Business for entrepreneurs are their passion project, but it’s probably also their number one source of stress.

So entrepreneur, when your productivity is directly tied to your business’s success, it’s all too easy to neglect life’s necessities in favor of long hours at work. However, while it’s good to chase your goals, successful entrepreneurship requires balance.

It’s possible to achieve work-life balance, manage your stress, and still achieve your business goals, but it doesn’t come without a little effort. Here are four changes you need to make to strike a healthier balance for your business.

Set a Work Schedule and Develop Routines

Routines and schedules foster productivity and prevent work from bleeding over into the rest of life. They also provide structure and predictability in the often-unpredictable world of entrepreneurship. Decide what time to start and finish each workday and commit to it. Zapier recommends adopting a morning routine to get you in the right headspace for work and an evening routine to put today behind you and prepare for tomorrow. During your workday, schedule your time so you know exactly how long you can spend on each task without sacrificing productivity in the process.

Upgrade Your Workspace

You won’t be productive if your desk chair is giving you backaches, your computer is running slowly, or your family is interrupting you every five minutes. And as an entrepreneur, letting your productivity suffer is as good as throwing money away.

 

If you’re working from a home office, make sure it’s ergonomic, organized, and free from unnecessary distraction. If outdated equipment is holding you back, upgrade it. You’ll easily pay back your investment with increased productivity. Also, if your home office has too many limitations, a co-working space could be the answer. With clean and ergonomic workspaces, co-working spaces offer a professional and convenient office environment for entrepreneurs. Plus, co-working spaces offer a lot of other benefits to budding businesses.

Be Good to Your Body

Junk foods and sugary drinks help you power through hectic days at work, but they’re not the best for your health or your productivity. Instead, be deliberate about what you eat and drink. You’ll fuel your body with high-quality foods and hydration that keep you operating at peak performance throughout the workday and beyond.

 

Eating well is easier when you plan ahead. Plan and prep meals at the beginning of each week so you can grab and go in the morning. Keep a reusable water bottle at your desk so it’s convenient to stay hydrated, and watch your coffee consumption. A little caffeine is great for a boost, but too much could lead to insomnia, anxiety, and other unpleasant effects.

 

Don’t forget sleep! Not surprisingly, sleep is key to your ability to stay focused at work. If you forego sleep to chase deadlines, you’ll pay for it in lost productivity the next day. If you routinely skip sleep, both your business and your health will suffer.

Keep Your Finances on Track

There aren’t enough healthy routines and habits in the world to make up for the stress caused by financial woes. As a business owner, it’s imperative that you actively manage your business’ finances. If you don’t, it’s only a matter of time before your business fails. Additionally, entrepreneurs must closely monitor their cash flow. Staples Business Resource Center lays out the basics of cash flow management that every entrepreneur needs to know.

 

Entrepreneurship isn’t like other jobs. When you run your own business, you have more freedom and flexibility than you’d ever find in a typical career. However, if you don’t manage your business effectively, you’ll also have more stress, longer hours, and less financial certainty. With these tips, you can run a business that’s as manageable as it is successful.

If you still need help or guidance, you can always contact Turbine Business Incubator. This incubator for start-up is located in Moka, Mauritius and has for mission to enhance the entrepreneurial and innovation ecosystem in the Indian ocean. You will eventually find solace by discussing with the Turbine team.

Sure, Silicon Valley may be the first place that comes to mind when you think about startups. If you have entrepreneurial dreams, why not launch your start-up in Mauritius? Mauritius is ranked among the first countries in Africa and surely has a lot to offer to new entrepreneurs.

What is a Start-up?

A startup is a young company that is just beginning to develop. Startups are usually small and initially financed and operated by a handful of founders or one individual. These companies offer a product or service that is not currently being offered elsewhere in the market, or that the founders believe is being offered in an inferior manner.

Start-up VS SME

It’s no surprise that many are confused with start-ups and SMEs. They’re both established by entrepreneurs. They’re small in terms of revenue and number of employees. So, how are they different? Both are pursuing different business models and with significant differences in intent, function and funding options.

A start-up is temporary (usually lasts for 6 months) and it’s all about trial and error. For a start-up, it’s all about experimenting and testing your business model. The entrepreneur is usually uncertain about its target group or they are looking for a proper channel. Then they will start experimenting and searching for answers to the product they are trying to sell, checking out the market’s niche and how to maximize your revenue from the right customers. Finally, they will be able to grow it faster once your business model is settled and stabilized.

An SME is more permanent and it starts out with a structured organisation that focuses on the delivery of value to its already-known customers. An SME does not need to change its business model. Which means, at this stage, an SME is established with a stable and successful business model. SMEs are driven by making a profit and intend to secure a financially sustainable spot in a local market for the long run.

Launch your start-up in Mauritius

Now is an exciting time to witness the making of a startups scene, boosted by the returning Mauritian diaspora and local change-makers. And on a small island, you have the privilege to feel part of something huge! Want to launch a start-up? Why not?

Over the last 18 months, coworking spaces have popped up in each major business hub of the island. If you’re looking for a startup’s hub, The Turbine which a converted sugar factory turbine is the place to go and is the first startups incubator of the island.

Startups fill the void in society and create new ways to provide products and services to consumers. Mauritius being a developed island has still many unknown possibilities for new businesses for some beautiful years ahead.

