How to Start Any Business with 10 Hours a Week - Student Guide (Part 2)

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13 Jul 2023

10 Min Read

Constantin Stock (Guest Contributor), Nellie Chan (Editor), Constantin Stock (Guest Contributor), Nellie Chan (Editor), Constantin Stock (Guest Contributor), Nellie Chan (Editor)
IN THIS ARTICLE

Continue your entrepreneurial journey despite limited time. Pursue practical steps to make the most of your 10 hours a week for business success!

Many entrepreneurs get caught up in the planning and strategising phases of starting a business. However, it is essential to remember that no amount of planning or strategising will ever be enough. The only way to start any business is to put your plan into action! Overthinking can lead to paralysis by analysis, so avoid it by focusing on taking consistent action instead. This means setting aside time each week to work on your business, even if it is just for 10 hours.

Execution

Execution is the process of turning your strategy into action. It involves implementing your plan, taking calculated risks, and learning from your mistakes. Execution requires discipline, focus, and resilience. So, it is vital to stay organised, prioritise your tasks, and track your progress to stay on track!

  • Set clear goals: What do you want to achieve with your business? Once you have defined your goals, you can develop a strategy to attain them. For example, if you want to start a blog, your goal might be to gain 1000 subscribers in the first year.

  • Break down your goals into smaller objectives: This will make them seem less intimidating and more attainable. For example, to gain 1000 subscribers in the first year, you might break that down into smaller objectives like getting 100 subscribers in the first month, 200 subscribers in the second month, and so on.

  • Prioritise your tasks: Recognise that not all tasks are created equal; some are more important than others. Prioritise your tasks so that you work on the most important ones first. For example, if you are trying to get 100 subscribers in the first month, you might prioritise tasks like writing blog posts, promoting your blog on social media, and networking with other bloggers.
User writing notes on a notebook
  • Set deadlines for yourself: This will help you stay on track and avoid procrastination. Just as you would for your assignments or projects, setting deadlines for your business tasks is essential. For example, you might set a deadline to write one blog post per week or promote your blog on social media three times per week.

  • Track your progress: This will help you assess your business performance and make adjustments as needed. For example, you might maintain a spreadsheet of your blog subscribers or track the number of your website visitors each month.

  • Be flexible: Recognise that things do not always go according to plan. So, be open-minded and open to adjusting your plans if something does not work out.

  • Celebrate your successes: It is important to celebrate your successes, no matter how small they may seem. This will help you keep motivated and moving onward. For example, if you reach 100 subscribers in the first month, celebrate your success by taking a day off or treating yourself to your favourite movie.
Two students holding fist in the office

Consistency

The third key to building a sustainable business is consistency. It means showing up every day, doing the right things, and doing them well. Consistency requires dedication, commitment, and perseverance. It involves measuring your progress, making adjustments as needed, and maintaining a patient attitude. 

 

  • Measure your progress: You can measure your progress by tracking sales, website traffic, social media engagement, and other key metrics. This will help you see how your business is performing. For example, if you are not achieving the desired results from your marketing campaigns, you can adjust your marketing tactics or budget.

  • Make adjustments as needed: As your business grows and develops, you may need to adapt your goals or strategy. For example, if you start to attract more customers, you might need to hire additional staff or expand your office space. Be prepared to make adjustments as needed to keep your business running smoothly. 

  • Be patient: Building a sustainable business takes time and effort. Do not expect to see results overnight — be patient! For example, if you are trying to build a large following on social media, it may take several months or even years to reach your goal. So, do not be discouraged and continue posting high-quality content your audience will love.
an arrow hitting the bulleye

Conclusion

So there you have it!

 

Starting a business as a student can be daunting, but it is possible even with limited time (and resources). To recap, here are the three key elements that will set you on the path to success: strategy, execution, and consistency.

Strategy is the foundation of your business. Take the time to research, plan, and define your business goals. Who are your ideal customers? What makes your product or service unique? Figure out your target market and how you are going to reach them. Your strategy will be your guiding light as you navigate the entrepreneurial world.

 

Execution is where the rubber meets the road. Once you have a solid strategy in place, it is time to start taking action. Stay organised, set clear goals, and break them down into smaller objectives. Prioritise your to-do list and keep track of your progress. And remember, things do not always go according to plan. Be flexible, learn from your mistakes, and celebrate your wins along the way.

 

Consistency is the recipe for success in any business. Show up day in and day out, putting in consistent work. Measure your progress, make adjustments as needed, and remember that Rome wasn't built in a day! Be patient and trust that your efforts will pay off in the long run.

 

So, what are you waiting for? Take that leap of faith and start your own business today! Believe in yourself, embrace the power of strategy, execute your plans with passion, and stay consistent in your efforts. You've got this!

Have a business idea you want to grow? Incubate it at our BizPod and cultivate your 10 hours a week into a successful startup journey at Taylor's University!

 

Constantin Stock is currently pursuing a Bachelor of Business (Honours) in International Business and Marketing at Taylor's University. He is adept in marketing and copywriting and passionate about startups. Providing comprehensive consulting services, he aims to empower businesses for sustainable success in the complex market landscape through strategic guidance, tailored solutions, and effective communication!
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