10 ways to start a business when you don’t have enough time – I Will Teach You To Be Rich (2023)

There’s a Catch-22 you’ll face while beginning your entrepreneurial journey: You’re partly starting a business for greater control over your time and energy. But until you get it up and running, you’ll have to … surrender control of your time and energy.

As a founder, you must complete the high-wire act of working on your business in the gaps of your normal working life, doing research and product development on lunch breaks, between soccer practice, and whenever else you can grab the time.

So how can you keep your business growing while not collapsing from being so exhausted all the time?

There’s no easy solution. And yet, we see thousands of people start businesses every year. So how do they do it? We asked you guys, our readers, and gathered 10 of the best pieces of advice.

***

Note: Some comments lightly edited for grammar, spelling, and length.

(Video) “If he doesn’t stop supporting our 31 y/o son, we won’t be able to retire” | IWT 102 | Ramit Sethi

1. Wake up early

This was by far the most popular suggestion. If you “treat yourself” at the end of each day by staying up late and relaxing, a suggestion: treat yourself to some sleep instead — and then wake up earlier.

From readerStephen Fiser:

For me at least part of the equation has always been getting up super early. When I had a corporate job I was getting up and working on side projects at 5 a.m.

To make that easier, I’ve always had to make a short list of exactly what to do when I wake up. If I don’t do that, I go straight back to bed.

10 ways to start a business when you don’t have enough time – I Will Teach You To Be Rich (1)

2. Eliminate time wasters systematically

Feeling overwhelmed is usually traced back to an inability to ask for help or say “no.” So get real about what you spend your time on, and eliminate the stuff that doesn’t give you energy.

From Sin Declerc:

I made a list of all things that demanded energy. Going from doing the dishes to listening to nagging people to being stressed out by all those magazines I should read but never seem to find the time to do so.

In phase 2, I drew a line next to this list, and I wrote down the best strategy I could think of to eliminate these energy killers.

In phase 3, I did one to three things of that list for about two weeks.

It created emotional breathing space. It won’t help for finding time, but it will help on getting the mental space.

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3. Focus on one thing each day

When you start a business you’ll be tempted by marketing plans, research, books to read, logos to make … stop. No matter where you are in your business, there’s one task that will lead to growth. And oftentimes, you know what that one thing is.

From Norman Horn:

I focus on ONE THING I can do that pushes my consulting business forward every day. Then one of two things happens: either I complete the thing and I’m satisfied, or I let it steamroll into additional actions and build momentum. But it has to start with one clear goal for the evening, or else nothing will get done.

10 ways to start a business when you don’t have enough time – I Will Teach You To Be Rich (2)

4. Only move 1-3 tasks forward a day. That’s it

A sprawling daily to-do list means you’ll never make progress. Pare it down, one day at a time.

From Hannah E. Christian:

I, too, get up super early because I have 3 small kids, but I’ve learned that the key is 1-3 TASKS get done per day.

Tasks are not ideas. Ideas multiply like rabbits and steer you off course at times. Tasks are concrete things like “write 1500 words on a topic.”

So…
I get up early. Drink my coffee and read.
Exercise.
Do my three tasks.

Rinse.

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5. Surrender your week, embrace weekends

A lot of time management will focus on optimizing these tiny windows of time between tasks. But that’s not where deep work occurs. So try letting your week sail by as normal but get serious on the weekends.

From Alex Johnson:

For me, it was finally realizing that it didn’t matter what hack or system or tactic I tried using — I just didn’t feel like waking up super early during the week before work or staying up super late on a work night.

Wound up deciding that I’d just carve out five hours on my calendar on Saturday mornings and three hours on Sunday mornings (and aggressively protect that time on my calendar), and just not feel guilty about trying to force it into the work week. Took a bit to adjust to not feeling guilty during the week, but ultimately worked SO much better for me.

6. Put it on your calendar and protect it

If you don’t block out time for important things, you’ll let other less important tasks fill your day.

From Wayne Werner:

What I’m in the process of discovering is that time unscheduled is time wasted. Because if I don’t require myself to write for <X> minutes a week, then I won’t write.

7. Make it public

It’s hard to skip a task when you know some public shame is coming your way.

From Anish Raju:

The one that has worked well for me, for big goals, is setting a date deadline and making it public to family, friends, clients, coaches, etc. So I have gotten to multiple milestones by announcing a date that tricks me into having to work hard and meet that damn deadline. And, most importantly, I find I can only work at one big goal at a time, to be effective. I have a full-time job and two kids.

(Video) 77. “We have $6.3 million. Why can’t we take a vacation?”

10 ways to start a business when you don’t have enough time – I Will Teach You To Be Rich (3)

8. Take what you can get

Recognize you’ll never have the perfect schedule or system. What’s important is any progress on the things that matter.

