Expert Advice: How To Optimize Your Business Dreams
World progress needs entrepreneurs, and entrepreneurs need structure. Startup survival rates have decreased in the last 20 years according to the U.S. Bureau of Labor Statistics, largely because of over-scaling and overspending. It’s exciting to dive into your dreams with passion and prowess, and it’s easy to overlook the importance of daily fluidity in the process. Fran Lebowitz says to “think before you speak,” but “read before you think,” and nothing could hold truer in the business world. Consider the simple wisdom of the experts as you embark on your entrepreneurial dreams. You don’t need a trust fund or an Einstein-ian IQ to poise your dreams for success; you just need organized planning, practical knowledge and motivated consistency.
Don’t be a Comfort Martyr
Sometime since the industrial revolution, Americans got the idea that there’s something noble about back-breaking work. There’s nothing noble about intentionally pushing your physical limits to the point of pain. Roughly $20 billion dollars is spent each year on repetitive stress injuries that could have been prevented. Paul Edwards, author of “Working from Home” recommends that self-starters always make comfortable surroundings a priority. Ergonomically correct positioning seems like a small consideration, but the damage can be irreversible.
Make Organization a Priority
The average executive spends three whole hours a week looking for things: files, papers, staples, etc . . . which adds up to almost 3.5 weeks a year. Petty organization may seem like a waste of time in the wake of your “grand scheme,” but Edwards points out that it’s one of the most valuable daily time-savers there is. Color coding, alphabetizing, filing by date and printing labels meticulously can theoretically save you enough time to take that dream trip to Bora Bora. No one is above organization.
Since 1982, the time the average American spends waiting in traffic has doubled, and the trend doesn’t seem to be going anywhere soon. In the digital age, there are very few necessary errands left. Look into postage machines for small businesses to save time and money, order food, and buy office supplies in bulk at least six months out—this will free up your “errand space” or pivotal networking opportunities or even a much needed nap.
Get To Know Deductions
Tax law isn’t fun, especially for someone who is focused on the big picture potential of their dreams. It is, however, one of the most valuable sets of knowledge any entrepreneur can acquire. A good accountant can guide you, but as an entrepreneur, it’s your responsibility to save and organize all of your documentation. Good record keeping is the key to maximum tax savings and painless audits, points out Sam Fawaz, financial planner, to “Entrepreneur Magazine.” He outlines the 15 major tax laws entrepreneurs should familiarize themselves with here.
Don’t Blur Your Ground Rules
Finally, the key to a balanced, successful entrepreneurial life is abiding by your own rules. Richard Rabinowitz is an entrepreneur that runs a multi-million dollar enterprise from his home called “Digital Photo Academy.” He owes his ability to keep his team—and dreams in line to keeping a strict schedule and never blurring certain lines: work hours, clean up, even personal calls and family issues are handled outside of work. This allows for maximum focus and organization. The details may seem tedious, but learning them is instrumental in reaching your big-picture dreams.