As a small business owner and entrepreneur, you are probably well versed in all of the tips and steps to take when starting your own business. It seems there is no shortage of information available to entrepreneurs regarding financing options, how to staff a new business, how to market your business, etc. But did you know that there are changes you can make in your lifestyle that can have a very positive impact on your business and help it to succeed?
Starting your own business isn’t just a 9-5 kind of position. In fact, it ends up touching pretty much every aspect of your life. While you may not need to change everything about your lifestyle, there’s a good chance some changes are in order.
Don’t shy away from ruthless changes
Many people who start their own business have dreams of one day making it big, becoming rich, and essentially living the dream life. The problem is that it’s usually a long road, filled with a lot of hard work, sacrifices, and a little luck. This is exactly why digital consulting rock star, Sam Ovens, stresses the importance of making lifestyle changes in those early years.
Ovens is a firm believer that you can’t start your business and expect to have that lavish lifestyle right from the start. Instead, he encourages ruthless cuts so that you aren’t left worrying about how you’ll pay your rent, how you’ll afford groceries, or make your car payment at the end of the month. You want to try to live a simple and cheap lifestyle where possible so that it doesn’t end up causing more stress on your plate. He suggests that if it isn’t absolutely necessary, then it should be cut.
On the flip side, it helps to prepare you for the time where hopefully you do hit it big and money is no longer an issue. You will have learned the value and importance of living a simple lifestyle and you likely won’t end up being the type who squanders away their fortune.
Accept that ‘free time’ is a thing of the past
In order for your small business to succeed and flourish, it’s going to require a lot of sweat equity on your part. This means you can expect to work plenty of late nights and weekends trying to get your business off the ground. It won’t always be like this, but the beginning is certainly going to eat up most of your time.
Accepting that free time is likely a thing of the past means you won’t be setting yourself up for disappointment. Instead, during those rare days/evenings where you have time to yourself you’ll be able to really enjoy it, and make the most of that time.
Become a master negotiator
Now is the time to start practicing your negotiation skills so you can become a master negotiator. This will of course help you with your business, but it can also help you with your everyday life. In terms of your lifestyle, negotiating will help you from a money saving point of view.
Let’s take for example your mobile phone. Perhaps you’ve been on the same plan for a while now and you’re looking for ways to cut back on expenses. You can practice those negotiation skills to get the plan you need and want at a price that makes you happy.
Make success happen
While some people believe that success just happens, others understand that you need to make it happen through your own hard work and actions. In terms of starting your own business, those actions need to be evident in the workplace and your personal life.
Nominations are now open for the British Small Business Awards 2017, the leading event celebrating the brightest stars in the SME sector. Click here to enter, and make sure you get involved today using the hashtag #BSBAwards. Good luck!