8 steps to follow to Launch your Start-up in Mauritius:

  1. Conception of project/Business idea
  2. Preparation of business plan
  3. Deciding on form of business
  4. Choosing the right location
  5. Registering the business
  6. Look for funding sources for the project
  7. Implementing the project
  8. Planning and Organising Business Activity

How much does it cost to initiate a start-up?

Many people underestimate startup costs, and start their business in a haphazard, unplanned way. This can work, but it is usually much harder. A start-up might cost nothing but can also cost a lot of money depending on business nature. The 3 main costs incurred by start-ups are as follows:

  • Startup expenses: These are expenses that happen before the beginning of the plan, before the first month. For example, many new companies incur expenses for legal work, logo design, brochures, site selection and improvements, and other expenses.
  • Startup assets: Typical startup assets are cash (in the form of the money in the bank when the company starts), and in many cases starting inventory. Other starting assets are both current and long-term, such as equipment, office furniture, machinery, etc.
  • Startup financing: This includes both capital investment and loans. The only investment amounts or loan amounts that belong in the startup table are those that happen before the beginning of the plan. Whatever happens during or after the first month should go instead into the Cash Flow table, which will automatically adjust the Balance Sheet.

These will vary upon business nature – a simple Marketing Agency might need only some thousands of rupees to start but a small manufacturing agency might need some hundreds of thousands to start.

How can La Turbine help start-ups?

As an incubator, La Turbine help start-ups (businesses with either a tinge of innovation or an innovative concept/idea) to be established sustainably in their respective market. In their incubation program which lasts a year, La Turbine accompanies the entrepreneurs in taking the best decisions to achieve their milestones and objectives.

They are provided with a one to one weekly coaching and access to field experts in La Turbine’s network, potential investors, business angels and in many cases their first clients. A series of tailor-made workshops are designed for them to level up their entrepreneurial skills.

The incubated start-ups get free access to our networking and entrepreneurial events. Basically, they are considered as being a part of La Turbine. As mentioned before, La Turbine is a start-ups incubator with a co-working space. For the first six months, the incubated start-ups get to use the co-working space and its amenities freely. The last six months, they get a preferential rate. (This soothes their numbers)

There is an increasing number of people opting to launch their own businesses these days. There are various speculations that can aim to explain this phenomenon. One principal speculation, is that more and more people appreciate the satisfaction of working for themselves. Another is that people are increasingly connected and exposed to more and more innovative concepts. Perhaps people believe that being employed and working for someone else’s enterprise puts a ceiling on the figure one earns every month, whereas in running one’s own business, that figure has a direct correlation with how hard you are working. The mathematics here appears to be quite simple. But is it really?

In running one’s own enterprise, it is crucial to ensure that we are giving ourselves and the best tools and opportunities to succeed. In reality, it is very difficult to ascertain a startup’s chances of success. Running a startup is like juggling at least 6 balls during most of your waking hours and on one leg. For this reason, many startups decide to opt for an Incubation Program.

Benefits and possibilities offered to Start Ups by an incubator

Well who said you could not run your business from your own garage or from a friendly neighbor’s garage? This have worked very well for Larry Page and Sergey Brin since they now own the lion’s share of Google. Yet, let’s be realistic – the focus is to make enough day by day and to survive. One instrument that might come in handy remains the business incubator. An Incubation Program is one that is designed to help startups develop in its early stages. It does for a startup what an actual incubator does for eggs: Prepares them for hatching successfully and healthily. But metaphors aside, Incubation Programs offer coaching, workshops and networking for early stage enterprises. They provide a curriculum with set objectives specific to the startup and outcomes that it needs to identify and deliver. So, a business incubator, in turn, is an organization that provides these services.

To survive and thrive, what does a start -up need? What are startup’s basic necessities?

1. Affordable Workspace for Start-Ups

Business incubators firstly offer a co-working space for new entrepreuneur. These are cost effective workspaces with a varied pool of professionals renting seats to work. The benefit here is two-fold: a free workspace means exemption from having to allocate a significant sum from one’s budget. And secondly, it provides automatic access to a wide network of professionals that entrepreneurs can tap into for advice and better yet, collaborations. Since coworking spaces are known for their eccentric layouts and decors, it does not hurt to have the opportunity to impress potential partners and clients by welcoming them into a hip and trendy environment.

2. Access to a vast network of mentors, experts and industry partners

A crucial component of any business incubator corresponds to the large network of business advisors and partners that can help advance the business. From Entrepreneurs-in-Residence which provide high-level strategic guidance to specialized mentors for niche industries, the difference between success and failure can truly come down to who you know.

3. Funding opportunities for new entrepreneurs

Everybody knows entrepreneurs need money to expand and grow their businesses, and although many early-stage startup companies raise their initial funds through the 3 F’s (friends, family, founders), there will come a time when a more substantial round of investment is necessary. Membership in a business incubator not only can connect entrepreneurs to venture capitalist and/or angel investment groups, but it can make the business a more attractive investment opportunity to such groups.

4. Support system during the “treacherous” early stage waters

Whether it is a product flaw or an incompetent management team that leads to its demise, incubation programs strive to mitigate that early-stage risk of starting a business through programmatic and developmental resources. It also helps being able to talk entrepreneurs off the ledge when they have a rough day.

In a nutshell, Business incubators’ main aim is to educate new entrepreneurs in best business practices while providing mentorship and guidance.