A Fatal Mistake that Can Cost You Your Business ? And More

Whether you're a new business owner or if you have been running your business for several years, one of the biggest challenges you face at one point in time or another is overwhelm and imbalance.

How many nights have you dragged your weary body to bed only to lie awake for hours with nagging thoughts of what you haven't done or don't have answers to?

How many of your children's' ball games and school functions were missed because you had business commitments?

How many evenings did your partner spend alone because you were burning the midnight oil by speaking on the telephone or hovering over your keyboard, workbench or reference materials?

Was this because you loved what you were doing so much that nothing else mattered, or was it because you felt you had to do everything alone?

One of the biggest mistakes small and home-based business owners make is assuming they have to become the chief, cook and bottle washer and perform all of their related tasks flawlessly and concurrently.

I know many entrepreneurs who suffered failed relationships and experienced great loss because they over-committed themselves to their businesses and let everything else important to them fall by the wayside.

Many of today's most renowned entrepreneurs and success stories will tell you of losses they experienced because they didn't know how to do things right the first time or how to balance their priorities.

I was one of those people.

When I was building my first business in my 20's, I locked myself in my office for days on end. I would pour over books trying to learn business skills. I would be on the phone trying to drum up customers using painfully ineffective sales techniques I made up myself.

I created my chart of accounts, set up my bookkeeping system and decorated my office. I made flyers and pinned them up around town. Then I went home and waited for the phone to ring while I studied my product literature and organized and created and collected endless sources of information I thought were necessary for business success.

My partner spent many of his evenings and weekends alone. He would make dinner. I would join him once in a while, then head back into my office.

I wanted to succeed. I wanted to be my own boss and earn my own way and thought if I could invest every possible waking minute of my life to learning about business and acquiring all of the skills necessary, I would create the success and freedom I desperately sought.

Unfortunately, the biggest lesson I learned was, if you lock yourself in an office for two years straight, there probably won't be anyone waiting for you when you come out.

I learned that I had been completely unrealistic and selfish in my thinking.

No successful businessperson has made it entirely on his or her own. If there is an exception to this statement, the success probably came at a terribly high price, and in the end, would you call that success?

What is important to understand firstly, is you must have a product or service that provides significant and perceived value for the customer.

What you also need to understand is you don't need to be an IT specialist, sales or marketing expert, professional copywriter, or have an accounting designation to be a successful entrepreneur (unless of course it is the service you offer!)

You do, however, need to surround yourself with trusted people who are skilled and knowledgeable in the areas you aren't.

It's all about creating a success team and leveraging your time so you are focusing on what is most important and on what you do best.

You've probably heard this many times over, but you need to work "on" your business and not "in" it.

You have the vision of where you want to take your business and the future you want to create, so don't allow yourself to get bogged down by the tasks that take you away from your big picture.

I learned how to do things differently after what some may call dismal failures. (I prefer to call them valuable learning experiences.) I became wiser and put my ego on the shelf.

I understood that working alone and trying to be and do everything was foolish and counterproductive. It didn't mean I was weak or lacking in any way.

I learned how to create a success team and a mastermind group. I surrounded (and continue to surround) myself with mentors, coaches and people who are always a step or two ahead of me on the life and business success ladders.

I have a Sales Coach who constantly challenges me to expand my thinking, and a Marketing Genius as my mentor who bestows his infinite wisdom on me, and moves me to higher and higher levels of development and achievement.

I have a mastermind group I speak with bi-weekly who share in my wins, explore ideas and opportunities with me, help me analyze results, and hold me accountable to remain in balanced action. I provide the same support for them.

Surrounding yourself with people who are as committed to your success as you are and who not only fill the gaps, but continuously push and pull you forward is absolutely necessary if you want to achieve business success without paying a heavy price.

This week, take an inventory of where you are allocating your time.

Have you created a healthy balance between life and work to the point you are fulfilled in both areas?

If the balance is tipped, what activities can be discontinued, delegated or leveraged to regain stability?

What type of people do you need to surround yourself with to ensure smooth, continuous progress without placing the entire burden on yourself?

Spend time on these questions. Be honest with yourself and responsible in your answers.

If you acknowledge that change is required in the way you operate your business, take action to make the change necessary, always keeping your best interests and those of your business in mind.

Laurie Hayes works with small and home-based business owners who are struggling to maintain a healthy work/life balance. To receive valuable tips, strategies and techniques designed to grow a successful business without sacrificing quality of life, subscribe to her free bi-weekly newsletter at http://www.wheretheheartis-lifecoaching.com

---

What Would Save You Time?

We all get overwhelmed from time to time, and sometimes... Read More

Benefits of Speed Reading

In this digital age, the importance of being able to... Read More

New Adventures - in Four Hours a Day

"Can you find four extra hours in your day?" a... Read More

5 Result-Getting Time Management Tips

How often have you tried to manage your time in... Read More

Linking Purpose To Everyday Behaviors

How do you know what's the best use of your... Read More

Plan Your Day and Stick to Your Plan

How many times have you remarked to someone that there... Read More

10 Time-Saving Calendar & Scheduling Tips

Nowhere is the line drawn more clearly between 'Industrial brains'... Read More

A Fatal Mistake that Can Cost You Your Business ? And More

Whether you're a new business owner or if you have... Read More

Painful Cost of Working Yourself to Death

We all know the harmful effects of overwork. People get... Read More

Time Managements

There are the golden rules that apply to time. If... Read More

Expand Your Time

In our time-crazed society, lots of time is what most... Read More

Time Management - The Ultimate Oxymoron

Get a grip. Is it possible to manage time? Can... Read More

Time Management - Working Smarter at Work

Let's look at your time management skills. Most of us... Read More

Having Time on Your Side

Clarity brings accomplishmentOne of the most important things you can... Read More

Time Management

Isn't it amazing that some people can produce huge results... Read More

Sharpen The Saw

Sometime ago, my lovely wife woke me up in the... Read More

Organization Tips That Add More Hours To Your Day

One of the most common complaints that small business owners... Read More

First Things Last

Years ago clients would tell me they could not identify... Read More

Avoid 7 Time and Life-Robbing Mistakes and See Your Productivity Soar

41 practical and quick ways to get on top of... Read More

How You Can Double, Triple, or Even Quadruple Your Reading Speed!

Are you drowning in a sea of unread papers? Do... Read More

Time Management - How To Get More Done In A Day?

Everyday, in life, we are bombarded with 101 tasks that... Read More

Time Management - Keeping a Clean Desk

I have worked with so many people over the years... Read More

Time Management -- Urgent vs. Important

"It's just been one of those days?I can't seem to... Read More

House Cleaning - Three Ways To Finding The Time

It's always a challenge finding time to clean my house.... Read More

Could you use a ?Stop Doing? list?

One of the tried and true organization and time-management tools... Read More

Effective Time Management Techniques

TIME MANAGEMENTWith the creation of the universe, God gave humankind... Read More

Time Management: Which Advice to Follow?

There are so many books on Time Management published every... Read More

Are You Watching Too Much TV?

Many folks tell me that they just don't have time... Read More

How Would You Like to Capture Some Time?

Women's health issues often are focused on goals to reach:... Read More

Tips to Manage Your Time

Time and money are both very important in business. Yet,... Read More

The Kaizen of Goal Setting

There is an old way of goal setting and a... Read More

Time Management Basics

"At my back I always hear time's winged chariot hurrying... Read More

Use Your Time Wisely!

When I was small, I have never considered the importance... Read More