Are you working for your business or is your business working for you?
One of the main reasons entrepreneurs start their own business is to have more freedom in their lives, to be their own boss and live life on their own terms.
After working and meeting over 5,000 entrepreneurs, I can tell you that’s not the case. I have seen their frustrations, disappointments, self-doubt and the less glorious side of entrepreneurship. As entrepreneurs, we have to work harder, skipped vacations and weekends happen more often than not, less time for friends and a social life becomes the norm and our mind never shuts down.
Although working hours and hours on our own business is more rewarding than working for someone else, we still need to be aware of how much we compromise for our business. I have seen many many successful entrepreneurs who lose their health, relationships and other important elements of their lives while building their business empire. This is what I experienced personally and I was lucky enough to take a step back and re-evaluate the meaning of Success to myself before it was too late.
My realization was that for the longest time, I was working for my business and I was compromising on the things that mattered the most to me. I felt that I wasn’t happy with the way things were going and I wasn’t really enjoying it. I realized that the freedom and flexibility of entrepreneurship is important to me.
If we are not careful, we will be always tied to our business, no matter how much we scale. As a matter of fact, I realized that most successful business owners, are actually more attached to their businesses compared to a start-up. They get more and more involved, to the point that their life is meaningless without their business.
Now I want you to look at entrepreneurship from another angle. I want you to think of a business that works for you, and not the other way round. A business that gives you the freedom of Money, Time and Choice. This scenario doesn’t happen as long as you are fully attached to your business and you are involved in every single decision that is made.
There are 3 steps that you need to follow to create a business that is not fully attached to you and it gives you a life beyond working and business.
1) Eliminate: There are many tasks that are not necessary to be done, eliminate them. This includes many meetings, phone calls, decisions and even products. Think of a 80-20 rule and focus on the 20% that gives you 80% of the results. Eliminate the rest to create more space and freedom in your life. Busyness doesn’t portray success. I know that this is a huge dilemma in our society that we associate being stressed and busy with being productive. You need a mindset shift to create more space in your life.
2) Automate: There are many tools available to entrepreneurs that automate their day to day tasks. Invest in creating a thorough FAQ and email responses for you customers to answer their questions. One of the tasks that successful entrepreneurs do is to create a system that runs without them. Automation helps to reduce the number of tasks that need to be done by a person and frees up more of your time as well as your team’s time.
3) Delegate: Delegation is an art and it requires practice. It’s definitely easier said that done specially if you like to be in charge and in control of everything to ensure the quality. You have to let go at some point, train your team and trust in them. Delegate any task that can be done by someone else so you can focus on the most important strategies for your business.
Every single week, ask yourself this question: What did I do this week that could have been eliminated, automated or delegated? Be aware of the times that you get involved in your business which is not necessary.
By following the 3 steps of Elimination, Automation and Delegation, you free up some space in your life which gives you the desired freedom of time. It allows you to enjoy the journey even more and to not lose focus on the important things in life.
As always, I will come live on Facebook on Thursday, October 26th at 3 pm GST/UAE to talk more about this topic and to answer your questions. Follow me on Facebook and I will see you live soon!