How to get more with Less effort in Entrepreneurship

?There is a huge tendency to “try to do it all”, especially during the startup stages of a business. At a stage where brand awareness is a huge focus for your company, where the income is not looking pretty.

You can move faster when you move with others in entrepreneurship

The most sensible aim of starting a business venture is to solve problems, and in turn, make a profit. Some tech businesses such as Amazon and Microsoft Inc. go further to change the world, and how we see life entirely.

You should not be seen as someone who has all the skills or has all the answers. See yourself as the one willing to try and go all the way to utilize the access and resources available to create and run a business. Even if you have all the skills required to succeed in your company, you cannot do it all by yourself efficiently, and for a long time. Entrepreneurship is an active process, it is not pre-recorded nor 100% predictable. If you're a good pianist, drummer, singer, saxophonist, and guitarist, you may not play all the instruments at once to make good music. Instead, choose to be the music director and put these skill sets together to get the sound you envisioned. It simply implies that you will have to do less to get more out of your business.

Try applying the Pareto principle to your work; it gives that 20% of all your business activities amount to 80% of the benefits you experience (usually profit). This also means that there's a chunk of work that you may be taking on that can only give you 20% of your expectations.

Graphical representation of the 80/20 rule - Image Credit: Sarah Laoyan, Understanding the Pareto Principle. Asana

The 80% may include, managing your social media, documenting your business activities, providing graphic design materials, and checking emails for responses. If any of the previously mentioned activities are directly linked to making money, they should be removed from that list. The other 20% could be creating offers for clients, running sponsored ads, and attending to clients directly. These activities are directly proportional to the growth of your business.

You can confirm the effectiveness of this principle by doing the following:

• Make a list of all your business activities in no particular order
• Identify items that generate profit and those that do not
• Put more effort into those activities that generate income
• Delegate those to someone else even if it incurs an affordable feel

A common challenge is delegating that 80%, the feeling that no one would do it better than you can. To eliminate this factor, you must learn to empower your team members, encourage those who are good to be better, and those better to be the best. When this is established, you will only be left with trust for your team members.

You may make money when you decide to go "lone wolf" in entrepreneurship. To build and sustain a stable business, without exchanging the delicate factor of your health you will be required to leverage people. Empower your team members, or employ someone, and watch the 80% stress disappear. Now you can focus on what your business is truly about - Making money.

Are you struggling with your 80%; like managing your social media? Reach out here to us to help you take away that burden today! Entrepreneurship is exciting, enjoy your journey.