Edmonton Business Coach | Is There Truth To An 80 Hour Workweek
While it is true, entrepreneurs work far more hours in their business and the average employee according to Edmonton business coach. But just how many hours may be underestimated by several people including business owners themselves? Most successful entrepreneurs do not work less then 80 hours in a week. This is actually double the amount of time that typical employees work for their employers, and so if entrepreneurs are not prepared to put that kind of time and dedication into going their business, they may struggle at finding success in their business.
While many people have been recently talking about the 4-hour workweek that was outlined in 2 verses book, there are a lot of great principles and book including being efficient by pinching similar tasks together in order to save time and become efficient, as well as creating MVPs in their business, which stands for minimal viable products, which allow business owners to get selling in their business as fast as possible, it is just not possible for entrepreneurs or even employees to be able to work only 4 hours per week. The average entrepreneur needs to spend significantly more time building their business, mostly because they need to leverage their own time to make up for the lack of money that they have in their business. Gary Keller, an author who wrote the book the one thing was quoted as saying in his book, ìtime on that task, over time, eventually beats talent every time.î Entrepreneurs who use that equation will get far in their business because time is extremely important.
When people are leaving their jobs in order to become entrepreneurs, they need to realize that if they are doing it in order to improve their worklife balance, that it is definitely possible, and that work-life balance is achievable, but when it comes to achieving that work-life balance as an entrepreneur, it has to be a long term goal. It is a great goal to have, and business owners who achieve it, can enjoy the freedom of spare time in their life, mostly because they worked harder than they have ever had to work in their life in order to achieve it. Edmonton business coach says business owners should get prepared for their work schedule to get far worse for an exceptionally long period of time before they can enjoy that freedom.
Many entrepreneurs wonder if it is possible to build a successful business on a more reasonable amount of time such as 40 hours a week like typical employees do, but this is owners that spend fewer time on their business will discover that it is far harder to create a sustainable business with that little amount of time invested.
Edmonton business coach recommends that business owners understand what they are getting into before they get into business ownership, and that they understand that they are going to be working extremely hard for a long period of time.
When people hear that entrepreneurs work 80 hours in a week, they may think that that is hyperbole says Edmonton business coach. However, it is very true that successful entrepreneurs work double the number of hours that typical employees work in their business. The reason for that, is because building a successful as well as sustainable business takes a lot of time and a lot of effort, and they are such a high failure rate for entrepreneurs, that only the business owners that are ready willing and able to put that kind of time into their business typically see success.
Industry Canada says that 15% of entrepreneurs fail in their first year, 30% failed by the 2nd year, and 50% failed by your 5. That is extremely eye-opening to understand that there such a high failure rate in the business, and that business owners need to be vigilant and dedicated to ensure that they are working hard in their business to avoid that fate.
Edmonton’s business coach says that in order for entrepreneurs to stay motivated in their business, they should choose a business to own that is related to a field that they love. If entrepreneurs do they love, it can feel like they are not working, or at least that passion can carry them through the long work hours, and the difficult days. By working on something that they are very passionate about, it will make developing the discipline to stick to a rigid schedule much easier, and make the work seem much less heavy.
Similarly to doing what they love, if business owners can get into the habit of celebrating the small victories that they have every day in their business, Edmonton business coach says that that can help entrepreneurs stay motivated in their business. Most human beings create motivation from seeing the progress of their hard work. By recognizing accomplishments that they see every day can help business owners create that motivation that can help them carry on their business when the days that there working in their business seem long, or that larger goal they are aiming for seem far away.
Another way that entrepreneurs can stay motivated during the long and hard difficulties of business ownership, is knowing that they are going to be doing something very valuable with their time and work is done. Because of this, business owners should decide ahead of time what things they need to cut out of their personal time in order to allow only the most important things to spend time on their not at work. Edmonton business coach says that this is important for business owners to choose ahead of time and then schedule into their workday so that they have that to look forward to when they are at work. By creating a schedule that allows them to leave work on time and get to the activities that they enjoy, can help business owners be motivated and refreshed to go back to work the next day.