Edmonton Business Coach | Is 40 Hours Enough When Starting A Business
When starting a new business, you need to be prepared to work more than 40 hours a week according to the Edmonton business coach.
Entrepreneurs are often surprised by how much effort it takes to start a new business when getting off the ground. In Gary Keller’s book the one thing he says that time on a task over time eventually beats talent every time.
The batching and MVP principles from the book the four-hour workweek are really good concept to use for any business to be more efficient. The concept of batching any work is the same concept that we use at inspired method. When we are creating SEO articles, we typically do 30 articles before switching tasks. This makes it more efficient for time and you get a full month of SEO content in one sitting.
The MVP principle is where some small businesses fail to get started because they are waiting to have the perfect business idea or product before they go to market with it. As an Edmonton business coach we encourage our clients to get started and make adjustments as you interact with your customers. It’s much easier to steer a moving ship
When you are considering a four-hour work week as outlined in the book, you have to realize that Tim Ferris is an exceptional businessperson and has the ability to maximize his time having a good support team surrounding them. For brand-new business owners however, you have to be willing to put in 80 hours a week in order to reach your goal.
Our goal as an Edmonton business coach is to help businesses become successful and beat the odds of failure. According to industry Canada 15% of businesses fail by year one, 30% failed by year two, and 50% fail by year five. We want to change those numbers so that 80% of businesses are being successful in making it past the five year mark.
Often people quit their job because they feel they will be able to have a better worklife balance. This is often not the case. What happens when you start a new business is more likely you’re going to be working greater than 40 hours a week not less than 40 hours a week.
What you have to do is have a rigid work schedule that allows you to get all of the work done that you need in your business, and have structured scheduled time for your family and other activities that are important to you. You’ll have a much easier time getting buy-in from your family if they know 100% that you are going to be there at the predetermined time.
We often see business owners who cut out early and don’t do anything meaningful with their time away from work. There either spending time on Facebook or sitting on the couch watching Netflix is not helping them get closer to their goals.
Edmonton business coach | business growth takes time
It is much easier to build a business around something that your passion about according to Edmonton business coach at inspired method marketing and coaching.
When you’re passionate about a business idea or product it’s much easier to work the long hours that are necessary to create a successful business. The timeframe that you can look at for working long hours is 3 to 5-year window.
After you’ve put in this amount of time you have systems and processes in place where you can then have people do those tasks that you no longer need to do yourself. This is why it’s very important to have a strict schedule and have set systems and processes to automate simplify your business.
There are serial entrepreneurs who build multiple businesses, but they start with a passion project first and they develop systems so that the business will work with help them first. Then they begin building business two and three and so on because they know the systems that are necessary to develop any business.
You have to take pride in the small accomplishments that occur on a regular basis. It’s the small goals accumulated over time that add up to big wins. As an Edmonton business coach, we encourage our clients to celebrate when they create a new checklist or reach a target of Google reviews.
In order to become a successful entrepreneur and build a business worth selling in the future, you will have to optimize your time and cut things out of your life that are not can help you get your goal faster.
Watching too much television, following sports teams, and visiting with friends you haven’t seen in a decade are probably things you can cut out of your life so that you can maximize your schedule for spending time with people that really matter.
We recommend all of our Edmonton business coach clients that they unplug from their smart phone and computer when they are spending time with your family. You’re not going build lasting relationships with your family if you are still connected to work or randomly scrolling on Facebook or Instagram while you’re supposed to be making time for your family.
Having a rigid work schedule helps keep you focused seek and replicate tasks and be more efficient and getting those tasks accomplished. We often have business owners pushback on discipline repeatable schedules. They assume that they can work whenever they want.
Unfortunately, the likelihood of them finishing other tasks at 11 o’clock at night is very slim, and they will lose track of their schedule and work will begin piling up for them. It’s always best to have a strict repeatable weekly schedule so that you always get your tasks done and you know what’s happening hour by hour. It’s much easier to plan around a strict schedule then by not having a schedule at all.
If you need help growing your small business, contact inspired method marketing and coaching at 780-937-2939.