Time driving Entrepreneurship
When times are tough, we often search for various paths to achieve easy success. Although, success does not come easily, the debate remains tough, as of how to achieve it. As a result of this debate a big question arises into the minds of the young generation, whether to be an ‘employee’ or an ‘employer’? According to most popular cultures and beliefs, landing a good and prosperous job is considered to be a milestone for success for an individual. Hardly do people see from the other side, as of the person who chooses not to land a good job, rather to create several of them for others. In short, it has been observed that setting up one’s own business or the very notion of entrepreneurship is mostly looked down by the common mass.
Despite the fact, we are witness to multiple tycoons and legends, who have shaken the very foundation of society in general through their enormous achievements in the business world. For people who choose to have a steady salary, limited responsibilities, and a considerable time away from work, doing a job is the best option. But, for people who seek new challenges every dawn, to whom security is not the first priority, and innovation with independence is what they strive for, being an entrepreneur is the natural calling. The only factor to keep in mind to become a good entrepreneur is the proper utilisation of ‘time’. As Benjamin Franklin said, “Time is money”.
The brains behind BoDE Foundation have delved into this aspect of time to come out with a thought, worth imbibing into our lives. As studied, at the end of each day, 1,440 minutes have passed us by. Every person on earth shares this limitation. The question is, how shall we use them? In BoDE, we believe strategy is key.
Before we explore in detail the BoDE philosophy, we have to take into account the concept of time. After all, time is the most valuable currency in life. Once lost, it is gone forever. Lost time can translate into lost opportunities, missed connections, and lost destiny. Losing time means not living life on our own terms.
BoDE believes, we need to value our time. With regards to entrepreneurs, this does not only mean putting a dollar value on activities that generate income but knowing that everyone’s management of time in the company will have a direct effect on its future.
One of the central tenets of BoDE is the recognition that business functions and resources must adapt to customer needs that are continuously evolving. One of BoDE’s key elements, therefore, is to compress time, allowing for rapid, nimble reaction. Schedule progress reviews on a quarterly basis. Rather than an annual review of all facets of our operations, which at present is being conducted every three months. As a result, our progress can be four times faster than normal! BoDE calls for conducting surveys of customers and employees every quarter. This enables us to assess our needs for any changes to our systems and processes at the same interval. In this day of accelerated technology, anything we do to stay ahead of the normal learning curve is going to be to our advantage.
The time function of BoDE’s philosophy must be part of the company’s culture as well as everything else. The element of time is important in bringing about the success of each part of BoDE, which, in turn, leads to overall success for the business. This overview of an example of time management with respect to BoDE Foundation, can be seen as a manual to all aspiring entrepreneurs. It is often seen that, when people are engaged into a particular job, they have separate times for every aspect of life, as their works require a very limited amount. While around 30% of entrepreneurs work for 50-59 hours per week, sometimes even making less money than job holders. Despite security being almost nil, entrepreneurship with proper time management, is a challenge, which may change the course of life of an individual forever.