Business trends of 2020 are set to include an increased shift towards sustainable living and a rise in CBD products. Many start-ups are set to embrace such trends and, with an average of three startups being launched around the world every second, it’s likely we’re set to see an increase in those areas. However, a study from CBI Insights suggests than nine out of ten new start-ups fail.
With this in mind then, it’s important to plan your business goals wisely. Many failed businesses pinpoint their reason for failure as little demand for their products or services. By planning carefully, you can ensure that you have done your utmost for the business to succeed – by delivering products and services that fufill citizens’ needs.
Create a plan
Plan when and how you will accomplish each objective on your to-do-list. Categorise the tasks you’re able to do alone, plus those that you’ll need help with. Create an inventory of supplies you will need and update this at the end of every working week. Every morning, be sure to create a detailed to-do list and don’t stray until you’ve ticked everything off.
Track your time
The best way to save time while growing your startup is, in fact, to track your time, over time (all this ‘time’ does sound ‘time-consuming – but trust us it’s worth it!). Start by tracking several working days, write down everything you do, and how long it takes to do it. You should list everything here, including breaks, social media time and even checking emails. This way, you’re able to highlight what you spend the most time on.
Schedule time for email and social media primarily, as these can prove to be the biggest time wasters over all. You needn’t reply to emails as soon as they come in either – instead, schedule a short break or two throughout the day to reply to any queries. You should also use strict deadlines and notify others of this time scale. By doing so, you hold yourself accountable and have motivation to complete said project.
Break down large tasks
Some projects are more taxing than others. Because of this, some tasks can prove daunting and overwhelming. Should you break them down into smaller and more manageable tasks, you’ll feel far less stressed.
Don’t be afraid to say ‘no’
As a business owner, you may feel that you need be in control of everything, but it’s also important to realise that it’s also acceptable to say no. Saying yes all the time, while certainly positive and ambitious, also means that you’re in jeopardy of taking on more work than you’re able to handle. Don’t over-commit yourself to a vast and unmanageable number of tasks, which can add unnecessary stress, and in turn may cause you to lose focus.
Instead, delegate tasks to employees you’re sure are competent enough to handle them. Plus, by doing this, you’re able to clear your calendar and better spend your time and effort elsewhere. Making use of a virtual office in London can also put you right in the heart of the city, without you actually needing to live and work there.
More leisure time means you’ll feel less stressed and, therefore, you will have a clearer mind. And a clearer mind can only spell good news for your business. Remember, time isn’t just money – it’s your life too.