There are three key things you need to build a successful business:
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Time
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Energy
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Money
If any one of these is lacking, it is going to need to be made up for in one of the other areas.
Let’s take a look at them one at a time.
Time
Building a successful business takes time. And it is likely to take a lot longer than you think. All too often we set up our small business thinking we are going to be drawing a full time wage within a month or so. All too often the reality is different. We end up working for nothing for the first 12 months or just drawing a paltry sum that barely covers a pair of tights each month.
And on the subject of time, everything we do seems to take longer than expected. I will just write a quick blog I hear you say. And three hours later you are still staring at a blank screen. I will just make a quick update to my website I hear you say. And two weeks later you are still playing around with the design and the layout. I will quickly set up a mailing system I hear you say. And days later you are still tearing your hair out and wondering what the hell everyone else is on it about when they say it is all so easy.
If you don’t have time, you are going to have invest money to make up for it. You are going to have to spend money on marketing rather than trying to do everything for free on social media. You are going to have to spend money outsourcing all those tasks that are eating up the precious hours in your day.
Energy
You are going to need massive amounts of energy to build your own business. The time it takes will easily leave you feeling drained and exhausted and it will be all too easy to feel like throwing in the towel.
One of the dangers of building a business, particularly when working from home, is that we let healthy habits slip. We stop taking exercise as we just want to get one more task squeezed into the day. We stop eating healthily and grab chocolate bars and coffee whilst chained to our computer screens.
This soon leaves us feeling sluggish and out of kilter.
To build a successful business, you need to take of yourself first and foremost and keep your energy levels up. You need to take regular exercise, you need to keep healthy and you need to get enough sleep. If you energy levels drain, you will end up either ill or having to take time out to recharge the batteries.
If you don’t have energy, it is going to cost you more in time and money. It will take more time to build your business or you will have to invest more money to get someone to take over your work for you.
Money
Yes, you are going to have to invest some money! I’m sorry to break the bad news to you but those get rich quick schemes where you only have to put in a few pounds or dollars up front just don’t work. I have had numerous people send me their schemes but when I ask to see their bank details or profit and loss statement to validate their claims, they disappear into the mist never to be heard of again.
You need to invest in the tools to do the job. You can get many free versions of systems and software, but if you really want to build your business, it is the paid versions that you need. You need to invest in yourself and the businesses that really move forward faster than the others invest in a coach. I invested in thousands for a coach for myself. Even though I am a business coach, I still need someone to help me with new ideas and to hold me accountable for achieving results. Without this, my business would have taken vastly longer to be successful.
If you don’t invest money it is going to cost you more time and energy. You can try to build a business on a shoestring but you are likely to end up just running a very expensive hobby for many years to come. And more time is going to take more energy. You really need to look at the potential return on investment and savings in time and energy rather than holding on those purse strings.
Do you have these three key areas covered or is the lack of one of these hampering your success? Let me know in the comments below.
