As a small business owner, time is your greatest asset. You can lose money and get it back, but keep in mind that time is irretrievable. That is why you have to protect it.
Protect your time now by following these tips!
1. Start with a time tracker
Create a to-do list before doing anything else .Track and list your tasks, total amount of time spent, and then categorize all of your activities. Do some basic calculations to determine the percentage of time you spend on each activity and find the areas where you are spending way too. Do this daily and be sure you are measuring what you would consider a “typical” workday for you.
2. Apply the 80/20 rule.
One effective way to determine where you should spend more time is the 80/20 rule. It means 80% of your results come from 20% of your efforts. Effective time management is to increase the amount of time you spend each day and week in that 20% category where you’re going to get the greatest results in your business.
3. Delegate task to right people
An effective small business owner means relying on other people to get all of the work done. The key thing about delegation is that you need to avoid giving employees responsibilities without effectively preparing and training them for the task. This is huge! Part of making this work is hiring the right people, but it also requires investing time training them.
4. Beware of shiny object syndrome.
Do everything you can to avoid being pulled under by “shiny object syndrome” in your business. Shiny objects will pop up from time-to-time and they will do everything to distract you from what you are trying to achieve now. New opportunities are good, but be sure they don’t become bad.
Spend your time wisely and be productive at all times!