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What are The Core Qualities of a Successful Entrepreneur?

What are The Core Qualities of a Successful Entrepreneur?

As an entrepreneur, one of the most important things you can do for yourself is to set up a feasible work-life balance. When most people start their business, they eat, sleep, and work. From their life experience, they understand the real meaning of hustle and persistence. Their entire focus is on building something successful. In this race of success, they can let work consume all their life. So in this article, we will tell you about the core qualities of a successful entrepreneur you should introduce in your life.

Core Qualities of a Successful Entrepreneur

Balancing the demands of your business with your everyday life is critical to you and your business’s well-being. Now we are going to discuss some easy qualities that can help entrepreneurs easily manage their work without affecting their normal life. 

Plan Ahead

Plan Ahead - Core Qualities of a Successful Entrepreneur

Preserve your schedules and give attention to your time. It’s great to mindfully organize meetings with clients and potential customers. Describe your need to provide them your entire attention and support. After that, offer fitting windows of time in which a meeting can take place.

Take some break

Taking breaks at work can increase productivity

It’s essential to know that spending your time away from work can assist you to remain focused while you’re at the workplace. It’s not about the amount of time you sit at your workstation, it’s about the number of quality hours you spend at a task with your full attention.

It takes many efforts to recognize and accept that getting some pleasure out of your time off is beneficial for your mental well-being. Besides, what’s good about having a successful business if you can’t take some time off and enjoy life?

Hire the right people

Hire the right people

The next thing is to hire smart people who can effectively manage your business in your absence. It will enable you to take some days off and spend more time with your family. This is the reason why employing suitable people is important. Or else, you will end up losing your own time to keep the business growing and ultimately wear yourself out.

Use business tools

Timelo - Time Tracking Software

There are numerous of business-related services and tools available online. Rather than trying to manually perform your tasks, look into apps and software that can assist you to automate and streamline your business. This saves time and money in the long-run.

For instance, Timelo is a cloud-based time tracking software to keep the record of worked hours for billing, payroll, and other processes.

Stay Healthy

Stay Healthy - Core Qualities of a Successful Entrepreneur

It’s difficult to encourage and inspire others when you aren’t healthy. It doesn’t matter what kinds of sales you’re bringing in, if you’re not taking care of your body, it won’t be sustainable. Put self-care at the top of your priority list. Exercise, consume a healthy diet and sleep 6-7 hours per day. 

These are just some easy techniques with which entrepreneurs can balance their personal and professional life. In the end, it all depends on the individual what he wants to do with his life.

 

Why Setting Deadlines in Time Management is Important?

Why Setting Deadlines in Time Management is Important?

Productivity is one of the ultimate goals for most of the people. It doesn’t matter if you work in an organization or just stay at home and take care of things; you will most probably be interested in being productive, which implies that you must be efficient. But the question is how to do it? Many things can be done, and one of the most important is time management. If you want to be productive, setting deadlines in time management is necessary.

Deadlines in Time Management

You do not have always to achieve your deadline at work, go to the gym and exercise, spend time with family and friends, or manage your business. This limitation in the time that you have in a day makes setting deadlines in time management important. If you do not keep a track of your time, chances are, you will be missing a lot of important things, which drives directly to the piling up things to do. Such an attitude causes additional stress, making you feel you’re running out of control.

Deadlines in Time Management

How to deal with it?

There’s no quick approach to deal with such stress unless you have good team building skills, discuss the possible solutions to resolve the problem, and then stick to the plan. After that, here are some useful measures that can help you to solve the problems.

Choose the right tool

Timelo - Time Tracking Software

First and foremost, you should have a competent time tracking software with lots of advanced features, effective when running your own business, or working as a freelancer. Timelo provides you the facility of time tracking with reporting to show the real team’s performance. It’s also equipped with budgeting and invoicing features to bill the customers precisely.

Avoid Procrastination

Avoid Procrastination

Setting deadlines will help people who are used to procrastinating. By tracking time, it is likely to know how much time is left before the deadline of a particular project. This will assist you to be under the schedule that has been originally planned. 

Improves discipline

Deadlines in Time Management

Setting deadlines in time management can also be necessary when it comes to discipline. In times like these, when we’re locked down at our homes, both working and living at the same place, it’s difficult to stay completely focused on our tasks. When you understand how much time is left, you will be compelled to let go of distractions and, rather, focus on the things that you need to achieve within a specified time.

