Advice for young entrepreneurs

You’re just getting started in entrepreneurship.Everyone and their dog is going to give you advice on what you should do.And, to be honest a lot of it sounds correct.Everyone is going to agree that productivity is key for growing your business, but each will point to a different set of beliefs to what that actually means.Let’s look at some examples:Perspective 1: The Workaholic

"I believe that productivity is all about putting in the hours. If you want to be successful as an entrepreneur, you have to be willing to sacrifice your free time and work around the clock. I'm always checking and responding to emails, and I make sure to get as much done in a day as possible. I believe that this kind of dedication is what sets successful entrepreneurs apart from the rest."

Perspective 2: The Prioritizer

"To me, productivity isn't just about how many hours you work, it's about making the most of the time that you do have. I try to focus on the most important tasks first and delegate or outsource the rest. I also make sure to take breaks and prioritize self-care, because I know that a burnt-out and exhausted entrepreneur is not going to be very productive."

Perspective 3: The Time-Management Guru

"Productivity is all about maximizing your efficiency. I use a variety of tools and techniques to help me stay organized and on top of my workload. I keep a to-do list, set deadlines for myself, and use time-blocking to make sure that I'm using my time effectively. I also try to eliminate distractions as much as possible, so that I can stay focused on the task at hand."

Perspective 4: The Work-Life Balancer

"As an entrepreneur, it's easy to get caught up in the hustle and forget about everything else. But I believe that it's important to find a balance between work and the rest of your life. I make sure to set aside time for my family and friends, and I prioritize my own well-being. I find that when I take care of myself, I'm more productive and able to give my best effort to my business."After reading these you may have identified with one or another. Hell you may have found all of these arguments appealing.

While all of these perspectives have their own merit, it's important to remember that there is no one-size-fits-all approach to productivity.

What works for one person may not work for another, and it's important to find a balance that works for you.

The workaholic approach may lead to burnout and ultimately reduced productivity, while the prioritizer may miss out on important tasks if they aren't prioritized correctly.

The time-management guru may be too rigid and not allow for flexibility, and the work-life balancer may not be able to fully commit to their business.

It's important to consider all of these biases and find a way to incorporate elements from each perspective in a way that works for you and your business.This leads me to my own biased opinion of the number one skill you want to develop as an entrepreneur:Problem solving.

Creating a system to how you approach problems will lead to a higher success rate.

• Identifying problems:

  • Recognizing warning signs of potential problems

  • Seeking out diverse perspectives to identify problems

  • Asking the right questions to uncover underlying issues

• Analyzing problems:

  • Breaking down problems into smaller parts

  • Understanding root causes of problems

  • Examining the potential consequences of problems

• Generating solutions:

  • Brainstorming ideas with a team or on your own

  • Researching best practices or solutions used in similar situations

  • Considering the resources and constraints available

• Evaluating solutions:

  • Assessing the potential effectiveness of each solution

  • Weighing the pros and cons of each solution

  • Choosing the best solution based on your goals and resources.

This is thinking in First Principles.First principles thinking is a powerful tool that can help you achieve success in business.

It involves breaking down complex problems or challenges into their fundamental building blocks and then reasoning up from there to find solutions.

It allows you to approach problems with a clear and logical mindset, rather than relying on assumptions or preconceived notions.Too often when you’re just getting started it’s these assumptions that lead to some of the hardest lessons.

Now go out and get after it.-Mark