We know. It’s not easy.
Just like everyone else, you are given the same 24 hours in a day to make things happen. What do you do with those 24 hours? That’s the million dollar question.
How do successful entrepreneurs make it happen? How do they seem to accomplish so much more than other people when give the same amount time in a day?
Here are four critical tips to staying ahead of the competition, courtesy of CBS Corporate Business Solutions consultants. While these tips may appear to only benefit the newbie, they are just as valuable to the seasoned veteran.
Embrace the Power of Delegation
First and foremost, it’s important to understand that you cannot do everything yourself. Not only will you drive yourself crazy, but you’ll also deliver a lower quality product if you put all of the weight on your shoulders.
While you’re wasting time juggling the myriad of tasks, your competition is blowing right past you.
How can you reconcile this? Easy. You must learn the power of delegation.
Delegate (verb): entrust (a task) to another person, typically one who is less senior than oneself.
You need to first understand that you can’t tackle everything alone. As a small business, it’s imperative that you put the proper people into place, each of whom are connoisseurs in their respective fields.
Rather than being the best, learn to surround yourself with the best.
Build a Powerful Team
Knowing that you cannot do everything on your own, learn to attract and retain employees who are great in their areas of expertise. Similar to a successful sports team that contains elite players at each position, a thriving business needs experts within each role.
Take time to build an elite team that is reliable, focused, and goal-oriented. This foundation will allow you to scale your business in due time. Also, don’t forget to consider remote team members as well. This is something that many businesses are exploiting as technology continues to grow.
Connect with a Diverse Group
It’s important to understand the power of networking with entrepreneurs who may not be in your industry. Think of it this way: all entrepreneurs have some novel idea or successful practice to bring to the table. Outside of that, successful entrepreneurs have a tremendous amount of experience. This is something you should value highly.
While a particular entrepreneur may not work within your industry, it’s possible he/she may give you the best advice. This is something on which you do not want to miss out.
Hire a Virtual Assistant
Rather than devoting all of your time to working in your business, focus on working on your business.
Virtual Assistants are reliable when it comes to things like customer service and social media management. Above and beyond that, they can also help you with paying bills and scheduling logistics. These are tasks that, when delegated to a VA, will free up your time to work on and grow your business.
Don’t forget – it’s important to train your VA properly.
Keep these tips in mind as you continue to grow your business improve efficiency over time.