- Bad Time Management! Learning how to prioritize your time wisely is the key to finding balance and achieving success in both your home and business. Knowing how to work those 24 hours in a day we’re given will be crucial in navigating through business and personal without losing your mind.
Tips: Purchase a planner or scheduler so that you can write down all your important dates, to do lists, and meetings. Refer to it as often as possible. An effective tactic I use is, I put all of the harder to do tasks first, so that I am able to give enough attention to those. Putting the easier tasks first tricks me into thinking I’ve done a lot of work and can possibly take a break. So to prevent that, I tackle the harder things first and before I get burned out, I zoom through the easier tasks and end up feeling really accomplished.
- Your Approach! How are you presenting your products or services? Are you just throwing your business into your audience face without a reason as to why they should support you or do business with you? Then you need to reassess your approach. Your audience shouldn’t feel like you only want them to spend money. People don’t invest in products or you… they invest in a movement or brand they feel connected too.
Tips: How strong is your elevator pitch? What is the single thing you want your brand to be recognized for? If you don’t have the answer to those then you need to work on that now. If you don’t know specifics about the “who, what, when, where, and why” of your brand then it’s going to be a lot harder to convince someone to invest and support your business.
- You’re not using your resources wisely! Here are some complaints people give about not being able to achieve their dreams: Little to no money to invest into themselves, no one believes in their dreams, they’re not smart enough; they don’t have an audience, etc. If any of these excuses sounds like something you have said before, then I have great news for you. All of those excuses are myths and/or negative self talk you’re telling yourself to talk you out of your dreams. Every excuse above can be overcome and you’re just not using your resources wisely.
Tips: Depending on what type of business you have, there are usually some small business grants or loans available in your city. You can also use a talent or skill to make money on the side that will fund your dreams. Getting a job or a better paying job that will allow you enough money to pay for your bills and have enough to put towards your business. Even if you have to work two jobs, you have to do what you have to do sometimes in order to make it. You can ask you friends and family if there’s anything they pay other people to do, that you could do for them. Lastly, although I don’t recommend this option without having taken classes on financial literacy, you can apply for a credit card or bank loan to help you fund some of the bigger needs for your business. Moreover, my favorite saying I coined is “There are no problems, only solutions.” I truly live by that. If you live your life as a problem solver, you won’t have time to obsess over what you don’t have versus how to get it.
- Unrealistic goals! Many people feel like once they start a business that it’s going to be the end of all of their money woes. Well, that actually is the furthest from the truth. As a new business owner, you usually acquire more expenses/debt than profit within the first few months and/or even years. While entrepreneurship is a huge step towards financial freedom, entrepreneurship can be very arduous yet rewarding if you have a solid business plan in place. Nothing is out of reach with a so
Tips: To not become discouraged so soon or easily, set goals that you can attain through strategic planning. Map out your business plan and reassess it often, so that you know at all times where you are in your business and if you are staying on track towards your goals. Sometimes unforeseen issues may arise, so it’s also crucial that you’re able to think on your feet and keep pushing forward. Even if you have to stop to catch your second wind, that’s okay. But one of the worst things you can do to yourself is having unrealistic expectations without strategic planning and executing that plan.
Like I mentioned, there are a plethora of reasons why you may not be seeing desirable results. In retrospect, the good news is that once you identify the issue, you can then address it and adopt better habits. If you can identify with anything said above make sure you take heed to those tips and STOP LEAVING MONEY ON THE TABLE!
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