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It is very important for entrepreneurs to understand that they will have to work hard for the first few years in their business according to business coach. And because of that, they should plan for working six days a week instead of five.
That will allow them the time they need to get not only their billable tasks done in their business. But all of the strategic tasks that will allow them to grow their business. And achieve all of their goals outlined in their business plan.
In order to ensure that business owners have time for everything. As well as are able to remember all of the tasks that they need to work on. They should sit down with their business coach and create a time block to schedule.
If they try to schedule all of their tasks within a five day week, working eight hours a day. They may realize that there is not enough time for all of the tasks that they need to get done regularly.
They might try cutting down some of their activities to every other week. But entrepreneurs should not do that. Because the key to business success is consistency.
And they might also try to shorten the length of time it takes to do several of these activities. However, that will lead to an entrepreneur feeling overwhelmed. If they tried to get too much done. But consistently never have enough time.
The best solution, would be to stretch those eight hour days into twelve hours. And work six days a week instead of five. While some business owners think that this is a very overwhelming schedule. It will be far more overwhelming to not have time to do everything needed to grow their business.
In fact, that can be something that sets entrepreneurs apart from their competition. If they are working evenings and weekends. And that may very well be very attractive to many customers. Who traditionally cannot get that type of business during regular business hours.
By being accessible evenings and weekends, can make a business owner more likely to land more customers. Because they are attracted to the hours that they are keeping. And can be an extremely large benefit.
Many business owners may not realize everything that actually does need to get scheduled. Which is why it is very beneficial to sit down with their business coach. And work through their schedule. Ensure an entrepreneur is not missing something important.
One thing that there business coach will recommend they have. Is time on a weekly basis to do all of their administrative duties. Such as paying bills, running payroll, invoicing clients. Need to happen consistently, to ensure that their business can keep running.
And other administrative duties like entering financial information into their accounting software, calling clients to pay those bills. Can help them understand their finances, so that they can avoid financial problems later on in their business.
If business owners tried to work five days a week in their business, there business coach says they may end up not getting everything done that is needed. And could be responsible for them to not be successful in their business.
According to industry Canada, the failure rate for entrepreneurs in Canada is quite high. With 15% of entrepreneurs failing in the first year of opening their business. And 30% of feeling in their second year of business ownership.
While an overwhelming 50% of all small businesses that open their doors in Canada. Fail within five years of starting their business. And industry Canada did a survey to find out why.
They were shocked to realize that there were three reasons why business owners were not successful. Starting with the third most common reason, with business owners saying that they failed. Because they could not find or keep staff in their business.
The second most common reason why entrepreneurs were not successful in Canada. Is because they simply ran out of money. And that could be attributed to many different factors.
And the single most common reason why entrepreneurs failed in business in Canada. Is because they were not able to find enough customers to sell their products and services to.
And while there are many different reasons why business owners might fall victim to these problems. If they work six day week instead of five. They will have more time available, to work on tasks that can help them overcome these challenges.
A great example of this, is in order to help overcome the challenge of not being able to find or keep staff. Business owners should put into their schedule on a weekly basis. Time to recruit as well as train staff.
By looking for great candidates for their business. Even when they are not actively hiring. Can help entrepreneurs meet enough candidates that is needed. To find the best fit for their business. And when they find themselves needing to hire someone. They can draw on this pool of candidates.
And that will allow them to hire someone faster. And ensure that that person will be a better fit. Rather than starting the process to find someone by placing an ad, after they have in need. This can be time-consuming, and traditional interviews do not help entrepreneurs find the best fit for their business.
By training staff on a regular basis. Not only are entrepreneurs helping their staff grow. But when they are trained on a regular basis. They feel more committed to the business. And can end up staying longer in an organization. Because they are growing and feeling valued.
This is just one example of how a longer schedule can help entrepreneurs accomplish more tasks. And these tasks can help them succeed. They should also puts in their calendar time for administrative duties, creating checklists and templates.
And time to do sales and marketing consistently every single week. That will help them find the customers they need to stay in business according to their business coach.
A business owner will not have time to do all of these activities while working a five day week. As well as working on the billable tasks for their business. Which is why business coach recommends working in a six-day week so that they can be more likely to succeed.
