Advertising
Advertising

How To Take Risks (Without Betting Your Business)

How To Take Risks (Without Betting Your Business)

I’ll be the first to say that the uncertainty in business is messy.

Real messy.

Especially when you want the risks you do take to pay off — big! Most of the time, if we’re honest with ourselves . . . we don’t want to take any risks.

We just want to create things and have people buy our stuff. But it doesn’t work like that, does it?

Running your own business you’re most likely playing to win.

Advertising

Although we may not come out on top all of the time, we can limit our risks significantly.

Planning to grow your business includes stepping out on a whim and following your gut. Your next brilliant idea can have you betting on a losing hand, if you don’t do these 3 things to minimize your risk and increase your gains. It could be what stands between you and your extra thousand dollar payoff.

1. Create Mini Projects, Not New Businesses

Can you say shiny object syndrome? (Definition – The immediate need to create an entirely new business model after being inspired by a dream you had last night.)

Before you begin drafting a flow chart, changing website copy and creating a whole new advertising campaign, play with the idea. Some projects need to be left in the idea phase, and some need to be tinkered with before you can move forward with a solid plan of action.

The awesome thing about working for yourself is being able to toy with new ideas and play with how to implement them into your current business.

Advertising

Where we get carried away is when we abandon one thing to chase another.

Calling your new idea, a project you’re “beta-testing,”is an easier pill to swallow than a business fail.

2. Start With A Low-Cost Trial Run

Are people excited about your new idea?

The sure fire way to find out is to put it to the test! Before you build a brand new marketing budget, set up a landing page with the benefits of your “beta-test” service.

  • Share it with existing clients on your mailing lists.
  • Reach out to new prospects on social media.
  • Throw it out there to a Facebook group in which your target audience hangs out.
  • And have a call to action to either collect emails or purchase.

Getting emails or better yet, dollars, confirms there’s a need. Wherein you can create a full-blown service.

Advertising

Investing too soon without the thumbs up from your ideal client, is shooting your business in the foot and will leave you broke (in time and money).

With today’s technology, it’s fairly easy to try out new ideas quickly.

3. Hit-up Your Competitors

Reach out to those dominating the spaces you have an idea for.

This is to see what works, not to share your idea, of course. Find out if has been done before what the current struggles are. Just because someone else is doing it, doesn’t mean you shouldn’t.

It confirms they’ve found success and left a blueprint for you to acquire the same.

Advertising

I have been guilty of trying to be too different and falling flat on my face. My industry space does things a certain way for a reason; because it works! Take my hard lesson and arm yourself with the data that turns ideas to $$ profit.

Never stop tinkering with fresh new ideas and beta-test them. This keeps you ahead of the game and innovative in your industry space.

If someone had to told me not to start a hot new business venture because it was “easy to do.” I would have avoided the painstaking months spent pounding my head against a brick wall trying to launch a SAAS ( Software as a Service).

Not to mention megaphone announcing to my family and friends “I’m building a software company!” with no tangible results to show 6 months later.

Nothing is ever a loss though, we learn from our mistakes and failures, but if you can avoid them straight to the bank –do that.

What’s your next calculated risk?

More by this author

Illustration Shows Why The Eight-Hour Workday Is An Outdated Concept women leader How To Unlock “Her” Confidence: 7 Secrets That All Successful Women Leaders Know business risks How To Take Risks (Without Betting Your Business) bold women Bold And Bossy? 5 Reasons Why I’m Not An Apologetic Woman social circle 5 Ways To Upgrade YourSocial Circle on Your Journey to Success

Trending in Entrepreneur

1 15 Best Entrepreneurs Books to Start Reading Now to Be Successful 2 How to Start a Small Business with Little to No Money 3 The Lifehack Show: Staying On Top of Your Game as an Entrepreneur with Frank Fiume 4 10 Employee Engagement Ideas to Improve Teamwork 5 Effective Employee Onboarding (The Complete Guide)

Read Next

Advertising
Advertising
Advertising

Last Updated on January 21, 2020

How to Increase Work Productivity: 9 Ground Rules

How to Increase Work Productivity: 9 Ground Rules

We all have those days when completing our assigned tasks seems beyond reach. With the temptation of social media, mobile games, and the internet in general—not to mention the constant bustle of people in the office—it’s easy to fall prey to disruptions and distractions at work.

