Successful business people eat, breathe, sleep, and wake to what they do as a business. Worries about the execution of the business, about the cash flow, about the customers, about paying your employees’ salaries, and about not breaking rules and regulations, all continue to run through the minds of entrepreneurs like clockwork, in a non-stop cycle. You cannot suddenly switch off when you go home from the office or when you are engaged in some other activity. Things related to the start-up will always be at the back of your mind. Mr Inderjit Singh – The Art and Science of Entrepreneurship.
Like people say, being an entrepreneur is a 24/7 affair, and anything short of this means one is not fully committed and will not have the time to resolve all the issues and execute all the plans necessary to create successful businesses. You may not be on the shop floor, but you will be constantly thinking about ideas and ways to improve your business.
Of course, you should not be in the office or on the phone all the time. You need to balance your life, family, community service and other leisure activities in addition to your work, to help keep you sane. We are also not suggesting that you put in the hours just for the sake of putting in the hours. This will result in a sheer waste of time.
Particularly, in a start-up, no one watches how many hours you put in, but what they do watch are the results you produce. Focus on finding better ways to run your business, spend less time doing menial and time wasting activities and spend more time with productive work. This is how, many people cut down the time they do work. But to be frank even if they are away from the office, entrepreneurs will usually have their business at the back of their minds, and these thoughts can get activated at any time, not only when you are in the office. You need to understand that in order to reap the benefits, time, effort and perspiration have to be invested into the business, and there is no other way to do it right, especially in the early stages of starting and growing a business.
Learn to be more productive and to cut away menial tasks on your lists. Delegate some of the non-important work away and stream all your processes constantly. You need to strive to keep a lean company with very efficient processes. There is no need to be in the office from 9-5, or even to clock those hours. There is a need to produce results at an efficient cost (be it time or money).
The “no shortcut to success” mantra also means you have to go through the whole mill of planning your business. This includes making your business plan, looking at the risk factors, figuring out your financials and cash management, choosing and deploying a good team, researching the type of competitors you will have to contend with, being aware of the rules and regulations, and many other things. There cannot be enough emphasis put on this. The better you plan and the more areas you cover, the more details you look at…the better the chances of success. Of course you cannot plan 100% but the more prepared and informed you are, the better decisions you will make.
Be prepared to do all these things, and guess what, your mind will be running 24 hours a day, to get these things done.
This mantra of “no shortcut to success” does not apply only to entrepreneurs, but actually to anything in life. Whether you want to develop a good family relationship, a successful career, or to excel in sports or anything else, you just have to put in the time needed for success to happen.
Because people only tend to listen to all the success part of the stories, they tend to forget the hard work and the struggle aspect and think they can do it with minimal effort because others seem to achieve success so effortlessly. The issue is that the “grass always seems greener on the other side”, and people always think that others have become successful with a lot of ease.
Put in the hours, put in the effort and even though it will take some time, you will see great benefits and rewards that will make it seem all worth it.