October 01, 2015

The Truth About Working 80 Hours a Week (It’s Not What You Think)


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I spend a lot of time on this blog talking about how to make yourself and your organization more efficient. Whether it’s taking on debt or bringing on help, I’m a firm believer that knowing how to leverage resources for maximum impact is what separates successful businesses from the rest.

That’s why what I’m about to say may surprise you.

There are times where you have to work 80 hours a week.

At AcceleratingCFO, one the roles I often play for my client is that of profit improvement consultant. When I’m working with newer businesses in this capacity, what I sometimes see boggles my mind.

Sometimes I’ll encounter the founders of a company that doesn’t yet have one penny of revenue celebrating the signing of the lease on their 5,000 sq. ft. Manhattan office space. Or I’ll come across a company that hasn’t even figured out how to implement the technology service that will make their venture viable…yet they’re already bringing on ten new employees.

It’s like this: When you’re starting out, you must keep fixed costs down. In the early days, avoid giving away as much equity as possible in your business by doing the extra work yourself. Rather than throwing your money into a lease, work out of your apartment. Dedicate your nights and weekends to work rather than creating a payroll you can’t handle.

It won’t be fun all the time and it will be hard. At the same time, it won’t last forever. And when you come out the other side, you’ll have a business of your very own.

Are you prepared to handle the biggest challenges faced by business owners?

Don’t get blindsided by problems that other talented leaders have already solved.

We’ve teamed up with Dr. Hector Lozada, Professor of Economics at Seton Hall to survey business owners ranging from start-up founders to seasoned CEOs. What came out of it is a cheat sheet for sidestepping the roadblocks, bottlenecks, and challenges that plague your colleagues and competitors.

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