Challenges

I have been working with entrepreneurs for over 20 years now and I constantly hear time management is one of the biggest challenges anyone has to manage.

There is never enough time in a day or a week to accomplish everything you might want to complete. Yet, I have never met an entrepreneur who ends a single week with more time than things to do.

It then becomes a matter of setting priorities. What should be your first concern as a business owner?

Getting new clients! It’s as simple as that. Everything else can be outsourced when necessary. But when you have more than enough clients, you will have more than enough income to hire out all the tasks you don’t enjoy doing or rarely find the time to keep up.

Most entrepreneurs find they have a ratio. When approaching 20 new prospects, they will talk with 10 live, 5 will be interested and 2 will set an appointment and 1 becomes a new client.

If the one client earns you $1,000 during the course of the year, you will need 99 more clients to earn an average of $100,000/yr.

Then you can figure you will need to approach 2,400 prospects a year, 200 a month, 50 a week or 10 a day to keep up with your financial goals.

Once you’ve established you minimum goals and ratios, you can learn to control your income.

When you have learned to control your income, your time management issues are easier to manage.

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