Edmonton Business Coach | Why You Can’t Just Work 40 Hours A Week
Business failure is at 50% and that is unacceptable according to the Edmonton business coach. It is our goal to help small businesses to succeed and change that number from 50% failure rate down to 30% failure rate.
The impact that has on families, and local economies is tremendous. This way we are so passionate about being the Edmonton business coach to help all of our small business clients when in business and in life. Industry Canada says that 15% of businesses fail in their first year, 30% failed by year two, and 50% by year five.
This is even optimistic as Forbes claims between 80 and 90% of every business startup fails in the United States.
Entrepreneurs are often surprised by how much effort it takes to start a new business and get it off the ground. Many had started in business by quitting their job because they’re tired of working so many hours not having a work life balance.
They are quickly shocked into the realization that rather than working 40 hours a week, there were 60 to 80 hours a week. Now creating the life that you want is going take extreme ownership and discipline by the business owner.
As an Edmonton business coach, we help entrepreneurs maximize their schedule and make time for those things that are really important to them the four hour workweek by Tim Ferris some great principles that can be used by any business and we recommend them.
Of course it is a myth that you can start a business and work for hours. Maybe after several years of working 80 hours a week you can work for hours a week on a business, but when you’re starting one, this is just not possible.
Batching your work is a wise thing to do as it saves time and and you can remain focused on that task for long time and get the maximum amount of work done. As an example, the batch our videos, and we also batch writing SEO articles.
Find things in your work that you can do multiples of at one time. This will save you a lot of time and optimize your schedule for effectiveness.
Another great concept from the four hour workweek is the MVP principle. A lot of business owners are trying to perfect their service offering or their products before they get out there and sell something. The problem being many of these business owners run out of cash or time before they start doing anything.
By having your minimum viable product ready to go you can afford to make adjustments along the way as you learn what customers like, and don’t like about your products and services.
A four hour workweek may be possible for the Connor McDavid’s of the business world, but for new entrepreneurs starting out it’s going to take many years to get to the point where you can work only four hours per week on your business.
A lot of people quit their job that they can work less hours and spend more time with family. Unfortunately, this is a common misconception amongst people with an entrepreneurial seizure.
Edmonton business coach | optimize your time to win
your Edmonton business coach will show you how to work the 80 hours required to make your business successful is by having a rigid schedule. When you have repeatable and rigid schedule, your family can plan your time around your work schedule.
The long-term goal for any business owner is to have more time to spend with their family and friends and doing the things that they really enjoyed. But this is not something that you will be able to do in your first year or two of business.
You can expect to work at least 3 to 5 years in your business before you can begin stepping away more often and having more time to yourself. This takes a lot of discipline and buy-in from your family.
Ask your Edmonton business coach how to optimize your schedule for maximum effectiveness.
The long hours at are required to create a new business is much easier when you’re passionate about what you’re doing. By having a strong desire and love what you do it’s almost like you’re not working at all. Because the hard and long hours that you put in seemed easier than when you were working 40 hours at your regular job.
Your Edmonton business coach is seen people who start a business only for the money. These people quickly get burned out and hate their lives because they’re doing it for only financial benefit and not because they love it.
Serial entrepreneurs who start multiple businesses started with their passion project first. Once they figured out how to create repeatable and duplicatable systems, they now see starting businesses that something that’s fine. Because they know what works and how to do it, they can start virtually any business and be successful at it.
When you are starting your new business take time to celebrate the small wins. Every day that you write a new checklist or develop a new system that will make your business run more smoothly, you need to celebrate those things. It’s not always the big sale, or the number of customers that you’ve acquired in a day or a week. You have to measure and appreciate all of the small wins along the way that are going to accumulate over time.
As Gary Keller says “time on a task over time eventually beats talent every time.” This is a very true statement. A lot of people underestimate what they can do in 10 years in the overestimate what can be done in one year. In this age of instantaneous response and input, people are very impatient and can’t wait for results.
Anything worth doing is worth doing well, and it always takes more time than you think it will.