Virtual Entrepreneur

Things To Do Differently As An Entrepreneur

June 23rd, 2008 | Author: Master Money

Getting Started by Kris Olson:
Have Financial Controls in Place
Because I did not have the systems in place, like an in house bookkeeper that keeps track of all income and expenses properly on Quickbooks, I could never tell exactly where we were and what trends were taking place for us to plan from. I could tell you what was in our bank account since I carried the checkbook with me and had to balance it regularly, but that is not running a company ‘by the numbers’ as the majority of truly successful businesses do.

Kris: Every startup I have worked in immediately started with Quickbooks, but that is probably because they were venture-backed and had access to experienced coaching and networking. (Microsoft offers Microsoft Office Accounting, I must mention.)

Do Not Become the Only Sales Professional
…to breakthrough to the other side of owning a growing business instead of merely a job, you have to choose not to produce and keep being the engine behind the revenue and start recruiting, training and managing the sales force that will become that engine.

Investing in your future growth always comes first.

Take Off Time for Fun and Relaxation
By forcing yourself to get everything done in 30-40 hours, you get more done because you have deadlines and time restraints and you start doing only that which is truly important.

At my business school reunion a year or two ago, a very successful classmate shared how he has made having fun a priority (Mexico, skiing, golf, kids, etc.) – maybe two full days per week – and is able to be more focused and efficient. He does work from whever he is. A new model? Working smart vs. working hard. Stressed out entrepreneurs do not always do the best thinking, collaborating or people managing. I can vouch for that from first-hand experience!

Find the Right Mentors and Resources… read on.

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