Determine Improvements

Productivity

Another importance of setting deadlines in management is that it will assist to decide the required improvements. You can learn from the time that has been tracked from earlier projects. Were the past deadlines reasonable? Based on data that your hours’ tracker points, it can be perceived that the plan was a little tight, you can allot more time for the tasks so that it can be achieved based on the plan that is envisioned.

Why Team Building is Important for Your Business?

Why Team Building is Important for Your Business?

You would be familiar with how difficult it is to deal with the responsibilities when the team isn’t sufficiently collaborated if you work for any firm. Projects, like solving problems, collaboration, and reaching the company’s goals, need the team to work together and each team member should thoroughly prepare to cooperate. But when people aren’t on the same intuition, it is very difficult to deliver the highest quality of outcomes. In this article, you will learn why team building is important to get the desired goals.

Why Team Building is Important?

Team building is a cumulative term for different types of exercises used to improve social associations and determine roles within teams, often including collaborative responsibilities.

Why Team Building is Important?

Team building implies the presence of correlations between the employees. Most of the businesses are based on a particular hierarchy; consist of the teams managed by the team leader accountable for the allocation of the duties. The way they’re leading the team of different characters is the key to success – the more energy they put them to work together efficiently, the greater the results team scores. 

What is Team Building?

Unluckily, it’s usually different from reality, particularly when the business owners are profits-oriented and don’t care about the process the objectives are achieving. The lack of precise project management results in inadequate communication and surpassing deadlines. So the question is how to avoid all these problems?

Benefits of Team Building

Team building or teamwork is an accurate solution to this. The process involves every single action that influences the group of people to become a one, progress-oriented structure. Each of its measures should be concentrated on employees’ progress, unleashing their creativity, highlighting their strong points.

Teamwork

Team building means spending time as a team together and in fact, it doesn’t need too many funds to invest. One of the most affordable options is just ensuring your employees a lunchtime when the teammates can just enjoy the meal together. Such breaks can also use to build the relationships between the departments – sales team, marketing team, dev team, and leaders can just spend some time in person because in the online collaboration age we’re lack of face-to-face communication.

Why Team Building is Important?

As you can see, team building needs social intercommunication. Managing a team of individuals can be difficult and sometimes causes a true headache, but directing team-building gatherings can help manage the process quickly and efficiently.

Project Management Skills You Need to Learn in 2020

Project Management Skills You Need to Learn in 2020

Being a project manager does not mean sitting on a head chair and giving orders. A project manager is liable for inspecting a project from its initial stages to outlining and all the way through to finish and delivery. And all of this happens after managing the project team, assigning their tasks and responsibilities, observing their progress, all while being under a strict deadline with a restricted budget. In short, being a PM is not easy. So here are some project management skills you need to master to become a successful PM.

Project Management Skills

In this article, we have included some basic and crucial skills a project manager needs to have in today’s rapidly developing world, why they are so essential to have, and what you can do to master them.

Communication

Communication - Project Management Skills

One of the basic skills for project management is communication and essentially, a project manager’s job consists of communication with their team, with entrepreneurs and merchants, with project stakeholders and even clients. That’s why being qualified to carry one’s perception, opinions, and thoughts in a way that’s open, practical, and simply recognized, as well as being able to understand others, is an outright necessity.

Negotiation

Negotiation

Right after the communication comes negotiation. Executing a project is much like politics. It usually involves a group of different people, sometimes with different aims and opinions, and it’s the PM’s responsibility to find the middle spot and make certain that everyone is satisfied. A good project manager is being able to get everyone on the same platform and find a solution on which everyone agrees, or at the very least nobody feels their idea is neglected, is an ability that every successful project manager needs.

Leadership

Leadership

If there is one skill that describes the role of a project manager, it’s leadership. As a project manager, you don’t just supervise people around, you lead. You set the idea, set goals, and drive your team members to achieve them. And it’s your responsibility to make certain that everything along the process is going fine at all times – issues are quickly dealt with, any proposals or inquiries are discussed, and team performance is always observed and assessed with timely feedback.

Planning and Scheduling

Planning and Scheduling

Another one of the basic skills needed for successful project management is planning and scheduling. Without a plan, there is no project. So the strength to establish the project goals and split them down into actionable tasks. Good planning includes things on both the larger-scale – outline scope, material requirements, timelines, assessments, deadlines to smaller, as well as more ordinary things – organizing your projects throughout the day and making a to-do list with your everyday goals.

Risk Management

Risk Management - Project Management Skills

Directly linked to planning is risk management skills. Planning a project always involves several risks. Things can go reverse; it’s just the nature of business. And it is your responsibility as a project manager to analyze those risks to make certain they don’t become obstacles, as well as have a substantial plan for how to alleviate them if they do.

