Regardless of why you’re starting a business and what skills and resources you bring. Your performances as a founder will fluctuate from hour to hour and day to day. This is the nature of human striving, some day are better than another.
So every entrepreneur need to asses there interest and needs in three domains.
- Family support and alignment.
- Financial goals and expectations.
- Time and schedules.
Each of which can work for or against you, diminishing or distracting your focus and performance. Through this post we’ll help you bring your best efforts and energy to your startup challenge.
1. Family support and alignments.
Don’t underestimate the positive impact on your entrepreneurial performance,that family support will bring or the added stress and strain that will arise if these issues goes unexamined and unaddressed.
I know of quite a few promising businesses that were abandoned because the founders family wasn’t adequately prepared for the stress or the risk associated with entrepreneurship. And on the other side of the coin are people who achieve their startup goals but at dramatic painful cost.
Typically this is a area full of entrepreneurial selling and sugar coating. You want your family members to believe in what you are doing, to have confidence in your new venture and the future you are making possible. And of course, you want to minimize there challenge about anxiety, about risks and challenges of entrepreneurship. But the realities and requirements of your new venture will quickly make their presence felt in your home, whether or not you prepare your family for them.
Spouse cast unaware by financial crises and unexpected late night at the office are much likely to resist or panic than those who are looped in and consulted on the front end.
So is vital that you have honest and realistic conversation with family members about how startup will change your availability and schedule, how it will effect financial priorities and how risk and challenges will be handled along the way.
2. Financial goals and expectations.
It has been a known fact that you don’t have to quit your job before launching a startup. There is a wisdom in starting on the side, unless you have some pie of cash that can cover over six months living expenses.
As Abraham Maslow laid out in his hierarchy of needs. “Unless and until our basic survival and safety needs are met, we won’t give our full attention to higher goals and aspirations” if all possible, take your income issue off of the table by identifying how much money you need to make during your startup process and then developing a game plan that will meet this needs.
How you determine your income needs, and at what level you set them is a highly personal decision that depends on many factors the ideal scenario in launching a new venture is to have minimal or no need for near term income. This is rarely a sustainable situation. So you have to consider starting part-time. As you check our previous post(Starting a part-time business why holding your full-time job)
3. Time availability and commitment.
Will are all aware that, getting a new business off the ground takes time, a lot more time than most founders ever imagine. much especially when holding a full-time or part-time job. And on the other hand your ability to drive your startup forward will strongly correlate to how much time and focus you give to it.
Realistically, many people are not in situations that allow them to not initially, if in case you have found yourself as a part-time founder. You have to know that your time availability will be parted by two domains. Your income needs and your family circumstances. You have to understand that the amount of time you devote will impact how quickly you built your business.
With this two chief factors fighting over your limited time, how can you come out a winner.
Managing your schedule like a pro.
As former CEO of IBM once said. “Never let anyone own your schedule.” This tips can help you master your time.
- Create a routine: no matter what you are working on, create a routine. Block times for specific activities, and stick with the plan. Turn your calendar into a bunch of blocks and put activities into those block, whatever is not planned, you don’t do. If you want free time plan it.
- Block time for emails: email who own it? To own a email you must avoid doing it all the time. To do that you will need to schedule time for it.
- Plan your exercise and family time: your physical health and relationship health are very important. Isn’t something to be on the calendar, it won’t get done. Well, that applies to your exercise and time with family.
- Group meetings and calls into blocks: for example if you need to have outside meetings, block two and a half days, week for those meetings, and go to the outside meetings only during these times.
And you will see not only we you survive the messy environment that your new startup will bring. But you I’ll thrive in it.