For many business owners, creating an effective approach to time-management can be challenging. We know that time is money, but in business this is especially true.

How you and your team manage time can make a huge difference in terms of productivity and profit. Time is everyone’s most limited asset, in this blog post we’ll take a look at how to utilise it best.

 

The Importance of a Personalised Approach

Most business owners are familiar with the importance of a daily schedule, however many overlook the fact that in order for a schedule to be effective – it must be personalised. Schedules, just like people are totally unique. Peak productivity time, what tasks you consider important and when you’d like to take a break are just a few factors to take into consideration when designing your workday. For your workdays to not only be productive but enjoyable, they’ve got to align with what works for you. If you’re more productive in the early afternoon, yet are attempting to complete all your tasks at 7am, it may result in stress and frustration which would set a negative tone for the rest of the day. Creating a workday schedule that you identify with is the first step to time-management success!

 

Prioritise Everything On Your Plate

Barbara Stanny, now Huson, author of “Overcoming Underearning” shares a key activity to help business owners prioritise for productivity. 

The key is not to prioritise what’s on your schedule, but to schedule your priorities.

First, identify your top 5 values, what you cherish most within your business. Next, make a list of everything on your to-do list, all those items you simply must do. Write them on a piece of paper or in your journal. Finally, narrow your list down to 5 items based on your most important values. These are your priorities. They take precedence when scheduling your time. If it’s not a priority, it’s a distraction.

If you’re curious about the areas where you may be over-spending your time, that exercise will clarify where to direct your attention.

 

Think Strategically

Strategic thinking goes hand-in-hand with prioritizing for productivity. This isn’t a short-term fix for time management but more of a long-term solution. It takes repetition and commitment to bring it to fruition and ultimately will ensure your business thrives.

Strategic thinking involves;

  • Figuring out the costs of doing business
  • Creating a plan to keep costs low and revenues growing
  • Cutting losses when something isn’t working
  • Designing effective structures and systems
  • Integrating data and new information
  • Daily/monthly strategising and yearly long-term planning.

Thinking strategically will bring your focus to the most important parts of your business. It will ensure your business’s growth into a successful profitable enterprise that works so you don’t have to!