Everywhere we look there are distractions - our smartphones constantly encourage us to check on things that are happening in our 24/7 connected world; our team members want to bounce ideas around or chat about projects in a constant stream of engagement; our electronic meeting schedules remind us throughout the day of people to see and deadlines to make. We live in a world where there’s always another distraction to take us away from what we should be focusing on. But research points to a need to stop multitasking and working at a shallow level, and instead to focus our attention on individual tasks, and to remove the distractions around us until those tasks are completed. So here are four tips to cutting the distractions and getting the job done. Firstly, put your smartphone on silent and out of sight for the set period of time you have allocated to your task. Next, inform your team that you are not available for meetings or discussions during that time. Thirdly, switch off any electronic reminders or email alerts. Finally, be in the moment, just focus on the task at hand and it will get done quicker and less painfully.
Read moreAccept that there will be failures
How often as an entrepreneur do you find yourself spending precious time re-hashing mistakes or bad decisions you have made - over and over again? You are not alone! It seems that one of the hardest things for entrepreneurs to do is to stop pressing the replay button and to let that mistake or decision go once it has been made. It’s all about mindset - it’s important to learn from our mistakes and our errors of judgement, but then to move quickly on, incorporating those learnings as we go. As tech entrepreneur and founder of Dell Technologies, Michael Dell, says: “Recognize that there will be failures, and acknowledge that there will be obstacles. But you will learn from your mistakes and the mistakes of others, for there is very little learning in success.” Something to remember when you are tempted to press that replay button in your head and relive your latest mistake.
Read moreFocus on being productive instead of busy
Speaking about what it takes to build a successful life and business, best-selling author and serial entrepreneur, Tim Ferris, said, “Focus on being productive instead of busy”, and he has a point. As entrepreneurs we all have busy lives, that’s just a given, but if we really want to accomplish our goals we have to become more productive. It’s not about the number of hours worked, it’s about doing things that will move our businesses and lives forward. And, it all starts with knowing when your body feels at its most productive in the day - if you are a morning person, then harness those early hours of the day to tackle the most pressing jobs before most people have arrived at their offices. If you are more of an afternoon and evening person, then get your scheduling right to ensure you have quality uninterrupted time to work on your priorities, and squeeze in any essential meetings. Create a productivity checklist to review at the end of each day to ensure you have achieved your goals. Now, that’s being productive!
Read moreYou need a strategic roadmap
You would never set out on a journey to an unknown destination without a map, so why would you set out to build a business without a roadmap to take you to your end goal? When you fail to plan an efficient route to realize your long-term business ambitions, chances are it will take a lot longer to get there. So to ensure your business heads in the right direction with a minimum of detours along the way, it’s essential that you put a strategic roadmap in place, reviewing it frequently. A well-designed road map is like a GPS for your business. It keeps everyone moving in the right direction, at the right time, focused on the right objectives, with a clearly articulated vision. And it’s not just big established businesses that need such a roadmap; every business needs a route to success. So make your strategic roadmap an integral part of the way you run your business, it can be one of the most powerful tools you have to keep you and your team focused on the end goal and heading in the right direction.
Read moreMake your time work better for you
They say, “time is money”, but in your business day how often do you actually track the amount of time you spend on key tasks, and importantly, are you spending your valuable time on the things that actually bring in the revenues? Like many entrepreneurs, you might be surprised at just where your time is actually focused and it might not be in the right place. So how do you start making your time work better for you? Here are a few tips to ensure you maximize your valuable time in the business. Start by monitoring a week’s worth of activities, track time spent on each activity each day, and the return on investment of that time on each activity. Incorporate a digital time-tracking tool into the business so that everyone sets time completion goals for each activity and records it against agreed deadlines. The daily and weekly digital reports will highlight where improvements can be made or where certain activities need to be addressed differently. Knowledge is power and by incorporating a time-tracking system into the business, it’s possible to make time work better for you.
Read moreIs it time you hired a Virtual Assistant?
