8 Important Time Management Tips for Business Owners
Running a company requires discipline and therefore time management for business
becomes critical for being successful. A business owner wants to do a lot of things for e.g. schedule meetings, prepare budgets, strategize marketing and sales & even networking. How can he pack in so much? Here are 8 easy time management tips
that will help business owners plan their workflow.1. Prepare a Schedule
- Entrepreneurs are busy individuals; hence time management for business becomes essential
- Prepare a day-to-day schedule of what needs to be done when and try and stick to it!
- This can be done in the way of maintaining a pocket notebook or use online tolls to help you make a schedule. Google calendar can be of great for this
- Business owners have to realize that they don’t need to do everything themselves. Outsourcing non-core work is an efficient way of time management for business
- For e.g. Don’t take administrative work in your hands, outsource it to other professionals. If there are tasks that can be outsourced to freelancers, explore that option as well
- Distractions can impact our work schedule in a negative way. Hence prioritize and learn to say ’No’ to things that are unimportant for the business and can be done later
- At the end of each workday, write down the six most important things you need to accomplish tomorrow and review how much you could achieve
- This will help you to know which tasks are on the utmost priority list for the next day
- Technology is an enabler when it comes to time management for businesses. Use remote software and apps that can help you with other functions of the business
- Your monthly bill payments can be automated
- Use a time tracking app like Time Doctor to avoid losing out on important things to do
- Highly sophisticated marketing campaign tools can be set up
5. 80/20 Principle for Time Management
Being a business owner you have to learn about the 80/20 rule which implies that 80% of your tasks should be done with 20% of your time. This makes time management for business highly efficient- Delegate tasks that are time-consuming and perhaps less revenue-generating to others
- Prioritize in a way that you complete your most important tasks that time of the day when your mind and body are highly productive
- Avoid Time wasters!
- These could be colleagues, family & friends or even social media engagement like Facebook and Whatsapp chats
- The point is not to discourage you to unwind but avoid these unnecessary distractions during your most productive hours
- When we talk about tips for time management for business owners, it does not mean to manage only your work life, take some time to relax the mind
- During scheduling tasks for the day do keep a window for some sort of activity that help you energize and channelizes your brain
8. Learn to Multitask
- The skill of multitasking can help in better time management provided you don’t get confused
- Multitasking is a skill that will help you succeed not only at work but also in life
- You can group similar tasks. For e.g. if you want to contact suppliers and vendors, see if it can be grouped together
- Try and achieve your tasks by dividing it into smaller segments and then setting a time frame. This can help in faster task completion and better time management for your business