Time Management

Time Management

A big duty of being a project manager is determining and communicating what your team will be spending their time on, as well as keeping control of your own time. And this is where a strong grip on time management becomes really important. As a person in charge of a team of people with dozens of various tasks, there’s an unending list of things you need to be aware of at any given time. A good project manager can quickly decide which tasks need preference over others, what tasks are the most critical and should be worked on right now and which ones to delay for some time.

What is Float Project Management and what are the Benefits of It?

What is Float Project Management and what are the Benefits of It?

If you’ve been working in project management for quite some time, then you have presumably heard about float project management. While it is not so famous as other project management structures, float project management can be an effective way to boost your projects and give your productivity a great rise.

Float or slack is the amount of time an assignment or task can be delayed without it affecting the overall deadline or other assignments in the project. Counting them can assist you to verify your project plans and make certain you recognize whether you’ll be able to finish projects on time.

What is Float Project Management?

What is Float Project Management?

Float project management is a kind of project management that assists you to verify your project plans and work out how much time individual assignments can shift without affecting the overall timeline or delivery date.

If you already have a reliable method of handling the assignments that make up a project but cope with resource management or resource scheduling, float project management can be an exceptional approach to evaluate your team’s time more precisely and stop projects missing their deadlines.

What are the Benefits of it?

Benefits of Float Project Management

Float project management is extremely helpful because it assists distinguish which tasks are ready to be affected by delay or restructuring without harming your overall project. It also assists you to stop cutting path tasks from being taken back or moved which then prevents your project from missing the deadline.

Being able to distinguish float or slack in your projects is especially beneficial. Finding compliance in your plans indicates you can improve resource scheduling without requiring additional client or management approval for new deadlines. 

How to Calculate Float in Project Management?

How to Calculate Float in Project Management?

If all of this seems beneficial to you, you’re apparently thinking about how to determine float time in your projects. Luckily, float can be readily calculated using the float time formula.

The float time formula works out float using the earliest and latest start or finish times for individual tasks. The formulas are:

  • Float = Late Start – Early Start 
  • Float = Late Finish – Early Finish

For illustration, let’s consider two tasks, Task A and Task B. Task B can’t start until Task A is completed and Task A takes 5 days. But in your schedule, you’ve allotted 15 days for Task A to be finished. That implies that Task A could start 10 days after the scheduled start date without affecting Task B. The float for Task A is then 10.

Strategies For Business Survival in Crisis: Business Guides

Strategies For Business Survival in Crisis: Business Guides

We often face times when our business suffers a crisis. With the spread of coronavirus pandemic over the world, for many firms and stakeholders, such a time has come. We’ve all endured the consequences of COVID-19. But for businesses, it’s way more serious than just being isolated at home. What to do and how to manage crisis management in such stressful circumstances? Here is business guidance for survival in a crisis.

Guidance for Business Survival in a Crisis

In this article, we will discuss some techniques that will help you to handle your business in this difficult time.

Guidance for Business Survival in a Crisis

What Is Business Crisis Management?

When an unforeseen situation interrupts your business’s performance, it endangers the company and the stakeholders. You need to respond promptly to find some useful ways to avoid the menaces and eliminate the crisis as soon as possible. And that’s what we call business crisis management.

Business Guides

Businessman Stop Domino Effect. Risk Management and Insurance Concept

It’s a method comparable to risk management; though, as Jodie Willmer, an expert in strategic planning, governance, and risk, defines the main difference between the two. In risk management, you need to identify, assess and mitigate any activity or event that could cause harm to the business.” In contrast, crisis management is related to “responding to, managing and recovering from an unforeseen event.”

How Do Organizations Manage Crisis?

According to some business analysts, there are three types of business crisis management:

  1. Responsive crisis management: providing a strong crisis management program, so when the crucial time comes, the business has all the essential means to manage it. It can normally be seen at companies with influential market culture and a reliable business plan.
  2. Proactive crisis management: this type of process occurs when a business is suspecting the crisis to occur; it provides a management crisis strategy and executes it accordingly.
  3. Recovery crisis management: this type adopts a scheme where a business discovers the root of the crisis that it’s suffering and takes appropriate actions to resolve it.

These, of course, are common strategies for crisis management. Though, in an unanticipated crisis of unfavorable situations, it may not be useful to use such tactics. That’s where you need to refocus your efforts on more beneficial techniques.

How to Organize Your Day at Work?

How to Organize Your Day at Work?

