Running a small business can be a fulfilling experience.
BUT (and that's a big but), it's no secret that it can be challenging to manage all the things that need to be done at all hours of the day.
We recently polled readers of our newsletter, The Weekly, and an OVERWHELMING majority (59% to be exact) said their biggest struggle as a small biz owner is Lack of Time / Time Management.
Now, if someone could figure out the whole time travel thing to give us back hours in our days, they'd be a very wealthy person. But short of any breakthroughs made in the study of quantum mechanics or whatever, we'll have to make do with the 24 hours we're given.
So, what do we do?
Small business owners have to fulfill several roles within their company, which is one of their most significant challenges. They are responsible for marketing and sales, customer service, bookkeeping,...
As business owners and entrepreneurs, we are often consumed by our passion for our ventures, working tirelessly to bring our dreams to life. And so it’s no wonder it’s so easy to neglect the importance of work-life balance. However, maintaining a healthy equilibrium between our professional and personal lives is crucial for long-term success and overall well-being.
When it comes to running a business (or life in general, really), two things nobody ever complains about having too much of are Time and Money. We can’t imagine any scenario where someone would turn down more of either. And yet, both are far too often squandered by small business owners.
Where money is concerned, it’s easier to track. You’ve got bank statements and budgets and cold hard numbers to determine where the waste is happening. It’s all very black and white; it just takes some leg work.
Time - more specifically, effective Time Management - is a bit more nebulous. A dollar is a dollar, but what one person can do with an hour is vastly different from what the next guy can do with those same 60 minutes. People work at different paces.
That’s why it’s critical you carefully evaluate your own time management skills on a regular basis. Time is a valuable asset, and you want to ensure you’re getting the best ROI for the effort...