EMPLOYMENT & SIDE HUSTLE

3 Steps to getting more productivity out of your workday

2020-02-27T19:11:10+01:00 January 30th, 2020|Categories: EMPLOYMENT & SIDE HUSTLE, Entrepreneur Life, startupgold|Tags: |

BUSINESS MANAGEMENT


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Does it ever seem like there are not enough hours in the day?

You feel like you are busy pushing through tasks in your business, wearing too many hats and constantly spinning plates, yet so much gets left undone.

If only having more hours in the day was an option!

Thankfully, it might actually be an option, in an indirect way. It is possible that you aren’t getting as much done in your day because of how you manage your time and what you are prioritising.

As we continue into the year, many of us are setting out our intentions and goals for success.

Follow these steps to get more work done in a day. Practise effective time management, increase your efficiency and add productive hours to your work day.

The next cohort of The Business Builders LAB starts March 2nd.

Enrollment now open for businesses that need the skills to build confidence and attract their ideal customer, convert them to fee paying clients and build customer loyalty.

Click to visit the builders page below and get more information.

LEARN MORE ABOUT THE LAB

1.     Create a task list. 

A task list is necessary if you want to ensure maximum productivity.

It’s a great way to get a snapshot of your plans so you know what’s ahead of you.

It is not about overloading your task list or trying to add on as much as possible. It is really about taking time to identify….

  • The tasks you think you should prioritise
  • The tasks that allow you make the most impact on your goals
  • The tasks that are best use of your skills, time and expertise.

Creating your task list is somewhat like mind mapping.

To get started, write your to-do items down as they come to your mind. Give very little consideration to the size of the tasks at this point.

As you review your task list, you might find that it contains activities you do not necessarily need to work on or can assign to others. That’s great, this will give you some hours back in your day.

Your task list helps you get some control of your day. It’s a great way to develop the calmness you need at the beginning of each day. You’ll find it much easier to cope with stress when you have your tasks listed.

A written task list on a notepad the traditional way is fine or you may want to consider using a software or App like Monday.com, Asana or Trello.

2.     Prioritise responsibilities. 

 The items you listed on your task list are all important. But some are more important than others? You bet they are! To make the best use of your time, it is important to organise them accordingly.

Prioritising items on your task list helps you allocate your time and effort based on the significance of each task.

Naturally, you would want the things at the top of the list to get most of your time.

It is recommended that you consider your own priorities only and not the one’s you feel compelled to do for other people. Sure, everything requires your attention, but avoid ranking someone else’s urgency above your own important tasks. Remember your hours are precious!

Once you’ve prioritised, take some time to consider whether you can truly give everything your full attention.

The things that aren’t as important may need to be moved to another day, perhaps delegated (if you have a support staff), outsourced or even dropped.

As you do this, don’t forget to consider using technology to automate tasks where possible.

3.     Allow yourself to focus. 

If you think you are on track after prioritising, think again!

What comes next is ensuring you develop the focus needed to work on each task you’ve listed.

Sometimes creating a task list gives a false sense of being in control of what needs to be done. But remember that you’re aiming to extract more hours from the day. That’s going to involve focusing on each item as you get to it.

Focusing prevents external factors from affecting your ability to concentrate on the task at hand.

It means taking only the necessary breaks and knowing where distractions need to be minimised.

This simple three step formula allows you gain extra hours each day. Give it a try and see how much more productive you can be. Remember time is free, but it is priceless.

Pretty soon, you will be achieving more, growing your business and reaching your potential all because you took five minutes to read this post and follow these steps to get more work done in a day.

Have you signed up for the next Business Builders LAB?

A three week program for you to build up the skills you need to attract your ideal customers, convert them to fee paying clients and retain their loyalty as your business grows.

LAB opens on March 2nd.

Improve your business income in 2020. Click the button below to get more information and enrol.

What to do if you are planning for a career growth in 2020

2020-02-01T14:13:53+01:00 January 3rd, 2020|Categories: EMPLOYMENT & SIDE HUSTLE|Tags: , , |

EMPLOYMENT & SIDE HUSTLE

There are some great things about working in the corporate world. Paid holiday and time off sick, a steady paycheck, employer bonuses and pensions, free training….. and if you work for a global company you are likely to enjoy other perks of the job particularly as you move up the management chain.

If you plan on moving on up in 2020 by all means pursue the best salary and compensation you can get in the market but there is one thing you should also really pay attention to if you are indeed looking to grow your career.

Your career should give you room to grow your skills, exposure and experience in the business world. Skills that you can use run a business as a manager or a founder.

Most big corporates have large teams behind every work activity needed to service a customer. The product team focuses on product development, the marketing team focuses on marketing, the sales team focuses on sales and it goes on and on to the ordering team, client relationships team, project teams, billing, support……

As an employee you are likely to pick a job in one of these teams. Depending on what you spend your time doing you could be doing the same activity over and over again and not necessarily expanding your business skills or improving your career.

The next cohort of The Business Builders LAB starts March 2nd.

Enrollment now open for businesses that need the skills to build confidence and attract their ideal customer, convert them to fee paying clients and build customer loyalty.

Click to visit the builders page below and get more information.

LEARN MORE ABOUT THE LAB

If for instance you joined the support team you could become really good at solving client issues and customer service over time but if you have no awareness of how other functions of the business run then you are only good enough to work in a support role and would never understand the bigger dynamics of how a business works. This limits your ability to move on up into management roles or run a business if you decide to venture out as an entrepreneur.

