5 Things Every Entrepreneur Should Know

Every successful entrepreneur knows the power of balance, and the necessity of time management. Need a reminder?

To the salaried masses, being an entrepreneur may seem like a magical dreamland, where time in an office is optional, days are spent following dreams, and you are your own boss. Entrepreneurs know that while this is true, there are many other challenges that come with the territory. Here’s a reminder of how to stay on track…

  1. Don’t burn out
    Perhaps the most important of all the entrepreneurial rules, because once you’ve worn yourself out (physically, emotionally or mentally), your business is in trouble. Remember that old aeroplane rule of always putting your own oxygen mask on first: you won’t be any good to your company if you don’t take time out to recharge.

  2. Recognise that you won’t get everything done today
    Unlike an office job, there is never an end to an entrepreneur’s To Do List. Recognising this, and making peace with the fact that some things will only get done tomorrow, will make you far more effective and focused today.

  3. Eat the ugly frog first
    One of the most effective time management tools, this handy little phrase can save you an enormous amount of time, and energy. You know that one thing you have on your list that you absolutely don’t want to do? Do it first thing, before you’ve even had your first cup of coffee. That way, the feeling of satisfaction will follow you throughout the day, and you’ll have freed up energy to focus on other tasks.

  4. Chunk your time
    You are only one person, and odds are you have at least five people’s work to do. So the only way to do that is to make sure each day is used most effectively. If you have to go to a meeting, schedule it for first thing or last thing in the day, so it doesn’t take up unnecessary productive time. Better yet, schedule a full day of meetings and spend the rest of the week doing your own work. When you get an email that needs a response, reply to it immediately. Need to get more input before you can reply? Get that input right now, while you’re thinking about it. Putting off tasks – especially emails – only serves to eat up precious time later, when they’ve snowballed.

  5. Take time out

    Closely related to ‘Don’t burn out’ but slightly different – taking time out involves remembering to exercise, eat well, spend time with friends and family, and unplug from work (and technology!) It’s difficult to remember to do when your work is your passion, but absolutely essential. You know that a break can give you a surge of fresh inspiration – don’t cheat yourself out of that.