Opinions expressed by entrepreneur Shareholders are theirs.
Ask most successful people how they achieved and they’ll tell you it’s simple: work hard. Some will be more honest and tell you that it is also about luck, but have you asked someone who has failed in business what really happened? the answer wont Because they didn’t work hard enough, although that might be the case. Most likely you’ll hear, “Right product, wrong time,” or “We didn’t have enough capital” or the classic, “We couldn’t compete with the big companies.”
While social media and other corners of the internet are full of success stories, the real keys to this case can best be found in failure stories. The old saying, “what doesn’t kill you can make you stronger” only works if it does No I kill you. Excessive hard work, whether it leads to triumph or tragedy, has led people to sacrifice their health and relationships, and has led to addiction and a variety of other personal and professional adversities. How do we overcome this? It’s simple: focus on the things other people ignore.
1. Repeat yourself
In 1997, the film plurality issued. Michael Keaton plays Doug Kinney, who is trying to balance home and private life and grow his business. To do this, he clones himself to help split the workload. As the movie progresses, this happens not once but three times, and as it eases the burden, it also creates a whole new set of problems. By the end of the film he sees the failure in this tactic. He found that the main problem was the lack of regulations in place – he only hoped that the clones would do what needs to be done.
As an entrepreneur, you definitely work hard, and you’ve also undoubtedly heard the suggestion to “work smart”. With the growth of many businesses, there is a natural desire to earn more money as a return on all efforts. It may be best, however, to forgo that raise and instead hire someone who is an expert in something you or someone on your team is involved in. This is also a great time to take an inventory of yourself as a leader, as well as your team. Ask employees what they want to take off their boards so they can work more efficiently. And even if you don’t finish hiring someone based on this input, it will still help you identify the strengths and weaknesses of your organization.
Related: Pros and cons of renting a copy of yourself
This is also a time in our economy where a large number of talent is looking to move. Many people have taken the opportunity over the past two years to learn new skills or otherwise improve their profession, and this includes both local and international talent. Others who are called into the office may have enjoyed working at home and are therefore ready for a change, or vice versa. Instead of working 24/7, you can now hire a team of these professionals – both here in the US and abroad – that can help solve the problems keeping you up all night.
2. Get an accountant and a senior accountant
We simply cannot discuss business development without talking about the need for a great accountant, because clean books are nothing less than foundation. In addition, tax laws and guidelines are changing at a rapid pace, and all Covid-19 loans for small businesses will begin to collect. And while a nice person you’ve been using for a long time may be doing a decent job, the right accountant will help you save the extra time and money needed to expand a team and help the organization grow.
3. Take more time
Many owners/executives set goals for the New Year, but have they also made efforts to schedule vacation time? Every business has a schedule of highs and lows in terms of hours required, so look at the calendar carefully, and plan accordingly. I suggest taking time off in three main areas: personal, professional, and one-on-one. Enjoy your time with the people who mean the most. Plan family trips ahead of time so that you can not only plan for them, but also prepare your team in advance. Another great aspect of the time you spend away is being able to see how systems perform when they’re not there – the gaps in staffing and structure – and the more time it takes, the more clear they are.
Related: 5 Steps to Taking a Vacation as an Entrepreneur Without Worry
With the world opening up again, events and retreats will be in full swing, so this is an opportunity to find people who can help you and your team grow. If you don’t feel like traveling, there are plenty of options for virtual events and workshops, just don’t make the mistake of trying to work while attending one. Also, for maximum value, take the day after the event as well, and use it to plan how to implement what you’ve learned.
If you travel for business, you know how much you can make up during these often wasted hours – from the time on the plane to the evenings where you don’t have to run the kids for exercise, it’s a great time to have fun overhead. So, try to plan a business trip Without work At least twice this year – get out of town like it’s for work, but take the time to relax alone and just think. Spice it up by going to a sporting event, a tourist attraction, or just catching a break. In our highly interconnected world, time alone can be spent on much-needed reflection, promoting personal and professional growth.
Related: Middle-aged entrepreneurs have a lot of life inside of them
At the end of the day, making time to focus on you, your team, and your structure are important components of success, but keep in mind that the rewards can’t always be seen in the bottom line. They often show themselves with a clear mind, and the return on investment can be enormous.