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A small business owner’s time is precious. Here’s how to make the most of it.
When running a small business, you’re at the center of everything. You juggle meeting client deadlines, handling finances and leading your team. It might often seem like there’s no end to your to-do list. Time is priceless and managing it well is a crucial skill for you, especially as a small business owner. There’s no perfect formula for mastering time management, but you can always develop habits that align with your schedule and work rhythm.
Here are eight practical time-management strategies that will empower you to boost productivity, make wiser choices, and shift your focus to the expansion and success of your business.
If you feel like there are never enough hours in the day, these tips can help you better manage your time.
An organized workspace and a clear work plan can vastly improve your productivity. “A cluttered space leads to a cluttered mind,” said Jen Herrmann, content creator and marketing strategist at The Strategy Studio. “When my environment is physically organized, I stay more focused and less distracted.”
If your workspace is chaotic, it’s easy to get overwhelmed and have your workflow disrupted. Take these simple steps to streamline efficiency:
By following these simple suggestions, you can overcome the clutter — both tangible and intangible — that may be hindering your effectiveness and direct your effort more productively toward achieving your business goals.
If you have a smartphone, turn it into your ultimate small business tool with apps designed to help you take charge of your schedule and workflow. With so many productivity apps available, though, it’s important to make sure you’re choosing the right one.
“The biggest factor one should look for when searching for a productivity app is, ‘Does it fit what I need?’” advised Krissy Metzler, executive function coach and co-founder of The Goalden System. “There are so many wonderful apps out there, but that doesn’t mean that each and every one of them are conducive to your unique needs.”
Metzler recommended asking a few questions before researching productivity apps and their many features. Asking yourself questions like “What am I hoping to use this app for?” and “What are the top three features I want to see in the app?” is helpful. She also emphasized finding an app that provides the personal user experience you’re looking for, whether you want something colorful and interactive, or simple and straightforward.
If you need some suggestions to get started after answering these questions, here are some excellent and widely used time- and task-management apps:
When you’re starting out, it’s natural to take on anything and everything to do with your business. You’re likely accustomed to learning on the job and have picked up marketing skills, accounting skills and other abilities required to run your organization.
However, as your time becomes more precious, delegating becomes crucial. Learning to outsource some tasks or assign projects to employees, gives you the freedom to pursue growth opportunities. For example, Metzler noted that individuals often struggle to delegate team training. “Individuals [who] don’t want to walk another team member through the process, so they prefer to handle it themselves,” she said. “There are many amazing websites that will help you create a quick, easy-to-use training video that can help team members in the future. It’s important to remember that setting yourself up for success may involve developing ways to delegate tasks to other team members.”
First, decide what tasks you’d like to offload. Pinpoint tasks you typically procrastinate on to determine who could better handle the job. If you don’t have a staff ready to pitch in, find independent contractors or freelancers specializing in that area who can work on an as-needed basis.
Reach out to your professional network and get referrals to find trustworthy people who can do the job. A delegated task is only successful if it gets done properly, so hire carefully and enforce deadlines.
Handling finances can take a great deal of time and cause massive stress. Implementing an accounting system early on will help you stay organized, which will save you time later.
If you don’t already have accounting software in place, consider one of the best accounting solutions to get you on the right accounting and bookkeeping path.
These are a few to consider:
If you’re a solopreneur, it’s up to you to keep yourself motivated and stay focused on your work.
“Distractions are productivity killers, and in today’s world, they’re everywhere,” said Herrmann. “To stay on track, my phone stays on ‘Do Not Disturb,’ except for my immediate family and kids’ schools. I avoid social media during work hours, only taking scheduled breaks. I check and respond to emails just three times a day — morning, afternoon and before wrapping up. [And] I always write down my top three priorities for the next day before I log off, so I start each morning with a clear focus.”
There’s no one else to make sure you’re working hard or keeping on top of things. Here are some additional tips to help you limit distractions and remain productive:
The 80/20 rule states that 80 percent of your results come from 20 percent of your effort — and vice versa. Identify the 20 percent of your tasks that result in the most “bang for the buck” and concentrate on them. Delegate or spend less time on the rest.
For instance, if you spend a large chunk of your time on the phone, ask people to email you rather than call. Some customers or employees are high maintenance, taking up more than their share of time with complaints or drama. Consider letting these time-wasters go.
“The 80/20 rule for me means prioritizing high-impact tasks that drive results and letting go of the small stuff that doesn’t move the needle,” said Herrmann. “Especially owning your own business, you have to learn to let go because it often feels like everything is on fire. I often ask myself, ‘Will this move the [needle] right now? Is it part of my short-term goals? Can I make a bigger impact if I do it later (and when is later?).’ This mindset shift has been a game-changer in how I structure my day.”
While multitasking may seem like a great way to get everything done, it’s ineffective because the brain takes a little while to refocus attention, making you less productive and more error-prone. “Multitasking is not actually a thing your brain can do,” said Metzler. “Many people believe that they can do two things at once, but the reality is that your brain is switching between those tasks and tiring itself out.”
Concentrate on one thing at a time, and organize your day that way. For example, you could focus on answering emails first thing in the morning to get that out of the way, and select another block of time to return phone calls. Once finished with a task on your list, move on to the next one. Metzler noted this strategy is best for maximum efficiency.
“Time blocking is a wonderful way to ensure that you have dedicated time to complete specific tasks,” she said. “For example, if you plan to work on a slide deck from 3 p.m. to 4:30 p.m. and an email comes in about it at 11 a.m., you know that you are going to have time to review it at 3 p.m. By not switching between the task at hand and the new email that came in, your brain is less likely to become distracted and, ultimately, exhausted.”
Working nonstop can tire you out, both mentally and physically. It can dim your creativity and reduce your knack for problem-solving. You’ll often hear business owners sharing how their best ideas were sparked when they were taking a relaxing stroll, enjoying a refreshing shower or just chilling out.
Giving yourself some downtime helps your unconscious mind sift through various data and cook up innovative solutions. This doesn’t just mean going on a break, though that’s a great start. Make some time for family and friends, dive into a hobby, step out and get moving, or explore a fun book. It’s about balancing work with relaxation. Harness these moments of peace to help your business shine.
Here are several key reasons why time management is crucial when you’re running a business:
Natalie Hamingson and Meredith Wood contributed to this article.