With so much information and advice bombarding you from every conceivable source, how can a budding entrepreneur distinguish between real opportunities and mere busy work? Answering this one question correctly can literally mean the difference between being a massively successful entrepreneur or struggling in a state of unknown obscurity.
If you try to have a big presence on all the social media sites, comment on all the top blogs in your niche, listen to all the free training from every new launch, do all of your own SEO, design work, and content creation, how busy will you be? As an entrepreneur, time is your most valuable resource, and like everyone else, you only have so much of it.
Will doing all these things really grow your business?
Each of the things I mentioned can add to your overall growth when done correctly, but there is a downside. As an entrepreneur, if you spend too much time focused on those activities, you won’t have enough left over to do the things that really matter. Instead, you will be working twelve hours a day and not making any money.
Here’s where things get a little tricky. You probably do need to do some of these time consuming tasks unless you are in a position to outsource them. But you want to be an entrepreneur not a slave, right? So, how can you fit everything in and still have time for a life?
Choices need to be made, that’s how!
If you try to do everything you won’t accomplish anything worthwhile. You’ll be incredibly busy, but you won’t have much to show for it and eventually you’ll burn out. Correct me if I am wrong, but I am reasonably sure that your reasons for wanting to be an entrepreneur didn’t include working twelve hours a day, seven days a week, and making little or no money. And yet, that is exactly the experience many are having by following all the popular trends.
Instead of focusing on the latest flash, I prefer a more pragmatic approach. In every area of life there are always simple, profound truths that will outperform flash over the long run. Granted, when it comes to becoming a successful entrepreneur these simple truths may not seem very glamorous. Especially when compared to the lure of the latest get rich with the click of a button product, but they work and that’s what I care about.
As an entrepreneur, simplicity is your best friend
Complicated strategies can be intellectually appealing because they usually have a big wow factor, but I prefer to go with simple whenever possible. That’s what I have for you today, 3 simple, common sense solution for making the most of your time and effort on your path to becoming a successful entrepreneur.
1. Do more of what works. For an entrepreneur and a small business owner, all tasks are not created equal. Some activities make a direct or indirect contribution to your income, others are much less important with little or no influence to your bottom line. You need to distinguish between the two and prioritize you time and energy accordingly.
I’m not saying you can completely ignore everything that doesn’t grow your income. What I am saying is that the bulk of your time needs to be spent on things that you know are contributing to the growth of your business. Instead of chasing every new moneymaking scheme that comes along, identify what is already working for you and find a way to take it to the next level. The 80-20 rule works well for this.
2. Stop trying to be all things to all people. Thanks to the internet you may have a worldwide audience, but the whole world is not your niche. You need to figure out who your product or service resonates with and focus on them. As an entrepreneur or small business owner, it is much more effective (and profitable) to fine tune your message for a specific crowd rather than trying to appeal to everyone.
The world is a big place made up of thousands of specialized niches large and small. You only need a small tribe of loyal customers to be a successful entrepreneur. Avoid the temptation of the broad market because it will dilute the effectiveness of everything you do.
3. Personalize your approach. Would you rather do business with the impersonal corporate world or with a real person who is personally involved? Personal branding can transform an unknown entrepreneur into a wildly successful business person.
We all prefer to do business with those we view as authorities and those we trust. Personal branding makes it possible for an entrepreneur to fill both these criteria. When your audience feels connected with you in a deeply motivating way, they will be eager to do business with you.
Narrow your focus to grow your business
Crafting a business breakthrough strategy for my business coaching clients often requires a great deal of creative innovation. But before we move to that stage, we always cover the tried and true fundamental growth strategies first. These are the kind of strategies that should form the foundation of your entrepreneurial efforts.
If you do more of what works and less of what doesn’t, your business will grow. If you focus your efforts and attention on those who already need what you have to offer, your customer base will expand and so will your income. If you are transparent and sincere with your audience in a way that makes them feel connected to you and your message, they will support your efforts to become a successful entrepreneur.
As an entrepreneur, are you building on proven growth strategies? Have you allowed busy work to get in the way of success?
The lines are open!
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