There are times and situations when we thought that we could’ve done more work or possibly faced some situations when some critical tasks were left unfinished by the end of the day. How about the feeling of misused time? It happens because of a lack of strategy for organizing our day. If any of those situations feel familiar, it’s important to do some organizing. In this article, we will tell you some simple tips on how to organize your day at work.

Organize Your Day at Work

Be on Time

Be on Time - Organize Your Day at Work

Reaching at your workplace on time isn’t just an everyday habit. It assists you to stay focused and confident and gives more time to get ready for the day’s work. Not to mention leaving a big impression about you on your coordinates and managers.

Make To-Do List

To-Do list

It is productive to make a better list of tasks that needed to be done before you start working properly. Start with the most crucial ones — those need to be done first. This will allow you to concentrate on them more and give sufficient time to complete them precisely. The simple and short ones should be left for later, as you won’t need much focus to finish them. Note that your list can be digital — it’s more comfortable and more natural to operate.

Check your mail

Checking emails

Checking your email before doing important work should be a rule, as it can distract you later. While checking your inbox center on the most relevant messages and respond only to the most critical ones. It’s straightforward to misplace yourself in checking your email continually, so keep it to a bare minimum — no more than 3-4 check per day. The same is the case with checking voice mails.

Reward Yourself

Reward yourself

Motivation and recognition are very essential for productive work. So it’s great to present yourself small rewards after finishing a tough task. Even something as minute as a tea break can work phenomenally after an obnoxious meeting with a client.

Take Breaks

Take short breaks - Organize Your Day at Work

Even on the most hectic day, you need a pause. Continuous work produces a lot of stress and isn’t as powerful as you might imagine. Your mind and body require some downtime every now and then. It’s best to spend your break outside your workplace, as it assists you to relax and tackle the difficulty later with new enthusiasm. Frequent breaks are great for maintaining your productivity high every day.

Avoid Multitasking

Avoid Multitasking

It takes a long time to regain your concentration on the task at hand if you take your focus away from it, it will take you much more time to regain it. So if you need to be productive, set your mind on one task at a time. As a non-focused mind is not useful for productivity and achieving a desirable goal. 

Be Realistic

Set realistic goals

Confidence is helpful but you should keep it in line at the workplace. Your goals must be realistic and you have to recognize that it can be tricky to accomplish everything you’ve planned for a particular day. The same task will be presumably left for the next day. Just try to organize the remaining tasks for the next day. This will assist you to be free of depression and anxiety.

How to Make Your Workplace a Happy Place?

How to Make Your Workplace a Happy Place?

Every firm believes in the fact that their employees are their most valuable assets. Without them, they would not be there where they are now. So it is important for the company to provide its employees with a happy environment within the office that makes their work more interesting because happiness has a direct influence on productivity. Here is how you can make your workplace a happy place.

Make Your Workplace a Happy Place

We are not essentially talking about weekly parties or annual trips. These are the simple modifications you can introduce in your office that will make your work more enjoyable.

Have a gaming area

Gaming area in the office

If you want your team to stay focused and refreshed, you should be supporting them to take frequent breaks. Of course, you need them to have their breaks away from their desks, so try to provide an enjoying and relaxing break out area where employees can go for some minutes to refresh their minds. You can have table tennis or snooker in the corner of your office or if you have a big office, you can also make space for badminton or other indoor games.

Decorate

Make Your Workplace a Happy Place

We spend a significant amount of our time at work so it’s necessary not to dislike our office. If you want your team to relish and satisfied being at work, make sure you give a workspace that’s beautiful and attractive but also favorable to productivity. Note that, your office is a reflection of your company. Furnishing it in accordance with your firm will support your team to stay in touch with it.

Promote socializing

Socialization in office

Socializing with coworkers can bring a wonderful impact on productivity and staying motivated on work because people with best friends in the workplace are more engaged than those who don’t have. Workplace associations can also assist you to promote an environment of sympathy and admiration which research has found can lead to higher levels of achievement and teamwork, as well as reducing the risk of anxiety and depression.

Celebrate and appreciate often

Celebration in office

Frequent celebration and appreciation provide support to your employees that they are making a significant contribution to the company’s progress. By building this sentimental relationship with your team you’ll see notable concrete results that can play a significant part in your company’s long term success.

Don’t be too formal

Business etiquette

Etiquette and professionalism is also a necessity within any organization. But there are robust levels of formality that can be implemented depending on the nature of the firm. Let your employees feel free to share their ideas and opinions. 

How to Become a Successful Manager?

