In short, this list is a compilation of 12 things entrepreneurs say are invaluable.
The “this concerns the physical location of a business store” is something that entrepreneurs say are invaluable. The list includes things such as customer service, employee training, and physical location of the company.
What do you like doing?
You know what I’m talking about—that thing that allows you to perform at your best.
It assists you in being more productive. It makes accomplishing your tasks seem less difficult. It’s that little trick you have up your sleeve for getting things done and managing duties.
Mine is a list-maker. I can’t begin a task without a good, solid, pen-and-paper to-do list (no apps for me, please—this is one area where I stick to the old school).
Most business owners have at least one.
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It’s that one small secret or tip that helps them better manage their firm, makes things go more smoothly and effectively, and simply makes them a better entrepreneur in general.
What is one item that you definitely must have in order to manage your company?
I asked the members of the Young Entrepreneur Council to choose one item that helps them operate their businesses.
After all, we all know that having a business plan helps you operate your firm, and that keeping track of your cash flow is important.
But I was looking for something more. I was curious as to what makes these business owners tick.
What’s the greatest part?
These concepts are completely plagiarized.
So go ahead and see what these entrepreneurs consider to be essential in operating their businesses, and put them to the test for yourself.
Do you engage in any of these activities? Did putting them to the test help you operate your firm more efficiently? Please let me know your thoughts.
Additionally, see How to Hire Your First Employee.
1. Getting feedback from your staff
Your most valuable asset is your workforce.
They see an aspect of the company that you may overlook. They are constantly exposed to your goods and may have a wonderful suggestion for its enhancement.
So, are you utilizing this resource, or are you taking it for granted?
Employee feedback, according to Mark Daoust of Quiet Light Brokerage, Inc., is “the most precious asset” he has in his organization.
“I don’t make any big choices without contacting several individuals inside my firm,” he adds, despite the fact that he is the only owner of the company.
“They perceive the company from a totally different perspective, which I just don’t understand,” he continues.
2. Making time for your personal life on your calendar
It’s natural for your personal life to take a second seat when you’re just starting out.
You may have slacked on time with friends, date night with your spouse, or simply time for yourself in your haste to get your company up and running.
It’s crucial to arrange time for your life outside of work after you’ve established a bit more regularity.
“Personal appointments should be treated just as seriously (if not more seriously) than the business ones you have scheduled,” Crowd Surf’s Cassie Petrey adds.
“When I schedule a meal with friends, a movie date with my lover, a dental visit, or attending a wedding, such times are absolutely inaccessible for meetings.”
While it may be difficult to follow at first, it is sound counsel.
It will not only make your life seem more balanced, but it will also help you look forward to working on job assignments rather than viewing them as a duty.
3. Making use of Trello
We adore Trello, I’ve said it before, and I’ll say it again.
What’s not to like about a simple, easy-to-use project management system?
We’re not the only ones who think so; Marcela DeVivo of National Debt Relief endorses it and uses it in her company.
“All of our tasks are tracked and prioritized using Trello,” she explains. “It gives you an overview of what each team is working on and what tasks are still outstanding.”
You can also keep track of your chores while on the road. “We can always remain up to date with Trello since it has a smartphone app,” Marcela explains. “And the interface with Gmail allows us to submit tasks directly from email to Trello.”
4. Wearing a wristwatch
Would you look at your watch if I inquired what time it was?
An real watch, not your smartphone.
I’ll be the first to say that I haven’t worn a watch since I was a child (and even then, it was the multicolored, gel kind, which isn’t exactly professional or polished).
While watches are no longer a common sight on most people’s wrists, ZinePak’s Kim Kaupe recommends that we get back into the habit of wearing one.
“It may seem simple, but having a watch and referring to it is essential,” she explains. “Being able to stick to a rigid schedule is vital in the life of an entrepreneur.”
Not only can wearing a watch help you stay on track with your schedule, but being punctual may also benefit your professional connections. “I’ve seen more business meetings go apart before they even begin because someone arrived 20 minutes late or ‘forgot’ a conference call,” Kim adds. “In order to operate a successful company, you must respect others’ time and manage your own.”
5. Meeting agendas created in Google Docs
We’ve all sat through meetings that seemed to go on forever.
While your team meetings were most likely created to keep everyone on the same page, they may quickly devolve into a weekly waste of time.
Leadnomics’ Zach Robbins suggests using Google Doc agendas to keep meetings on track. “It may seem ridiculous, but our Google Doc agendas aren’t for the purpose of having a note to distribute afterwards,” he explains. “They provide a framework for ensuring some amount of meeting effectiveness, as well as a suitable balance of rigor to ensure we’re executing the greatest priority,” says the author.
Not only that, but they enable his staff to keep track of vital details for future reference. “They’re a terrific method to keep track of action items so that ideas, approaches, and objectives don’t get lost in the shuffle,” he says.
6. Practicing meditation
Is your happiness getting the attention it deserves?
IFunding’s Sohin Shah disagrees with the popular belief that seeking personal pleasure is a trivial, “when there’s time” endeavor.
