Many people want to be an entrepreneur. An entrepreneur is more than just holding a title, it requires an individual that is up for a challenging position. The number one goal of entrepreneurship is to be effective. In other words, getting the job done and obtaining results. The question is "how to you go from being an effective executive to becoming an effective entrepreneur?

An effective entrepreneur focuses on each of these key practices.

1. Time

It is very important to know where your time goes. You also need to have a plan handy for managing your time. This is necessary for an entrepreneur to be effective. You may decide to record your time daily by using a journal, recording it, or having someone keep track of the time. Also, feel free to use resources gained from your on the job experiences.

2. Identify and Eliminate Time Wasters

As an entrepreneur you should be allergic to wasting time. To quickly identify time wasters you can ask these questions:

What would happen if this were not done at all?

What tasks could be done by someone else just as well if not better?

Ask others: What do I do that wastes your time without contributing to your effectiveness?

You can also use this resource which we’ve found to be very handy.

3. Focus on results and making real contributions

The entrepreneur is held accountable for the performance of their business. Your job is to ensure that everyone on your team has what is needed to do the job effectively.

4. Make decisions on strengths not weaknesses

If your constant focus is to avoid weaknesses while building a team, then you will end up with a team of average employees. Rather than focusing on weaknesses of individuals, seek out those areas in which your team excels. It is better to seek excellence in one particular area, than to be satisfactory all around.

5. Do First things first

Be sure to concentrate on one task at a time. An effective entrepreneur does not over extend themselves, they commit to one task until it is complete. Once complete then he/she moves on to the next task of primary importance.

All of these tips and resources can help aid you in your transition to becoming an effective entrepreneur. Remember, the skills you gained from your on the job experience can be a valuable asset to you as an entrepreneur.

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