Most people think about hiring a Virtual Assistant when they feel overwhelmed by the routine tasks that stop them from doing what they really want or need to do in their businesses. And that can definitely be one of the signs that it may be time to hire a VA. However, another sign is when you find yourself spending a lot of time on tasks that don’t necessarily make any money for the business. It could be basic administrative tasks, or responding to emails, handling social media or updating the website. The bottom line is that if you’re spending more time on these small tasks than actually prospecting clients or working on projects that do bring in the money, then the balance of time and effort for return on investment isn’t right. So why not take a look at your business and make an honest assessment of what you’re spending your time on and what the value proposition is of that time spent. Ask yourself how many of these routine tasks could be handled by someone else. It may be time to start looking for a virtual assistant.
Read moreStay on top of your game
In the two diverse worlds of sport and business, the saying, ‘being on top of your game’ means you recognize the value of what you are doing, you have the edge, and you are determined to stay ahead of any competition. The trick is to make sure you don’t fall behind once you have gained this edge. One of the best ways to stay on top of any situation is to keep learning - whether that’s learning new skills, new business practices, new manufacturing techniques. It’s about welcoming change, embracing new ways of doing things, bringing new technology into the business, and accepting new information and using it effectively. By its very nature, business is always changing and successful entrepreneurs know that learning to adapt to those changes is key. Having the ability to quickly learn and apply those learnings directly into the business practically translates into a more flexible and agile business, better success down the road, and an improved ability to cope with the obstacles life throws in your path. As you learn, and as you apply the lessons in your life and business, you can stay on top of your game.
Read moreCelebrate what makes you and your business unique
Women entrepreneurs often spend too much time worrying about the competition, and not enough time focusing on what makes their business more attractive to customers in the marketplace. It’s a common trait, but one that needs to be avoided. Competition is a reality, but how you approach it is what sets you apart in business. Celebrate what makes you and your business unique, and remember that no other company or entrepreneur has your story, so leverage that fact with your customers. Acknowledge that we live and operate in a new economy, one that celebrates sharing and collaboration, so perhaps instead of seeing other entrepreneurs as competition, explore whether there is the opportunity to share expertise and collaborate to win new business. And importantly, stop comparing your efforts and results with those of other entrepreneurs. Everyone has a different business building journey they are on, so learn from others, celebrate and be inspired by other entrepreneurs’ success, and focus on your own journey. It’s a mind-shift that is needed, but one that is worth the effort.
Read moreUse being small and agile to your advantage
Every small business has probably experienced that feeling of being overwhelmed when trying to compete with bigger businesses. Yet often it is precisely being small and agile that wins the race. So how do you position your unique brand and business to win customers away from the bigger guys in the market? It starts with specialization, building a reputation for providing a product or a service that is unique or boutique, or that does things differently. Secondly, it’s all about the personal touch, having the opportunity to deliver a more personalized service, one that treats customers as individuals and creates a positive experience. Thirdly, communication is key, using that insight and knowledge of each individual customer to build up a regular touchpoint that in turn builds brand loyalty. Fourthly, smaller businesses are more agile, better able to respond to market conditions or customer needs, producing products or services that resonate. Ultimately, small businesses are at the heart of communities and can deliver unique customer experiences that big businesses cannot, so stop worrying about the bigger competitors and simply focus on what you do best.
Read moreOwning your daily schedule is always a challenge
Are you in charge of your daily schedule, or is it in charge of you? If you are one of those fortunate people who is naturally organized around your schedule and you make it work for you, then that’s great. However, there are many entrepreneurs out there who struggle daily with their schedule. So here are five ways to help you get to grips with it, and fast! Firstly, shorten your daily to-do list - if it’s too long, chances are things will never get done and that just adds to the daily stress. Secondly identify your priorities for the day and make sure you tackle those first. Thirdly, if meetings take up the majority of your day, something’s probably wrong. Determine which people need a face to face meeting, and which ones can be dealt with online, ultimately keeping all meetings short and to the point. Fourthly, take control of your email, use an email scheduling tool, and set aside designated times to deal with your messages. Finally use a calendar application, making your scheduling much more efficient. This should help you to reclaim your time and maximize your productivity.
