Time Management Tips for Small Business Owners
Managing a successful small business is no easy feat. It requires detailed and organized planning, critical decision making, and persistent motivation. An essential key component of incorporating these attributes is being able to successfully manage your time.
Check out these 5 tips that will help you manage your time better as a small business owner:
1. Create a schedule
Many people, specifically entrepreneurs, hate the idea of having a schedule. They often think “ugh, do I really have to have this tyrant dictating my life?” But this is the incorrect way of viewing a schedule. A schedule is not something that controls you, but rather is there to guide you.
Think about it like this: when you create a schedule, you are a different person than when implement your schedule. The person that created the schedule is the version of yourself that has your best interest in mind and knows what you need to accomplish to push you closer to your goal. The person that is implementing the schedule is the version of you that is likely affected by the everyday struggles that life throws at us such as fatigue, personal events, coffee come down, etc. Therefore, ideally, it is in your best interest to listen to the version of yourself that created the schedule because that version of you is less affected by bias. This is not an easy task. However, viewing the schedule in this way can make it easier to implement it successfully.
2. Categorize your tasks by priority
As a small business owner, your mind is likely filled with tons of tasks that need to be completed at different times. Which task is most important? Which tasks need to be done today? Which tasks can be done by your employee(s)? Having these questions in your head every day can be draining and stressful. A solution to this is ordering your tasks into 3 different categories: recurring, indefinite, and urgent tasks.
Recurring tasks are the mundane actions that need to be done weekly and take no more thought than simply just doing them. However, they are likely essential to keep your business running smoothly.
Indefinite tasks are tasks that don’t come up all the time but need to be done eventually. These tasks don’t have to be done immediately, so they are the least important.
Urgent tasks are tasks that need to be worked on immediately or at least by the next day.
Your brain is a powerful tool. However, it is not perfect and cannot remember everything. Clear some of your brain storage by creating a to-do list!
3. Stop multitasking
Unless you’re an anomaly, multitasking is a myth. Trying to juggle multiple tasks at once results in more time than just focusing one simple task. Focusing on one task with all your energy has been proven to be the most effective method of productivity.
4. Incorporate breaks and potential distractions
We’re human. No matter how hard we try, we will never be able to fully control our needs and animalistic behavior at all times. As a result, we will get tired, distracted, unfocused, annoyed, bored, and every other feeling in the book. And that’s okay. But rather than getting frustrated at ourselves for failing to finish a task or sticking to a schedule, there are some things we can do to account for these behaviors that are likely to arise.
Incorporate breaks into your schedule. It may be tough to walk away from something that you are passionately focused on at that moment. However, taking a break is essential to your productivity. Breaks allow you to regain focus on your work, improve your performance, can help you find creative solutions to problems, and lowers stress.
Incorporate potential distractors. We all get distracted. Sometimes its not our fault and an emergency occurs that require our attention. Be sure to add some extra time to each task in your schedule to make sure to account for these. Doing this makes you feel like you haven’t broken your schedule even if you get distracted. This allows you to feel a sense of comfort in your time rather than constant urgency.
5. Find your groove
We are not all the same. I could tell you that most billionaires wake up at 5 am to work and that in order to be as successful as them, you must do the same. But that’s not practical for everyone and may not always be the most productive time for everyone to work.
Find a particular time where each task is done at an appropriate time. Do you notice that you are the snappiest and most clear thinking early in the morning? Assign yourself the most complex and draining tasks to do in the morning. Do you notice that you are unable to focus in a specific environment? Complete the least complex tasks in that environment.
Finding a groove allows you with a structure and a sense of stability in your business. This is something essential to develop because it instills a sense of formality/sophistication within your employees. This in turn translates to increased productivity and results in increased revenue for your business.
In conclusion, time management is one of the most – if not, the most important skill to possess when running a small business. If you can master the skill of managing your time as efficiently as possible, it would make things a whole lot easier for yourself and everyone around you!