time management tips for business owners

Time Management Tips for Business Owners

Share

As a business owner, there are lots of pressures that you face every day and there is never enough time to get all tasks done. However, having a big business does not mean you have to work all hours. In fact, the more successful your business is, the more stress-relieved you should be.

How good is your ability when it comes to arranging available activities and resources to achieve a particular goal for your business in a particular space of time? When I started my entrepreneurship journey, I got so busy to an extent that I wished that there were 50 hours in a day. Even if there were, without proper time management, those 50 hours won’t still be enough.

As time went by I came to realize all I needed to do for my business was to work with the finite time I have and finding ways to make the most of it.

Are you planning of starting your own business and don’t know where to start from? Read these 6 steps to start your business from scratch!

Know your goals and identify their priorities

The first and most important step in time management as a business owner is to identify what your goals and priorities are. Before you move into action, it’s important to pull back and ask, “In this situation, what end result would be the greatest impact in the business?”

After a variety of answers, examine each and write down the benefits. In addition to looking at the benefits, it is important to look at the downsides of each end result and move into actions with the most favorable ones. You could spend days looking at the pluses and minuses of each goal. If possible, make a list, sleep on it, show it to a few people to hear their input, and make your decision. The key is to consciously decide why you have selected one desired result over another.

Plan your work

In any business organization, planning is a very crucial thing to do.

Having known your goals and set priorities, it’s time to plan. Planning simply means setting up of targets or objectives. These are the means of measuring your business ’s actual performance and it provides a means of improving on past performance.

Having time to plan your business activities is one effective way to manage time for every business owner. This planning has to do with setting objectives and developing a course of action to accomplish the business objectives.

Planning does not only take account of the activities that go on in a business venture, but it also has to do with the people and physical resources to carry out the plans and accomplish organizational objectives.

And finally, there is also a need to plan your time if you want to be more productive in your business life. A time plan enables you to take an overview of the entire day or duration you wish to target and it focuses on the list of activities to be done, an estimated amount of time to accomplish each task, compare the total estimated time for entire tasks listed and determine the exact time when each job will be accomplished.

Use Automation Software

Time management can be easier when you have to employ tools and resources. There are many and many more automation software that helps your business save a bunch of time. Think of the tasks you need to accomplish especially when it comes to social media

When you have a business, it is important to have the right business tools – this does not only save your time but increase your productivity.

Some of these tools are:

  • Tailwind: An amazing resource to use to schedule your Instagram and Pinterest posts. It lets you schedule your posts for as long as you want. If you need to manage time for your business, take a look at this resource.
  • TimeTrade: An online appointment schedule tool to schedule all your appointments.

Read the 40+ list of tools and resources that can grow your business and also 29 tools for smart entrepreneurs.

Use a Planner

Time management begins with the use of a planner with daily lists and taking the time to write down everything that you must do for your business growth. Having scheduled all the things you must do, it’s super important to stick to the schedule – this will give you an idea where your real priorities are.

Delegate Tasks

Delegation is an important skill when it comes to time management for business owners. Limit your involvement in all activities and work only on things that you should use your time on.

Ask yourself “Who else can do this task?” (Maybe not as well as you would do it, but acceptably). Ask “What task can I share with other people?” Learn to ask for help – it will save your business a lot.

It is a very wrong notion to say “If you want a task performed, you better get it done yourself”. This can be true in other aspects of life but not applicable when it comes to business.

Delegating tasks is one of the best things that you can do as a business owner to save time. In this way, you only get yourself in tasks that you must do. This does not mean that you are no longer involved – you are, but to an extent and thereby saving time.

However;

  • Tasks that are above the skill level of an employee should not be delegated to such a person.
  • Critical tasks should only be assigned to people you are sure can handle them successfully.

Minimize Distractions

Time management is about using the time you already have more efficiently. Isolate yourself from distractions so you can accomplish twice the amount of work in the same amount of time.

Techniques in dealing with Distractions

  • Write down all the tasks  you have to get done
  • Set priorities for each task:  Be realistic when it comes to assigning priorities to your tasks
  • Follow your priority list orderly: The trick to keeping calm and balanced is simple: forget about all complex planning. Don’t even think about other tasks until all those that come first are done. If a new task arises, make a new list and reallocate the task according to their level of importance.

Prioritize Tasks

Rank your responsibilities and develop a sense of which tasks are most important and concentrate your efforts there. Prioritize tasks in order of:

  • Importance: Although all things are important in a business venture, not all have equal priority. It’s not possible to do everything at once, so spend most of your time on the most important things or tasks and skimp on time.
  • Involvement: Delegate tasks
  • Standard: Do all you need to do at an acceptable standard. You can save your business a bunch of time doing things well enough – this way; you don’t have to redo it.
  • Urgency: Urgency determines when things are done. Do things that are urgent first.

As a business owner, your customers are always expecting more from you and your business when it comes to interaction. These people want to be sure they are talking to a human and not just some machine. So it’s extremely important that you talk to them in a more human and friendly way. Check Small Business Administration’s effective methods to prioritize your work.

Tips when making a schedule

  • Be specific in your planning and set realistic business goals
  • Be reasonable – Schedule what you think you can do
  • Take advantage of all your time
  • Be flexible and don’t forget to schedule breaks – Making rigid plans that restrict and prevents you from being flexible may result in inefficiency and boringness of work.
  • Schedule difficult tasks for your most alert periods

Conclusion It is as well very important to keep track of your progress when all of the above tips have been applied. After a period (weekly or monthly) take 15 – 20 minutes to go through the week/month items. Mark all tasks that have been done successfully, identify those that you can remove: by delegating them, automating rather than your time and attention, or creating a routine for handling them.

Share

1 thought on “Time Management Tips for Business Owners”

  1. Omofoma,

    These are excellent time management tips & strategies! I started using Tailwind more recently to grow my Instagram account. I’ve never heard of TimeTrade so thanks for sharing that. I currently use Calendly to schedule appointments and interviews, but I will look into TimeTrade to see if it’s a good fit. Thanks for sharing these actionable tips!

    -Jessica Dukharan

Leave a Comment

Your email address will not be published. Required fields are marked *

Shares