Time and time again, the entrepreneurs trap.
Entrepreneurs have an interesting relationship with time. All humans do. When you think of it in the simplest of terms, your life is simply how you choose to pass the time you have.
As an entrepreneur, time takes on a whole new meaning and can. quite frankly, save you or end you.
Time management and productivity have been buzz words for decades, finding ways to ensure that your time is spent in the best way possible.
The way you spend your time is paramount to the health of your growing business and your own.
Time bring pressure and it’s necessary to let off steam and rest.
There are several internal and external pressures that affect your relationship with time. Your job, as an entrepreneur, is to find your optimal relationship with it.
The best, and in our opinion, only way to manage time is through daily routine. Let’s dive in.
Pace yourself – you define the right answer for you
Understanding the importance of consistency
We intentionally decided to pace ourselves with this podcast. We record seasons in 6-episode blocks and release them bi-weekly. This provides adequate time and space to source new quests, record insightful conversations, and post-produce killer content for our social channels.
Expertise – you don’t need to be an expert tomorrow!
Not knowing something can consume a lot of time and mental energy.
Understand your strengths or “zones of genius.” That is where you will add the most value to your business. We all are individuals and we can determine for ourselves what areas we need to develop and improve.
Remember: learning takes time. And, absorbing (and retaining) information takes repetition over a period of time.
You do not need to be an expert on everything. That’s why we outsource to specialists. It’s a valuable lesson to have a strong understanding of the things you don’t know, and then pass it onto someone who will bring your value.
Mistakes are part of the game – getting things wrong means you are growing.
Entrepreneurs come into their business with the knowledge and skills they have picked up along the way. We are humans and unfortunately for us, the way humans learn is by trying and succeeding or trying and failing and to be sure, the failing and making mistakes is the lesson to remember more acutely than anything you would pick up from a text book or indeed a podcast! Don’t see mistakes or “failures” as a waste of time. It’s the best use of your time.
“Mistakes are simply pieces of information.” - Gregg Goodhart, The Learning Coach
In order to memorize something, you actually have to work on it a while, and then take a break for your brain to retain the information. Check out Be Helpful Podcast Episode 22 with Gregg Goodhart.
Find your tribe – talk to strangers every day
When you talk to new people, you’ll discover new opportunities. Just a simple conversation can open up a whole new world of thinking. It just might be the key you were looking for!
Carving out time to talk to new people is critical as an entrepreneur, new people can help fill gaps in your strategies, give you motivation or sometimes, just giving you the space to say things out loud can help you solve your own problems. Honestly, try it.
Start with a side hustle (but know when you need to jump off) – there is wisdom in removing the financial pressures of full-time entrepreneurship
A quote from the Jesse Lee episode flipped the perspective – “my job is my side hustle”
The financial pressure of full-time entrepreneurship is a major driver of the time pressures – side hustling eases that pressure.
But it’s important to give yourself a timeline or deadline.
In our Be Helpful Podcast Episode 20, Ryann Dowdy talks about how working on her side business while maintaining a steady income separately drew out her timeline to go full-time, but also gave her time to be creative and be strategic Listen in at 24.15 below.
Not only is there financial pressure when going full-time as an entrepreneur, there is time pressure and emotional pressure. Brilliantly, Jay Stephens, owner and founder of My Wealth Journey took an entire month off when she began her business. She rested, took naps, and truly took the time to prepare by resting first. Listen to her tell it in her own words at 14:41 below.
Here are two exercises to help with time mastery as a side hustle or small business owner.
All the time in the world!
As an entrepreneur you carve out your own time plan.
It’s a simple exercise, but surprising. Look at a weekly or monthly planner. Start by blocking off human requirements (you are not a robot!).
What hours are you sleeping, eating, resting?
Do you have standing family or childcare commitments?
When might you want to go for a run, take a class, or go buy groceries?
Block out that time. Now look at your working week or month again. Be realistic with yourself. Also, notice which times of day you “flow” better. Should you reserve early morning or evening for creative tasks for example? Everyone is different, but noticing your habits will also help you maximize your time management and productivity.
Ask yourself
What fills you with dread?
There is usually some element of the business that you either don’t understand or don’t want to take on board or are quite frankly worried about.
Be honest with yourself.
It might be marketing, accounts or taxes.
Ask yourself if you want to take that on board or if your time would be better spent employing someone to take that element away so you can concentrate your efforts elsewhere.
A World of Tuesdays
This is one of my favorite podcast questions.
What do you want to be doing 5 years from now, on a Tuesday?
(A Tuesday because it’s a bit of a blah day – does anything exciting happen on a Tuesday?) How are you planning, or indeed spending your time to make that day a reality?
If you know what your Tuesday will be like, and can talk your way through how you might spend that day, then surely you could be putting in daily tasks (however small) to move you towards it.
Reading something,writing something, talking to someone, planning, plotting, learning... it might be time to set your sights on how you want to be spending your time, not just letting it slip through your fingers.
Time’s up!
Well, look at the time. We’ve gotta wrap this article. Let’s leave you with one last thought. Rabbit and the hare. Who won again? Oh yeah….
Go slow friend, and we’ll see you in the fast lane soon enough.
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