19 Apr Best Time Management Practices for Entrepreneurs
The majority of young entrepreneurs get into business for themselves with the hopes of escaping the drudgery of a normal career. The average Entrepreneur is willing to work extremely hard to accomplish this goal. Unfortunately, though, passion alone is not enough to ensure success. Time Management is important in every career, but for entrepreneurs it is key. It can be extremely hard to find time for everything that needs to get done without sacrificing personal time or family obligations. It is possible to start a successful business without devoting 24 hours a day to it, though. Check out the Time Management Secrets below to find out how.
Time Management is primarily a matter of organization. Many inexperienced entrepreneurs fall prey to the desire to simply throw everything in a pile to document it later. This is one of the worst possible business practices. Everything from client or customer information to potential business contacts should be filed immediately according to a sensible strategy. Be sure to include notes about specific people that may be relevant to future transactions.
Create a Calendar
Scheduling is important, particularly for those who want their lives to consist of more than just work. Creating a calendar, and then following the schedule that has been created, can help to ensure that there is enough time for everything, including leisure. Be sure to include adequate downtime in the schedule, and to plan to complete difficult tasks at the best possible time. Most people find that they are best able to face challenging or tedious work in the morning. Not only does this strategy for Time Management ensure that the most important work gets done first, but it also allows extra time throughout the day for any necessary follow-up.
Entrepreneurs who are lucky enough to have the right people working for them are at a natural advantage, as they can delegate tasks to trustworthy associates. It’s important that any business associates be trustworthy and serious, though. Nothing is worse than delegating part of a time-sensitive task to an employee or partner, only to find that the deadline comes and goes and the work does not get done.
If most of the work that needs to get done requires specialized knowledge or expertise that no one else has, consider what other tasks could be reassigned to others in order to allow more time for them. They may include compiling research, organizing files, or even running errands. Appropriate Time Management sometimes requires taking people up on offers of help, even if they aren’t directly business-related.
Those who perform the majority of the work themselves still have recourse to technology, though. Downloading helpful apps such as data syncing, calendar reminders, and even Skype to a company or personal smartphone can remove much of the hassle from networking and organizing information.
It’s not a bad idea to carry a laptop, either. Smartphones can be extremely helpful tools, but long waits or time spent traveling can often be put to better use with a laptop than a smartphone. Respond to emails or organize documents during longer waits; just be sure not to allow technology to push business into designated leisure time.
Reducing distractions isn’t always as simple as it sounds. Most busy entrepreneurs are already reconciled to the idea of designating time for work and leisure, but that doesn’t mean other people in their lives will automatically respect these designations. Time Management isn’t just about making scheduling decisions and sticking to them. It’s also about devoting full, undivided attention to the task at hand.
Those who work from home may have difficulty with this aspect of Time Management. Just be sure to respectfully discuss it with anyone else in the household, and ensure that they know the office is off-limits during certain hours. This will allow for increased focus instead of forcing entrepreneurs to divide their attention between work and home life.