How to Become a Successful Manager? Business Guides

Managing people is truly a proudest experience for every worker in his career however; it can be the most difficult and bitter one if not done right. Becoming a manager for the first time is truly a tough responsibility as you are not only accountable for yourself but also of your subordinates. So in this article, we will discuss how to become a successful manager that will ensure the success of your project.

Become a Successful Manager

It is natural for the new managers to make mistakes but the best ones are those who learn from it. As these are the critical parts of learning, so here are some easy tips to be a successful manager.

Become a Successful Manager

Don’t micromanage

As we previously discussed the effects of micromanagement on productivity, it is one of the common mistakes most of the managers make in their first few months. They try to check if the task accomplished by their team came out precisely the way they wanted. However, this should not be always the case.

Micromanagement

Some tasks can take a lot of time that managers usually believe that they should just complete them themselves. A task that would take them an hour to get done can take at least three hours for the other team members. So be patient and give your employees some time.

Appreciate teamwork

Though it is in the man’s nature to see the mistake in other people’s work and find no time to confer appreciation. But this is a significant aspect of a manager’s role and should be one of the first things in your new manager checklist.

Improve the spirit of teamwork

Having casual discussions with the employees under your administration is necessary in this regard to improve the spirit of teamwork. Talk with your team members to see if they are encountering any problems or if they are upset with particular tasks. As a manager, your role is to recognize how you can support them to enhance and empower their development.

Ditch emails and Use tracking software

Misusing email for all work-related conversation is a typical mistake for rising managers. When it comes to communicating at work, avoiding emails conjointly is one of the best ideas you can do.

Timelo - Time Tracking Software

Ditch excel sheets and use a time tracking software like Timelo that will give you a comprehensive summary of tasks and keep you updated on their progress. It will also enable your subordinates to track their performance according to the time that will ultimately help them to improve productivity.

Make your team independent

Making your team independent is one of the most useful approaches for any manager or entrepreneur. Don’t try to control your employees, unleash them. Just show them the right path and make them understand the ultimate goal. Leave the rest onto them.

Become a Successful Manager

Help them only when you see they really need it, let them tackle the problems. This will also improve their interest in work and self-confidence.

Stay positive

It’s more likely for a first-time manager to get discouraged. Yes, mistakes are unavoidable, and they are ever so obvious when you work with people on a day-to-day basis. But there is one thing we should all remember: we can do better. Try hard to always bring confidence in your life.

Successful Entrepreneur

The start of being a manager is usually the toughest, but it’s also one of the most consequential learning chances in any profession. Being a gentle and professional manager needs commitment and continuous improvements along the way.

Budgeting Time for a Remote Team

How Budgeting Time for a Remote Team can Help Your Business?

The most absolute purpose of every project manager is to get the maximum out of every minute of the working day. In this quest, time is an important factor. If you save time and manage it well, you are also saving budget, effort, and stress. It is a great thing to improve your productivity. In this article, we will discuss how budgeting time for a remote team can help your business.

Budgeting Time for a Remote Team

Time budgeting is a technique that encourages you to organize your working day in a more useful style. It suggests that you’re more prone to get through all the assignments you have proposed. Without setting aside chunks of time, it’s much more natural to get rattled by other people’s craft and plans and not focus on what you should be doing.

Budgeting Time for a Remote Team

Useful for the entire team

Time budgeting is also an exceptional method of developing clarity within your company and employees. By putting blocks into your calendar for all to see, your plan becomes clear and accessible. Employees can accomplish their responsibilities and manage time more efficiently; see fields where people are probably reproducing work, and better plan conferences and other projects.

Teamwork

Improve work-life balance

By setting all your programs in your calendar, you can view and recognize precisely how long you are spending on various tasks. Possibly you notice that something is taking up an excessive amount of your time, or that something is being missed. By getting this summary, it becomes much more comfortable to prioritize your tasks next time as you receive good working guides.

Improve work-life balance

If you also save some time for lunch and put it in your plan, you’re much less prone to work through it or end up eating at your desk.

Timeboxing

Timeboxing is a unique behavior of budgeting your time, which is related to blocking but comes at it from a slightly unconventional perspective. Rather than setting a 2-hour block to accomplish a task, you allocate a specific amount of time for that task which is bound and can’t be prolonged. What you produce and have at the end of the allocated time is the accomplished task, no matter what time it is in.

Timeboxing - Budgeting Time for a Remote Team

Timeboxing helps to limit the amount of time you spend on a task, decreasing time loss and in theory enabling you to work on more tasks. It can be simple to just spend an additional half an hour on something, but not make much difference to the outcome.