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Time is your most valuable asset

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Time is an asset

Time is an asset!

Time is your most valuable asset. As an entrepreneur or business owner time is in many ways more valuable than money, and you should be spending your time on high value priorities that will drive your company forward.

Chances are you spend a lot of your time on lower priority tasks that could be delegated. Something that takes several hours a week out of your time just might be something that another team member could do just as well as you, if not better.

Time is something that cannot be gained back once it’s lost, so it makes perfect sense that you would delegate lower priority tasks in order to serve the greater overall vision of your organization. Lets say your goal is to get your widget into over 1,000 retail locations across the United States. One of your primary goals as a small business owner would be getting sales. This means a large chunk of your time should be spent on trying to gain new accounts, but you are currently spending a lot of time answering customer emails that come in through your website. You are better off delegating the emails to somebody on your team and getting on the phone to make sales calls.

The 80% rule that applies to delegating a task, also applies to time. 80% of your time should be spent on things that are key to the vision of your company. They other 20% should be spent on simple operational type tasks, and delegating the things that get in the way of the big picture vision of your growing business.

If you are unsure what tasks fall into the 80% category it might be time to do some strategic thinking and figure out what your companies’ top priorities are. It would also be a good idea to track your time throughout the course of a week and figure out just how much time you are spending on given tasks. Then at the end of the week calculate just how much time you spent on high priority tasks that move your vision forward.

And remember, time is your most valuable asset. Guard it with care and learn to delegate so that you are free to work ON your business rather than in it.

Four Years of Wedded Bliss

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Today I celebrate four awesome years of marriage to my amazing wife Kristy. In these four years she has been a huge supporter of my entrepreneurial endeavor, we have had two children, and had many great adventures together. She is my precious treasure, my best friend, my encouragement and support in all things. I love hear loads, and look forward to many more years together with her.

One example of how great she is can be seen in the post she wrote on this blog, How to love your entrepreneur.

My three favorite Austin based companies

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Kammok LogoIf you are looking to start a business, Austin is a great place to launch from. The city is full of entrepreneurs. Even though a lot of those new businesses are tech related, there are also several amazing consumer packaged good companies started out of Austin, including my own company, Bearded Brothers.

Tech companies are a dime a dozen, but entrepreneurs producing tangible products are far fewer, so if you plan on starting a business for the world’s next greatest widget then Austin, Texas is a great place to launch from. They city is full of like minded entrepreneurs, which makes for a great pool of friends to draw from for support and encouragement.

Since starting Bearded Brothers I have meet the owners of several other companies. All of them have interesting and inspiring stories. Below is a list of my three favorite Austin based companies in the consumer packaged goods market.

Kammok
Kammok makes the most comfortable and easy to use hammock you will ever lay in. Prior to meeting these guys and trying out their product I could care less about hammocks, but now I love my Kammok.

Kammok is a 1% For The Planet member, and they donate their 1% of total sales to CTC International, as well as helping children receive life saving treatments through Malaria No More. Their mission is to Equip and Inspire for Life Changing Adventure.

SPIbelt
The world’s first, and best Small Personal Item Belt. Developed by Austin local Kim Overton to solve the problem of not having a good place to store keys while running. After her, “there has to be a better way” epiphany, she created the first SPIbelt: a small no bounce waist belt to hold small personal items such as keys and cell phones.

Her company has strong local roots. In the early days of her company she provided jobs to people in the local community that allowed them to work from home producing the belts. Kim has since moved her production process to a warehouse close to downtown, but still provides jobs for people in the local community.

Chameleon Cold-Brew
This is hands down the best cold brew coffee on the super market shelves. Started by the owners of Bennu Coffee as a side project, this small company is taking off like wild fire, and now has its product on the shelves of Target in the Southwest Region. While Chameleon is still fairly small, they are available across the nation in select stores.

I have had the pleasure to meet both of the owners, and both are very generous and always willing to talk business and offer advice. Chameleon and Bearded Brothers actually recently attended Expo West in Anaheim California and were just two both spaces down from each other!


