In this article we are going to learn two important aspects of the Entrepreneur, one is the daily tasks of an entrepreneur which will help to understand the importance of To-Do list and other is to check your entrepreneur skills. These topics will help you to acquire command overtime management and understand how good you are as an entrepreneur.
Entrepreneurship is the ability of an individual to turn his creative and innovative ideas in designing, implementing, running a new business and build a consistent brand tailored to the right audience. The people who design this business are known as entrepreneurs. An entrepreneur is a person who steers the ship and he is responsible for sell his business ideas to the investors. He has to organize and operate the business and take greater financial risks. Being a key member he has to handle multi tasks and planning his activities is very important. Given below are a few points which will help an entrepreneur to organize his tasks
4 Daily Tasks for Entrepreneurs
How to Implement the To-Do List?
Everyone would have tried implementing To- Do list but we hardly tend to complete at least 2 or 3 of those tasks as we work on fire fighting tasks which are of high priority and leave our planned tasks.
The mistakes which we do in our work are
1. We will always plan according to our working hours but it is better to plan a task which is less than your working hours. If your work for nine hours a day, then plan work for 6 hours and keep the remaining time as a buffer for unplanned tasks as we always end up doing fire fighting tasks leaving the planned tasks
2. We don’t prioritize our work and generally fail to segregate our work properly
As an entrepreneur, we should actually have a master list of everything which we want to do and divide our work into 4 major tasks:
Sales related task:
Whether you take care of the sales personally or delegate it to your team but you should always include sales-related activities in your to-do list as sales are an important aspect of any business. It is necessary for any entrepreneur to keep an eye on sales-related activities. It may include sales support, client services, lead generation or focusing on business development. These tasks help in building loyalty between customers and businesses. As an entrepreneur, to develop business and create sales will always have a positive impact on the business and this will definitely require innovative techniques to improve sales and client retention. As a business owner, you should teach your team to sell your products or business ideas to the investors. If you don’t have time to explain how to sell, share the below link which helps them to have a better understanding
Marketing related task:
Marketing should be the priority of an entrepreneur as it is done for the visibility of your products or services. Most of the companies invest more in marketing than manufacturing as you can’t sell your product without marketing. It also helps to promote products or services and know about market insights thereby improving revenue options these activities may cover market research, event coordination, client follow up or adapting latest marketing strategies. A majority of marketing activities improve in building the brand and reputation of the company. Customers will know about the value of your product or service through marketing.
Even though you delegate these activities to the marketing department, it is very important to keep track of the progress on a regular basis.
There are many companies that plan marketing strategy much before launching their product as it helps to understand the demand and supply of the product. You would know your target audience and design your products as per their requirements One such interesting story of a
successful business is given below
Customer service related task:
Happy customers will make your business grow. It is very important to retain our customers and customer service will help to create a positive brand image. Customer service-related activities include all those that you are doing to satisfy your present customers. It is a crucial task and you are expected to deal with customers, make them understand your product, convince them to buy your product and support them after the sale.
It could be production If you run a production unit; it could be service-oriented or dealership. These activities will reduce business failure. Most of the units shut down within short span because of poor customer service. Better customer service approach helps businesses to build strong relationships and keeping loyal customers is always less expensive than getting new ones.
The importance of customer service is clearly mentioned in the below link,
Check the link to understand the contribution of customer service in business growth
Professional growth-related task:
Last but not least is the task which is often neglected but equally important for any entrepreneur is professional growth-related activity. It is very important as it decides the growth of the business in the future. The result of this task is not shown immediately but success will depend on this activity. This is to improve the skills of you and your team. This should be included in your daily activities. The below article gives you an idea of a simple professional growth plan that will enhance your growth in both business and career. Follow the link as it helps in long-term benefit
These should be the activities which should be there in a complete To-Do list. Sales and customer service are related to present and marketing and professional growth is for long term benefit. This is a perfect to-do list and this will end up your fire fighting and if you follow then your business will go on an auto mode
Now that you understand about your daily tasks, it is also important to know your entrepreneurship skills as it helps to reach your goal. Below are a few sets of questions that help to understand your skills as an entrepreneur. In two minutes you will get to know how your entrepreneurship skills are if you are going to give honest answers to the questions
How are your entrepreneurship skills?
It is very important for any entrepreneur to know his skills so that he can work on his weaknesses and make use of his expertise. To know more about entrepreneurship skills and understand the importance of business for economic growth, click on the below link
Try this test where 80% of people fail to prove themselves
Q.1 Is your product or service for a particular audience (niche) or for everyone who buys?
Option A Niche
Option B Everyone
Q.2 Do you have more margins than your competitors?
Option A High
Option B Low
Option C Equal
Q.3 Are you doing your business full time or part-time?
Option A Full- time
Option B Part-time
Q.4 Are you considered the smartest in your business team, most of the times?
Option A Yes
Option B NO
Q.5 Are your revenues increasing every quarter?
Option A Yes
Option B No
Option C Don’t Know
Q.6 When you started, did you believe in keeping an employee for a particular task so that you are able to delegate properly?
Option A Yes
Option B No
Q.7 Do you have a good knowledge of all the departments’ functions of your business?
Option A Yes
Option B No
2 High Margin Products
3 Full times
Based on these answers, you will be able to understand your entrepreneurship skills. Try to focus on those aspects which you are not good at and use your USP to improve further.
In any business, it is very important to upgrade yourself with the latest technology. Traditional methods also play an important role in the success at the same time follow the latest techniques to make your work simple and easy. There are many Apps available for budding entrepreneurs to organize work and stay focused. Follow the below link, which will help you to understand how small changes in your work will make your life easy and help to maintain proper work-life balance
Being an entrepreneur may be exciting and bold but a lot of effort is required for success and to execute thoughts into actions. Always move forward with positive thoughts and try changing the perception towards failure or challenges. There are many entrepreneurs who work for long gruelling hours to complete the deadlines it is very hard to follow activities as planned. There may be many external factors that always have an impact on the business. Always have a clear vision and business idea. Proper planning and execution can help you to make your skills stand out and achieve success.