Last Updated on August 24, 2020
Effective time management is necessary if you run a business. You can’t grow and scale a company without it. Operating a business is an intellectual exercise that involves many variables, such as planning, networking, strategy, sales, marketing, and more. While there are tons of time management tips online and in books, you have to try many of them to find your zone. That takes time, but eventually, you’ll find that your time management skills improve, which is invaluable.
Here are some of the most important time management tips for entrepreneurs.
1. Balance the Details and Big Picture
Entrepreneurs need to focus on both the big picture and details. Big picture thinking involves looking at your organization as a whole and devising ways to improve operations. Focusing on the details consists of making sure things get done so the company can thrive.
The problem is that it’s tough to focus on both at the same time. And if you’re not careful, much time will be wasted doing the wrong things. So to manage your time in this regard, you should set aside some time for big picture thinking, and devote the rest of your time to the details.
For example, you can schedule three hours a month to create, modify, or revise your content marketing strategy (big picture thinking) as needed. Once that’s done, focus on the details to make sure everything is implemented. It would be best if you spent more time on the details because that ensures things move forward. A marketing strategy can’t help a business if it isn’t implemented.
2. Set Specific Goals
Every business owner knows that they should set objectives to work towards; however, you need to set specific goals. Otherwise, you may spend time doing the wrong things, and feel frustrated when a goal is unreachable. By setting specific goals, you’ll know your efforts are bringing progress.
Here are some examples of specific goals.
- Publish two relevant articles per week on the company blog by working with a content specialist.
- Lose 20 pounds in two weeks by running outside for 45 minutes every day and watching food intake.
Specific goals help us focus, ensuring our time is used effectively. Furthermore, be realistic with what you are capable of getting done. Set small objectives and work hard towards them. Base the process of setting goals on your capabilities and available resource.
3. Pay Attention to Time
Track the time you spend on tasks using software like Kronos Time Tracker. The software can track all the time you spend on each application or website. You can also find and use a similar app on your smartphone if you barely work with a computer. There are several to pick from on the App Store or Google Play, and they’re free.
Time tracking apps help us pay attention to how our time is being spent during the day. As a result, you can significantly reduce time wastage and increase productivity.
4. Ask a Simple Question
“Am I making the best use of my time?” When working on anything, always ask yourself that question. Doing so is one of the best time management tips on our list.
It’s essential to make sure you’re productive to maximize business opportunities. You’re productive when you have enough time to accomplish each task without spending more.
When you have a firm grasp on what you need to do, time won’t be wasted. However, if you don’t understand the task, it’ll naturally take longer. That’s why it’s better to hire experts whenever possible. For instance, if your time is worth $400 per hour, you’re better off hiring a web developer to maintain your website for $150 per hour.
Don’t waste your time learning things you can delegate.
5. Schedule Time for Yourself
Scheduling time for yourself is crucial. It gives your brain the chance to reboot or rest, which can improve concentration. We’re more productive when we can concentrate, and can make better decisions with a well-rested brain.
So set aside time to do things for yourself. Things like reading books, listening to your favourite audio or video course, ideation, or do something else you like to do. If you don’t have time for yourself, you need to get help by hiring an employee, freelancer, or agency.
Practice These Time Management Tips
You may have to work hard to upgrade your time management skills, but it will pay off. Time management is a critical skill for a person’s success in life and business. So practice these time management tips. Balance the details and the big picture, set specific goals, and pay attention to how your time is spent. Assess each activity to make sure your time is being used wisely and make time for yourself regularly.
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