Business Coach | Why Should Entrepreneurs Work Six Days a Week
It is a common goal says business coach. That business owners want time freedom as well as financial freedom. When they start their business. However, those need to be long-term goals. Because an entrepreneur needs to build a successful business first. Before they can get either.
And the amount of time that a business owner needs to work in their business. May be longer than they first assume when they start their business. Which is why they need to sit down with their business coach. And create a time block schedule before they even open the doors to their business.
The reason why, is to ensure that they have enough time. To get all of the strategic priorities that are outlined in their business plan. That were designed to help them accomplish the goals of their business plan.
And in addition to those strategic priorities there business coach says. They also need to work on billable tasks, administrative duties, sales and marketing recruiting and training staff. As well as creating checklists and templates in their business.
There is no way that an entrepreneur can get all of those tasks as well as their strategic priorities done. By working eight hours a day, five days a week. And when they sit down to create this schedule. They will start to see why they need to work longer hours and more days a week.
In fact, the most ideal schedule for entrepreneurs. Will have them working twelve hour days, and working six days a week. And while some business owners think that this is going to be an overwhelming schedule. It will not be as overwhelming as many people think.
By scheduling enough time to accomplish each task. And scheduling time devoted to each important task that needs to get done. Business owners can be certain that when they start their day, they will be able to accomplish all of their tasks. And then leave work on time, so that they can see their family.
Instead, if a business owner was to tried to get all of these things accomplished in a five day work week. Where they were working eight hours a day. They would feel much more overwhelmed. Because they would always be running out of time. Or not have enough time to accomplish all important.
So while it seems like it might be overwhelming to have a longer schedule. It is going to allow business owners to have the time required to get everything accomplished. And by maintaining this schedule for a few years.
And help an entrepreneur grow a business that will allow them to have the freedom of time that they have dreamed of. No goals can be reached without a lot of hard work.
And putting this hard work into their business at the start. By understanding the amount of time that they need to put into their business at the beginning Can help them build a business of their dreams.
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If entrepreneurs are not prepared to put the long hours into their business that it takes to be successful says business coach. They may find out that it is hard to get everything accomplished. They will realize this too late, which will have them succumbing to one of the reasons why businesses fail in Canada.
In fact, according to industry Canada. There is an extremely high failure rate of small businesses in this country. With 15% of entrepreneurs failing in the first year of owning their business. And 30% failing in their second year of operations.
Eventually, the failure rate extends to 50%, which happens in about five years of owning a business. And therefore, is his coach says entrepreneurs need to know what can help them overcome those odds. So that they can be more likely to succeed in their business.
In order to understand how to overcome those failure odds. They need to understand the reasons why the majority of those businesses failed. According to industry Canada, there are only three main reasons why businesses in Canada failed.
The third most common reason why businesses fail, is because they could not find or keep the staff needed. In order to keep their business running, and to grow their business says business coach.
The second most common reason why entrepreneurs in Canada failed. Is because they ran out of money. And the number one reason why businesses in Canada were not successful. Is because they could not find enough customers to buy their products and services.
Therefore, if business owners created time in their schedule consistently. To overcome each of these odds. They would be more likely to succeed in business. The first thing that business owners can do is setting aside time to recruit and train staff every single week.
Another thing that business owners can do that will help them succeed would be. Ensuring that they have time set aside in order to do sales and marketing on a weekly basis. So that they can not only be more likely to find the customers that they need to buy their products and services.
But finding more customers to buy their products and services. Will help them grow their revenue says business coach. And the more revenue they generate, the less likely there going to run out of money in their business.
But also, making time for the administrative tasks of their business is very important. So that entrepreneurs can enter information into their accounting software. As well as look at and read and understand their financial statements. In order to make the most informed financial decisions.
And when they do that, they will be able to avoid running out of money in their business. By making informed financial decisions they can avoid running out of money in their business. But also use that information proactively. To know when they need to increase revenue and cut expenses.
There are many things that business owners can do to help increase their chances of succeeding. And by scheduling those activities into their schedule. Can help entrepreneurs succeed in business.