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How to survive starting a business

02 August 2016 by National Bank
Survivre au démarrage de son entreprise

Starting a business is both mentally and physically challenging. Here are some good habits to adopt when you’re working nonstop on an important project.

Hugo Francoeur is a serial entrepreneur, with more than a dozen active business projects ranging from retail to finance. He is also the Director of team training for the SAJE, and is responsible for training and coaching entrepreneurs who are just starting out. He explains how starting a business takes a lot out of entrepreneurs because of people’s tendency to say “yes” to everything: "Launching a business requires uncovering business opportunities and we’re called on to do the dirty work!" If that’s your case, here are some strategies he suggests putting in place to stay on track without forgetting about your health.

1) Learn to detach yourself from your company

When launching a business project, it’s essential not to take things too personally. A good way to distinguish yourself from your company could be to introduce yourself as "working for [company name]" or "responsible for business development of [company name]."

2) If it’s not working, move on!

There’s no use in obsessing over a problem. Without necessarily giving up, it’s good to learn to set something aside and pick it up again it later. Thought is a complex process, and changing your routine helps you to exercise other parts of the brain. The answer may well come to you during your morning walk!

3) Keep track of your results

By keeping a record of your actions taken, what works, and what doesn’t, you’ll be able to easily recognize your successes and avoid wasting your energy.

4) Managing your time

Categorizing your tasks is an important part of effectively managing your busy schedule. If something is urgent and important then it needs to be prioritized. If something is neither urgent nor important … then it needs to be forgotten! Consider scheduling time for strategic thinking and personal activities, or else this time may get lost. Taking care of yourself and your health is an essential component to being an effective entrepreneur.

5) Self-regulate

It’s important to implement measures in order to motivate yourself. Francoeur suggests to "be formal at home, which helps you to take yourself more seriously." What does this mean? Imagine having to call a potential client while dressed in pajamas. What state of mind would you be in? If you know that you lack motivation, force yourself to break the isolation and call a friend to join you.

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