Three basic ideas that successful entrepreneurs learn over time that allow them to continually improve their productivity and achieve business results.
Natalie Lussier is an entrepreneur and host of the internet show Take Your Business Off The Charts.
Most successful business people work hard, devote a lot of time and effort to their business. But hard work isn't the only thing that makes them stand out and helps them stay successful. Here are three basic ideas that successful entrepreneurs learn over time to help them continually improve their productivity and achieve business results.
1. Ideas have an expiration date. Use them before they go rancid
This applies to both business and everyday life. If you have a good idea that you think is worth your time and effort, then launch it as soon as it comes up. In most cases, ideas arise from everyday events. This means that the idea that comes to your mind may immediately come to someone else's mind.
If you procrastinate and leave an idea for later, no matter how good it is, it will only be frustrating when someone else comes up with it. Also, some ideas only make sense for a short period of time. Execute them immediately, before they become irrelevant.
This, of course, does not mean that you need to start up raw ideas: any idea must mature before you put it into practice. You need to be able to consider an idea from several angles until you surrender to it.
2. Time to work depends on the task
In most businesses, all activities are divided into two types: invention and communication. It is important to allocate adequate time for both types of tasks, because business results depend on both. How much depends on the stage at which your business is. If you have a startup, then most of your time should probably be devoted to inventing and coming up with something. If you've been in the business for a while, you may find that the most important thing is to spend the time communicating with and managing the team or networking with partners and colleagues.
You may find it convenient to set aside some days entirely for invention and others for communication. But some entrepreneurs prefer to divide time not by days, but by hours, for example, starting with something creative in the morning, and switching to communication mode by lunchtime.
But the “conversational” type of tasks should definitely be separated from other tasks, because whenever you switch between different types of tasks, you need time to return to the productive zone. If you are writing something, it is better not to stop and not be distracted by calls, but to complete the project so as not to waste time on switching. The brain requires full concentration during the moments of invention, so time must be planned for this.
3. Choose a deadline - and let others control you
Nothing motivates more than external pressure, whether it be the influence of clients or colleagues and like-minded people. Most people make plans, but rarely follow through - because they are not accountable to anyone.
Choosing goals, setting deadlines and communicating them to people is already a big step towards achieving those goals. The people to whom you announce your plans must be genuinely interested in your business, and in addition, they must be able to hold you accountable by status. They can be employees, investors, and even buyers.
You need to plan carefully - only announce the tasks that you actually intend to do. That way, the people you talk to will take you and your business seriously, as keeping promises is an important part of building customer trust.
For some people who have no problem getting things done, planning and setting deadlines may be enough. But most entrepreneurs need this external pressure to push them to take action and help them get things done on time.
