Time Management for Small Business Owners
With it becoming more and more difficult to find staff, a lot of pressure is being placed on small business owners who feel like they have to do it all themselves. One way to improve efficiency and get more done with less is to have a solid time management plan.
Time management needs to be a priority for any business owner - you’re usually wearing many hats, and being able to prioritize and get things done is key to your success. Here are some tips on how to improve your time management skills. Read below for some tips on how to master time management as a small business owner.
Set clear goals and priorities
Identify key business priorities and set clear, achievable goals to stay focused on essential tasks. Consider using the 80-20 rule - generally speaking, 80% of your profit comes from 20% of your resources - figure out which of your processes generates the most value and prioritize that. You’d be surprised what you can delegate and save some of your own precious time.
Create a daily schedule and stick to it!
Plan your day in advance, allocating specific time blocks for different tasks and commitments. Using an online calendar like Google Calendar can help you stay on top of your commitments. When you’re doing this, consider batching your tasks together - if you have a lot of similar things to do, lump them together in a chunk of time so you can avoid context-switching.
Delegate and outsource when you can
Delegate tasks to trusted team members and consider outsourcing non-core activities to free up your time for critical responsibilities. Remember the 80-20 rule? A lot of the activities outside of the 20% can be done by someone else, like your bookkeeping for example.
Eliminate Time-Wasting Habits
Address habits that waste time, such as excessive smartphone use or social media distractions. There are apps that you can use to block social media use and other distractions if you can’t do it yourself.
Take Breaks and Rest
That being said, you don’t need to be “on” all the time. Make sure to schedule regular breaks to recharge and maintain productivity while avoiding burnout. Even if it’s just a walk around the block, or a coffee break, this is a good time to practice mindfulness - set work aside for a second and try to just be present, it’s a great way to take care of your mental health.
With time saved, put your mind toward growth
When you’re ready to grow your business, Honeycomb Credit has got you covered with funding! Our investment offerings allow your biggest fans and supporters to actually invest in your business - getting you the capital you need and also a boost in customer loyalty! To learn more, fill out the form below.