Limited time when starting a new business
I think a lot of people have doubts about starting a business, or an online business, wondering if it is worth it and realistic. Many people have just an hour a day or so to dedicate to a new business, and they aren’t sure if they are biting off more than they can chew.
You can do this!
I have had many students over the years in this sort of situation, and I myself also had limited time when I was starting out. The interesting thing is that people with time restrictions get very productive in those few hours that they have.
On the other hand, when you have an abundance of time, it’s very easy to fluff around, make to-do lists, and so on, knowing that you have all this time to get things done. But when you don’t have a lot of time, you’re forced into focusing on what really matters.
Focus on the tangible aspects of your business: money producing activities
Once you’re set up, money producing activities are the only thing that is really important in early business. Your time will be devoted to generating lead sales, and keeping customers.
Don’t get tangled up in education and endless courses and webinars. Sometimes people feel insecure about knowing enough – but you’ll just end up overwhelming yourself with information, and then procrastinating. Restrict your education to a maximum of 20% of your time spent on your business. Ultimately, it’s in-the-trench experience that will teach you what you need to know.
In your starting-out stages, it’s extremely important to be entirely focused on driving leads, sales, creating content, and marketing – these things are the lifeblood of your business, and what will enable you to survive, then eventually thrive.
Monitor your results
When you start marketing, set up your campaigns – on Facebook for example – and then see how it goes. Hone in on a situation, and monitor it. Find the campaigns that are working, and cut out the duds. This won’t take up a lot of your time, even though you’ll probably have more duds as you start out.
Scale your business to size first, then focus on making it perfect
I always focus on scaling my business to six figures before I start getting into the details and making it perfect. People can get caught up on making the website perfect, the logo just right, but none of that ultimately matters in the early stages. If you have a good quality product or service that is in demand, just focus on generating visitors and leads to your offers.
Once you have a few leads, it’s easier to use your time wisely.
It might take a few weeks, or longer, but once those first few leads or sales start to come in, you’ll find yourself spending that hour or two a day that you have repeating things that are working. You’ll keep trying things out until you have an endless stream of leads, and eventually sales as well. Then, ideally what you’ll do, is keep at it until you’re in a position to wind back the time you’re putting into the business, or possibly let the business replace the work or time you’ve had to devote elsewhere.
The great thing about having limited time is that it sets you up to having really good business habits; to concentrating on getting maximum results.