Most entrepreneurs can attest that their lives are a true roller-coaster. Being an entrepreneur comes with a lot of requirements and necessities. From funding to hiring to marketing, every day comes with new and lots of responsibilities and may prove quite overwhelming. This kind of lifestyle is only sustainable with an effective time management system and organization to accomplish any set goals.
Any tool or technique that offers any help for an entrepreneur to efficiently manage schedules, organize, and even track all business processes is, therefore, a vital input. The journal, one tool that may be highly underrated by many entrepreneurs, will prove very effective for you and your business. With the upcoming technological advancements, journals can be kept digitally or traditionally (pen and paper), But why do I need a Journal? One may ask. Here is why;
For Flexible Planning
As a result of having many responsibilities and different tasks to be completed, a journal becomes very handy as keeping track of everything is sometimes very difficult. A journal is easily portable and will be adequate for scheduling and keeping track of business matters such as;
- Project strategies.
- Business Financials such as budgets, payments, expenses, and invoices.
- Business social media accounts.
- Significant life events for clients and customers such as birthdays and anniversaries. This is handy for example when one needs to create discounts or business offers.
- Task completions.
- Key contacts.
- Calls, meetings, and appointments.
- Making business follow ups for business contacts, meetings, and updates.
- Marketing initiatives planning and management.
- Time periods for short- and long-term business goals.
- Entrepreneurial resources such as podcast listening and TED talks.
It is a Growth Tracker
A journal will serve as a physical representation of your business’s progress. If you’re trying to sell to more customers, then you can can use it as a point of reference at any time. Keeping a journal as an entrepreneur will act as a reality check for your business growth. In it, records of your smallest and most significant achievements are written. It contains goals that you wish to achieve within specific periods. As you go through the pages, you can verify any stalls that you have made during your business journey and rectify them on time. With the noted trials and errors, you can see the different tactics, methodologies, and techniques you used during other times, and as a result, you can appreciate the growth you have gained over time since your startup. The journal will have all achieved and lost clients, and it technically offers a view of your business journey.
The Journal as a Tool for Weighing Your Options.
Many are the times you will be faced with business challenges that require clarity as an entrepreneur. One of the most straightforward solutions to challenging options is coming up with a list of pros and cons. With a journal, you can note down the pros and cons to weigh your options. You will be amazed at how easier and faster the answers and outcomes become clearer, saving a considerable amount of time.
The Journal as your Idea Book.
Ideas will come to you at inopportune times and different places. Any life activity from conversations to simply walking can give you a business idea as an entrepreneur. Sometimes you may not have the right resources, and a great idea may get out of your head. Having a journal at hand, you can note down any idea that comes to mind. One or some ideas may prove to be your most outstanding business winners.
It is your Daily Business Log
Being an entrepreneur means many unpredictable moments, connections, places, and sources of your inspiration. You can record what you got done or achieved in a day, what you dealt with, what you struggled with, what lessons you learned, and what accomplishments you want for the next day. Using a journal to keep a detailed record of your day to day activities or moments may prove exceptionally resourceful and valuable at a different time, for example, when you need to go back and check for a location you may currently need maybe for an advertisement campaign or even when you need to reconnect with a contact you have.
It is a fact that we remember more of what we write down. You will engage more with your ideas when you write them down. No entrepreneur would want to be in the dark regarding their business. When you keep a journal as an entrepreneur, you can quickly be reminded of any meetings, appointments, and business events.
An Effective Tool for Processing Situations
Sometimes being an entrepreneur, you may feel overwhelmed by all the work and all your expectations. These situations can easily cripple you from the much thought you may accord them. From past experiences to future expectations, you may under or over react to problems in an unhealthy manner. Having a journal helps give one perspective for different situations. It enables the brain to properly process in a way that builds up a healthy point of view. Ultimately, this fosters reduced stress, allowing you to function even better and get more tasks done and completed.
Proper Delegation and Time Management
As an entrepreneur, having a lot to do, you may find yourself stuck not knowing where to start or what to do at what specific time. A journal will mitigate such prevailing issues to an extent. For example, actions to be taken can be assigned particular days and designated timings accorded for each of them, hours worked for different clients can be noted, and you can account for the time dedicated for specific projects.
A Reflective Tool
Any keen entrepreneur must keep an intentional thought process to evaluate experiences and observations with consideration of optional outcomes, interpretations, and meanings. This will enable them to make better-informed decisions for the future and perform better. Having a journal will attain reflection. Come up with leading questions that will highlight what to avoid, what brings more excitement, and what generates certain feelings.
Journaling is a necessary action for every entrepreneur. Whether digitally or traditionally done, putting words or actions to your thoughts opens up creativity, gives insights, and achieves more clarity. Besides being a tool an entrepreneur can carry almost anywhere, it will help organize their thoughts and ideas, help in delegation and time management, help in generating new business ideas, and aid in monitoring personal growth and that of the business. Journaling is a suitable solution and a good balance for creativity and pragmatism. It will make you a successful and a happier entrepreneur and pay up both in your personal and professional life.
Author bio: Rose Gana is the project manager for Dealflowbrokerage. Dealflow is a global internet M&A advisory platform backed by a powerful network of investors and entrepreneurs looking to buy & sell online businesses from $100,000 - $20,000,000 in value.