Like most people, you probably kept a journal or diary when you were younger. You don't have to be a child or teenager to still benefit from keeping a journal. In fact, keeping a business journal not only helps you stay motivated, it encourages business growth. As an entrepreneur, a journal works as both a sounding board and planning tool. While you may think journaling is a waste of time, journaling for business purposes has absolutely no downsides. The time you spend is an important investment in your business, and well worth the effort. California Business Journal

Capture New Ideas

How often do you have a great idea on how to improve something, but forget it later? Perhaps a customer made an amazing suggestion, but now you can't find it. If you create a journal, you can jot these ideas and suggestions down along with any details on how to implement the idea. No longer will you forget ideas which could help your business grow significantly. If you use computer software versus a written journal, you can actually tag entries to quickly find them later.

Measure Progress

Many entrepreneurs measure success based upon profits. However, if your profits have increased slightly but you spend twice as much time working, you really haven't succeeded. The best way to measure success on all levels is through a journal. Use it to create goals and document when you've succeeded. For instance, if you've been trying to promote your website, use your journal to document which methods work the best so you know which ones to focus on in the future.

By measuring your progress through a journal, you learn what does and doesn't work. In the end, you increase profits and decrease the time necessary to run a successful business. Successful entrepreneurs combine journaling with goal charting software to fully track results.

Keep Notes

You should always be learning new things as you build your own business. Use your journal as a notebook for keeping track of the different things you learn, as you learn them. You never know when re-reading your notes could make the ultimate difference in your business. You can't rely upon your memory alone. When you're given good advice, read tips from entrepreneurial leaders, take classes or gain knowledge in any other way, always jot it down, where it will be readily available for future reference.

Journal Successfully

When keeping a business journal, you have two options. You can either go with the standard pen and paper or utilize computer software, including online applications for use anywhere. Both are highly effective. An entrepreneur journal can also be a combination of the two. You can keep a written journal on hand for quick notes and later enter them into your software. The main benefits of software is the ability to tag and organize entries. However, you should always keep a backup of any digital journals.

Journal at least several times each week, daily if possible. The more frequently you journal, the more motivated you become. You are able to vent, strategize and see your business grow. Your journal becomes a living document and guide for your business.

For more tips on building a successful business, look to Elite Entrepreneur. Learn how you can be not just an ordinary entrepreneur, but an elite entrepreneur, one that all others look up to.