There are several effective time management strategies for busy entrepreneurs. Undoubtedly, running a business can be overwhelming with limited time and resources.
Typically, these individuals have a variety of tasks to complete, including developing new products, attending client meetings, and responding to unexpected problems. As an entrepreneur, you can free up time in your day by carefully managing your time.
Indeed, there are many different technological tools, systems, and processes to increase your productivity. This way, your new company can grow faster and accomplish more each day. Read on to discover the most effective time management strategies for busy entrepreneurs.
5. Create a prioritization system
First, you should create a prioritization system to improve your time management approach.
Many business experts recommend prioritizing both long-term and short-term activities. Importantly, long-term activities can gain momentum later on for your business. Secondly, short-term goals are critical for incremental results. To order these tasks, consider your deadlines, calculate the ROI, and brand reach.
Of course, deadlines should take precedent as you schedule your tasks. If you have a larger project that can yield a high return, designate time to working on it after your deadline is met. Certainly, a prioritization system is essential to manage your day-to-day workflow.
4. Divide work into blocks
Next, dividing your work into blocks is another effective strategy to manage your time. Ideally, you should allocate 25 minutes to work on your top priority task. Dedicate this time block to completing the task at hand.
Importantly, this means you should not check email, answer the phone, or go on social media, unless absolutely necessary.
When your timer goes off, you can stop that task and take a short break. Typically, productive business professionals take 5 minutes for this, unless it’s for meal. Once your break is over, you can set the timer again and continue with your task.
Of course, you can also go to the next item on your list. In the past, time management experts recommended multi-tasking to complete more throughout the day. However, splitting your time also splits your attention, which often leads to mistakes. Therefore, dividing your work into blocks is an essential productivity hack for the best results.
3. Use timesheet software
In addition, you can use timesheet software to streamline tasks as you build your company.
For example, some timesheet applications allow your employees to easily clock in and out of work. Then, the software can generate an accurate digital timesheet, reflecting their hours.
Some timesheet systems also use a GPS location stamp or facial recognition to verify the hours. Additionally, some systems can automate employee wage calculations according to your local laws and employment contracts. For example, Deputy timesheet software can calculate overtime pay and premium rates for your different employees. With these seamless payroll integrations, you can easily save time and reduce your administrative tasks.
Definitely, try using an online timesheet system to free up more time in your day once you hire employees.
2. Set personal deadlines
Moreover, you should also set personal deadlines for yourself. Notably, many entrepreneurs struggle to set deadlines because they don’t have anyone putting external pressure on them to complete tasks.
Often, this leads to procrastination and unproductive multitasking. Therefore, you should set firm deadlines for your most important task.
Importantly, you can do this for almost any task, whether it’s sending emails, making phone calls, or writing content for your website. For example, you could set a 15 minute limit for your phone call to keep yourself from wasting unnecessary time.
As the time approaches, you can politely tell the other party that you have to go. Absolutely, set personal deadlines for yourself to accomplish the most and enhance productivity throughout your day.
1. Apply the 80/20 rule
Furthermore, apply 80/20 rule as you plan out your tasks. Also known as the Pareto Principle, this rule states that 80% of the effects come from 20% of the causes. When you apply this to the business world, this principle states that the most important tasks will only make up about 20% of your working day.
Likely, the remaining 80% of work and time is not hugely influential as you start your business. When you find you have too much to deal with in a single day, identify the core of your most important work and focus on that. This can ensure you meet your top goals. Of course, you should only use this principle when you have more tasks than you can handle in a day. Undoubtedly, apply the 80/20 rule to complete your most pressing core tasks.
The gist
There are several effective time management strategies for busy entrepreneurs.
First, create a prioritization system to identify your most important tasks. Next, divide work into blocks to create uninterrupted working times. In addition, use timesheet software to streamline employee tracking and automate wage calculations one you have hired other professionals. Moreover, set personal deadlines to avoid procrastination and unproductive multitasking. Furthermore, apply the 80/20 rule to ensure you complete your most pressing core tasks.
Whether you are a busy entrepreneur or an executive, consider these effective time management strategies to become the King (or Queen) of productivity!
Which one of these tips is your favourite? Let me know by leaving a comment below!
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