Time management for business owners

When speaking with my clients they are constantly telling me that time management is one of the most difficult tasks when it comes to running their business. However, having an efficient business and a good work/life balance doesn’t happen by accident! Sometimes you need to take a step back and implement some sort of time management plan into your business so you can be better at what you do while also spending more time doing what you enjoy, and we all need that all-important time to do what we love.

How can you develop and maintain good time management skills?

It’s a continual process that can take time and requires you to be a little proactive.

To begin with, take a step back and do a self-assessment to help you achieve your time management goals. Ask yourself questions like…

  1. What are my strengths and weaknesses in managing time?
  2. What will motivate me to implement new time management strategies?

Once you have identified these try to come up with a time management plan to suit your style of working. For example, do you work better in the morning or later in the day? Organise your day accordingly. Don’t let slip-ups throw you off course – recognise you’ve faltered and get back to your time management plan and most importantly of all… Let go of perfectionism.

Follow the 80/20 rule

Good time management requires how the 80/20 rule can impact you. The 80/20 Rule or Pareto principle, states that the relationship between input and output is rarely, if ever, balanced. When applied to good time management, it means that approximately 20 per cent of your efforts produce 80 per cent of your results. Learning how to recognise and then focussing on that 20 per cent is the key to making the most effective use of your time.

Helpful time management tips

Finally, consider some of these well – known tips (we know about them but how many of us apply them?!):

  • Understanding the difference between urgent and important tasks.
  • Make a ‘To-Do List’ at the end of each day for the following day.
  • Set SMART (Specific, Measurable, Achievable, Realistic, Timely) goals.
  • Prioritise the tasks.
  • Block out times in your diary to do specific tasks.
  • Don’t procrastinate.
  • Learn to control your email, voice mail and social media – come up with boundaries and rules regarding them.
  • Don’t try to multi-task. It’s better to finish one job before moving to the next. Generally, people are not very good at multitasking because it takes our brains time to refocus.
  • Learn the skill of delegation – this includes training those you delegate to meet your standards

Time is your most valuable asset. You can’t get it back once it’s gone, and you can’t create more from this air.

Read more: Time management working from home

Does this resonate with you? If you would like to book a complimentary, no-obligation, coaching session to discuss this further, please email me at falgunidesai@actioncoach.com