How Many Hours Does An Entrepreneur Work
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An entrepreneur would usually work on all fronts of the business whether it is developing a product, or maintaining existing products and services.
So if we had an entrepreneur who had a product which had been designed and completed, what would the work flow be like?
Product description for attracting customers
The first thing this entrepreneur would do would be to create a product description in order to attract customers. I have also found that some customers are not clear on what they want and the benefit of your product, and might need to be presented in a variety of ways before they are convinced to buy.
Once you have customers identified you would need to identify what they actually need your product for in order to develop your sales strategies.
In addition, once you have identified the major components of a product which it would need to include, you would need to develop a prototype so you can carry out a market test.
The next stage would be the time spent in the factory or warehouse completing the development of the product. At this stage you would need to carry out the relevant tests and approvals to validate the product.
Once the prototype is completed it is tested and developed further until you reach the stage where you feel confident enough to have it ready to go to market. Once your product is ready, you need to market your product, in other words you would need to sell it to customers in order to get them to buy it.
So with marketing comes the need to attend trade shows, do web sites and other marketing activities
The only exceptions I have found to working a typical seven day week are when you are developing a product or launching a new product.
That is the typical working week, but if you had the task of testing a new product and as a result of your testing found the product to be unsuccessful, you wouldn't have to complete any more work, you would simply take the decision to withdraw that product and move on to the next one.
So the work a week schedule is the entrepreneur's work week. A typical week is seven days and in most cases it will contain a mix of different tasks including development, production, selling and marketing activities and that is why most entrepreneurs work seven days a week.
Now there are always periods of days off, such as weekends or holidays. When these days off occur it is during that time period that your work week might change.
For instance, if you are developing a new product, you might only be working during the weekend, but when you have finished developing that product you would need to prepare for the sales period and that takes time and effort.
When you are launching a new product you would be working until you sell your product. So if we had an entrepreneur who has a product which has been developed and is ready to go to market, what would the work flow be like?
In this scenario the entrepreneur's work week would include a mixture of different tasks:
- Develop a marketing plan for the product
- Make contact with the customer
- Prepare the product for sale
- Create sales materials
- Create the display material
- Try to place the product on the shelves where the customer shops
- Conduct a trade show to show the product to interested customers
- Contact potential customers
- Make sales to customers
- Make sure the customer takes the right item
- Contact a manufacturer if there is a problem with the product
- Improve the product
- Go through testing of the product
- Make changes if necessary
- Put the finished product on the market
- Read the market research report
- Read an enterprise agreement and sign it to finalise the deal
- Update the business records and register the business with the state
- Copies of the enterprise agreement must be made to the entrepreneur's bank
- Sellers' agreement must be signed by both parties
- Official document attesting to the registration of the business
- Legal contract detailing the sale of the product and the delivery of it
- For those interested, an outline of a typical entrepreneur's work week.
The short answer is that it is seven days.
That means the entrepreneur's work week is 14 hours. I did want to mention that there is usually a lot of multitasking done during the entrepreneur's work week.
For instance if you are taking customer quotes and follow up on these quotes then the numbers do add up to a lot of hours. The work week is 7 days and the maximum number of hours that the entrepreneur can work a week are 14 hours.
At what point does it end?
This is when the owner is tired and ready to stop for the day. The entrepreneur's work week can be longer than that, but the difference between one work week and another are the hours during which the work is done.
So in a seven day work week, the entrepreneur can work a total of 7 hours. During those 7 hours, the entrepreneur can complete tasks:
- Marketing tasks
- Sales tasks
- Production tasks
- Sales tasks
In addition, the entrepreneur can do administrative tasks such as:
- Employee management
- Protocol management
- Facilities management