral for the team or the vendor or yourself.
Some questions to ponder on:
- Are you communicating what you want the other person to understand?
- Has the other person understood what you meant to say?
- Is there a pre-decided timeframe that can balance the expectations?
- Are there are gaps in work and your expectations?
“I have discovered that you will achieve nothing if you pursue everything. Be specific and stay focused.” – Israelmore Ayivor
As your business grows, you’ll find yourself buried in paperwork. Goal-setting and tracking, payments, shipments, marketing, operations are some of the areas you need to track regularly.
Declutter and focus on one thing at a time. This will help you perform the task at hand in a more impactful way.
7. Look for opportunities
Once you have your systems in place with a loyal audience, it’s time to reach out to a new audience. Even as you navigate the ups and downs in your business, networking will play a vital role in expanding your reach. It lets you learn and speed up your growth faster than you would otherwise do.
One way to ensure you are always in front of your audience is to network with like-minded businesses. It gives you a general feeling of the kind of work they do and how you can collaborate for business growth.
Regardless of where you’re at in the year, make sure to focus on the activities that’ll help you reach your goals. Starting with the seven steps outlined above will ensure you are mentally and emotionally ready to take on every challenge in your business.