Time can be a small-business owner's best friend, or worst enemy. It all depends on how you use it.
There just never seem to be enough hours in the day to get things done. Time is extremely valuable to business owners, and if you bill for your time directly even more so. Wasting time can be extremely harmful to your bottom line and your sense of well being!
To operate efficiently, your business may need systems for managing time and keeping track of who's working on what and for how long, even if you're the only one working on your business, knowing what you're working on, how you're doing on that task and what's getting done is essential to deciding where to use your most valuable asset, your time.
I learned early on in my own business that accounting software wasn't just about taxes but about understanding from a "larger picture" how your business was doing financially.
Proper time management and tracking is equally important possibly more so for your business. If you have to stop and think when you ask yourself "what did I accomplish today" you're neither tracking your tasks well enough nor planning well enough for them. What will you do tomorrow?
Most successful small-business owners are also successful time managers. And they tend to share certain traits and strategies. One of the most basic time management devices ever invented is the simple "to-do" list. Each day, jot down all of the things that need to get done, all on one sheet of paper.
Simple right, well here's a trick I learned a long time ago, I call it To Do list 2.0, simply jot down the time you expect something to take you next to the item on the to do list so when you look at it next you can decide if you have time to complete that task or if you should move onto something else.
Granted, figuring out how long something will take you will be hard at first, but the real bonus here is after guesstimating a half dozen times at how long it will take you to "drop off mail" or "create invoice" or "do bank deposit" you'll have a much better idea at how long these things really take (much longer than you think!) and you'll start adjusting as needed, maybe even delegating items that don't create enough benefit for the time invested.
As tasks are completed, adjust for the approximate time used and cross them off. This can help you focus on getting them done one at a time, and also gives you a great sense of accomplishment.
Delegating more work can also help ease your time crunch. Many business owners accustomed to "doing it all" find this exceedingly difficult. But even if you are a sole operator, you can pass off tasks to others, via outsourcing, for example, to free up time for yourself.
Periodically analyze how time is spent at your business — and not just your time, but everyone's. Divide the day into small time blocks and record what you, or others, were doing in each block. Now compare this real use of time to your goals, expectations and mission priorities. If they do not align, you'll need to take action. One step might be to set clearer time-management goals for yourself and your employees.
Banish procrastination from your place of business. Growing, successful businesses don't put things off. Even a simple "no" response to something on your to-do list can extinguish that item and let you move on.
A variety of technology solutions are also helping small businesses track and manage time. Whether you're looking for assistance tracking, planning or making the most of your time The Technology Coach is here to help, give us a call or send us an email today and let us help you find a more efficient way of getting things done!
There just never seem to be enough hours in the day to get things done. Time is extremely valuable to business owners, and if you bill for your time directly even more so. Wasting time can be extremely harmful to your bottom line and your sense of well being!
To operate efficiently, your business may need systems for managing time and keeping track of who's working on what and for how long, even if you're the only one working on your business, knowing what you're working on, how you're doing on that task and what's getting done is essential to deciding where to use your most valuable asset, your time.
I learned early on in my own business that accounting software wasn't just about taxes but about understanding from a "larger picture" how your business was doing financially.
Proper time management and tracking is equally important possibly more so for your business. If you have to stop and think when you ask yourself "what did I accomplish today" you're neither tracking your tasks well enough nor planning well enough for them. What will you do tomorrow?
Most successful small-business owners are also successful time managers. And they tend to share certain traits and strategies. One of the most basic time management devices ever invented is the simple "to-do" list. Each day, jot down all of the things that need to get done, all on one sheet of paper.
Simple right, well here's a trick I learned a long time ago, I call it To Do list 2.0, simply jot down the time you expect something to take you next to the item on the to do list so when you look at it next you can decide if you have time to complete that task or if you should move onto something else.
Granted, figuring out how long something will take you will be hard at first, but the real bonus here is after guesstimating a half dozen times at how long it will take you to "drop off mail" or "create invoice" or "do bank deposit" you'll have a much better idea at how long these things really take (much longer than you think!) and you'll start adjusting as needed, maybe even delegating items that don't create enough benefit for the time invested.As tasks are completed, adjust for the approximate time used and cross them off. This can help you focus on getting them done one at a time, and also gives you a great sense of accomplishment.
Delegating more work can also help ease your time crunch. Many business owners accustomed to "doing it all" find this exceedingly difficult. But even if you are a sole operator, you can pass off tasks to others, via outsourcing, for example, to free up time for yourself.
Periodically analyze how time is spent at your business — and not just your time, but everyone's. Divide the day into small time blocks and record what you, or others, were doing in each block. Now compare this real use of time to your goals, expectations and mission priorities. If they do not align, you'll need to take action. One step might be to set clearer time-management goals for yourself and your employees.
Banish procrastination from your place of business. Growing, successful businesses don't put things off. Even a simple "no" response to something on your to-do list can extinguish that item and let you move on.
A variety of technology solutions are also helping small businesses track and manage time. Whether you're looking for assistance tracking, planning or making the most of your time The Technology Coach is here to help, give us a call or send us an email today and let us help you find a more efficient way of getting things done!
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