Home
>
Time Management
>
A Fatal Mistake that Can Cost You Your Business ? And More

A Fatal Mistake that Can Cost You Your Business ? And More

Whether you're a new business owner or if you have been running your business for several years, one of the biggest challenges you face at one point in time or another is overwhelm and imbalance.

How many nights have you dragged your weary body to bed only to lie awake for hours with nagging thoughts of what you haven't done or don't have answers to?

How many of your children's' ball games and school functions were missed because you had business commitments?

How many evenings did your partner spend alone because you were burning the midnight oil by speaking on the telephone or hovering over your keyboard, workbench or reference materials?

Was this because you loved what you were doing so much that nothing else mattered, or was it because you felt you had to do everything alone?

One of the biggest mistakes small and home-based business owners make is assuming they have to become the chief, cook and bottle washer and perform all of their related tasks flawlessly and concurrently.

I know many entrepreneurs who suffered failed relationships and experienced great loss because they over-committed themselves to their businesses and let everything else important to them fall by the wayside.

Many of today's most renowned entrepreneurs and success stories will tell you of losses they experienced because they didn't know how to do things right the first time or how to balance their priorities.

I was one of those people.

When I was building my first business in my 20's, I locked myself in my office for days on end. I would pour over books trying to learn business skills. I would be on the phone trying to drum up customers using painfully ineffective sales techniques I made up myself.

I created my chart of accounts, set up my bookkeeping system and decorated my office. I made flyers and pinned them up around town. Then I went home and waited for the phone to ring while I studied my product literature and organized and created and collected endless sources of information I thought were necessary for business success.

My partner spent many of his evenings and weekends alone. He would make dinner. I would join him once in a while, then head back into my office.

I wanted to succeed. I wanted to be my own boss and earn my own way and thought if I could invest every possible waking minute of my life to learning about business and acquiring all of the skills necessary, I would create the success and freedom I desperately sought.

Unfortunately, the biggest lesson I learned was, if you lock yourself in an office for two years straight, there probably won't be anyone waiting for you when you come out.

I learned that I had been completely unrealistic and selfish in my thinking.

No successful businessperson has made it entirely on his or her own. If there is an exception to this statement, the success probably came at a terribly high price, and in the end, would you call that success?

What is important to understand firstly, is you must have a product or service that provides significant and perceived value for the customer.

What you also need to understand is you don't need to be an IT specialist, sales or marketing expert, professional copywriter, or have an accounting designation to be a successful entrepreneur (unless of course it is the service you offer!)

You do, however, need to surround yourself with trusted people who are skilled and knowledgeable in the areas you aren't.

It's all about creating a success team and leveraging your time so you are focusing on what is most important and on what you do best.

You've probably heard this many times over, but you need to work "on" your business and not "in" it.

You have the vision of where you want to take your business and the future you want to create, so don't allow yourself to get bogged down by the tasks that take you away from your big picture.

I learned how to do things differently after what some may call dismal failures. (I prefer to call them valuable learning experiences.) I became wiser and put my ego on the shelf.

I understood that working alone and trying to be and do everything was foolish and counterproductive. It didn't mean I was weak or lacking in any way.

I learned how to create a success team and a mastermind group. I surrounded (and continue to surround) myself with mentors, coaches and people who are always a step or two ahead of me on the life and business success ladders.

I have a Sales Coach who constantly challenges me to expand my thinking, and a Marketing Genius as my mentor who bestows his infinite wisdom on me, and moves me to higher and higher levels of development and achievement.

I have a mastermind group I speak with bi-weekly who share in my wins, explore ideas and opportunities with me, help me analyze results, and hold me accountable to remain in balanced action. I provide the same support for them.

Surrounding yourself with people who are as committed to your success as you are and who not only fill the gaps, but continuously push and pull you forward is absolutely necessary if you want to achieve business success without paying a heavy price.

This week, take an inventory of where you are allocating your time.

Have you created a healthy balance between life and work to the point you are fulfilled in both areas?

