Time is the key when starting a business. You’ll always feel like you are running out of time or the days are just passing by. You can tackle this with effective time management. The most successful business owners have overcome and reached heights with effective time management.
Below we mention time management tips to save those extra hours while completing your work and achieving your goals.
1. Time logging
Grab a piece of paper and note down the ideal schedule that enables you to reach the goal of the day. Note down all the activities from the time you wake up to the time you hit the bed. The job is to track every minute of the day. By tracking your time, you get a real picture of where you are spending most of your time and can allow you to re-prioritize necessary tasks.
2. Recognize your time-wasters
After tracking and logging your day, take a look at your schedule and identify where you are wasting time. Categorize all your activities of the day, for example; Phone calls, meetings, breaks, errands, and non-productive tasks.
Calculate and determine the percentage of time spent on each activity. You’ll get clarity on how to cut off time-wasting tasks and put more emphasis on significant tasks. Your aim is to recognize the areas where you spend the most time.
3. Develop new strategies
If you aren’t seeing any growth with your current style of work, then maybe you should try new strategies and establish new habits.
Try one of these approaches:
● The Pomodoro technique: This method was named after a tomato-shaped-timer used by the system’s founder. The key to this technique is to use micro-breaks to refresh and get back to work. This technique is a popular time management tactic that involves setting a timer for 25 minutes of work sprints accompanied by a 5 minute break. After four rounds, you can reward yourself with a longer break. This technique is used by people who find it difficult to focus on their work time or send up taking too much break time. With a shorter duration of work times and constant breaks, your work won’t exhaust you, and you can get back to work feeling refreshed.
● Mind Mapping: As a business owner, you must have countless ideas clouding your head. With mind mapping, you can organize and put your concepts on paper in a visual form, which is based on the way you see your concept and your goal on how to execute the idea. With this method, your concepts are documented and organized in an easy-to-comprehend, pictorial overview of conceptual goals along with the steps needed to accomplish them.
4. Use the 80/20 rule
With the 80/20 rule, you can determine where you should spend more time. According to the 80/20 rule, 20% of your efforts give you 80% of results. The key in effective time-management is to raise the amount of time you spend each day and each week in the 20% category where you will get the most prominent results in your business. This is a process where you have to keep using the method every week to have a precise idea of where you can get the most out of your minutes.
5. Learn to say no
Once you build your business, you might receive a lot of vague requests and messages through LinkedIn or mail that might not help your business in any way.
People might contact you for advice, introductions to other entrepreneurs, and many other favors. Although it’s okay to build business relationships with others and help them, learn to say no when there isn’t time to help. Prioritize your work over helping others. This can be done politely and honestly without burning any bridges.
Not all opportunities will provide growth, and not all investors will be advantageous for you. Gauge your time and focus your time on the areas that offer promising benefits in the long run.
6. Recognize your distractions
As a business owner, you may have a lot of tempting ideas and plans. Don’t jump at these tempting ideas and know that some of these ideas might not be related to your business or your business motives in any way. These ideas can distract you from your primary goals. If it does not directly assist you with achieving your primary business purpose, then it is a clear distraction. Eliminate any activity that does not contribute to the growth of your business. Focus on the development first and keep the side projects for later.
7. Say no to multitasking.
Focus on each task and don’t resort to multitasking. When working on a task devote yourself completely and don’t shift your focus from it. You are more likely to get things done early when you focus on them completely than handling multiple tasks and losing your precious time.
8. Prioritize the most important things
Get done with the most important things first, and don’t procrastinate them for later. Generally, the majority of people are more productive in the mornings. Chaos and dysfunction may increase as your day goes on and as a result, it is important that you finish your most important tasks before you start dysfunctioning or losing focus. It is advised to wake up early and utilize the morning productivity period or your peak energy time.
These were the 8 best time management tips to become a successful business owner. In the second part of this article, we’ll discuss other 8 tips. So stay tuned.