Business Education

Effective Methods Entrepreneurs can Use to Juggle Priorities

As an entrepreneur, you’re constantly juggling priorities. There are always a million things to do, and it can be tough to know where to start. But if you don’t learn how to prioritize your tasks, you’ll quickly find yourself overwhelmed and stressed out.

Effective Tips for Juggling Priorities as an Entrepreneur

If those two emotional states of mind aren’t attractive, it’s because they are inherently counterproductive. Entrepreneurs would much rather be in control and calm. To achieve this, it’s important to know how to juggle priorities and that can be quite difficult because everything that’s important deserves due attention. So, here are some effective strategies for juggling priorities:

Set clear goals and objectives. The first step to effective prioritization is to have a clear understanding of your goals and objectives. What do you want to achieve with your business? Once you know your goals, you can start to identify the tasks that are most important to achieving them.
Create a to-do list. Once you know your priorities, it’s time to create a to-do list. This will help you keep track of what needs to be done and when it needs to be done. When creating your list, be sure to estimate how long each task will take. This will help you create a realistic timeline for completing your work.
Prioritize your tasks. Not all tasks are created equal. Some tasks are more important than others, and some tasks are more urgent than others. When prioritizing your tasks, it’s important to consider both the importance and urgency of each task.
Delegate tasks. If you’re trying to juggle too many priorities, it’s important to delegate tasks to others. This will free up your time so you can focus on the most important tasks. When delegating tasks, be sure to choose people who are capable of completing the tasks to your satisfaction.

Additionally, take breaks. It’s important to take breaks when you’re juggling multiple priorities. If you try to work non-stop, you’ll quickly become overwhelmed and feel stressed out. When you take breaks, give yourself a chance to relax and recharge. This will help you come back to your work refreshed and focused.

Between catering to the needs of customers, ensuring employees are engaged, remaining true to the values of the organization, and staying compliant with changing laws, running a business naturally requires entrepreneurs to balance several different priorities all at once. No matter how experienced a leader is or how top-notch their juggling skills are, any person would struggle with these responsibilities. —Newsweek

Juggling priorities is a challenge for any entrepreneur, but it’s essential to the success of your business. By following these tips, you can learn to manage your time effectively and achieve your goals.

Even More Ways to Organize Your Business Priorities

In case you’re already accustomed to using these methods, there are more that you can also adopt. In addition to the above, here are a few more tips for deciding which priorities are most important:

Consider the impact of each task. What impact will completing or not completing each task have on your business? Some tasks may have a more immediate impact, while others may have a more long-term impact.
Think about your resources. Do you have the time, money, and people power to complete each task? If not, you may need to prioritize tasks that are more feasible.
Factor in your goals. What are your short-term and long-term goals for your business? Prioritize tasks that will help you achieve your goals.
Be flexible. Things change, and your priorities may need to change as well. Be prepared to adjust your priorities as needed.

Juggling priorities is an ongoing challenge for entrepreneurs, but it’s a necessary part of running a successful business. By following these tips, you can learn to manage your time effectively and achieve your goals.

What other advice would you give to business owners about how to effectively juggle priorities and put pressing matters in the proper order? Please take a few moments to share your experiences and anecdotes so others can benefit from your input!

Interested in learning more about business? Then just visit Waters Business Consulting Group to learn more about us and the services we offer.

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Business Pros and Cons of Furloughing Employees

April 14, 2020 No Comments

Thinking about furloughing rather than laying off your employees? It’s an all-too-common conundrum right now, amidst the coronavirus pandemic shutdown. But, it’s something that a large majority of businesses must consider, given the present and quite uncertain circumstances. Read on to learn more about the upsides and downsides of furloughing your employees. Employee Furlough Disadvantages We’ll begin with the most problematic cons of furloughing team members. Doing so puts your company at-risk for permanently losing your top talent. Furloughs also undermine employee morale and may even damage it further, and if you have applied for the SBA Paycheck Protection Program, one of the conditions for the loan to be forgiven, is that you keep your employees on your payroll. An employee furlough is a mandatory suspension from work without pay. It can be as brief or as long as the employer wants. Furloughs can take place in both public and private institutions. An organization will furlough employees as a cost-saving measure when it doesn’t want to lay off staff but lacks the resources to continue paying them. —The Street.com Then, there’s the trouble of re-opening your business. Even after a short-term period, it takes a substantial amount of time to get things back up and running. Additionally, the cost savings might not be as significant as you might believe because it’s for a short time frame and not necessarily long enough to be worthwhile (though it can certainly prove helpful). Employee Furlough Advantages Since furloughs are happening in many industries right now, the temporary change can’t be all bad. There are advantages to furloughing employees, like the following: Avoids layoffs. The most obvious upside to going with furloughs instead of laying people off is that you avoid the latter. In other words, you aren’t terminating team members. Instead, you’re temporarily removing them from the business without pay. Reduces rehiring. Another benefit of furloughs is the fact that you won’t have to go through the trouble of rebuilding your workforce from scratch. Rather, you can just reassemble your team, either one-by-one or in small groups. Saves compensation costs. Of course, when you furlough employees, you don’t pay their wages or salaries. Since labor is most typically the largest business expense, this can really help your company financially. (Though, you may still opt to furnish them with benefits during their furlough period.) It allows you to better plan. Yet another benefit of furloughing instead of firing employees is that you can formulate a more workable plan during that time. The longer it goes on, the better grasp you’ll have of what to keep and what to jettison. To put it another way, you can use the opportunity to streamline things in order to make your business more productive and more profitable. What other business pros and cons of furloughs would include? Please comment and share your thoughts and experiences! Interested in learning more about business? Then just visit Waters Business Consulting Group.

