One of the most valuable assets for entrepreneurs is time. Because you never have longer than 24 hour days, it becomes imperative to plan your time wisely so that you can make the most of this limited resource. Here are some time management tips to help you accomplish this.
Audit Your Time
To get you started in proper time management, conduct an audit of how you currently spend time. Rate what you do every day on a scale of the things that take top priority and you absolutely must do yourself, the things that need to get done but not necessarily by you personally, and the things that are not of primary importance and can be put off until later. If you are spending more time on things that you should do or that would be nice to do rather than the things that you must do, you need to restructure your time usage.
Make and Keep Schedules
Because your time is so valuable, you should schedule it as carefully as you allocate money resources. Keep a calendar, and set aside blocks of time for everything that you need to accomplish. Prioritize the tasks that need to get done, and say no to unnecessary distractions. Besides important work projects and business meetings, be sure to schedule reenergizing slack time for yourself when you can relax, unwind, eat a snack, read a book, or take a nap.
Focus Your Efforts
Make the most of your scheduled work time by focusing your attention on one task at a time. Don’t attempt to multitask, but rather give whatever you are doing your full concentration. If you find it difficult to get started, follow the two-minute rule. Work on a task for two minutes, and you’ll almost always find that you become absorbed in it and see it through to completion.
As a business owner, it’s your responsibility to see that everything gets done. However, you don’t need to do it all personally. Delegate whatever you can to employees. Additionally, use technology to automate mundane tasks.
For more advice on time management for small businesses, contact IRC Commercial Lending.