From Shirley Tse:

I block work time on my calendar even if it’s during my lunch hour or in the evenings when my kids are running around. It’s not every day and it’s not for hours. I remind myself it’s better to do 30 minutes than to wait until I have large blocks of time because I end up doing nothing at all.

9. Conduct a weekly review

It can be bracing to look back at your week and realize you didn’t move the needle. That’s why a weekly review can help you quickly get back on track.

From Ryan Hildebrandt:

Here’s how I get big projects done (like launching an online business) and also keep myself open to serendipity.

Been doing it weekly since 2009

http://www.ryanhildebrandt.com/weekly-review/

10. Realize that there is no silver bullet

There’s not going to be any one “hack” that makes you less tired. It’s a combination of things. That’s why I loved this comment from Theontae Bonner:

10 ways to start a business when you don’t have enough time – I Will Teach You To Be Rich (4)

***

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If you have your own advice to add, leave a comment. We’ll continue to collect and share the best.

FAQs

10 ways to start a business when you don’t have enough time – I Will Teach You To Be Rich? ›

No matter how bold or ambitious your plans are to grow your business, the key to your business's success lies in three critical, interdependent components: operational excellence, customer relations/communications and financial management.

What are the 4 most important steps to take when starting a business? ›

  1. Conduct market research. Market research will tell you if there's an opportunity to turn your idea into a successful business. ...
  2. Write your business plan. ...
  3. Fund your business. ...
  4. Pick your business location. ...
  5. Choose a business structure. ...
  6. Choose your business name. ...
  7. Register your business. ...
  8. Get federal and state tax IDs.

What are at least 5 things it takes to start your own business? ›

The five things every first-time business owner needs to know before getting started
  • Do you have a formal business plan? If not, you need one. ...
  • Don't assume being frugal is the right way to spend. ...
  • Identify the right partners. ...
  • Get to know your customer before you start. ...
  • Don't skimp on marketing.
Feb 28, 2020

How can I make my business successful from nothing? ›

Once you have figured out what you want to do, here are some important things to keep in mind while starting your business from zero:
  1. Research your market. ...
  2. Set a tangible financial goal. ...
  3. When you create a website, make the content shareable. ...
  4. Build a list. ...
  5. Launch a product or service you can sell.
Mar 17, 2015

How do people start businesses with no money? ›

Options to fund your new business venture include:
  • Crowdfunding. This approach to raising money takes small amounts of cash from a large number of people. ...
  • Friends and family loans. Do you have a personal support network that can back your new business idea? ...
  • Small business loans. ...
  • Capital investors. ...
  • Small business grants.
Nov 25, 2022

What are the 3 most important things in starting a business? ›

No matter how bold or ambitious your plans are to grow your business, the key to your business's success lies in three critical, interdependent components: operational excellence, customer relations/communications and financial management.

What are 5 key things to running a successful business? ›

With that in mind, here are five tips for running a successful business.
  • Start with the why. Every successful business has a reason for being in business. ...
  • Set appropriate goals. Your goals are essentially your definition of business success. ...
  • Create a written plan. ...
  • Keep reassessing your plan. ...
  • Delegate as much as you can.

What is the easiest business to have? ›

Business ideas that are easy to start quickly
  1. Yard work. People with 9-to-5 jobs don't always want to spend their weekends doing yard work. ...
  2. Software training. ...
  3. Homemade soap making. ...
  4. Errand service. ...
  5. Social media management. ...
  6. Freelance services. ...
  7. Selling on eBay. ...
  8. Pet sitting.

What is the simplest form of business to start? ›

A sole proprietorship is the easiest and simplest form of business ownership. It is owned by one person. There is no distinction between the person and the business. The owner shares in the business's profits and losses.

Which type of business is the simplest to start? ›

A sole proprietorship is easy to establish. You don't need to take any legal steps to form this type of business. If you are the only owner and begin conducting business, you automatically become a sole proprietorship.

What do most business fail for lack of? ›

The most common reasons small businesses fail include a lack of capital or funding, retaining an inadequate management team, a faulty infrastructure or business model, and unsuccessful marketing initiatives.

How do I start a business when I am broke? ›

How to start a business with no money
  1. Vet your business idea. ...
  2. Tap into free resources. ...
  3. Network with communities of support. ...
  4. Live on personal savings. ...
  5. Look for alternate funding options.
May 11, 2023

How to start a business with only $100? ›

15 Easy Businesses to Start with Less Than $100
  1. Consultant. A consultancy business is easy to start and has a lot of potential for growth. ...
  2. Social Media Manager. ...
  3. Painting Contractor. ...
  4. Tour Guide. ...
  5. Cleaning Service. ...
  6. Blogger. ...
  7. Freelancer. ...
  8. WordPress Developer.