New to Hiring, Here’s How to Spot Resume Red Flags

April 8, 2021 No Comments

It’s often said the first hire is the hardest, and that’s inescapably true for several reasons. Foremost, it’s because when you hire an employee, you’re hiring someone to represent your business. Which is to say, you’re entrusting them with your company’s entire reputation. Then, there’s the matter of consistency, even if that person has the competence. In other words, being able to do the job well over and over again. But, that’s not all, your first hire must be cost effective, helping your business to earn more than it did before. So, it’s no wonder business owners procrastinate as long as they can, putting off their first hire. What Resumes Are (and Aren’t) Of course, there’s the conundrum of where to begin and finding a good fit. This is where the resume comes into play, although you may not be very familiar with qualifying a person’s capabilities from a sheet or couple of sheets of paper. On average, hiring professionals spend just 7 seconds looking over each resume. That’s not a lot of time, and especially seems short if you’re doing it for the first time. Do you know who you are hiring? You need to review each resume, cover letter and job application that you receive with care. You want to ensure that the candidates you consider hiring are who they say they are and that their credentials are valid and match your needs. —The Balance Careers The good news is, you can get a lot out of just about any resume, if you know what to look for. Obviously, you have to start with an understanding of what a resume is and what it isn’t. A resume is simply a summary of a person’s qualifications and their competencies, along with their work history. That’s about it, what a resume isn’t, is a tell-all that will reveal all a person’s strengths and weaknesses. How to Spot Resume Red Flags The simple fact of the matter is that a resume only provides the information the applicant furnishes. Meaning, it will only tell you what the applicant wants you to know. However, this doesn’t mean it can’t give you some very key clues that you can use to your advantage. Here are the biggest red flags resumes can reveal: Inexplicable or unexplained gaps. A resume with big gaps, particularly between positions, is one that tells you a whole lot. Someone who has large gaps between jobs is likely an applicant you’d probably be better off without. Rock star qualifications. Conversely, if an applicant’s resume is packed with too much good news, it’s probably too good to be true. A resume with a cornucopia of qualifications is likely full of exaggerations, embellishments, half-truths, and more misleading information. tOO mAny TyPoes. Poor spelling, bad grammar, sloppy punctuation spell b-a-d n-e-w-s. If someone doesn’t pay close attention to the way they present his or her self on paper, he or she isn’t really interested impressing potential employers. Of course, these aren’t the only red flags you might find on a resume. Applicants who send their resumes from current employers’ email systems are telegraphing they’re not respectful of others’ time and resources. Unusual employment histories are also a red flag. People who hop from one industry to another do so for reasons that should concern you. What other red flags do you look for on resumes? Please take a quick moment to share your experiences and thoughts. After all, your perspective just might help someone else out! Interested in learning more about business? Then just visit Waters Business Consulting Group.

How to Keep Your Sanity and Family Happy While Working from Home

May 26, 2020 No Comments

Work-from-home roles have greatly increased over the past couple of months. And, for those continuing in their WFH capacity, there’s a number of challenges to overcome (or get used to in one way or another). In other words, a few weeks of working remotely might give you a taste of what it’s like. But, if it turns into a long-term scenario, you’ll need to know how to fight off the creeping insanity it brings in your life. So, let’s take a look at how to preserve your head and keep your family happy, too. Biggest Work-from-Home Challenges Okay, if you’ve worked at home over the past few or several weeks, you’ve probably encountered one or more challenges. For instance, distractions are among the top. This is probably the most ubiquitous problem. However, a bit of discipline will go a long way. Then, there’s noise. Others inside the house can create a lot of noise. The easiest fix, asking for quiet and working in a space away from the hustle and bustle. Working from home comes with its own set of challenges. It’s important to have a quiet space where you can work, minimize distractions, set a routine, and focus on your goals for the day. Working from home with kids can add a new dynamic to your job. When our kids are on extended breaks from school and are sharing the same space, distractions can come more easily which can impact our productiveness. —Focus On the Family Inadequate equipment. This will present itself at some point. Here’s the way to beat it — be proactive and list what you need, then obtain those items before their absence becomes problematic. No boundaries is yet another challenge. Family members will interrupt — it’s inevitable. Instead of letting it happen, set a system in place to prevent interruptions. Effective Work-from-Home Success Strategies Now, we’ll get into some ways to keep your sanity — and to keep your family happy at the same time. It’s not rocket science, but these strategies will prove worthwhile. Here’s what you can do: Establish a routine. Now more than ever, it is key to establish a routine to keep your sanity, your focus and your productivity. Working from home can and will be a temptation to draw you into a relaxed sense of productivity as if it is the weekend. Take regular breaks. Run an errand or step outside to walk the dog. Stroll around the block once or twice or trek up and down the stairs. The idea is not to stagnate behind a desk or elsewhere. Just take brief breaks during the day. Don’t neglect household chores. If you’re working from home, you’ll probably want to avoid household chores. However, there’s win-win situations being missed. Throw in a load of laundry, put the dishes away. Mop, vacuum, or sweep the floor. When you do, you’re doing your family a favor (and yourself). Be careful not to let the household chores distract you from your focus on business responsibilities. Entertain your children regularly. Kids need to be active. And, you can take advantage of this to get outside yourself. Go to a park, play a game of catch, take a stroll around the block. Do fun things with them and you’ll both get something out of it by taking a break and spending quality time with your children. Embrace the power of work mobility. Now that things are beginning to normalize, it’s possible to get some work done at the local coffee shop. Or, sit out on the porch and make a few phone calls when it’s quiet. Do small household projects now and again. Don’t ignore those little things around the house that need fixing. Instead, work on small projects incrementally and reap the reward of pride and the benefit of having a better place to live. What other suggestions do you have? Please take a moment to share your thoughts and experiences by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.