To Busy for Business?

I like my job – not a lot – but I do like it.  I like the people I work with and I like the clients (well most of them).  My salary is reasonable and my hours are OK.

The trouble is, like most employed people, I am never going to get rich doing this job.  Very few employed people will ever be truly wealthy.  Some will be comfortable; most will simply “get by”.

When you are employed you basically have to trade your time for money.  Your time is limited and finite.  As long as you remain employed your income is also limited and finite.
For most people the idea of running their own business is a rather daunting thought.  The risk factor is extremely high and very few people have enough spare funds to give up the day job and start their own venture.  There are plenty of success stories from people that have mortgaged their house and ploughed their life savings into a business, but most of us can’t accept this degree of risk.
So what to do? - Start a business part time.

This is not as difficult, or as time consuming as it sounds, it’s just a question of being organised.  Finding enough hours to run a business part time is easy.

 Let’s take a look at an average week.  Most employed people are now on the 9- 5 routine with an hour for lunch and at least 2 X 15 minute coffee breaks, add in some water cooler chat, a couple of sneaky peeks at Facebook and you tube, a few checks of your personal email on your mobile phone and most of us are not actually working more than a 30 hour week.

If you set aside 60 minutes each work evening and 15 minutes each work morning and 3 X 60 minute time slots on Saturday and Sunday.   This gives you 12 hours to work on your business which is 40% of the time you spend on your day job.  If you commute by train or bus you can extend this time even further.

Why not spend some time this weekend thinking about how your business idea would work with the above model. 

Keep checking back here for more hints and tips.  Also if your business involves selling coaching, mentoring or business services please check out www.superiorseminars.co.uk and see if we can help you sell your services and products from the stage.

A True Dilemma

What to do?

Here I am a budding entrepreneur on the cusp of great success. My web site needs about 6 hours work and it will be ready for re-launch, my book, http://www.lulu.com/product/paperback/seven-steps-to-successful-speaking/10982751,  has been published and I have the bare bones of a marketing campaign planned.

I also have a commitment to delivering 3 free speeches this week, a mentoring to call to attend and the garden looks like it belongs to a derelict building in an abandoned dockyard.

Conventional wisdom says, ditch the free stuff, skip the mentoring call and leave the garden a little longer.
Apparently you can't start a business unless you are consistently putting in 18 hour work days and being totally driven.

Perhaps I have got to the stage I am at, in a longer time than necessary, because I am not putting in these hours, and am not as driven as I should be.

I value my health, both mental and physical, so I try to fit in some time for relaxing, some time for family, some time for friends and some time for me. Working every hour possible would simply alienate me from family and friends, and from the me that I know and love. Too many working hours will lead to physical health problems. Neglecting responsibilities can lead to mental health issues, like stress and depression.

I think I have got the balance slightly wrong and don't focus enough on the business, So I am going to sort the garden, attend my mentoring call and do those 3 speeches. After that I will be more careful about volunteering my services, so that I don't have to give as many speeches (at least not free ones). The garden will be re-planned, so that it takes less work. The mentoring call will stay, because it is only through being accountable for your progress, that you will succeed.

Please follow my lead if you are in a start up business. Work hard, but work smart. Work long hours when you have to but programme in leisure time. Above all make sure your whole life balance leads to health, because without that you can't run a business.

James McGinty

www.bespeak.co.uk