The One Thing Every Entrepreneur Needs in 2021

You’re a busy entrepreneur. There’s never enough time in the day to complete everything on your To Do list, let alone have a relaxing Netflix & Chill night. 

But are you REALLY busy, or just doing BUSY WORK? 

If you want to get off the hamster wheel, the one key area to focus on is Time Management. Time Management is so much more than just being on time to your appointments. Effective management of your time can help drive your company’s vision and success. 

To truly master time management, you’ll need to master three key concepts:

→ Your Vision and Mission

→ Setting Priorities

→ Staying on Track

Step 1: Vision and Mission

Having a clear vision and mission for your company will help you set the tone for what’s important and help inform your day-to-day operations. But, what’s the difference between these? 

Your company’s VISION the desired outcome for your business while your MISSION describes your business and objectives. Your mission focuses on today, while your vision focuses on tomorrow.

Here are a few examples from well-known companies:

Google

Vision: To provide access to the world’s information in one click.

Mission: To organize the world’s information and make it universally accessible and useful.

Target

Vision: To help all families discover the joy of everyday life.

Mission: The promise of surprises, fun, ease and inspiration at every turn, no matter when, where or how you shop.

Alzheimer’s Association: 

Vision: A world without Alzheimer's and all other dementia. ®

Mission: The Alzheimer's Association leads the way to end Alzheimer's and all other dementia — by accelerating global research, driving risk reduction and early detection, and maximizing quality care and support.

Here’s what a vision and mission might look like for these fictitious companies:

Attentive Attorney (Family Law)

Vision: Helping families navigate difficult legal circumstances. 

Mission: To provide families with the legal information they need, in a patient and understanding manner, to help them make informed choices.

Opa Greek Restaurant (Queens, NY)

Vision: To bring traditional Greek Mediterranean cuisine to Queens and the surrounding boroughs. 

Mission: To provide traditional Greek dishes, carefully curated wines and outstanding customer service to all our guests. 

Once you have a clear vision and mission, it becomes easier to set your overall priorities and then break those down into monthly, weekly and daily deliverables. 

Step 2: Set Your Priorities

You’ve got your vision and mission nailed down – the next step is to drill down to create your top priorities. Here’s an example, using our sample Attentive Attorney practice: 

In this case, Attentive Attorney’s vision and mission focuses on four categories for 2021: Family, Financial, Diversity and Tech. These goals drive their actions and that of their company, each quarter, monthly and on a daily basis.

Step 3: Stay on Track

The most important task you have as an entrepreneur is to set the tone for your company and focus on the big picture. It’s very easy for entrepreneurs to fall down the rabbit hole of spending too much time on tasks that can be delegated or outsourced.

For example, in the case of Attentive Attorney, the CEO may decide to tackle the diversity goal on his/her own. This may require hours of research to understand legal requirements and ways to manage the process effectively. Partnering with a company that specializes in this field frees up the CEO to handle other goals, like growing their business, and may also provide important information that the CEO hadn’t taken into consideration.

Staying on track requires a commitment to your vision and diligent planning. Here are some effective ways to do this:

• Plan in advance
  

→ Set aside one day to plan out your annual and quarterly goals

→ Plan your monthly goals 3 months out

→ Plan your daily goals one week in advance

• Use Helpful Tools

With so many tech advancements, it’s become a lot easier to stay on track. There are many tools and apps to help with this process, ranging from the simple to complex. A simple tool can be as easy as using the built-in calendar on your smartphone to set reminders and appointments.

• Delegate

Delegating can be one of the most difficult tasks for an entrepreneur.  We get it – it’s hard to give up control when it’s “your baby”! Also, you may just be starting out and don’t think you can afford to hire anyone. Here are some creative ways to get help:

→ Hire an intern – explore local college or city programs where you may be able to work with an intern for free, or at a reduced cost.

→ Hire a Virtual Assistant – it can take time to find and train the perfect VA, but once you do, there is so much that a qualified VA can take off your plate. Some resources we use are Fivver and Upwork.

→ Outsource to Competent Contractors- if you’re not the expert – hire one! One of the smartest business decisions you can make as an entrepreneur is outsourcing, either through freelancers or contractors. They have the expertise you don't, in areas such as such web design or bookkeeping, and can complete the task you need on time and budget, with a minimum of hassle.  

In summary, a little planning and focus can help you run your business more efficiently allowing you to be PROactive rather than REactive as issues arise.