Time, like money, is part of the essential resources for an enterprise. Time is precious, and the phrase time is money illustrates the situation of most business owners. After all, entrepreneurs have only 24 hours a day, so the way they manage their time and the speed in which they drive their Lexus IS 250 to work is paramount. Entrepreneurs have plenty of options to control time and improve their productivity. When these strategies are put into practice, they can help entrepreneurs utilize their hours, provide measurable results, and hopefully earn more money.
Set Specific Start and End Times
Entrepreneurs can use start times, end times, and durations to define their schedule. Creating a to-do list is no longer enough in time management. Instead, business owners might need to determine how much time to allocate to a specific task, when they’re to do it, and what they will do with the time. You want to be clear about what you will do and what you can’t. Entrepreneurs that aren’t sure about how long a task will take to complete can overestimate their schedule. That way, they can move to another job if they complete a task early enough.
Monitor Your Productivity Curve
Business owners should schedule their tasks at the appropriate time based on their productivity curve. Of course, everyone has times of the day when they’re more active than others. You should delegate much of your time doing things that are valuable and critical and not mundane tasks. Marketers that are more productive in the morning hours should not start their day weeding through emails and social media notifications.
It’s crucial to stay away from people that often disrupt you while you’re in the midst of an urgent task. You also need to have control over self-induced interruptions such as social media. While smartphones are a useful gadget, they’re addictive and rank as one of the insidious time-wasters. It may take time for an entrepreneur to get used to such a lifestyle. However, switching off their phone and keeping it a distance from their desk can help maximize their time. You can schedule breaks to talk with staff, call people, and catch up on email.
Delegate More Tasks
Of course, you spent money to hire a talented and dedicated workforce that can help you handle some of your tasks. Anyone that wants to run a successful venture must learn to plan for what lies ahead, and they should not get mired in their routine operations. As such, entrepreneurs should look for opportunities to pass responsibilities to talented individuals in their team.
Business owners can use timesheet trackers to calculate the number of minutes they spend each week or month. These trackers can also help in clocking in and out of various projects or tasks. For example, entrepreneurs can track their time directly using a desktop or use TSheets to switch tasks or jobs with just a click. You can then use these timesheet trackers to generate real-time reports to see where their time was spent and where it went to waste.
One mistake that entrepreneurs often make is to get into the day without a plan of what needs to get done. The time a business owner spends planning and thinking ahead of their operations is trivial compared to the time they waste jumping from one task to another. Depending on the nature of the business, entrepreneurs can try to plan their schedule a night before. After that, take at least 10 minutes at the end of the day to compile a list of pressing tasks to handle the next day. That’s an excellent decompression technique that will ensure an entrepreneur always sit down at an organized desk every morning. Business owners can also opt to arrive at their offices a few minutes early so that they can compile their prioritized to-do list. You might also need to exercise and have enough sleep to stay active throughout the day. An alert mind is less tolerant of time-wasting tasks and is always high-functioning.