It can be difficult to find the balance in the paradox of maintaining focus and generating multiple income streams but the reality is that no matter what business you are in, you will always have multiple projects and competing priorities.
So how do you find the balance?
Here are some ideas that can help…
Make a schedule
Make a schedule listing your priorities and make sure that you are doing the things that are important, not the things that are urgent. Cultivate a discipline so that fewer and fewer things become urgent but rather that you deal with the important aspects of your business. And find time to focus away from all distractions at least in one part of your day. Strong time management skills are some of the greatest tools for business.
Break the Schedule If Need Be
Flexibility is important in business. The main thing to identify when faced with a schedule change is whether it is a time sensitive opportunity or instead, a distraction.
Make a Distinction Between Maintenance Work and Growth Work
There is no such thing as an income that is completely passive. All income needs maintenance work and this work needs to be done regularly. If you don’t do the work, there will be trouble. Growth work doesn’t have a deadline and you need to know how much time a growth project will takes so you can organise a time line accordingly.
Work on Only One Growth Project at a Time.
Don’t spread yourself too thin or you will become one of those people who never finish anything and great ideas never get to see the light of day. Focus on one project and realise it. Once the project starts earning money, you can look at another growth project.
For further strategies to find more time off without losing income, consult a business coach. If you live outside Melbourne, contact David Guest’s office and we’ll recommend a business coach in your area who has achieved outstanding results with their clients and is well-suited to your needs.