Entrepreneurs are in a challenging situation. They have to be good at so many things but are strapped for time.

Most entrepreneurs have limited time, energy, and other resources available to spend on self-development. Yet, at the same time, entrepreneurs are in a position to gain the most from improving their knowledge and skills.

It’s a tough balancing act and one that must be managed well. So how do you do this?

If you’re an entrepreneur, try these ideas to successfully undertake self-development projects:

  1. Carefully consider what you need to learn. Assess your needs and weaknesses and make a decision about what you need to learn. What will most add to your life or your business? Entrepreneurs are short on time, so it’s important to make a wise decision about how to spend your self-development time. Ask yourself, "What would most benefit my life or happiness?" Then ask yourself again, "What would most benefit my business?" Write down all your answers starting with the thing you want to prioritize the most.
  2. Selling skills. It’s hard to make money without customers or clients. Selling skills can be among the most valuable for entrepreneurs. If you don’t have all the income you desire, enhancing your selling skills might be a logical choice for your self-development efforts.
  3. Marketing skills. If people don’t know about your business, you’re going to struggle. There are tons of inexpensive marketing choices available today for entrepreneurs. Maybe your business will benefit if you strengthen this important skill.
  4. Social skills. Networking, gaining, and maintaining customers and clients is a big part of an entrepreneur’s job. If your social skills are subpar, your business will struggle. Everyone can benefit from greater social skills, whether they’re an entrepreneur or not.
  5. Public speaking. Depending on your business, this can be a very useful skill. It can build confidence and comfort when dealing with people. Speaking at conferences can be a good way to market and sell your services or products to a larger audience. If you find it hard to speak publicly in a huge crowd of people, you might want to consider taking online public speaking classes to boost your confidence.
  6. Goals. Do you have goals? Many entrepreneurs would benefit from having a set of reasonable and applicable goals to work toward. Setting and striving for goals is a valuable skill to develop. It’s a skill that will be useful in more areas of life than just entrepreneurship.
  7. Focus, discipline, perseverance. These are three qualities all entrepreneurs could use more of. If you’re lacking in any of these areas, consider implementing a program that builds on one or more of these characteristics. Other qualities to consider include the ability to deal with stress, confidence, and motivation.
  8. Time management.     Entrepreneurs are frequently pressed for time. The closest anyone can come to creating time out of thin air is to learn how to manage their time more effectively.
  9. Health. Most small business owners fail to care for themselves properly. Too little sleep, too many skipped meals, poor food quality, and a lack of exercise are serious impediments to good health. Making your health a priority and building some healthy habits might be the best way to spend your self-development time.
  10. Balancing Relationships. Entrepreneurs are notorious for having troubled relationships. The time commitment of running a business and the stress that goes along with it can be a real strain on any relationship. Perhaps learning how to reconnect or finding ways to balance your business and relationships is the best skill you can learn at this time.

Entrepreneurs are short on time, so they must approach self-development intelligently and efficiently.

Decide what area of self-development will best serve your business or life. Do you mostly want to make more sales or to enhance your health? Is managing your time the best skill for you to learn at this time? Take a look at your current situation and allocate your self-development hours appropriately.