Lack of time is one of the main reasons why business owners postpone the idea to open an additional business. There are always "more important" tasks, the list of which is inexhaustible. You are sure that in 2-3 months there will be more time, but this does not happen.
It turns out a vicious circle of work tasks, and not anybody can get out of it. This article is intended to provide simple and effective recommendations for optimizing the workflow, which will help to allocate time for the opening of another business.
Step 1: Planning
Everything starts with an idea. It does not matter what additional business you want to open, it is important to outline what do you need for this. How much money to invest? How much will it take to work? How many people will be required for work? Well, and the most important - what do you have at the moment?
A common practice for opening another business is to buy a franchise. Having an experienced partner who has already made his mistakes will save a lot of your time.
In the search for investments
Most likely, you know how much money is needed. If the necessary funds are not available - take care to find co-investors, secure a profitable loan or increase the return of the leading business. Anyway, the search for investors will take your time.
Consider which of the existing staff can be involved in a new project. Evaluate the risks (for example, is it going to someone from key female employees to go on a decree?) and ask personally, if needed.
Make a list of tasks
For sure, to head off to a new project, you have to complete some tasks in your main business. Indicate what is urgent, and what is not.
Set a deadline
You remember the chaos while completing the main tasks before the holidays. Calculate how long will take to complete the most important tasks and choose a date. Not a bad option to notify your business partners about this, so as not to lose the impetus to do everything on time. Commitments can spur you on.
Step 2: Preparation
After planning, start implementing your ideas.
Denoting the amount of work, delegate the maximum of tasks to subordinates if possible. Yes, it is necessary to allocate time for training; but in the future, your main business will work autonomously. By the way, take care of working conditions: key employees should be satisfied with their work, as well as with wages. Consider this as an investment in the independent work of your business and minimizing the risks of important professionals’ leave.
Reconsider your work schedule
You are not working at full strength, are you? It may be necessary to give a few more hours to do your tasks.
Continue saving money for investment
If necessary. In that case, you have to limit expensive purchases, outbound vacations, and other huge expenses.
New business partners, investors will be able to help in the future to multiply your personal income. Communication is the key to a successful business.
Tell about your plans
Think about how awkward it will be to justify yourself if you don’t do anything out of the planned.
Remember the Pareto rule. Your goal is to choose only those tasks that give the maximum result. Remember this, while analyzing in the morning a list of upcoming affairs.
Don’t involve relatives
Even if they ask to. Now you need to squeeze the most out of the whole team and yourself. Taking in the staff of a relative, you lose the leverage of pressure on a person.
Work constantly two hours more daily, work on weekends, avoid communication with family - bad ideas. But to abandon the computer for the weekend, spend time with relatives and friends, walk outdoors - that’s what you need. Successful businessmen say they draw strength in their family. This is what makes a person work hard. Thanks to the family, the efforts make sense.
Gym and other sports activities can also act as a source of energy. You put overload to your body overload, do not neglect your health.
Step 3: Implementation
The goal is achieved! The new business is started. At this point, your attention is focused on new tasks.
Our only advice is just not to forget to supervise your main business. Look at the results, implement KPI.