Welcome to Episode 16 of Season 1 – The Biggest Mistake That Entrepreneurs Make

Season 1 of the podcast is all about how you can start your first profitable online business. This season draws its shows from the free downloadable resource 'The 13 Steps to Creating Your First Profitable Online Business.'

The Biggest Mistake Entrepreneurs Make

One of the most harmful ideas that is popular in entrepreneur circles is the idea of needing to be in hustle mode 24/7, 365. And like all deceptions, it has an element of truth in it. 

Successful entrepreneurs certainly don't sit on their hands hoping for things to happen. Entrepreneurs are go getters who aren't afraid to take action. But successful entrepreneurs also realise that they can't hustle 24/7, 365. They understand the rhythmic nature of the world, and they embrace it. 

What Happens When We Don't Stop

• Burnout

If we just running at full speed all the time then, no matter how passionate you may be right now, you are headed towards burnout. And burnout will leave you incapacitated, lead to a loss of vision and suck you dry of all energy. It is not pretty and takes a really long time to recover from. A lot of people are never the same after burnout. 

Trust me, you do NOT want to experience burnout. The time you take out now to rest is nothing compared to the loss of productivity you'll experience when you hit the wall.

• Getting Lost in the weeds

The biggest mistake that most entrepreneurs make is working solely in their business and never working on their business. 

Countless opportunities are lost, essential pivots are missed, and obvious problems go unnoticed as your nose is down to the grind. 

If you want to be successful, you need to learn to pull back from the day to day (this is so much harder than it sounds as the pull of the urgent is difficult to ignore) and to invest time to work on your business.

• We Loose Our Creativity

Creativity requires space.

Have you ever noticed how your best creative thoughts seem to come to you in the shower, on walks and during other random moments. This is because creativity requires space. Your subconscious requires the time to come up with brilliant solutions.

You will find that the most creative of people block out space to just do nothing. 

How To Build This Rhythm Into Your Life

Life is relentless. Our to-do lists grow by the minute, the demands on our time from our clients, business partners, family and friends seems to never be satisfied. All of this will ensure that we never get a second to step out of the hustle to relax and recharge, to reflect and refocus.

So this means that you need to become intentional. You need to plan ahead of time and commit that no matter what, tis block of time will not be interrupted. This needs to be the commitment that you are most serious about. Block out the time in your calendar. You may even want to plan to get away from your usual surroundings to enhance your creativity.

Here are 5 blocks of time that you want to calendar to reflect and refocus:

• Daily for 5 mins

I love this block of time as it's so small and yet so impactful.

At the end of each day, ask yourself, "If I were to do today over, what would I change?"

Now, if you were able to improve yourself and your productivity by just  a tiny 1% each day... by the end of the year that would amount to a massive 365% improvement!

Never underestimate the power of small habits!

• Weekly for 30mins - 2 hours

At the end of each week I like to look back over what I have accomplished, see what still needs to be done and then focus on the upcoming week.

• Monthly for 2-4 hours

At the end of each month I like to focus on how well I'm doing in accomplishing my goals. I especially focus on what is working and what isn't working. This shows me where I need to pivot and make adjustments so I can reach my 90 goals. 

• Quarterly for half a day +

At the end of each 90 day goal run is an opportunity to look back, celebrate and then look forward to what the next 90 days will hold. Do goals I set earlier in the year need to be adjusted. Have new opportunities arisen?  I also use this time to break the goals down into 3 main chunks for each month.

• Yearly for a day - a week

My yearly review is an opportunity to celebrate. To really enjoy the fruits of my labour. 

It's also where I look ahead to the next year.

But the most important thing I do is review if I am becoming the person that I want to be. Is my business the sort of business I'm proud of and is it helping me to become the best version of me and support my desired financial / time & location freedom?

Take a Minute

I want you to take a minute to imagine you and your business 5 years from now and how different everything would be if you learnt to take the time out to work on your business and not just in business. Can you feel how enjoyable life is and how proud you are of your business and the person you are becoming? Can you feel the esteem you have in the entrepreneurial space? Can you feel the energy surging through your body because you took the time out to relax and recharge and to reflect and refocus?

My challenge to you is to right now book in your 5 min evaluation this evening and to block a chunk of time to do your yearly review.

Leave a comment and let me know how you got on.

It's The Close Of Season 1... Season 2 Starts Latter Half Of January

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