Few things make an entrepreneur feel happier than accomplishing a significant goal. Many business owners approach their companies with concrete goals in mind for where they want to be in a few years. However, when you’re a new entrepreneur, it can be a challenge to plot your own course.
Having an example of what others who have come before you have achieved as entrepreneurs can help you decide what you should be doing next. For guidance, seven entrepreneurs from Young Entrepreneur Council discuss the most significant decisions they’ve made for their businesses and the positive effect those decisions have had.
1. Continuing My Education
I’m a huge proponent of investing in continuing education—in lots of forms—because I believe an investment in yourself is the best one you can ever make. I can trace so much of my success to the time and money I’ve spent pursuing things like my master’s degree, expensive performance coaches and training around all kinds of technology. Don’t be afraid to bet on yourself. – Brittany Hodak, Keynote Speaker
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2. Investing In Sales Training
Investing in sales training was one of the most valuable things that I did for my business. I intuitively understood marketing and how to deliver value to clients. However, formal sales training paid off in increasing my confidence in selling and increasing my closing rate. – Elizabeth Grace Saunders, Real Life E®
3. Hiring A Performance Coach
I hired a performance coach for the entire organization. She works with every type of employee, from our warehouse team members to our top sales representative. She is 100% focused on measuring and improving individual and team performance. She holds all of us accountable, is not afraid to have tough conversations that I typically shy away from and she does not accept half-hearted excuses. – Saloni Doshi, Eco Enclose, LLCMORE FOR YOUFive Things High-Performing Teams And Leaders Are Unafraid To DoLook To Employees’ Performance To Check On Their Well-Being16 Effective Techniques To Improve A Company’s Digital Marketing
4. Taking Time To Step Away
The best thing I do is take time to step away. Twice a year, I spend three weeks focusing on strategic planning and a big-picture vision—staying out of day-to-day operations entirely. This allows me to analyze the things we are doing right and the systems that need improvement, and create a vision and action plan for the future. It also lets others step up to lead so they learn how capable they are. – Katie Wagner, KWSM: a digital marketing agency
5. Learning How And When To Delegate
The single best thing I ever did for my business was learn to delegate. In the beginning, I tried to do everything myself, and I was spread way too thin and started to burn out. Learning to delegate appropriately and ask for help as needed truly allowed my company to grow and scale. It was the difference between being a business owner and an operator. – Rachel Beider, PRESS Modern Massage
6. Systematizing The Business
Systematizing the business has allowed me to free up a lot of time and energy that would have been put into micromanaging tasks. Instead, I built a scalable system to get the work done more effectively, and I have consistent playbooks, even for simple tasks. It helps to then outsource those things and make the business more effective. – Nicole Munoz, Nicole Munoz Consulting, Inc.
7. Hiring A Capable, Smart Assistant
Hiring a capable, smart and motivated assistant has been the best thing I’ve done for my business in recent years. She manages the overflow of my work and ensures all team members meet project deadlines. She ultimately saves me dozens of hours a month of work and is worth her weight in gold. – Kristin Kimberly Marquet, Marquet Media, LLC