Time Management Tips for Business Owners
A full time business is a challenging project that requires tremendous commitment in energy and time. Business men regret spending a very small amount of quality time with their family members because of a jam packed rigorous schedule at work. An aggressive business man ignores a number of urgencies in life to go to an urgent department meeting and still is unable to perform to the best of the ability. A larger number of hours in a day are needed to balance the business and family needs. The day starts with a flurry of activity and ends with unaccomplished tasks. A person ends up undertaking many different jobs during the day without the desired output. Time bandits steal time and a track of the daily activities is lost.
A systematic, efficient utilization of time helps in cutting back the wasted hours put in. Effective time management is gaining the extra minutes ignored everyday due to haphazard planning. Valuable time can be organized with time management. The focused activities can be completed within the stipulated time with well thought-out efforts.
There is no magic formula that can add to the hours in a day. Life poses hundreds of challenges that need attention daily. By utilizing, time management tools and tips, the task of harmonizing home and work can be made easier. Time is a valuable asset and once lost can never be retained. Time management is all about goals and their achievement.
Goals need to be set in time management. The goals should be formally recorded and an action plan formatted. Follow up the goals and check if the time set has been adhered to. In order to maximize time management the following principals can be broadly stated and should be kept in mind:
Appoint low-skill workers
Unskilled work does not need the attention of the business head. Every day jobs like filing, cleaning, and running errands can be performed by less skilful people. Cash can be paid to these helpers and they can assist in saving the most valuable resource- time. Time devoted by the business head, can be then focused in other income creating propositions like marketing, sales, management and networking. Lower skill jobs also have trained personnel who perform these tasks to perfection so they should be brought on board.
Chalk out a daily schedule
Plan and write the next day’s schedule on paper. The effort should be in trying to complete these tasks in succession the next morning. Make a to-do list and write all that has to be done the next day. Do not leave anything undone according to the list prepared. The list should have the priorities clearly stated.
In a business house there are problems that can crop up just anytime. Priority list consists of the tasks that have to be accomplished first. Make deadlines for them and be focused to have them done in the stipulated time available. This way the most important tasks will not be neglected and completed on time. Keep marking the jobs that have been attended to. The remaining other incomplete works can be highlighted and attacked with a frenzy.
Select the productive high periods
People work according to their own capacity. At times one is charged for work, and at other times no amount of effort put in, renders results .So attack the work only when there is a desire to bring about a change. Devote the attention to more routine activities in such a case. Work only when in the frame of mind to take up a project. Some people are at their best at the crack of dawn and others the best late in the evening. Skip the routine activities at times of serious project planning. Wait for the drive to dish out a more challenging performance. Trying to focus and tackle tricky deals in a less productive phase is a waste of time and energy.
Use the timer to measure the time utilized in carrying out the daily activities. Mark time taken for each activity performed everyday .Record and measure the time taken for these daily routine activities. To manage time you need to measure it first. This activity in the long run will highlight how much of time is lost in unproductive meetings and useless doings. Many activities that are undertaken daily out of habit can be delegated to other people.
Minimize actions wasting productive time
Activities like personally taking calls, response to email queries, meeting sales persons and untimed meetings draw the attention of the business heads unnecessarily .Leaving an important discussion, for reading and responding to emails reduces output. A time should be fixed for answering mails and sending responses to business queries. Staff can be delegated the task of taking a phone call, interacting with sales persons, and other marketing personnel. Social media accounts should be left alone when undertaking urgent business deals.
Some business functions of a similar capacity need not be undertaken daily by the business head. An organized compilation of certain business functions can be dealt with on a weekly basis, or after business hours for a short while. Self behavior needs to be molded for effective time control. One needs to get rid of personal time wasters like personal phone calls on direct phone while working.
Time the meetings
Meetings should be prepared beforehand and carried out according to a time line. Prevent social get together in the conference rooms. Deal with each item in the agenda for a concise time. Mark the time to be given to each topic and save minutes.
Entrust tasks to suitable staff members
Delegate work tasks to others to lighten the load on self. Focus the talents where they are needed more. Staff should be handed out responsibility to look after insignificant cash, accounting, cleaning, product marketing, product development, quality control, correspondence and sale activities.
Valuable time can be then focused towards the development of the business rather than the small time jobs. A formal list should be prepared for delegating the people to the targeted task and the staff informed of their duties. An employee who wants to learn more will gladly opt for this responsibility. The time saved in this way can be used in strategic planning for other activities.
Focus at technology
For efficient activity the staff needs the right tools and trained persons to do the job. Computerized Technology can make things easier and much faster. One should get rid of the outdated modes of maintaining data by putting the registers and papers aside. Productivity is greatly enhanced venturing into technology. Keeping in mind the cash involved one can go hi-tech. Tools on advanced know how can prove to be benefiting the business growth .Investing money in software’s helps save time and effort .Technology helps in increasing the staff productivity manifold and also helps in cost cutting .
Being orderly is the keyword
An orderly approach in work place is the keyword to saving time and money. Time should not be wasted looking out for important papers, documents or accounts. Efficient business techniques applied through computers, or an organized filing system saves a lot of time. Customized thank you replies, inquiry replies, basic sales question answers, and template responses need to be prepared for general matters. One can create a website with frequently asked questions to impart detailed knowledge of the product to people.
Health is wealth
Do not sacrifice sleep, rest, diet or exercise for the sake of business development. A tired and bored mind cannot conjure up innovative ideas. It is a mutually profitable relationship – a good body and a good mind A brain can’t perform if it is deprived of blood and nutrients. Working longer hours but not at the maximum potential is a failed effort at good performance. A healthy body with a healthy mind can help business leap and bounds.
Don’t forget to have fun
One needs to escape from the rigmarole of tedious tasks. All work and no play make Jack a dull boy. Do not sacrifice small pleasures in life thinking business is the only life. One needs to have an escape from the constant stress due to business and work. Watch TV, jog, exercise, walk etc perform any activity everyday to ease off the mental pressure. Set a time limit for the leisure period by being honest about it . A break from the schedule is a great stress buster and a must to stay mentally fit.
Time management is to be able to control time effectively. Conscious control is exercised over time spent in business activities, for furthering business development. For a person to be really happy time has to be devoted to leisure activities and family as well. Time management can be enhanced with the help of authority delegation, setting goals, technology, time analysis, and prioritization of activities. Effective time management helps in completing the project on time and to perfection.