Do Entrepreurs Really Need to Work an 80 Hour Week?
June 27, 2007
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Most books on becoming an entrepreneur will tell you that you have to work 60 to 80 hours a week to become a success in business.  If I had been writing this post over a year ago, I would have agreed entirely. But how many of those entrepreneurs wasted much of their working week on tasks that they could easily have outsourced, delegated, or automated? Also, can you become truly successful if you spend most of your waking hours working? Sure, it might turn you into a financial success, but what about the other areas of your life?
In the past, I wasted so much time. I would spend a huge chunk of my waking hours carrying out mundane chores, because I thought I didn’t have the time to train someone else to do them. I took on complicated projects that I should have outsourced to people with more experience, and instead of updating the office technology I lost a ton of time due to malfunctioning equipment.
If you’re just starting out in business, you may think that outsourcing, delegating and automating doesn’t apply to you, as you couldn’t possibly afford to outsource or delegate anyway. While this may be true initially, you need to start thinking about freeing up your time as early in your business as you possibly can.
You may already have heard of the Pareto 80/20 principle, which states that 20% of your efforts will bring in 80% of your results. This is certainly true in business. Even if you don’t have the funds to outsource work initially, wouldn’t it be great if you could identify which 20% of the work that you do in your business, brings you 80% of the results, so that you could concentrate your efforts on the important stuff?
The best book I have ever read, which shows you how to manage your time effectively and concentrate on the most important 20% of your activities is Eat That Frog by Brian Tracy. Even if you’re bootstrapping, you can’t afford not to read it, and it’s a short book, so you won’t waste valuable time reading it.
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