5 Time Management Tips For Small Business Owners

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To say small business owners are short on time would be an understatement. Time, like money and just about everything else of significant value, is short in supply. Small business owners are forced to find creative ways to free up time for brainstorming new offerings, reflecting on past successes and failures and ultimately getting some enjoyment out of the whole thing. Follow the tips detailed below to make the most of your limited time.

1) Assign Importance to Work Tasks and Delegate Appropriately

Do not jump right into your work. Take a few minutes to determine which projects are most important. Focus on these high-importance projects before anything else. If necessary, create a list of tasks to do in order of most important to least important. Get the most urgent and important tasks out of the way so you can focus on other projects that are not as urgent.

2) Reduce Distractions

If you are distracted, you will never get your work done. A single distraction has the potential to send you on a digression away from your daily work plan. Do not let any old party speak with you just because you are the boss. Designate specific times for meetings with employees, customers, partners, vendors and others. Maintain your concentration while working and you will prove that much more efficient.

3) Try to Plan Your Workday

Though planning out a workday in advance might seem like a fool’s task, there is the potential for your workday to progress in accordance with a preordained plan. Minimize distractions, reserve specific time slots for meetings and you just might be able to adhere to a plan. Jot down a daily workday plan each morning and you will feel more pressure to make actual progress rather than merely put out fires as they arise.

4) Reserve Time for Yourself

It is awfully easy to lose track of yourself when you own a business. You are pulled in every direction by clients, employees, family, friends and colleagues. Do not forget to carve out some time for yourself to unwind. Even if you spend 10 minutes a day thinking about your progress and reflecting on past experiences, it will help narrow your focus on your goal.

5) Eliminate Time-wasters

You won’t feel as bad about carving out 10 minutes or so each workday for yourself if you eliminate as many time-wasters as possible. The best way to identify time-wasters is to create a time log. Add up the amount of time you spend on each task each day to determine what percentage of your time was spent on various projects. Pinpoint areas where you spend too much time, make the appropriate alterations and you will maximize the value of your time.

Make the Most of Your Time and It Will Reflect in the Bottom Line

Incorporate the advice detailed above and you will find it makes a meaningful difference in your company’s bottom line. Perhaps just as important is the fact that improved time management will free up much-needed time for personal and family matters. Never lose sight of the fact that time is money and you will remain steadfastly focused on making the most of your waking hours.

About the Author:

Marla DiCarlo is an accomplished business consultant with more than 28 years of professional accounting experience. As co-owner and CEO of Raincatcher, she helps business owners sell their business to get paid the maximum value for their business.

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