Time is like money: you need to know how to invest it in maximising your returns.
Building a business requires you to put many hours in undoubtedly, but the real key is to work smarter, not longer. By carefully managing your time, you can ensure that you achieve your goals without suffering from burnout.
Let us walk you through seven easy time management tips to ensure that your business runs like a well-oiled machine.
1. Plan ahead
Planning is investing. There might be an upfront cost, but you could see a tenfold return further down the line. Nine out of ten times, a haphazard, unplanned approach is ineffective and does not yield the same results. Planning helps you remain focussed and allows you to measure your progress. It doesn’t just apply to your long-term business plan but to short term goals too.
- Write out a rough schedule each Monday
- Figure out what you’re week is going to look like
- Take time each morning to sit down and plan your day
2. Use productivity applications
Productivity Applications help to manage your time effectively. They assist in operating to-do lists, prioritising tasks, and meeting deadlines. These applications time your tasks which will eventually help you in boosting your productivity. Some of these apps are:
Business owners often feel as though they should do everything themselves, especially small business owners. But delegation is essential for optimal time management. Outsourcing and delegating tasks allows you to manage your time effectively. Concentrate on your areas of expertise rather than the admin tasks that another team member could easily handle.
4. Say NO
Don’t take on more work than you can handle. You might overwhelm your business and ruin your reputation. One of the essential parts of time management is knowing when to say no. If you don’t have time to complete the project to the best of your ability, it’s better to turn it down than do a lousy job.
5. Don’t be tempted to multitask
Multitasking might seem like a great way to save time, but it decreases your work’s quantity and quality. Its wiser and time-efficient to focus on one task at a time and work methodically rather than trying to juggle. When your attention gets divided in multiple directions, you’re much more likely to make mistakes that you’ll have to go back and fix later.
6. Be honest with yourself
We don’t admit that they waste valuable working time on Facebook, Instagram, Twitter, Snapchat, but you’re only human. It’s better to be aware of your weaknesses and actively work on fixing them rather than allowing them to drain on your precious time.
- If social media sites are your weakness, use blocking software so that you can’t access them during working hours.
- If there’s an overly chatty colleague who keeps distracting you, why not try wearing headphones?
- Or, if you struggle to stay motivated on a Friday afternoon, prepare in advance and ensure that all-important tasks get completed ahead of time.
7. Prioritise bookkeeping
“A stitch in time saves nine” – that’s especially true when it comes to bookkeeping. If you put your books on the back burner now, you’ll certainly pay for it later. Fixing bookkeeping mistakes and trying to fill in the gaps is a real-time vacuum. Make bookkeeping a priority and take the “little and often” approach. It’s worth investing in an online bookkeeping software program to help you, such as QuickBooks or Xero.
You budget your money carefully, so be sure to take the same approach to your time. Careful time management makes each hour go further, giving you more opportunities to focus on what matters to you. Effective time management has the added benefit of reducing your stress levels and staying focused, which has a positive impact on your personal life and your business.