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

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Edmonton Business Coach | 80 Hour Business Weeks Are Splendid

People truly don’t understand the time, patients, and team effort it takes to open and run a small business, says Edmonton business coach. Help and support or lack thereof could make or break someone’s dream to open and sustain a profitable and lucrative small business.

When thinking about starting a small business, start making choices about what’s actually important. First, think about and talk to your family about the hours that will take and the sacrifices that everyone will have to make. Case in point, most small business owners work double what a full-time employee will work. Get your family involved in your dream and understand that this works, eventually you can taste and enjoy life altogether as you will have time and financial freedom. Make no mistake howeve., That statistics show that half of all businesses fail within the first five years of opening. As well, expect not to receive any revenue or profit the first two years that you are open. What that means is that you will have to keep your full-time job, says Edmonton business coach. And that’s where the 80 hours a week comes in. Your 40 hour for full-time job, plus at least 40 hours getting your small business off the ground.

However not every second will be spent at work. It is important that when you are at home and your family is excited to see you, the you make a conscious decision to unplug all technological devices and spend quality family time together. This includes make dinner together, going for walks together playing a game together or just conversing at the kitchen table. Ideally, you want to keep everyone in your personal and professional life moving the same direction and for the same goal.

Speaking of which, this may entail adopting a rigid and routine schedule both personal and professional. Invite the surrounding members of your family, your friends, and your work family to adopt this same schedule. That way you take the guesswork out of what everybody is doing, where everybody is, etc. Further, people will know where you are, how to find you, and you won’t miss out on regular things that are important.

A lot of business owners will pushback on militant schedule. The enemy however is in doing that as they think now that they own their own business they can do whatever they want whenever they want and with whomever they want. Not true says Edmonton business coach. If you start your own business, you should be more disciplined than everyone around you, not less. If you do so and adopt this, you will eventually be able to hire somebody to alleviate some of your daily tasks and routines so that you may have some free time. As well, if you are regimented and routine it’s just easier to train as of doing the same thing every day therefore the person that is alleviating some of the tasks for you will be easier and more simply trained.

Unplugging, batching tasks, and adopting and believing in a minimal viable product, or things that can help you succeed in small business, says Edmonton business coach. Make no mistake, there will be long hours and arduous workdays. Also, expect that your life will get harder and more difficult, not better. However, the reason why you get into purchasing and running a small business to begin with should be believing in the big picture and long-term goal of financial and time success and freedom.

think of building your business around your passions, interests, and hobbies. That way, you will be forever surrounded with things that make you happy and you may feel as those putting such long time at work and hours at work will be less daunting.

And rest assured, says Edmonton business coach, that these long hours that you work, potentially for two years or more, will eventually become easier. Edmonton business coach for warns you that most people do not have the discipline to work such long hours for such a long time. They are also discouraged, too, when they do not see any income, or profits coming into the business for at least a couple years. In fact, most businesses fail within the first five years of opening.

Speaking of hobbies and interests, think of the minimal viable product. What that means is the coproduct that would be most successful with your clientele that will allow you to make a profit and to make your business sustainable for long time to come. Rest assured, that most successful entrepreneurs did not start out successful. They worked long hours and suffered to receiving no paycheck as well for the first a while however they stuck through it and they persisted. When starting a new business, says Edmonton business coach, persistence is key.

It might be a good idea to adopt a rigid and regimented schedule both business and personal. Try and get your coworkers and subordinates as well as your family and friends on the same schedule as you. That way everybody knows what to expect from each other everybody is where to find everybody and everybody knows how to contact everyone when people need help or assistance.

We often develop motivation from progress instead of worrying about what you want, i.e., instant gratification, worry about setting yourself well into the future along with your family. Expressed your family your goals of wanting to put them as well as yourself in a position of financial and time success and freedom. Explain to them how you go about doing it and ask for their support. In turn, when you are at home with them and not at work, show them the decency to unplug and be with them completely in the moment. They will want to spend time with you and share in their day, there rejoices, and their sadness. At the end of the day, they’ll miss you too.