As the saying goes ‘you have to follow your dreams’, unfortunately for many they simply can’t. A lot of people end up with a nine to five desk job, work their way up the corporate ladder and then retire. As an entrepreneur you are in the privileged position of actually following your dreams,starting your own business and doing what makes you happy.
After endless planning, gathering the necessary funds and cutting through the red tape to get your small business up and running, it could be said you’re living the dream. But that dream can easily turn into a nightmare and the tediousness of managing daily tasks and the weight of the cash flow responsibility might start taking its toll on your aspirations. But fear not. Here are ways to help you negate a lot of the stress and daily monotony that goes along with running a startup business so that you can get back to being an ideas machine.
Maintain your spark and don’t get bogged down by daily tasks.
The first thing to fly out the window when starting your own business is your motivation to think creatively. Once the actual management of tasks and daily processes kick in, you find yourself juggling more things than you can handle and the excitement of starting your own business quickly wears off. That’s why it’s crucial to maintain your entrepreneurial thinking.
You can’t risk losing your creativity and affinity for coming up with new ideas as this is exactly what sets you apart. You need to remain focused on the daily operations of your startup without losing your entrepreneurial spirit. It’s a tough world out there and many other people have great business ideas too. Without your creative spark you won’t be able to spot new opportunities in the marketplace and may possibly lose your footing.
Keep your head up as you will face many challenges on the road to success.
Whether you want to admit it or not, there is a high failure rate among startup businesses in South Africa. Add to this the pressure on small businesses from government, to create millions of jobs and you have more than enough reason to fear failure.
You are going to face more challenges than you could’ve possibly imagined when starting your own business, so you have to toughen up and learn to deal with disappointments. Just because you failed once or even twice naturally mean third time lucky. One of the best ways to combat demotivation is to ensure that you keep on top of all of the elements that could potentially sink your business. Find smart tools and software to help you manage daily tasks, communication, travel and finances.
Get a helping hand – you can’t do everything yourself.
A great way to continue fuelling your creativity is to delegate some of the tasks that you simply can’t get around to or might not have the skills to carry out yourself.
When starting your own business, your budget will be restricted so when you employ someone ensure that that they are the right fit. Firstly, they need to share the same passion as you have for your startup. Secondly, they need to have the right attributes to fill in the skills gaps and manage tasks on your behalf. The more you can delegate to your staff, the more time you have to come up with innovative ideas for new products or to simply grow your business.
Address your fear of finances and simplify how you deal with your money matters.
One of the top reasons why startup businesses fail is poor financial management. It’s the cause of sleepless nights (and nightmares) of many a small business owner; usually due to a lack of understanding of financial admin and documents. While money management is a key aspect that every startup entrepreneur needs to address, it doesn’t have to drain your time and energy. You don’t have to be an accountant to manage the finances in your startup business – you just need learn maintain a basic filing system and some help in the form of accounting software.
Our easy-to-use online accounting software is not only affordable but simplifies various financial aspects that your startup will deal with on a daily basis. With SMEasy you can effortlessly manage your quotes, invoices, payroll, cash flow and even your personal finances. Let us take care of your money matters while you get back to generating innovative business ideas.