Time is one of the most valuable assets for small business owners and poor time management can negatively impact a company’s work output and revenues. Missed deadlines, financial losses, stressed relationships and job loss are all potential outcomes of poor time-management skills. Below are some tips on how small businesses owners can manage their time better.
Identify your big time wasters – When you complete a time log for a few days you will be able to see where you are wasting a lot of time. The goal here is to find the areas where you’re spending way too much time. Categories to consider are Email, Phone Calls, Meetings, Breaks, Errands, and other nonproductive tasks.
Delegate – The key thing about delegation is to avoid “abdicating”, you need to avoid giving employees responsibilities without effectively preparing and training them for the task. The main of making this work is to hire the right people, but it also requires investing time training them.
Organise Your Space – A cluttered office or desk makes it more difficult to work effectively, and that makes for wasted time. When your work space is organised, it leads to an organised mental space and it enables you to work more efficiently. Colour-coded file folders, designated incoming and outgoing piles, and similar tactics are examples of how you can organise your work space better.
Don’t Multitask – Focusing on one task at a time increases productivity and performance. Multitasking might seem like a smart way to save time by cramming as much work as possible into a short amount of time, but it is doing more harm than good and it will only increase your stress levels.
Set a time limit to complete a task – Setting time constraints for completing tasks helps you be more focused and efficient. Making the small extra effort to decide on how much time you need to allot for each task can also help you recognise potential problems before they arise.
Remove non-essential tasks – Determine what is significant and what deserves your time. Removing non-essential tasks frees up more of your time that can be spent on genuinely important things.
Plan ahead – Make sure you start every day with a clear idea of what you need to do and what deadlines you have for that day. At the end of each workday write out your “to-do” list for the next workday.