When you’re a new entrepreneur, what’s one task that should always be on your daily to-do list, and why?
These answers are provided by Young Entrepreneur Council (YEC), an invite-only organization comprised of the world’s most successful young entrepreneurs. YEC members represent nearly every industry, generate billions of dollars in revenue each year, and have created tens of thousands of jobs. Learn more at yec.co.
1. Finding ‘You’ Time
It is important for a new entrepreneur to look after themselves. If you are not looking after yourself, it will be impossible to be at your best and grow your business.
2. Reading Books by Other Entrepreneurs
Reading books will give you knowledge, skills and advice rapidly. You will be able to learn from the best with even a few pages a day. Grab a book from an entrepreneur in your industry or about a topic you need help with. Those authors have spent their whole lives in the same process you are currently going through. They’ve left behind pages of what worked, what didn’t and what they learned.
3. Getting to ‘Inbox Zero’
On a daily basis, entrepreneurs should strive to get their email inboxes to zero. Take a few moments to consciously review all correspondence at least once per day and then respond, delegate, defer or delete! This simple routine will help ensure critical tasks and deadlines don’t slip through the cracks.
4. Scheduling Daily Tasks
If you’re going to survive as an entrepreneur, you’ll need to learn how to budget your time. Scheduling daily tasks in advance to cut down on waste and remain lean will help you maximize your efficiency and promote a healthy work-life balance.
5. Building Meaningful Connections
Building meaningful connections and making the most out of each communication should be one of the cardinal parts of the daily to-do list for new entrepreneurs. New introductions should be treated as opportunities to build a legit network for influence building and word-of-mouth marketing. Budding entrepreneurs should make a habit of this and meet any person who can be the next step toward growth.
6. Reading Reviews
As a new entrepreneur, it is important to listen to what your community and customers have to say. Read reviews, check social media, check your inbox and look anywhere people discuss your products every day. Listening to feedback and acting on it quickly are key. Also, by staying active in relevant communities, you have the opportunity to solve user pain points that larger companies are not solving.
7. Meeting With Your Team
You should have a quick standup meeting with your team to see if everything is on track and if anyone needs help with their tasks. In my experience, when your employees know that you keep a regular check on things and are always available for valuable feedback, team productivity goes up. A good productive environment can really help your business grow.
8. Checking In With Your Business Vision
Check in with your original vision to make sure you haven’t gotten lost. Remember: There’s a big difference between necessary, conscious pivots and falling down rabbit holes. These quiet moments to check your work against your original mission will keep you grounded, show you how far you’ve come and let you course correct if you’ve become consumed by distractions.
9. Reviewing Daily Sales
Review daily sales to ensure you hit your break-even point. As entrepreneurs, we love seeing revenue coming in. Make sure you have the daily report that not only tells you what sold today, but also lets you know quickly that you are on track for cash flow and goals. Pivoting quickly is crucial for lasting long term as a business.
10. Posting to Social Media
The one task every new entrepreneur should do is post to social media daily. Truthfully, it should be two to three times a day. Post to industry or group accounts too, besides your own. Everyone depends on social media now, and posting that you’re open, posting about your sales or posting to feature a product gets eyes on your business.
11. Learning a New Skill
Learning a new skill should be on your daily to-do list. You won’t be able to mark it “done” on a regular basis because it takes time to acquire new skills, but you should consistently strive toward it. Learning helps you be better than you were yesterday and fuels your growth. It boosts your efficiency and increases your chances of success.
12. Exploring New Ideas
Being a new entrepreneur, you should always explore new growth opportunities concerning your niche. Spend at least an hour each day exploring new ideas and shortlisting the ones that show potential by the end of the week. Work on the feasibility of shortlisted ideas and create an execution plan accordingly.
13. Listening to Industry Podcasts or News
It can be very tempting to get tunnel vision all day every day, but you miss key insights and conversations that are happening in your industry. This is one of the best parts of my daily commute. I get really excited hearing about the new ways my peers are solving problems or innovating.
14. Monitoring Analytics and KPIs
I believe all new entrepreneurs should spend an hour each day monitoring their analytics and key performance indicators. You have to be hypervigilant during this phase if you want to see your online store thrive. Look for abnormalities and ways you can improve. You’ll also want to keep an eye out for strategies that are working for your small business.
15. Reminding Yourself of Your Higher Goal
One powerful daily to-do is reminding yourself of your higher goal, whether it’s to serve a specific number of customers, make a difference in your community or something else. This will help keep you motivated and focused on what’s important, even when the going gets tough. Additionally, remembering your higher goal will help you stay laser-focused on the tasks that will help you achieve it.