So, what can we do about it? How to be productive at work?

While we don’t have a foolproof system that can completely eliminate disturbances and diversions, we do have 9 ground rules that can be applied to help give your productivity levels a boost.

Keep reading to find out our tips on work productivity.

What Does It Mean to Be Productive?

How to be productive at work?” is the age-old question plaguing employees and employers alike around the world. Regardless of where you work and what you do, everyone is always looking for new ways to be more efficient and effective.

But what does being productive actually entail?

Completing more tasks on your list or working longer hours doesn’t necessarily mean you’re being more productive. It just means you’re more busy, and productivity shouldn’t be confused with busyness.

Productivity means achieving effective results in as short amount of time as possible, leaving you with more time to enjoy freely.

It involves working smarter, not harder. It means refining processes, speeding up workflows, and reducing the chances of interruptions.

Productivity is best achieved when looking at your current way of working, identifying the bottlenecks, flaws, and hindrances, and then finding ways to improve.

9 Ground Rules on How to Be Productive at Work

1. Avoid Multitasking

Multitasking can give the impression that more tasks can be accomplished as you’re doing multiple things at once. However, the opposite is true.

Advertising

Research has shown that attempting to do several things at the same time takes a toll on productivity and that shifting between tasks can cost up to 40 percent of someone’s time.[1] That’s because your focus and concentration is constantly hindered due to having to switch between tasks.

If you have a lot of tasks on your plate, determine your priorities and allocate enough time for each task. That way you can work on what’s urgent first and have enough time to complete the rest of your tasks.

2. Turn off Notifications

According to a Gallup poll, more than 50 percent of US smartphone owners admit to checking their phones a few times an hour.[2]

Switching off your phone—or at least your notifications—during work hours is a good way to prevent you from checking your phone all the time.

The same applies to your computer. If you have the privilege of accessing social media on your work desktop, switch off the notifications on there.

Another good tip is to logout from your social media accounts. Therefore when you feel the urge to check it, you might be swayed because your page isn’t so easily accessible.

3. Manage Interruptions

There are certain disruptions in the office that are unavoidable such as your manager requesting a quick meeting or your colleague asking for assistance. In order to deal with this, your best approach is to know how to handle interruptions like a pro.

Be proactive and inform the people around you of your need to focus. Turn your status on as “busy/unavailable” on your work chat app.

If you’re on a deadline, let your colleagues know that you need to concentrate and would really appreciate not being interrupted for the moment, or even work from home if that’s a feasible option for you.

By anticipating and having a plan in place to manage them, this will minimize your chances of being affected by interruptions.

4. Eat the Frog

Mark Twain once famously said that:

Advertising

“if it’s your job to eat a frog, it’s best to do it first thing in the morning. And if it’s your job to eat two frogs, it’s best to eat the biggest one first.”

What this basically means is that you should get your biggest, most urgent task out of the way first.

We all have that big, important task that we don’t want to do but know we have to do because it holds the biggest consequence if we don’t complete it.

Eat the frog is a productivity technique that encourages you to do your most important, most undesirable task first. Completing this particular task before anything else will give you a huge sense of accomplishment. It will set the ball rolling for the rest of the day and motivate you to eagerly complete your other tasks.

5. Cut Down on Meetings

Meetings can use up a lot of time, which is time that can be used to do something useful.

You have to wait for everyone to arrive, then after the pleasantries are out of the way, you can finally get stuck into it. And sometimes, it may take a whole hour to iron out one single issue.

The alternative? Don’t arrange a meeting at all. You’ll be surprised at how many things can be resolved through an email or a quick phone call.

