1. A smart entrepreneur uses their time wisely
One of the biggest things that an entrepreneur can learn to help them be successful is time management. We’re not just talking about being on Facebook when you should be working on a business plan. We’re talking about spending too much time on one aspect of your business.
Sometimes entrepreneurs are really good at one thing: however, in order to make a business successful, an entrepreneur must focus on all aspects of the business in proportion to the appropriate needs in different areas of development. Knowing where to prioritize your time is actually a huge skill.
Of course, there are times when you need to focus on part of the business more than the others, and that’s totally okay. But make sure in the day-to-day affairs of your business operations that you are giving adequate time and attention to each unique part of your business. You don’t want one part of your business to suffer due to inattention.
2. A smart entrepreneur delegates
For an entrepreneur to go from start-up to commercial success, they must build a great team. Most entrepreneurs are used to doing most things themselves, however, the need to delegate is ever-present because, as we all know, you can’t be in two places at once. Plus, if you are constantly taking care of all the little details yourself, you don’t have time to do the most important thing: build your business!
Entrepreneurs must be smart about delegation, though. You don’t want to fall into the trap of relying on someone who can’t be relied upon. Make sure to understand who you are giving responsibility to and if they’ll follow through. Relying on a person that can’t be trusted is far worse than just doing things yourself. Entrepreneurs need to build a team they can trust and use technology in order to make their business successful and lucrative.
3. Entrepreneurs can hire employees that share their passion and work ethic
Although hiring employees and using technology may seem elementary, it’s really an artform. Entrepreneurs need to find the right people for the job and inspire them to move the company forward. Not an easy task. As a lot of people can tell you, your company is only as good as the people that work for you. Your employees, or team members, range from web developers to human resource professionals to marketers.
All of these people serve an essential purpose in your company. You can’t afford to do business without them. Make sure, though, that the people you hire fit well with your company’s long-term goals and objectives. And most importantly, make sure that the people you hire are in it for the long haul. As every entrepreneur knows, sometimes it can take a business a while to get off the ground. You don’t want to hire people that are scared by the slow start.
4. Entrepreneurs can use technology to increase productivity and save money
Each team member you hire is essential, however, if you’re smart about the way you use technology, you’ll find that using the right technology platform can take the place of employees, or even certain departments. In fact, if you think about it, good technology platforms are like robots that actually do work for you.
Oftentimes, the cost of using a technology platform is far less than hiring an employee to do the same job. For example, you don’t have to pay a technology platform a basic salary or benefits, or provide office space or equipment for it (as you would an employee). Most of the time, you’re simply paying for a service, or installation for a technology. For example, you can hire a virtual assistant to help you with business administration, sales, and even marketing.
Other examples of technology platforms are chatbots, emailing platforms and video camera systems.
- Chatbots: such as Chatfuel and Botsify, can be put on your website to engage customers and take the place of hiring customer service agents.
- Emailing platforms: such as HubSpot and ActiveCampaign, can handle all marketing communication and take the place of marketers.
- Video camera systems such as one by Lorex Technology , can handle surveillance and take the place of security guards.
As you can see, when you select the right technology, it can boost your automation and save you tons of time and many headaches.
5. A smart entrepreneur communicates consistently
When your business starts to get big, and even when it’s small, your internal communication is crucial. And without a proper communication system in place can become burdensome. There are many good work collaboration platforms, such as Slack and Trello you can use to communicate, but what about when you need to communicate off the clock?
This is where a good text messaging platform comes in handy. If you are communicating internally and need to get information out quickly, text messaging can be a lifesaver. Text messaging is so effective because most everyone has their phone on them near constantly. But how do you text message your team without spiraling into a group text messaging disaster?
You do what the pros do: use a proper text messaging platform that works like a CRM. Some examples are TextSanity and Tatango. These platforms allow you to text message as many team members as you need at a time, but each person receives the text individually. And if they reply, it’s only sent to you. Text messaging platforms allow instant communication without the headache of the group messaging disaster.
With modern technology and endless opportunities, being a successful entrepreneur never seemed so possible. Make sure you’re freeing up your time as an entrepreneur by making smart decisions on where and how you spend your time. Remember that time management is key to your success! Delegation, smart hires, useful technology and timely communication will help you use your time wisely.