The old adage says “Time is Money” and this is especially true for today’s entrepreneur. You need to be able to manage your team, run your business, and chart your business’s future. In a previous post we have covered the basics of time management but in today’s fast-paced start up the economy, as your Small Business grows you will need to optimize your time management skills further. Here are a couple of tips that will allow your time management to become more effective:
Begin by Recording Your Schedule. This will allow you to determine exactly how you spend your day and week. Following this exercise, it’s time to trim the fat and examine what activities are mundane and can be discarded and what really drives the core and growth of your business.
• Be Effective and Efficient:
Figure out what is your most effective time of working and try to discover if you can increase the efficiency of certain tasks and time slots
• Create Time Blocks:
As the Small Business owners, there will be many tasks, people and issues clamoring for your attention. It is important that you are not constantly bogged down by deadlines but rather create time blocks where you deal with certain areas of your business- either by department or prioritized needs
• Plan Your Day:
You might feel that as soon as you reach the office you are launched into the thick of things. To manage your day better, you will need to take some time out at start of the day and see what the day has in store for you. Then plan your tasks and meeting in order of priority.
• Block out Distractions:
While your phone and email account might be the lifeline of your business, in certain situations, it is important to block them out. This will give you the time and space to ideate, create new strategies and lead your team in a more effective manner.
Good communication is the backbone of any successful organization. Ensure that your team is on the same page as you. Take the time out to find out how they are progressing, if they have hit any road blocks and how you can help them, as a leader. Also. keep them abreast of any developments in your business’s pipeline. This will help them plan and allocate time better, which will overall improve the productivity of your business.
• Delegate: Let your team support you and take the lead on certain tasks. As the business owner you cannot be everywhere at once and as your business grows delegation becomes key. It is important that you build a team that you can trust and that you are prepared to handover tasks you once solely handled. Remember to also appreciate your teams’ efforts and give credit and recognition where its due.
• Don’t Waste Time: As the Small Business Owner, the team looks to you for leadership and it is important that you lead by example. If you take many coffee breaks or spend a lot of time on social media like Facebook or YouTube, your employees are likely to do the same. It is important that you cultivate a relaxed but focused atmosphere in your work place. Follow these simple tips and you will be on your way to managing your time and your business more efficiently and effectively.