According to Tim Ferriss, author of the “The 4-Hour Workweek”: 80% of one’s productivity comes from 20% of one’s efforts and likewise 80% of your wasted time comes from 20% of the possible causes.” Do you agree?
Did you know there are steps you can take to address your “20%”:
- Has your support system grown? Are you in the same place you’ve always been, networking with the same people you always have? Look at stepping outside your comfort zone and the same circle of networking events and expand your horizons – your business will thank you!
- When it comes to technology, are you keeping up with the times? Working with outdated or outmoded technologies can sap your energy. Conversely, being too connected can also drain your energy. You need to work with up-to-date technologies but you also need to know when to “turn off and step away.”
- Physical health has a bearing on your mental health and your productivity. It’s not healthy to simply sit in front of a computer working all day. You need to get up – stand up and move around every hour for five minutes. Eat your lunch away from the screen, truly enjoy what you’re eating. Take time to visit friends and family and discuss items that are not related to business.
What can you to do increase your energy and deplete your energy sappers?
When you’re launching an entrepreneurial endeavor or even when you’re looking to work with a particular business owner do you stop to consider the who and what of the product you’re pondering? Actually, you could buy Product X from myriad sources, correct? In many cases you make your buying decision based on the person behind that product. This is something you will want to keep in mind when marketing your business — you are marketing YOU — YOU are the product!
How do you go about doing this? Here are my ideas on the subject:
- Think about how you can chart the evolution of your product, your service… you. Plan those steps and implement them to gain “raving fans.”
- Position yourself and hone your elevator speech as a demonstration of your value to the market
- Establish your personal network and your company branding
- Ask for testimonials from satisfied customers
- Become recognized as an industry leader within your niche
What can you do today to become the true face of your product or service?
Hunger and motivation are the two driving forces behind business success, don’t you agree? Which one feeds the other, though I sometimes wonder. I believe that if you’re motivated you will tend to make things happen; you’ll leap over obstacles and realize your dreams.
How can you stay motivated?:
- Review your goals at least daily
- Focus on reaching them
- Sharpen your hunger by taking personal responsibility for attaining your goals
If you find yourself veering off the path you’ve chosen for your entrepreneurial endeavor, or your life goal, it’s time to step back and reassess the situation. What steered you off the path you were following? Did the goals ultimately not align with your life? For some reason has the impetus for achieving a particular goal faded? Does it not matter as deeply as it originally did? Do you want to get back on that particular path or will that goal no longer serve you?
It’s never a bad idea to take a step back and assess your goals, especially if you find you’re no longer as hungry for them as you once were.
Do you have a dream of becoming your own boss? Are you being forced to pursue that avenue based on economic factors beyond your control? Are you retiring from one career but have no desire to remain at home and “be retired”? If so, you may be on the verge of taking an entrepreneurial leap.
Are there strategies you can take? Questions you can ask before you know “for sure”? Perhaps, and here are four critical items you will want to ponder before making any drastic lifestyle decisions:
- Have a plan — a business plan, that is. Don’t let the lack of a business plan keep you on a career path that isn’t fulfilling you, but again, don’t make a leap into business ownership without a plan in mind. A business plan doesn’t have to be a daunting task; it should have an outline of your strengths, weaknesses, opportunities, potential business partners, an outline of your “ideal client” and a list of your competition.
- Do you have, or will you need, healthcare coverage? If you’re a solopreneur a prolonged or catastrophic illness can bring your dream of business ownership to an immediate halt. Check into healthcare insurance coverage so that you’re prepared and insured.
- Do you have any savings to fall back on. It’s a rare business that provides the owner a living wage from day one — unless you have done your homework and built up a client base. If you are starting from scratch, make certain you have a savings on which to rely.
There are myriad other items that a new business owner will face, but these will give you a bit of information to mull over before making any drastic lifestyle changes. Are you ready to make the leap?