Read moreKeep your entrepreneurial fire burning
We all know the saying, “love what you do and you will never work a day in your life” and this especially rings true for many passion driven entrepreneurs. But the reality is that the day to day grind of running a business can be just that in the early start up phase, a grind! You will be required to tackle endless, seemingly menial tasks that drain your creative energy, such as managing your customer lists, or doing your accounts, or marketing to find new clients. You will often find that there are just not enough hours in the day to complete everything you have to do. At times like these, you have to keep that entrepreneurial fire burning, focus on the passion you have for what you do, and keep your eye on the end goal you are trying to achieve. Yes, there will be days when you have to do things that don’t inspire you, but the trick is to find that fire and approach any task as though it’s the most exciting thing in the world. That fire will drive your business and it will pay off in the long run.
Read moreYour customers value the human touch
Have you noticed how much broadcast and social media talk, and how many newspaper and magazine column inches, are dedicated to talking about innovative technologies like AI and blockchain. And there’s no doubt that these have a lot of potential. But there’s a tendency to forget that the biggest trend in business is on how we understand and treat our customers and ensure we continue to meet their needs. New UK research indicates that consumers place a significant value on human interaction in the customer services process, with 87% reporting they tend to stay more loyal and increase their business with companies that offer a real person to talk to at the right stage of their customer journey. So while all this talk about innovation is exciting, there is no substitute for world-class customer service delivered by people who really care about the customer experience, who are responsive and open to listening to what customers really need. It’s why there’s nothing quite like the human touch.
Read moreFreelancers bring skills and expertise to the table
As every start-up knows, in the early days you have to wear many hats and fulfill many roles, it’s just part of the journey. But not every entrepreneur is a natural marketeer, or a talented designer and content creator, or a detail oriented accountant or business strategist. And, taking on a specialist workforce during the start-up phase may simply not be an option. So it makes sense to work with freelancers who bring their skills and expertise to the table and undertake individual projects or key tasks when needed. The advantages of this approach can be seen on both sides. The freelancer gets the opportunity to build a multiple client and work portfolio, and the entrepreneur finds a solution to dealing with non-core work demands as they happen, freeing up essential time to focus on the things that matter most in the business. Time is a precious commodity to any entrepreneur, so it makes sense to ensure that it is maximized by outsourcing to specialist freelancers when needed.
Read moreCo-working is now a part of our entrepreneurial lives
Co-working is rapidly becoming the norm in the world of start-up businesses. And it’s interesting to see how big business is also starting to tap into this way of thinking, with many of them setting up satellite offices for their innovation or intrapreneur teams in trendy co-working spots. As a result, co-working spaces are not only providing a sense of community for the independent entrepreneur who is looking to be part of a like-minded community, but also an inspirational environment for employees who want to think more like entrepreneurs. It makes for interesting and often dynamic spaces. Because they are often accessible 24/7 and people can come and go as they please, these collaborative spaces encourage interaction on what can often be an isolating entrepreneurial and intrapreneurial journey. Co-working is now a part of our entrepreneurial lives and thinking, and whilst it may not suit everyone, that sense of community created in these dedicated spaces is definitely a draw card for many. That’s why many businesses are now incorporating co-working into their strategies, seeing the value that can be generated from the experience.
Read moreStress management is a continual challenge for women entrepreneurs
There’s a big difference between starting a business and then successfully running and growing that business over time. It can be a hard slog with continual stress, pressure to effectively manage finances through the inevitable peaks and troughs, managing and developing your employees, retaining your existing clients and finding new ones, and still finding the time to innovate and develop new products and services along the way. It can be a lot to deal with, and unlike corporate employees, you can’t simply leave it all behind at the office each day when you are an entrepreneur. Stress management amongst entrepreneurs is a continual challenge. That’s why you need a really effective support network of fellow entrepreneurs, friends, family and people who can be there when you need them, to offer advice, a shoulder to cry on, a familiar face to have a moan to when the going gets tough, and a cheerleading brigade when you have something to celebrate.
