Edmonton Business Coach | Why Do Entrepreneurs Work 80 Hours A Week
One of the most important formulas that entrepreneurs need to keep in mind when they are starting their business, is that the more time a business owner puts into their business, the more increase chances of succeeding says Edmonton business coach. The author of the one thing, Gary Keller said this about putting time towards tasks: ìtime on a task, over time, eventually beats talent every timeî. Business owners need to understand that when they are building a stable business, they need to put in significant amounts of time for several reasons. If they start their business with that in mind, they will be more prepared to put in the time they need to make a successful business.
One of the most important reasons that entrepreneurs need to put time into their business, is because when a business is just starting, an entrepreneur has more time than money. By leveraging the time that they have to make up for the fact that they do not have money, everything that needs to get accomplished in business must come from the entrepreneur. Everything from marketing initiatives, need to come from the business ownerís time to developing the product and service, delivering customer service, refining their products, as well as develop and document the repeatable processes that they need to make their business scalable.
It is extremely important that to help business owners be motivated to continue to work these extremely long hours, they need to first identify what they need to cut from their life to make room for that much longer workday. Edmonton business coach recommends that business owners make time for their family so that their family can feel better and supporting them working so many hours and long days. When they decide what is truly important to spend time outside of work, it can help the business owner stay refreshed and ready to tackle the next long and hard day building a business.
When an entrepreneur is spending time with their family, of the most important things they can do is be present and in the moment when they are not at work. One part of that is ensuring that they are not on any electronic devices when they are with their family. By being distracted by electronic devices, links time that an entrepreneur spends their family fragmented and not as valuable. Business owners should ensure that part of cutting out the unimportant things to make room for the important things is also included while they are spending family time says Edmonton’s business coach. Not only will unplug from electronic devices at home will business owner to be more present for their family, but it also is one way to ensure that entrepreneurs will not let business tasks start to work their way into home life.
By creating a rigid work schedule, Edmonton business coach says entrepreneurs can ensure that they are being effective at work, that they are coming home at the same time every day so that they can spend important time with their family to feel charged for the next day.
If the motivation for people to start their own business is to improve work-life balance immediately in their life, Edmonton business coach says that this is often a mistake. While it is possible as well as a great goal for entrepreneurs to have to be able to have a short workday or be able to take more time off, business owners usually have to work extremely long hours for an extremely long time before that can happen. Business owners should start their own business because they want to build a better life for their family, increase the wealth accumulation down the road, but if the motivation is to have a better life instantly, that is not usually going to work.
An average successful entrepreneur works about 80 hours a week on their business. Entrepreneurs who are not prepared to work that much they struggle in their business. Industry Canada says that 50% of businesses fail in year one, 30% of businesses fail by year two, and 50% of businesses fail by year 5. Being an entrepreneur is not easy, and the failure rate is high, however, if entrepreneurs can work hard in their business, about 80 hours per week, then they may be more set up for success in their business.
Entrepreneurs are choosing what business they should get into, they should build a business around something they are extremely passionate about recommends Edmonton’s business coach. If business owners love what they do, it will feel less like work, and it can help them stay motivated during the extremely long business days that come with an 80-hour workweek. It will be much easier to spend the time working on the business that they need to become successful, and they will enjoy it more says Edmonton business coach.
Another way that entrepreneurs can stay motivated even when things are difficult, is by celebrating their small victories every day. The reason for this says the Edmonton’s business coach is because of people motivation from seeing the progress of their hard work. By only celebrating large goals, entrepreneurs are missing out on an opportunity to develop motivation that can help them stay motivated and focused through the difficult task of building a business. Whether it is celebrating achieving small sales goals, or to a schedule, those small celebrations are going to serve a business owner in the long run.
It is possible for entrepreneurs to work long hours for a long time by their motivation up says Edmonton business coach. If you being there motivation and working on tasks that they are passionate about, it can help entrepreneurs continue to work on their business, even when it gets very difficult.