Interestingly startup businesses today are more likely to provide opportunities for learning on the job. Smaller numbers of staffs makes it possible for employees in startups to wear multiple hats compared to their corporate counterparts where there are tighter policies and controls on employee access to various parts of the business.

The downside of working for a startup though is you may not necessarily get the huge compensation packages and bonuses that large corporates provide. You could also find yourself out of a job as a startup is more likely to let you go if the business starts to face difficulty as opposed to the more established large corporate.

I had a conversation with a recent graduate who works for a startup. She was employed to work with their procurement and supply management team. In her three years with the company she has not only been exposed to working with suppliers but also the business’s investors and clients. Though she has no budgetary responsibilities for the business yet, she understands the dynamics of running the business and can think outside the box of the procurement role she was hired to do.

Now think of someone hired in the same role in a large corporate. Are they likely to have the same level of exposure? Given another five years of working this way at the startup and large corporate which employee is likely to have developed their career into skills that makes them more marketable and better positioned for senior role?

Is there a trade off between the two? Work for a startup, get some good business experience but earn less? Or work for a large corporate, get a sizeable package, the perks and bonuses but work in a silo and not learn much till you retire or are made redundant?

The good thing is you can get the best of both as you plan to grow your career in 2020.

If you work for a startup, stay close to the people that make the decisions. That’s the great thing about being in a startup. Only a few people make up the team of “executives” and employees so regular communication from bottom of the chain up is easier.

As an employee at a startup, aim to stand out with your work performance. Startups can’t afford to lose their top talent. Your performance and relationship to the decision makers puts you in a better position to negotiate your salary and compensation. 

If you work for a large corporate, hopefully you are already getting a competitive salary and compensation for the role you are. Look to expand your skills by requesting a job rotation or shadowing people in other roles. Most times if you do not ask you do not get.

As an employee in a large corporate, look to expand your business knowledge and experience by understanding what goes on in other departments. You will find this invaluable as you move into senior management or start to run your own business.

Have you signed up for the next Business Builders LAB?

A three week program for you to build up the skills you need to attract your ideal customers, convert them to fee paying clients and retain their loyalty as your business grows.

LAB opens on March 2nd.

Improve your business income in 2020. Click the button below to get more information and enrol.

Leaving your corporate job to run your own business

2020-02-01T15:25:50+01:00 April 1st, 2019|Categories: EMPLOYMENT & SIDE HUSTLE, Entrepreneur, TheStartUpGold|Tags: , , , |

EMPLOYMENT & SIDE HUSTLE

Have you spent years climbing the corporate ladder and made good progress but a continuous nudge to focus on developing your business idea overshadows your corporate ambition?

For some handing in a resignation can be the most liberating feeling, for others walking away from a developed career and constant stream of income is a mixed feeling of anxiety, fear and self doubt.

The higher you are in the corporate world, the more difficult it is to walk away from all you’ve achieved and start on your business.

So at what point is it right to make the transition from your paid employment to focus on your business? Simply put, there is no perfect time. You make the decision and take the bold step out of the corporate world to build your dreams. You can however reduce the risks of exit from your paid job and increase your chances of success by preparing for the business journey ahead.

Here are things to consider when leaving a corporate job to run a business.

Decide on your life goals and ambition

It is important you become self employed for the right reasons. If you pursue something you are passionate about such as creating something or solving a problem and you enjoy making your own decisions, working for yourself and building your own legacy then you are more likely to find the motivation to keep you going during tough times of running your business.

Review your personal circumstances

Ensure you have reviewed your finances and have a plan to sustain your livelihood as you scale your business. You may need to make cuts and adjustments in your lifestyle to fit your budget. A savings of at least six months of paid income would give you a good buffer on your personal finances as you work on monetising your business.

Have a separate plan to finance your business costs and be diligent about keeping track of your spend.

Remember profits from your business isn’t always guaranteed so having a cushion you can fall back on during dry spells is key.

Build your business plan

Your business plan needs to be ambitious enough to keep you motivated and energised, you also need actionable goals to get you started on generating an income for your business. Consider the actions you need to get your product or service to market, acquire customers and close sales.

Do enough research to understand the market and build a viable plan with a high chance of success.

Start while you are still employed

This is the path a lot of founders take to grow their business. Asides from received a steady dependable source of income to help with your finances as you scale your business, you are also in a position to test the market and your business plan before venturing out full time. It is important though that you ensure there are no contractual or work conflicts with your business and employment as you do this.

Build your Support System

This includes the people in your inner circle that will keep you motivated and balanced as well as the habits you need to maintain to be a successful entrepreneur. Stress management, time management, your social networks, health and wellbeing are areas you need to be mindful of as you build a support system.

In addition consider the professional support you will need for your business. Legal and taxes are areas you do not want to gamble on, so you may need the services of a lawyer, book keeper or accountant. It may even be necessary to get some professional support in areas that allow you more time to focus on your business, such are marketing or administrative services.

Have a back-out plan

By this I don’t just mean an exit strategy for your business when it becomes profitable. If your business idea fails consider the options you might want to pursue to either try again if you still believe in the idea or a completely different idea you might want to pursue. This might even mean returning to paid employment while you work on rebuilding.

Decisions are not always easy. Leaving your corporate job to run a business is a decision only you can make. You can however prepare for the unknown keeping all of the pointers mentioned in mind.

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