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The Need for More Time
The Wall Street Journal Online:
For sole proprietors, finding the time to build the firm is one of the biggest challenges.
More than a third of owners (35%) of one-person firms say that the toughest part is their inability to focus on generating more business, according to a survey by Score, a nonprofit group of entrepreneurial counselors, and Visa USA.
And 27% of the owners in the poll say that stretching themselves across multiple work roles and projects is what they find the most difficult in their nonemployee businesses.
Of the 1,000 owners polled, 52% say that with the help of an additional worker, finding new business would become a personal priority, while 32% say they would also spend more time evaluating and addressing the areas where their businesses needed the most improvement, and 26% say they would take up the activities they are most passionate about.
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Mindful Entrepreneur on August 31st, 2006 11:21 am
I think this need for extra help becomes especially important as the business grows and “low priority” tasks can be delegated to an employee instead of the owner.
That ability always frees up more time for focusing on the 20% of the 80/20 split.
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