What business can you open with little money? ›

20 Businesses To Start for Under $1,000
  • Bookkeeping Service. Technically, you only need a high school diploma to work as a bookkeeper, so this small business idea is accessible to anyone. ...
  • Tutoring Business. ...
  • Consulting Business. ...
  • Delivery Service. ...
  • Online Store. ...
  • Pool Cleaning Service. ...
  • Graphic Design Services. ...
  • Pet Sitting Business.
Jan 13, 2023

What are the seven 7 factor to consider in starting business? ›

7 important factors to consider before starting a business
  • A great idea. “No business can develop in the absence of a great idea. ...
  • Funding and budget. ...
  • What is your business plan? ...
  • Legal documentation. ...
  • Passion. ...
  • Find the right equipment. ...
  • Know when you need help.
Nov 9, 2022

What is the number one key to a successful business? ›

Consistency is key to success in business. If you are selling products or offering services, make sure that you consistently offer high-quality products and services. This way, your customers will trust you. Once you have established trust with your customers, they are less likely to move to your competitors.

What are the 6 factors to consider when starting a small business? ›

6 things to consider before starting a business
  • Turn your idea into a plan. Every entrepreneurial journey starts with an idea. ...
  • Self-discipline. ...
  • Be flexible. ...
  • Follow your passion. ...
  • Listen to the pros. ...
  • Find a nurturing environment for entrepreneurs.
Sep 22, 2017

What keeps a business successful? ›

The success of your business often depends on how well you connect with customers and meet their expectations. Positive customer experiences will boost your sales and raise your profile in the marketplace as a trustworthy, high-quality business worth buying from.

What are 4 characteristics of a successful business? ›

Here's what they shared.
  • Willingness to take chances. Business owners who are willing to take chances tend to achieve more than those who play it safe. ...
  • Unique value. ...
  • Tenacity. ...
  • Customer-centric approach. ...
  • Good marketing. ...
  • Strong vision. ...
  • Passionate leaders. ...
  • Empowered employees.
Feb 2, 2021

What does every successful business need? ›

Customer service and customer experience are major focuses of the most successful businesses. The first step is creating products and services that customers want. But focusing on customers goes beyond your products. Customers are tired of dealing with companies through phone menus and automated chat bots.

What business will always be in demand? ›

Industries that will never go away are those that cater to basic human needs and thus have continued high demand. Food is considered one of the safest industries for investment and is comprised of diverse sectors including agriculture, ranching, processing, preservation, preparation, and packaging.

What's the cheapest business to get into? ›

25 best businesses to start with little money
  1. Content creation. ...
  2. Personal or virtual assistant. ...
  3. Event planning services. ...
  4. Errand/concierge service. ...
  5. Professional reviewer. ...
  6. Social media consultant. ...
  7. Etsy shop. ...
  8. Online courses and tutoring.
May 3, 2023

What businesses generate the most money? ›

Most Profitable Business Ideas
  • Business Consulting. If you're an expert in your industry and have been working at it for years, you should consider consulting. ...
  • IT Support, Technology Consulting, and Repair. ...
  • Cleaning Services. ...
  • Accounting and Tax Preparation. ...
  • Auto Repair. ...
  • Real Estate. ...
  • Online courses. ...
  • Marketing and PR Services.

What is the most difficult form of business to begin? ›

A business corporation is the most complex form of business organization.

Which is the simplest and oldest method of business? ›

Sole proprietorship is the simplest and the oldest form of business under which an individual is able to conduct business.

What is the most difficult type of business to establish? ›

Corporations (also called C corporations) are also the most difficult form of business to set up and have a number of regulations to comply with. A specialized type of corporation called an S corporation is designed for smaller companies..

How to start a business with $3,000 dollars? ›

How to Start a Successful Business for $3,000 or Less
  1. Start a Business For $3,000 or Less.
  2. Dropshipping.
  3. Making and Selling Jewelry.
  4. Creating Online Training Videos.
  5. Start a Subscription Box Business.
  6. Create a New App or Game.
  7. Summary.

Why do 90% of businesses fail? ›

According to business owners, reasons for failure include money running out, being in the wrong market, a lack of research, bad partnerships, ineffective marketing, and not being an expert in the industry. Ways to avoid failing include setting goals, accurate research, loving the work, and not quitting.

What is the most common business to fail? ›

The information industry sees the highest percentage of businesses fail in that first year. In this industry — which includes customer service representatives and telecommunications equipment installers and repairers — 26.4% of businesses fail within the first year.

Why do entrepreneurs fail? ›

Insufficient marketing, a lackluster business plan or even the wrong legal structure can prevent your business from thriving. The reasons why many entrepreneurs fail early are endless, some being unique to the business owner.