Read moreChoose your team very carefully
It’s said that a business is only as good as its people, and in a startup, everything revolves around people. In those early days of building your business and developing your products and services, it’s essential to build the right team, and often that’s the hardest part of the journey. Make the wrong hiring or partnering decisions, and it can cost the business quickly, but get it right and build a team that works and thinks well together, and it can be the fastest way to success. This is a fact that most entrepreneurs underestimate. A dream team is made up of people who bring the right combination of skills and experience to the table, but most importantly, the right collaborative mindset and a winning mentality. It’s not just about bringing in as many people as possible in the early days in order to speed up the process, it’s all about getting the right people to the table and into the team. South African entrepreneur, Emma Kaye, founder of Bozza, has some great insights on the subject. She says, “You can see your company turn in a heartbeat from just a couple of bad people. So the most powerful thing for me is choose your team very carefully because your team is you. Always employ people who are far better than you at what you do, and empower them.”
Read moreWhen you take risks you learn
It’s often said that there is never a perfect time to start a business and make the bold move into the world of entrepreneurship, and that’s particularly the case when you are creating something new and innovative. But talk to any uber successful entrepreneur about what it took to galvanize them into action and start their businesses, and they will tell you that the prospect of never having tried was far more regrettable than the prospect of giving it their all and failing. Ultimately, that was the key factor compelling them to take the leap. We all know that there are no guarantees when starting a business, and that failure is often part of the journey, but surely it’s better to have tried and failed than to live with the regret of never having started. As Ellen DeGeneres so aptly says, “When you take risks you learn that there will be times when you succeed and there will be times when you fail, and both are equally important. It's failure that gives you the proper perspective on success.”
Read moreWomen entrepreneurs are natural skills coaches and job trainers
An overlooked benefit of women’s entrepreneurship to their economies is their natural strength as skills coaches and job trainers. Women are not only creating much needed new jobs through their businesses, but are also heavily invested in training up their staff. It is often said that the best kind of training is that received on the job, and it is here that women entrepreneurs are making an incredible contribution to training and skills development in their communities. It stands to reason that having created a job the entrepreneur has every reason to ensure the new hire is able to do that job productively and to the very best of their abilities. So whether it is a new sales person, a new machinist, or a new admin assistant, women entrepreneurs are not only creating the new job, but are also training up the new hire. And, because these women know people are their most valuable asset, they are more committed to training people than just about anyone else. In a nutshell, women entrepreneurs across Africa are not only job creators, they’re also great job trainers. It’s time policy makers start to recognize this fact and start to better support women entrepreneurs.
Read moreFind products your customers want
What makes some businesses succeed and others fail? Well, according to the CB Insights Survey, the top reason for failure is creating products or services that consumers don’t actually want or need. Tackling problems that are interesting to solve rather than those that serve a market need was cited as the No. 1 reason for failure in 42% of cases amongst the companies surveyed. Product "pricing/cost issues" and "user-unfriendly products" were near the top as well. Businesses fail when they are not solving a market problem and when they don’t understand what consumers need and want. It sounds simple, but if it was easy then everyone would be doing it. Success comes from solving a large enough problem, need or pain point that can be addressed with a scalable solution. As author and business guru, Seth Godin says, “Don’t find customers for your products, find products for your customers.”
Read moreBuild a great network of fellow women entrepreneurs
For women entrepreneurs in Africa, there are few things that will help you build traction in your business and support your growth aspirations faster than creating a strong network. It’s essential to have a great network of fellow women entrepreneurs for a number of reasons. Firstly, it can be isolating building a business, particularly if you are a solopreneur. Having access to a network that comes with a variety of specialist resources can increase your access to information, knowledge, expertise, advice, and importantly, access to opportunities to promote your business and brand to others. Secondly, if you work from home or are based in a remote area without access to face-to-face networks, then tapping into virtual online business networks means you can still connect with like-minded entrepreneurs and raise your business profile to potential clients and business partners. Another great way to build networks is to simply participate in specialist forums, e-mail discussion lists, and chat rooms that relate to your business or the type of customer you want to attract. Building a strong business network is key to success. As Robert Kiyosaki says, “The richest people in the world look for and build networks, everyone else looks for work.”
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