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E-Myth – “Why most small businesses don’t work & what to do about it”

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Business Coach | Entrepreneurs Should Work Six Days a Week

 

One lesson that business owners need to learn as quickly as possible according to their business coach. Is that in order to succeed, they have to work harder than their competition. Which is why it is recommended for entrepreneurs to work six days a week instead of five.

Many business owners start their business in order to gain time freedom. However this is not going to happen in the first couple years of business ownership. Entrepreneurs are going to have to work extremely hard in order to build a business that they can leave for their time freedom.

As well, entrepreneurs need to understand that not only is the failure rate for entrepreneurs 50% in five years. But business owners are failing in the first and second years as well according to their business coach. And every advantage that they can give their business early on. Can be very beneficial.

According to industry Canada, 15% of all businesses fail in the first year. While 30% of businesses fail in their second year of business ownership. And if entrepreneurs were able to work harder in their business in those first two years. They could potentially overcome those high failure odds.

The three most common reasons why entrepreneurs fail, are that they are unable to find customers for their products and services. Which is actually the most common reason why businesses in Canada fail. Making up 42% of the reason why businesses are not successful.

The second most common reason why entrepreneurs are not successful. Is because they run out of money. And finally, entrepreneurs are not able to succeed. Because they cannot find staff, or keep staff in their business.

By working six days a week. Business owners can create a schedule where they are addressing these common reasons why businesses fail. In order to overcome them.

For example, if business owners work twelve hour days, and work six days a week. They could put into their weekly schedule. Time to recruit and train staff.

That way, they would always be looking for great candidates. In case they need to replace someone quickly. And by regularly training staff. It makes the workplace attractive, where many employees would not want to leave. Because they are continually growing.

Another example of why six day a week schedule can help entrepreneurs overcome failure. Is because they can regularly schedule sales and marketing time. That will allow them to sell enough products and services to grow their revenue.

Which will address the first and second reason why business owners are failing. Because they cannot find customers, and they run out of money. By selling more products, business owners will have more money. And be less likely to fail because of that.

If entrepreneurs are struggling with how to create their schedule. They should contact their business coach, who will be more than happy to sit down with them. And help them time block a six-day a week schedule. So that they are prepared to succeed as soon as they open the doors to their business.

Are You The Best Business Coach Near Me?

 

One mistake that entrepreneurs make when they first start their business according to their business coach. Is thinking that they are going to be able to immediately have time freedom. And do not put enough hours into their workday.

And while time freedom is a great goal for business owners to have. And is one of the most common reasons why entrepreneurs start a business in the first place. It is something that is going to be a long-term goal, not a short-term goal at all.

The reason why, is because when entrepreneurs first open their business. They are going to lack the funds to be able to have as much staff as they want. Which means they are going to have to do a lot of the tasks in the business themselves.

All of the tasks that they do, will be to make up for the fact that they are leveraging their own time in order to get things done. And in addition to that, they still have to work on the billable tasks in their business. Which means they need to get used to longer days, and longer weeks.

In order to get everything done that they need. To run their business, as well as get all of the billable tasks done. They will need to work a twelve hour day, and work six days a week. Otherwise they will run out of time to get everything done.

And when an entrepreneur decides to work twelve hour days, six days a week. Business coach recommends that they create a time block schedule. That way, they will know exactly what they are doing each hour of the day.

So that they do not waste any one of their one hundred and sixty-eight hours in a week. If business owners do not take the time to figure out what they are doing in every hour. They will find that not everything on their to do list gets done, and they are not working as effectively as they should.

Not only should they have time set aside for working on billable tasks. But business coach also recommends that they set aside time for administrative tasks. Such as entering information into their accounting software. Invoicing clients, calling clients for money. And paying bills.

A business owner should also have time weekly set aside for marketing and sales. Because this is going to be the activity that helps them find enough customers. So that they can stay viable. As well as grow their business. And needs to happen on a consistent basis.

Business coach also recommends that they recruiting staff, training staff and creating checklists and templates. Because these are going to be what help them have staff in their business. And allow them to grow their business. And it is important to make sure these things get done, to help a business grow.

The sooner business owners have a time block schedule. That allows them to work six days a week. It will be more set up for success than ever.