There are many other amazing companies in Austin, making it an excellent place to start a business. The community here is very supportive of local products, making it easier to get your business off the ground by getting support from the people you live closest to.

Although you will find the cost of living in Austin quite a bit higher than a lot of places, the trade off is worth it for the community of like-minded entrepreneurs you will have access to. If you are thinking of starting a consumer packaged goods business, Austin is the place!

Running a business is like running an ultra marathon

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Trail running a portion of the Wasatch 100 course in Utah.

Trail running a portion of the Wasatch 100 course in Utah.

  • The “finish” line is a long ways off; it seems daunting, even impossible.
  • The journey ahead of you is long, and takes ENDURANCE.
  • If you stop moving forward you will likely quit.
  • Everything inside you will tell you to quit when it starts to hurt.
  • Getting to the “finish line” takes time, patience and training.

As Zig Ziglar says, “People don’t wander around and then find themselves at the top of Mount Everest. You hit what you aim at, and if you aim at nothing you will hit it every time.”

Aside from having and end goal in sight, the two biggest similarities I see are endurance and battling mental demons that tell you to quit.

Endurance: success in business and in trail races is not, and never is overnight. It’s a long journey with a clear destination in sight. It requires persistently moving forward, a must for an ultra marathon runner, even when it huts.

When it does hurt, the mental demons will tell you it’s time to stop, or take the easy way out. But you can’t listen to them. These voices scream at you during an ultra marathon, but you have to ignore them and keep moving forward. The same is true in business. Ignore them, because the pain is only temporary. It always gets better.

Fatherpreneurship, six tips for being a great business owner and father

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First of all I’m super excited to announce the birth of my son Joshua. He was born on Friday, May 16 at 3:44 p.m. He weighted 10lbs 9oz. My wife is a super woman, and has done something infinitely harder than any Ultra Marathon I will ever run.

Hello, World!

Hello, World!

The birth of Joshua got me thinking a lot about how much of a privilege it is to have a family and be an entrepreneur. Running your own business essentially allows you to set your own schedule so that you can have more time with family.

Here are six tips for being an awesome father and entrepreneur. For some entrepreneurs, this might not be easy, but I can tell you from personal experience these things work, and are totally worth it. It will strengthen your relationship with your kids, and your spouse.

1. Don’t make 50-60 hour workweeks the norm. Limit your workweeks to 40 hours or less on a normal week. If you do find yourself needing extra hours to get things done, wake up early in the morning to complete those tasks, rather than cutting into family time in the evening.

2. Establish a work cut off time. For me this is typically 5pm, but I sometimes take calls until 6pm because of time zone differences. Once I’m home, that time is family time. I even have my phone scheduled to enter do not disturb mode every day at 6pm, and it stays that way until 7am the next day.

3. The home life is your sanctuary. Guard the time you have with your family in the evening. Resist checking email, and don’t check social media. I admit these are actually hard ones fore me to be consistent with, but when I do I find the time with my daughter and newborn son much more rich, and my wife appreciates it A LOT as well.

4. Take your kids along for the ride. We all have hobbies, so include them in your hobbies with you. I love running and rock climbing, so I try to take my daughter on a run with me at least once a week, and I bring her to the crag to go climbing whenever I can. The running actually ends up giving my wife a break from taking care of the little one, and the trips to the crag give the entire family time to bond. Sure, your training plans are going to look different with a little one in tow, but sharing the joys you have with your children are far more important than setting a new PR in your next race.

5. Stop being selfish. Just as you have to focus on the needs of your team to have a successful business, you have to focus on the needs of your family to have a rocking family life. If you focus less on yourself and more on your little ones and wife, life will be much more rich.

6. Get your work life organized. If you struggle working 50-60 hours a week, chances are you are not working efficiently, and are wasting lots of time. The most valuable thing you can do for yourself and your family is to get organized so that you can peacefully leave work at the end of each day and be devoted to family time. I highly recommend the KanBan system for organization, as well as reading Getting Things Done by David Allen.

Being overworked sucks! Being in control of your work and spending time with your family is awesome. How do you manage running a business and carving out quality time with your family?