How to start a business with less than $5,000? ›

25 Ideas to Start a Business for Under 5k
  1. Accountant. Before anything, you must determine what your services will include. ...
  2. App Development. The Internet of Things is an exciting area where consumers demand more every day. ...
  3. Babysitting Service. ...
  4. Blogging. ...
  5. Computer Repair. ...
  6. Consultant. ...
  7. Entrepreneurship. ...
  8. Event Planning.
Jan 20, 2022

What not to do when starting a small business? ›

9 common mistakes to avoid when starting a new business
  1. Neglecting to make a business plan. ...
  2. Inadequate financial preparation and resources. ...
  3. Failing to monitor progress and adjust. ...
  4. Buying assets with your cash flow. ...
  5. Avoiding outside help. ...
  6. Setting the wrong price. ...
  7. Ignoring technology. ...
  8. Neglecting online marketing.

How do I start a business with no time? ›

10 ways to start a business when you don't have enough time
  1. Wake up early. ...
  2. Eliminate time wasters systematically. ...
  3. Focus on one thing each day. ...
  4. Only move 1-3 tasks forward a day. ...
  5. Surrender your week, embrace weekends. ...
  6. Put it on your calendar and protect it. ...
  7. Make it public. ...
  8. Take what you can get.
Mar 9, 2018

Is $3000 enough to start a business? ›

According to the SBA or Small Business Administration, most microbusinesses (with one to three employees) cost approximately $3,000 to start. Additionally, they estimate home-based businesses to cost between $2,000 and $5,000 to start.

Can you start a business with $2,000 dollars? ›

For example, maybe you can start a business. It is absolutely possible to start a small business with just $2,000 (or less), but you'll need all your cunning, energy, and a little bit of luck to really make it a success.

What business can you start with $20 dollars? ›

20 Businesses You Can Start for Less Than $20
  • Pet Sitting. Become a paid pet sitter with an investment of $0 thanks to one of many dog sitting services out there. ...
  • House Sitting. ...
  • Babysitting. ...
  • Blogging and Promoting It. ...
  • Direct Sales. ...
  • Selling Used Books. ...
  • Cleaning. ...
  • Driving for Uber or Lyft.
Jan 19, 2018

How to make a $1,000 a month business? ›

Here's How To Make an Extra $1,000 a Month
  1. Start Freelance Writing. ...
  2. Begin Blogging. ...
  3. Practice Graphic Design. ...
  4. Assist with Bookkeeping. ...
  5. Become a Virtual Assistant. ...
  6. Sell Something on Etsy. ...
  7. Manage Social Media Accounts. ...
  8. Complete Online Surveys.
Apr 18, 2023

Which business type is easiest to raise money? ›

Corporation. The corporation generally is the easiest form of organization for raising capital from outside investors. Equity capital may be raised by selling stock to investors.

How to make money from home? ›

23 Easy Ways to Make Money From Home
  1. Rent out rooms in your home. ...
  2. Be a housesitter. ...
  3. Become an online tutor. ...
  4. Rent out your car. ...
  5. Start a freelance business. ...
  6. Pet sitting at your home. ...
  7. Monetize social media and streaming accounts. ...
  8. Sell web domain names.

What are the 4 steps of the business plan? ›

The 4 Phases Needed to Develop a Successful Business Plan
  • Introspection, Research & Insights.
  • Idea Generation.
  • Aggregation & Execution.
  • Ongoing Evaluation and Refinement.
Jan 5, 2021

What are the 4 things for a business? ›

The Only Four Things That Matter in a Business
  • Attracting new customers.
  • Retaining current customers.
  • Finding the right people for their team.
  • Improving their products or offerings.
Dec 20, 2016

What are the five 5 business planning process? ›

Prioritize your objectives. Develop a strategic plan. Execute and manage your plan. Review and revise the plan.

What are the five 5 main parts of a business plan? ›

Business Plan Checklist: 5 Key Components to Include
  • Executive Summary. The executive summary is the most important part of the business plan. ...
  • Company Summary. The company summary is the next critical component of any well-formulated business plan. ...
  • Market Analysis. ...
  • Management Team. ...
  • Revenue Projections.
Mar 29, 2018

What are the 6 key components of a business plan? ›

The 6 Key Components Of Writing A Business Plan
  • Industry & Competition.
  • Business/Revenue Model.
  • Sales & Marketing Plan.
  • Management Team.
  • Cash Requirements.
  • Investor Requirements/ROI.
Feb 19, 2015

What are the 4 C's of business? ›

If you haven't addressed questions like these, then you haven't really created a plan you know you can tackle with confidence. That's where the Four C's – Capabilities, Capacity, Constraints and Culture – come into play.

What are the 4 P's for success in business? ›

To get there, business coach John Spence recommends focusing on the four Ps of success: passion, persistence, practice and pattern recognition.

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