As an entrepreneur, you must make the most of your time
by OneCoach Team | posted on November 10th, 2008 | Strategy
What should business owners be doing everyday to maximize their time for a return on their investment? For one, spend ample time with your customers. Build their loyalty and they’ll refer your business. Keep a constant pulse on their satisfaction, so you’re providing an amazing service or product now, instead of putting out fires later.
You also need to invest a good deal of time and research in your hiring, recruiting and development process. Yes, you are the CEO, you are a genius and you use your wisdom daily. However, you can not attend to each matter of your business with the same exact energy and potency. You’re eventually going to have to hire on.
And if you’re like many entrepreneurs, then your abilities may be lopsided, excelling at some areas, but lacking to great degrees in others. So it’s very likely that you will need to face hiring soon enough. To hire more effectively, you need to develop a healthy candor about your own capabilities. This will help you pinpoint what type of help to hire on.
And as people are not always as they initially seem, they may not turn out to be a good fit. If this happens, you simply need to let them go. It’s not personal, it’s business. The wrong staff will hold your business back from its true potential. And you’ll actually be holding that employee back as well – there’s obviously somewhere else where they’d be a better fit and be able to contribute more.
Above all, never lose sight of the infinite possibilities that surround you. You must overcome the frustrations of starting or running a business and concentrate on the glory of opportunity.
This post is the sixth in a series of excerpts from OneCoach CEO John Assaraf’s interview with Rita Gunther McGrath, co-author of The Entrepreneurial Mindset, and MarketBusters: 40 Strategic Moves that Drive Exceptional Business Growth. See the first post in this series here.
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