On this April 21st, 2023 episode of Business Brain, the show for entrepreneurs, Robert shares his stress-relieving practice of taking a lunchtime walk or morning bike ride to help him deal with intense work demands. Dave and Shannon discuss the importance of time shifting and how flexible schedules can be beneficial. They also talk about the feedback they receive from viewers, which is why they do the show, and how each message sent in is entered into a drawing for a MacBook Air.
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Time shift to find success.
Time shifting is an important tool for entrepreneurs and business owners to find success. It is the ability to adjust one’s work schedule and lifestyle to maximize productivity and efficiency. Time shifting can provide entrepreneurs and business owners with the flexibility to work when they are most productive and reduce stress.
One of the major benefits of time shifting is that it allows entrepreneurs and business owners to work when they are most productive. For example, Robert, a one-man graphic designer, takes a 20-minute lunchtime walk around the block with his dog during the winter months and a one-hour bike ride along the ocean in the spring and fall months. This allows him to stay fit and relax, while also helping him to come up with his best ideas.
Another advantage of time shifting is that it can help reduce stress. Working during the same hours every day can become monotonous and lead to burnout. By taking breaks throughout the day, entrepreneurs and business owners can recharge and refocus their energy. Additionally, taking time off in the evenings or on the weekends can give entrepreneurs and business owners the opportunity to spend time with family and friends, which can help reduce stress and improve mental health.
Finally, time shifting can help entrepreneurs and business owners to be more efficient. By working during their peak hours, entrepreneurs and business owners can get more done in a shorter amount of time. Additionally, taking breaks throughout the day can help to keep the mind fresh and focused, allowing for better decision-making and problem-solving.
In conclusion, time shifting is a valuable tool for entrepreneurs and business owners to find success. It allows them to work when they are most productive, reduce stress, and be more efficient. By taking the time to adjust their work schedule and lifestyle, entrepreneurs and business owners can maximize their productivity and find success.
Trust employees and pay on time.
Trusting employees and paying them on time is also essential to a business’s success. Delaying payroll sends a terrible message to employees about how the business prioritizes its people and whether employees can trust the people running the business. It also creates a stupid risk. By not paying employees on time, businesses risk alienating their employees and losing their trust. Furthermore, many states have strict laws about when and how employers have to pay employees and failure to pay wages in the time required by the law is a criminal offense.
It is important for entrepreneurs and business owners to understand the importance of trust and timely payment of employees. By trusting and paying employees on time, businesses can build trust and loyalty with their employees. This will lead to a more productive and successful business.
Cash flow is essential.
Cash flow is essential for any business. It is the lifeblood of any business, and it needs to be managed carefully. Without proper cash flow management, businesses can quickly become insolvent. It is important for businesses to have a cash flow plan in place to ensure that they have enough money to cover their expenses, pay employees, and purchase necessary materials.
Businesses must also be aware of the risks associated with cash flow. Cash flow can be affected by external factors such as changes in the economy, competition, and customer demand. Internal factors such as poor management, inefficient processes, and lack of financial planning can also affect cash flow.
It is important for businesses to monitor their cash flow and take steps to improve it. Businesses should track their daily and monthly cash flow, analyze their expenses, and look for ways to reduce costs. They should also review their pricing and sales strategies to ensure that they are generating enough revenue. Additionally, businesses should look for ways to increase their cash flow, such as by offering discounts or payment plans to customers.
Cash flow is essential for businesses to stay afloat and succeed. It is important for businesses to have a cash flow plan in place and to monitor their cash flow regularly. By doing so, businesses can ensure that they have the necessary funds to cover their expenses and pay their employees on time.
Delegate to grow business.
However, it is also important for businesses to think about their long-term growth. A business cannot grow and succeed if it is not able to allocate its resources properly. This is where delegation comes in. Delegation is the process of assigning tasks and responsibilities to other people. By delegating tasks to other people, businesses can free up their own time and resources to focus on their core business operations and long-term growth.
Delegation can be a difficult process for many businesses, especially for those who are used to doing everything themselves. For example, a business owner who is used to doing all the programming, database design, and business continuity planning may be hesitant to delegate these tasks to someone else. However, delegation can be a powerful tool for businesses to accelerate their growth. By delegating tasks to other people, businesses can focus their own time and resources on the tasks that are most important for their growth.
In addition to freeing up time and resources, delegation can also help businesses build their credibility and reputation. Businesses can use social media, blogging, and AI to create content that will help them build their brand and establish themselves as experts in their field. This will help them to attract more customers and increase their profits.
Overall, delegation can be a powerful tool for businesses to grow and succeed. By delegating tasks to other people, businesses can free up their own time and resources to focus on their core business operations and long-term growth. In addition, delegation can help businesses build their credibility and reputation, which will help them attract more customers and increase their profits.