Stop wasting time: How to manage your time as a business owner
Launching, executing, growing, and operating a business require a huge amount of efforts, as it requires a lot of planning, research, marketing, networking, business strategy, and some other related activities. In simple terms, there aren’t enough hours during the day. Therefore, to get it all done, it is essential to manage your time effectively.
As a result, business owners are always on their toes, and every step or decisions they make will have an impact on their business. Effectively managing their time is a skill that it is essential in every business setting.
Time management is a skill each entrepreneur should possess; unfortunately, it is a concept that many people struggle with. Businesses in particular cannot afford to waste time as bad time management affect the running of the company.
Various time management systems such as cloud-based time tracking system allow you to manage your schedule as well as that of your employees right from your PC or smartphone. These systems make it easy for you to manage your time and business as well.
Benefits of managing your time effectively
Time management practices have immense benefits for a business. It puts a company in a better position of providing their goods and services on time. It allows a business owner to solve any issue that might arise without significantly affecting the day’s operations. A planned and structured schedule provides extra time for unforeseen circumstances.
With the ability to quickly manage your schedules and assign tasks, you can rest assured that your business will run efficiently.
As a business owner, you can’t afford to waste time. Here are some tips and tools that will help you improve your time management at your workplace and hence the productivity.
- Set your goals
As you start your day, it is necessary to have a clear goal of what you need to accomplish. By placing your goals, it will be easy to succeed in your work as well as track your progress towards achieving your goals.
A business owner should have a clear picture of what to achieve; let’s say five months to hit the sales target or the income to expect each month and so on. The goal should be measurable and realistic. With adequate time management skills, you will be able to accomplish your organization’s goals by making maximum use of the available time.
- Plan for improved time management
It is crucial always to spend some time planning for the day’s activities ahead. It saves your time an unnecessary pressure during the day. Establish your goals for the day and work on a realistic timeline to accomplish them.
As you plan your objectives, you should be realistic about what you can achieve and the time limit you can accomplish your goals. Your priority should always focus on delivering high-quality services or products. Therefore, you should allocate ample time to each activity.
There are numerous apps such as Trello or ToDoist that can help you with adequate planning. ToDoist enables you to create and manage your list of activities. It features a simple design and lets you type in specific projects for the day, split them into specific tasks and set deadlines for each work. It is easy to move the tasks around giving each task one of the four priority levels.
Trello, on the other hand, is an excellent app for visualizing the projects. It enables you to allocate tasks to your employees by setting up boards representing the projects. In each board, you can set a list of activities to be done on a series of cards.
- Prioritization is vital
Prioritizing each exercise in your schedule for the day will help you stay focused. As a result, you will be in a position of accomplishing your goals. Rank the activities depending on the deadline and order of their importance.
The most important task should always come first. For complex tasks, it is essential to break them into simple tasks to make it easier to comprehend. The simple tasks are easy to execute and will save you from the hassle of focusing on a single work the whole day leaving other tasks unattended.
If possible, always start with a simple task that will take a short time to handle. It set your mood for the day. Failure to complete a complex task might demotivate you hindering you from progressing with the plan of the day.
- Stick to your plan
When you plan your schedule and prioritize your activities, always stick to it. At times, some projects might take longer than expected. It’s normal, and this should not discourage you. It is okay to have emerging tasks in your interactions during the day, and some unforeseen situation might also arise that might require your attention. However, your plan will help you focus better allowing you to decide whether the emerging issues are in line with your company’s goal. Some apps such as Focusme will help you remained focused on your plan. It allows you to block specific sites that might distract you for a period. You can set a block duration form minutes, hours, days, to years.
You should ensure that you stick to your base plan and follow it to the latter. The goal of planning and clinging to the idea is to provide a smooth flow of your business.
- Take short breaks
While taking short breaks from your working times seems like a wastage of time, it is vital for your productivity. Neil Fiore in his book, “The Now Habit” shows the importance of relaxation breaks. As your body needs to relax, your mind also needs to rest from sustained concentration. Focusme app allows you to set break reminders as you can get too absorbed in your work.
You can apply Pomodoro Technique that allows you to get absorbed in a task for about 25 minutes blocking other distractions. Once the 25 minutes are over, you can consider a break of 5 to 10 minutes to give your brain a chance to rest. Once your break is over, you can proceed with the task at hand or move to the next task on your to-do list for another 25 minutes. In case of any distractions, you can note them done and deal with them later.
- Know when to delegate
As the owner of a company, you may have more on your plate than you can handle within the given time. This calls for delegation of tasks to the right employees. Knowing when to delegate some tasks to other team members is crucial, as it will save you some time.
Knowing the tasks will depend on the time and how well someone else can handle the job. You should also put into consideration whether there is a need for extra training or extra time to review the work than it would take you to handle the task yourself. With this, you will make an informed decision on whether to delegate the job or not. Also, it is an excellent opportunity for your employees to get motivated with the increased responsibilities.
Being an entrepreneur entails many personal and professional traits that help one to lead as an example. The values and work ethic you display will have a direct impact on the culture of your employees as well as the business profitability. The leader should cultivate and instill the value of time management at the workplace. Effective time management is a key to effective and efficient running of a business.
Finding the best time management solution that works for you is not that simple as t looks. What works for a particular business might not work for yours. It requires trial and error of different techniques before finally settling into one that will help you manage your time effectively. As a business owner, it is essential to develop and improve your time management skills continuously however Enterprise Assurance PAC can help you because we provide range accounting services in singapore that can help you set up and manage your company in Singapore easily thus allowing you to manage your time more efficiently. So, what are you waiting for? Contact us today!