Are you an entrepreneur who is pressed for time?
Being an entrepreneur and maintaining a successful home-based business can be difficult and time-consuming. Success in a home-based business, however, necessitates time management skills, otherwise the necessary activities would be left undone, resulting in procrastination and a major "personal time deficiency".
Several studies have found that many first-time entrepreneurs devote too much time to "non-essential" business tasks, which have nothing to do with business and have minimal impact on business performance. After each professional day (when it eventually ends), they are left feeling stressed out, burned out, disconnected from their personal life, and, worst of all, unaccomplished and inefficient.
You've probably encountered entrepreneurs like this in your own life. They appear "busy" all the time, but they are constantly late for appointments, never have time to attend personal activities or outings, and are continuously anxious about what "needs to be done" every day!
A "personal time deficiency" happens when an entrepreneur appears to spend all of their time working on or thinking about their firm. Entrepreneurs may neglect family, friends, activities, and personal pleasures to focus on company functions. This is not only detrimental to the business (creativity comes through when entrepreneurs schedule time away from the firm), but it can result in personal losses for the entrepreneur. There are several horror stories of entrepreneurs' divorces, ruined family lives, and personal bankruptcy.
What is the cause of "personal time deficiencies"? Several factors :
1. An entrepreneur does not adequately organize every task during the working day, with a specific amount of time set aside for each business operation
An entrepreneur who does not have an active "work schedule" may feel unfettered and so spend too much time on some activities and not enough on others. If possible, all actions should be completed "on schedule" and within a specific time frame. Too much "fussing" about each exercise will result in very little progress each day. Neglecting other activities will leave you feeling unaccomplished.
2. An entrepreneur is easily sidetracked during the business day
Personal phone calls and activities must be kept to a minimum. If an entrepreneur worked for someone else, they would not have the luxury of "dropping everything" and going shopping or out to lunch unless time was set aside for it! Furthermore, family members and friends could not drop by and "visit" whenever they wanted. A work-from-home business should be treated like any other form of employment, with no personal distractions!
3. A lack of a concise business plan that properly defines business operations that must be accomplished in an ordered step-by-step manner and that requires certain accomplishments within a specific timeframe
A business plan is vital for success in any work-from-home business, just like it is in larger firms. A business plan is the "blueprint" for determining "where" a business is going and "when" it will arrive! A strong business plan will include weekly, monthly, and annual growth objectives, as well as planned implementations to achieve those goals.
4. An entrepreneur lacks the self-motivation to "be their own boss"
The right mindset is half the battle when it comes to establishing a successful home-based business. Before company organization takes place, the gap between "employee thought processes" and "business owner processes" must be closed. Motivation is different in an entrepreneurial enterprise because there is no "boss" hanging over the entrepreneur, ensuring they complete the assigned responsibilities each day.
5. An entrepreneur does not deliberately "separate" business and personal time in their ideas, and they arrange their personal time as well as their company activities
Personal time will replenish and revitalize, not detract from the success of a home-based business. It is vitally necessary to arrange personal activities for each day and keep to those plans. This is an emotional health issue that every entrepreneur should consider since it is all too easy to become obsessed with the business to the exclusion of everything else.
Overall, all of the aforementioned variables must be addressed in order to maintain an entrepreneurial lifestyle. Entrepreneurship is unquestionably an "atypical" lifestyle. It is a lifestyle that requires more effort and determination than other sorts of lifestyles. This lifestyle allows for the balance of time and energy, albeit it may take some time to attain. When a balance is reached, "time starvation" will gone!