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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 | How Does An 80 Hour Work Week Help Business Owners

Entrepreneurs need to know one thing that is going to help them be successful according to Edmonton business coach, is that they need to work extremely long hours. The most successful entrepreneurs never work less than 80 hours every single week. This is one thing that business owners need to keep in mind to do what it takes to become successful. Industry Canada says that 50% of entrepreneurs fail in their first year of business, 30% fail by their 2nd year in business, and 50% fail by year 5. Mrs. extremely difficult statistic to look at, thinking what the success rate is for entrepreneurs. However, if they realize they can increase their chances of success by increasing the number of hours worked, perhaps more entrepreneurs will be prepared to do so. The author of the book the one thing, Gary Keller says this about spending time on tasks, ìtime on a task, over time, eventually beats talent every time.î

Even if people believe that they can create efficiencies in their business such as using batching to group similar tasks together to get tasks done quicker and more efficiently as well as using minimal viable products to get selling as fast as possible in business, to get valuable market feedback, all of the efficiency creating that can happen in the business, still cannot ensure that a business owner can work fewer hours on their business. Edmonton business coach says that everything that needs to get done in the business falls onto the business ownerís shoulders initially, such as marketing their business, developing and refining their product, as well as all of the strategic priorities of the business. As the business becomes successful and grows, business owners need to work on creating processes and systems and ensuring that the business can be scalable into the future. This all requires a large amount of time, that no amount of creating efficiencies can replace.

To be able to put in so much time at work, business owners need to be able to consider but they need to cut out of their life to focus on building their business while they are at work, and spending time when they are not at work on the most important things. Edmonton business coach says that this means that entrepreneurs might have to give up doing things such as the public with their friends to spend time with their family. Whatever they decide to give up, and whenever they decide to do should be extremely important for them to spend time on, if that is the only thing they get done they can be happy with that.

By planning to work extremely hard in their business, and planning what they are going to focus on away from work can help entrepreneurs be disciplined enough to work those long hours, to build a truly successful and stable business.

Edmonton business coach says that the one thing that is people who are planning on becoming entrepreneurs should keep in mind over everything else, is that the most successful entrepreneurs are never working less than 80 hours per week. Business owners need to be prepared to put that kind of time into building their business for they leap entrepreneurship. Even though a lot of entrepreneurs get into their own business to improve their work-life balance, creating freedom of time is not a short term goal. Business owners are going to have to work and an 80 hour work week for many years before they can utilize shorter work schedule, or being able to take time off whenever they want.

When the thing that can help entrepreneurs adhere to such a grueling workday, is by creating a rigid and repeatable schedule for work as well as home. Edmonton business coach says that most business people understand that a rigid schedule at work helps people to stay on task, get employee buy-in and be able to More things accomplished in the day, but they should also keep in mind that having a rigid schedule can help significantly at home as well. If a business owner is adhering to their schedule strictly, it will also leave work according to the schedule, which means that the family of an entrepreneur can count on all of the time that the entrepreneur spent them. If it is not in a schedule, or if the schedule is not repeatable, a family might never know when to anticipate spending time with their loved one, which means they might not be around when the business owner is, and vice versa.

When an entrepreneur is spending time with their family, they need to unplug more often. Edmonton business coach says unplugging is extremely important because it can help the entrepreneur at the moment and feel present when they are not working. Entrepreneurs who spend more time unplugged away from work no matter what they are doing tend to feel more relaxed and rested and people who spend time away from work plugged into their electronic devices whether it is TV, video games, texting for example.

The last great piece of advice for entrepreneurs who are thinking about becoming business owners is that they should keep in mind that if they build a business around something they are passionate about, it can often feel like they are not working. Doing what they love can allow business owners to work harder, and push through difficult situations and long work weeks. If a business owner is going to be spending over twice the time they normally spend working on something, they should ensure it is something that they love, so that they can tolerate long hours, and believe in the mission of their business.