Time Management Tips for Entrepreneurs

Long-time entrepreneur Nathaniel (Nathan) Brown has founded several successful ventures in the auto sales industry, including Auto House. Nate Brown was able to start his businesses while working in asset acquisition for real estate management firm Alberk Properties. Nathan Brown attributes his success to his determination and ability to meet self-imposed deadlines.

Good time management skills are essential for entrepreneurs, who often have to handle several important projects at once.

Entrepreneurs benefit from breaking down complex projects into simple, more manageable tasks. For example, a new campaign can be reworked into multiple phases, each containing a series of smaller tasks. This way, the entrepreneur has a better understanding of his or her progress and can identify and address potential bottlenecks and plan accordingly.

Paradoxically, taking breaks can also boost productivity. Though some entrepreneurs associate busyness with progress, an overloaded schedule can actually result in frustration and burnout. Scheduling short, frequent breaks away from the desk help entrepreneurs relax and refocus, enabling them to complete their work more efficiently.

Important Steps for Creating a Business from Scratch

Nathan “Nate” Brown, an asset-acquisition professional, co-founded Auto House in North Carolina more than a decade ago. Alongside his partner, Sam Ketner, Nate Brown grew Auto House from scratch into a successful business with two locations and more than $100 million in annual revenue.

Below are several steps every entrepreneur needs to take when starting a business from scratch:

- Research the market: Before starting any business, entrepreneurs must become experts in their market. Not only must they research competitors, they must also research how much demand there is for their product or service. Understanding the market properly helps entrepreneurs figure out the details of their business, such as where to open or what sort of advertisements they need.

- Set a financial goal: Having a goal in place gives entrepreneurs a clearer idea of the steps they need to take for success. Good financial goals are realistic and are updated and changed frequently to reflect a business’s growth and the evolution within its market.

- Create a clear business plan: A business plan is an important part of starting any business because it details how an entrepreneur hopes to market their business, handle daily operations, and set pricing for products. In addition, business plans detail a company’s vision and mission, and guide a company throughout its entire life.