5 Habits of Great Entrepreneurs to Develop in 2016
The beginning of the year is a great time to reevaluate our strengths and weaknesses, especially when it comes to business. Whether you are starting your own business or not, it is important to think about your habits as a team player and leader. Take a look at five good habits every entrepreneur should focus on building in 2016:
- Delegation: No one can do it alone and that’s why you have a team! Your goal should be to delegate 80% of the things on your to-do-list. Evaluate to determine which tasks come naturally and easily to you and which do not. Begin to delegate those tasks that are not your strengths to people who thrive in those areas. Your business will never grow if you are the only one doing all the work. If you don’t have any employees, are there outside services that can be a support for you and your business (ex. HR outsourcing).
- Time Management: “Time is money” is a popular phrase that is true. Your time is valuable. So much goes into starting and maintaining a company that you have to make sure you spend your time wisely on whatever tasks you have delegated to yourself. How are you prioritizing your time? What is your methodology for scheduling time? If you find that you are more reactive than proactive, now is the time to create a plan. Use these three steps to help you get on track:
- Audit your work time. Better understand where you are spending your time before you try to make changes.
- Choose a scheduling tool (digital calendar, notebook, excel sheet, etc.) and begin using it. Use whatever works best for you to write down how you spend your time.
- Put the work that you do (from your audit) into categories and prioritize the categories.
- Create an ideal schedule and test it out. It might not be exact the first time but the more you practice it the more you can learn what works and what does not, so that you can improve as you go.
- Communication: Your goals and mission are what help your employees understand what they are working towards. People who are working towards a unified purpose make up stronger teams and are more motivated to accomplish their goals. Clear and consistent communication of your business’ mission gets your team on board with what you are trying to achieve and increases excitement about being a part of that mission.
- Encouragement: At the end of the day, your employees need to feel valued. Giving them positive feedback in addition to constructive criticism can help them stay motivated to work towards the vision of the company.
- Evaluation: It is crucial that you are able to take a step back and look at what you and your team are doing. Taking the time to see what you are doing well and where you need improvement allows you to maintain control of where the future of the company is headed.
These habits might seem overwhelming and difficult to implement. That’s where we come in! Let Nexus Catalyx partner with you. We can take care of your HR needs so that together we can focus on building your team to the best of its ability.