“People may dismiss happiness research as a frivolous hobby, but it is the purpose of our life as humans,” he argues. “The quest of pleasure is more than just a game.”
Not only did meditation assist Sohin in reconnecting with his happiness, but it also aided his business.
He explains, “In fact, it’s how I became a better entrepreneur.” “The indication of a strong leader is maintaining your calm when you’re uncomfortable—with a genuine grin on your face.”
7. Keeping a consistent culture
When everyone gets along, running a company becomes considerably simpler.
Not only will your workers love going to work, but they’ll also stay longer and be more involved in the firm as a whole if you foster and maintain a healthy corporate culture.
EVENTup’s Jayna Cooke states, “I think a company’s culture begins with the individuals who make up the workforce.”
Jayna advises business owners to employ with the corporate culture in mind.
“Before employing somebody, I make sure that the person will be a good fit with the rest of the team.” “You spend the majority of your time with these individuals, so it’s crucial to want to be with them,” she explains.
Jayna’s business runs more easily when she works with a group of individuals who love each other’s company.
She continues, “I want my staff to regard their colleagues as friends.”
Also see: What Characterizes Your Company’s Culture?
8. Keeping up with the latest industry news
Are you guilty of a bit too much navel-gazing, too?
While it’s easy to think of your company as a microcosm, Mebo International’s Kevin Xu advises expanding your horizons.
He adds, “I depend on news and updates on global health-related concerns that need to be resolved.” “I believe that owning a company entails a duty to assist the community.”
Keeping an eye on your local neighborhood might be beneficial at the very least.
You’ll not only keep educated and aware of how your company may best serve your neighborhood, but you could even be able to draw inspiration from your community.
“Knowing what the community need allows you to develop ideas for new projects or activities that solve the concerns while also raising corporate recognition,” Kevin explains.
Being active is number nine.
Don’t make the mistake of thinking you’re too busy to exercise.
Physical exercise that you like is not only excellent for you, but it may also help you be more productive.
“I’m a huge believer in getting up at 5 a.m. and going to the gym before 6 a.m.,” says Fitmark’s Mark Samuel. “I can’t recall the last time I didn’t stick to this schedule.”
His commitment is seen in the way he does business.
“It requires discipline and dedication to live an active and healthy lifestyle, and it creates a synergy between enjoying life and operating a company,” Mark explains.
“You can’t operate a company without discipline, and you won’t be successful until you give it your all.”
Having a strong leadership team is number ten.
Choose your leaders wisely since they will set the tone for your company’s culture as well as its structural integrity.
“Having the right team makes all the difference,” says PK4 Media’s Tom Alexander. According to Tom, one of the most important aspects of having a successful company is the people you surround yourself with.
“I wouldn’t be able to expand the company with the same confidence I have today if it weren’t for our management team,” he adds.
11. Metrics tracking
At Palo Alto Software, we’re keen on numbers.
Last year, our CEO, Sabrina Parsons, gave a fantastic webinar on monitoring small company data.
So we’re right there with 858 Graphics’ Brandon Strapper, who claims to have “stats for everything at my firm.”
Brandon explains, “These parameters include labor cost, material cost, lead time, sales, and so forth.” “Everything in the company is measured and displayed in real time.”
12. Taking time away from the workplace
What if everything else fails? Take a walk outdoors.
Fan Bi of Blank Label observes, “Conventional wisdom applauds insane work ethics.” “There are legends of all-nighters, sleeping beneath desks, and working 100-hour weeks.”
Is this, however, a good way to generate excellent ideas?
Fan isn’t convinced.
“Oftentimes, it’s time spent outside the workplace that leads to the most significant insights,” he adds. “Whether it’s reading, meeting with another entrepreneur, or taking a stroll,” she says.
“The ability to zoom out and think deeply is vital for operating a company,” he continues.
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“Best books for entrepreneurs” is a phrase that many entrepreneurs say are invaluable. There are 12 different things entrepreneurs say are invaluable. Reference: best books for entrepreneurs.
Frequently Asked Questions
What are the 12 characteristics of successful entrepreneurs?
A: There are many ways to achieve success but the following traits have been consistently identified as important for entrepreneurs. These include goal-setting, persistence, innovation and risk taking.
What are the 10 characteristics of an entrepreneur?
A: The 10 characteristics of an entrepreneur are as follows. They have a burning desire to succeed and create something new, they love the challenge of being their own boss, they keep moving forward with momentum towards success no matter what obstacles arise in front of them, they enjoy seeing themselves grow into someone who has accomplished amazing things like building up a company or starting their own business, they know that failure is just learning from mistakes so it doesnt stress them out too much when it happens and theres always hope for another try because even if something falls apart eventually you will get back up again stronger than before using what youve learned from your failures to make better decisions next time around.
The ten characteristics also include having drive where every day matters because without days coming one after another then nothing can be achieved in life; sometimes patience might be required but 4 hours today could mean 10 years tomorrow.
What are the 20 characteristics of successful entrepreneurs?
A: Competence, vision, confidence, positivity and tenacity.
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