But that doesn’t mean you should eliminate meetings altogether. There are certain circumstances where face-to-face discussions and negotiations are still necessary. Just make sure you weigh up the options prior.

If it’s just information sharing, you’re probably better off sending an email; but if brainstorming or in-depth discussion is required, then an in-person meeting would be best.

6. Utilize Tools

Having the right tools to work with is crucial as you’re only really as good as the resources you have at your disposal. Not only will you be able to complete tasks as efficiently as possible, but they can streamline processes. Said processes are essential to a business as they manage tasks, keep employees connected, and hold important data.

If you’re the manager or business owner, ensure your team has the right tools in place.

Advertising

And if you’re an employee and think the tools you currently have to work with aren’t quite up to par, let your manager know. A good team leader understands the significance of having the right tools and how it can impact employee productivity.

Some examples of tools that could be used:

Communication
  • Slack for team chat and collaboration.
  • Samepage for video conference software.
  • Zendesk for customer service engagement.
Task Management
  • Zenkit for task and project collaboration.
  • Wunderlist for listing your to-do’s.
  • Wekan for an open source option.
Database Management
Time Tracking
  • Clockify for a free tracker.
  • TMetric for workspace integrations.
  • TimeCamp for attendance and productivity monitoring.

You can also take a look at these Top 10 Productivity Tools to Help You Achieve 10x More in Less Time.

7. Declutter and Organize

Having a disorganized and cluttered workspace can limit your ability to focus. According to researchers, physical clutter can negatively impact your ability to concentrate and take in information.[3] Which is why keeping your work environment well ordered and clutter-free is important.

Ensure you have your own system of organization so you know what to do when the paperwork starts to pile up.

Being organized will also ensure that you know where to find the appropriate stationery, tools, or documents when you need it. A US study reveals that the average worker can waste up to one week a year looking for misplaced items.[4]

Here’s a useful guide to help you declutter and organize: How to Declutter Your Life and Reduce Stress (The Ultimate Guide)

8. Take Breaks

Taking regular breaks is essential for maintaining productivity at work. Working in front of a computer can lead to a sedentary lifestyle which can place you at a higher risk of heart disease, diabetes, and obesity. Even a 30 second microbreak can increase your productivity levels up to 30 percent.

As well as your physical health, breaks are also crucial for your mental and emotional wellbeing. That’s because your brain is like a muscle, the more it works without a break, the easier it is for it to get worn out.

Ensuring you actually take your breaks can prevent you from suffering from decision fatigue. It can also help boost creativity.

Take a look at this article and learn why you should start scheduling time for breaks: The Importance of Scheduling Downtime

Advertising

9. Drink Water

Although we know we should, it’s easy to forget to drink enough water during the working day.

Many of us turn to tea or coffee for the caffeine hit to keep us going. However, like taking breaks, drinking water is essential for maintaining productivity levels at work. It’s simple and effective.

Not drinking enough water can lead to dehydration and also headaches, tiredness, and weight gain.

A good tip to avoid dehydration is to keep a water bottle at your desk as it can serve as a reminder to constantly drink water.

If you find the taste of water a little bland, add some fruit such as cucumber or lemon to give it a better taste.

You can also get more ideas on how to drink more water here: How to Drink More Water (and Why You Should)

The Bottom Line

The preceding 9 ground rules on work productivity aren’t the be-all, end-all. You and the company you work for may have other tips on how productivity is best increased and maintained.

After all, it’s something that can be perceived differently depending on the exact job and work environment.

In saying that, however, the 9 ground rules serve as a good foundation for anyone finding themselves succumbing to disruption and distraction, and are looking for ways to overcome them.

A good tip to keep in mind is that change doesn’t happen overnight. Start small and be consistent. If you slip up, just dust yourself off and try again.

Developing habits happens gradually, so as long as you keep up with it, you’ll soon start to notice the changes you’ve been making and eventually enjoy the fruits of your labor.

More About Boosting Productivity

Featured photo credit: Cathryn Lavery via unsplash.com

Reference

Read Next