How do you balance your business with everything else?

Hello David D.

I am glad to inspire you to think deeper about this subject.

The short answer to this is: TIME MANAGEMENT.

Owning and running a business is very rewarding in the sense that freedom, comes with the right to make your own decisions of what will work for the business.

On the deeper end, it goes much further and deeper that just that. What kinds of decisions will you be making: a) on the long run and b) on a daily basis? What kind of business will you be running?

Having a business is about adding value to society, by solving a problem for everyone, by improving a process, by bettering a product and by serving others, through your business. For this you are rewarded with riches beyond your imagination and the satisfaction of independence and bringing about the best in others, through your products and/or services that are offered to the market.

How to balance that with everything else? Well, David, that is the long answer. I will try to shed light on each and everyone of them one by one. a) Business b) Entrepreneur, 3) Finance, 4) Business management.

First of all, I will answer the primary question posed above. We all have exactly 168 hours a week x 52 weeks = 8,736 hours exactly. No one has more, and no one has less. So how do people get different piles of stuff done, and some seem to do much more than others. In simple words it has to do with your habits. Time, is your to harness, or to waste, at your own will and power. To find out what is the most important tasks to be accomplished in life, talking to friends everyday, watching T.V. for hours on end or listening to music, or working and studying for a difficult exam for 3 hours everyday.

the 168 hours a week, well. let's take an inventory. you need to sleep, no way around that, so deduct 56 or 63, if you want to include going to bed and getting up. There you go, now you have only 105 left. That is still plenty of time, deduct 48 hours for work or study every week, you still have 57, to eat and drink, date, go out, watch a film, visit with friends, keep in touch with family, go to the gym. 57 hours is 3,420 minutes. Just like with the money of the business or your personal money, you still have to create a budget on how to allocate it on the most important things, AND, how to make the most of time and of money. For this you generate a list of priorities. here it goes, in the most important areas of life:

*) Economic | Academic | Social | Health & Fitness | Spiritual | and profession / business or work.

in order to NOT waste time and make the most of it you need to list what is most important in life, and here balance is key. Not to get distracted by things that are not so important, not to neglect any area of life, and not to allot all of your time to work only and leaving perhaps 3 or 4 hours for leisure activities. This is the famous WORK - LIFE balance that everyone is talking about. 57 hours is enough for everyone. that is 7 x 15 hours to get everything done, 8 or 9 is for work and 6 hours for leisure, health, academics and a rich social life, if you know how to use them wisely. not 10 hours on You Tube, TV or music, but a reasonable time to enjoy, every bit of life in slices that are in more or less equal size.

here's a link that you may find useful: https://corporatefinanceinstitute.com/resources/careers/soft-skills/time-management-list-tips/

Like in Business, the idea is to multiply your resources, thus getting more out of these resources than what was invested. This is true for TIME and MONEY. You invest it, and get a return that is greater than the capital of Time or of Liquid assets that you put in. Since you are a senior in high school, I will emphasise on the importance to capitalize on your TIME in school. You are investing your time and wish to get a return that will give you knowledge of and in business, finance, management. This in turn and in time will give you a return on your investment in amounts of money and independence.

Entrepreneurship, is more of an attitude, not a skill. A frame of mind, a drive, an ambition to pursue your goal relentlessly and despite anything in your way. You just know it, when you have this fire within and if you don't, it's doesn't matter, you can develop it by creating a plan with passion.

What do you need to do is this:

Keep focus on your goal. | Keep the motivation alive of why you want this. | Have discipline to get it done in 3 or 4 years, | Eliminate distractions | Create a list of priorities | WRITE IT ALL DOWN and keep it visible everyday | Divide it all in equal proportions | Spend your TIME on the most important GOALS first. | Do the work necessary, and have fun in life all in one. One week at the time, and you will get there. remember we all have the same 105 hours, so how come some people are able to run a 15,000 employee corporation, while others are only able to dedicate their attention to the internet?

It's been fun and rewarding for me to help you, David D. , so please if you have any more questions, please let me know. Remember we are all here to help you.

And also leave a comment in the box below, of how you rate this answer. Did it help?

Here are some steps that you can do or research to find out more on how to get things done and live a rich and happy life and Play the game of BUSINESS in a successful way. See the links here:

https://www.youtube.com/watch?v=dtnvMpmO4Tc

https://livepurposefullynow.com/5-fundamentals-living-successful-rewarding-life/

ted talks on work life balance: https://www.youtube.com/watch?v=OOeFVW7g4ao

https://www.youtube.com/watch?v=iDbdXTMnOmE