Managing time properly is one of the biggest challenges that new business owners face. You can easily let your budding venture suck you in until your workweek has swollen from five days to seven and your daily hours only get longer. Don’t let your exciting jaunt into entrepreneurship turn into an exhausting drain on your time. Learn some ways to balance your time wisely so you can grow your company without sacrificing family dinners or Sunday golf.
Master the Art of Delegation
Small business owners may face challenges as they try to loosen their grip on the company enough to properly delegate. Let go of the details so you can focus on big-picture issues that are more essential to the success and growth of your business. Know your own strengths as well as those of your employees. Delegate the tasks that don’t fall squarely within your personal expertise.
No one can excel at everything. Know when another employee will excel at a task so that you can avoid spending your time trying to take on a job that you’re not equipped to do. Learn to delegate early on and you can gradually increase the scope of your employees’ projects and responsibilities as the business grows.
Use Smart Software Solutions
The right software can shave hours from a project. Strive to always look for the most efficient way to complete a task, particularly when you’re dealing with routine activities that will occur weekly, monthly, quarterly, or annually. Wasted time adds up with repetitive jobs. Research smart technology choices that can help you do the job better and faster.
You’ll find specialized programs available for nearly every job. Sage 50 accounting software, for example, streamlines your accounting tasks to help you manage your sales, inventory, purchasing, shipping, billing, and financial statements. Cloud computing solutions will help you easily share documents with clients or collaborate with remote employees. Simplify your social media efforts with powerful marketing tools such as WordPress for blogging or Hootsuite for Twitter and Facebook posts.
Maintain Clear Lines of Communication
Miscommunication is a huge time waster. Those precious minutes you use explaining a project for the second or third time could be spent relaxing at home at the end of the day or enjoying a quiet lunch with a loved one. Maximize your free time by making sure your employees understand your instructions properly the first time.
Keep clear lines of communication throughout your hierarchy to address problems as they occur and come up with quick resolutions. Don’t treat communication as an afterthought. Schedule well-planned meetings for updates, questions, and comments. Don’t fall into the classic trap of whiling away time over bagels and coffee. Approach your conversations purposefully, take notes, put doable plans into action, and check in often to make sure everyone is still on track.
Log Time Efficiently
You’ll face challenges pinpointing the best strategies for saving time if you’re not aware of how you’re spending it. Practice logging time on a regular basis so you’ll get an in-depth look at where your minutes are going. Take a few days each month or each quarter and meticulously log all your activities throughout the day. Include everything from water cooler breaks and trips to the coffee shop to time checking your email or browsing Facebook posts.
After you’ve completed these detailed time logs, analyze them closely to pinpoint areas where you’re spending too much time. You may be surprised to see how much of your day gets dedicated to putting out small fires, updating social media, or trying to organize your projects better. Use these insights to delegate better, stay more organized, and add valuable minutes back to your personal time bank.
With the right approach, you can manage both your business and your personal life efficiently so you’re getting everything you want out of both areas. Avoid the dangers of burnout and begin handling your time wisely from the beginning. Implementing smart strategies now will turn them into lasting habits that you can rely on long into the future.