If the balance is tipped, what activities can be discontinued, delegated or leveraged to regain stability?

What type of people do you need to surround yourself with to ensure smooth, continuous progress without placing the entire burden on yourself?

Spend time on these questions. Be honest with yourself and responsible in your answers.

If you acknowledge that change is required in the way you operate your business, take action to make the change necessary, always keeping your best interests and those of your business in mind.

Laurie Hayes works with small and home-based business owners who are struggling to maintain a healthy work/life balance. To receive valuable tips, strategies and techniques designed to grow a successful business without sacrificing quality of life, subscribe to her free bi-weekly newsletter at http://www.wheretheheartis-lifecoaching.com

disinfecting cleaning services Buffalo Grove ..

In The News:

Joe A. from Shelton, Connecticut, lost $228,000 to a ZAP Solutions cryptocurrency investment scam after his divorce, highlighting rising online fraud.

AI-powered autonomous trucks from Waabi and Volvo target U.S. freight driver shortage with Level 4 self-driving technology and NVIDIA computing platform integration.

Survive flight disruptions with expert travel tips: Book early morning flights, download airline apps and know your refund rights during service cuts.

Apple's iOS 26.1 update delivers major security fixes, performance boosts and enhanced privacy controls for your iPhone. Discover why updating now protects your data.

Russian hackers use fake CAPTCHA tests to spread dangerous malware targeting governments and journalists. Learn how to protect yourself from these deceptive attacks.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Miami-Dade debuts America's first autonomous police SUV with AI cameras, drone deployment and real-time crime detection in groundbreaking law enforcement pilot.

Bank impostor scams cost Americans $2.9 billion as criminals use AI voices and caller ID spoofing to steal life savings. Learn nine essential fraud protection tips.

Foreign-owned apps secretly harvest personal data from seniors, making them prime targets for scams. Learn how to protect your privacy and stop data brokers today.

Sens. Josh Hawley and Richard Blumenthal introduce bipartisan GUARD Act to protect minors from AI chatbots through mandatory age verification and disclosure requirements.

Ghost-tapping scammers exploit wireless technology to drain accounts through small transactions, but RFID-blocking wallets and transaction alerts can protect you.

French pilot project demonstrates wireless charging roads that can deliver over 300 kilowatts of power to EVs while driving, potentially eliminating range anxiety.

YouTube's Ghost Network spreads information-stealing malware through thousands of fake videos offering cracked software, using compromised accounts and fake engagement.

Protect your privacy by disabling your smart TV microphone. Most TVs have hidden mics that listen even when voice commands are off. Learn quick steps to stop unwanted audio capture.

SessionReaper vulnerability hits Magento and Adobe Commerce stores, compromising 250+ sites in one day. Hackers steal data and hijack shopping sessions.

Master essential parental controls and digital safety tools to protect your kids online. Learn screen time limits, location settings and privacy controls every parent needs.

Cybersecurity expert shares six essential steps to protect against dark web threats, including data removal services, password managers and antivirus software.

NVIDIA GPU space mission could revolutionize cloud services by enabling orbital data centers that make apps, games and AI tools faster and more efficient.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Microsoft warns Windows 10 users face serious security risks as 90% of ransomware attacks target unsupported systems. Learn why upgrading to Windows 11 is crucial.

Nike unveils Project Amplify, revolutionary motorized shoes developed with Dephy that add powered assistance to every step for runners and walkers.

Cybersecurity experts warn about one of the largest credential compilations ever found, urging users to check "Have I Been Pwned" and change passwords immediately.

Quick iPhone and Android battery optimization techniques help your device stay powered all day by turning off hidden features that secretly drain power in the background.

Kodiak Driver autonomous truck achieves perfect 98 safety score, matching top human fleets in groundbreaking AI evaluation by Nauto's VERA system.

New 401k catch-up contribution rules in 2026 will change taxes for high earners over 50. Learn how scammers exploit these changes and protect your retirement savings.

A Fatal Mistake that Can Cost You Your Business ? And More

Time Management