Tips for Time Management in Your Small Business

As a small business owner, your most valuable asset is yourself. You are the one person who created the business and kept it going. You have to do multiple tasks to turn your business into a success. If you are unable to manage your time wisely, you can suffer financially and professionally. With a few simple steps, you can learn how to manage your time more effectively. Here’s how:

Start Tracking Your Time

One of the hardest parts about managing your time is learning where your time is spent. At the end of the day, you find yourself wondering where all of those precious minutes went. Before you start planning out your time, you have to figure out how you are using it. You can use a piece of paper or a spreadsheet to start logging your hours.

 

Divide your time according to activities like meetings, sales, or invoices. Create each category according to the things you typically do during your time. Now, use these categories to track your time for several weeks. As you track your time, you will start to notice where your time is going. If you are spending too many hours on one activity, your next goal is to find a way to reduce that expenditure.

Find the Right Tools

There are a number of different tools available that can help you manage your time. You basically need a task list and a calendar to organize your time. Some of the tools like Reminders can be found on Apple computers and similar operating systems. If you always have your phone with you, the right option may be an app. Choose the system that works best for your needs.

Get Your Priorities in Order

Are you wasting time by managing inventory and doing simple tasks in your business that could be automated? If you are manually backing up data, you could be wasting your time. When an emergency happens, you need to have your data accessible and secure. You do not have to do this yourself though.covery software can help secure your data automatically so that you can focus on other tasks.

 

Find the best inventory software so that you can free up your time to do more important managerial tasks.

Identify Deficiencies

To figure out where your time losses are, start by figuring out how much time you have. Make a list of how you would ideally spend most of each day or week. Note the tasks that are a priority and how much time they should take.

 

Then, work down your list to the least important tasks. Once you have this list made, you can start to figure out what you ought to do and what you have to do. How does this list compare to your time tracking in the first step? If these lists do not match up, then you have to learn how to manage your time better or re-prioritize your tasks.

Remember: White Space Is a Good Thing

When people create their schedule, they have a tendency to fill in every available time block. If your business demands this approach, then you have to do it. In most cases, there is an opportunity for some white space in your schedule.

 

You should always strive to schedule in breaks and empty spaces. If you do not take a break, you will become less productive. Ultimately, this results in more time being wasted. In addition, you need those white spaces in your schedule in case an emergency pops up that you have to deal with right away.

Trust Your Employees

You trained your employees to run marketing campaigns, sell to clients, and track financial matters. While you are capable of doing these things, you do not have time to do everything. At some point, you need to step back and let your employees do their job.

 

If your employees are well-trained, you can delegate more tasks to them. For this to work, you have to hire intelligent, talented employees. More importantly, you have to initially take more time out of your schedule to train them properly. For your employees to succeed, they have to be trained to do each task.

Save Time and Your Business

Even with the best time management skills, it is easy to get caught up in the whirlwind of life. When this happens, you have to relax and refocus your mind. Rebuild your schedule and focus on your priorities again. By effectively managing your time, you can have a more successful business with less stress.

Lisa
Lisa Besserman, Founder and CEO of Startup Buenos Aires, has been named as Business Insider’s “Top 100 Most Influential Women in Tech”, and the 2014 “Business Innovator of Latin America” by the Council of the Americas.

Lisa moved to Buenos Aires from New York City to create Startup Buenos Aires, the organization that represents the startup, tech and entrepreneurial community of Buenos Aires, Argentina.
Startup Buenos Aires has been one of the main catalysts for strengthening the tech ecosystem in Latin America, by bringing global startup initiatives, development projects and investment opportunities to the region.
Under Lisa’s leadership Startup Buenos Aires has been credited as “Top 3 Growing Startup Cities” by CNBC and “5 Emerging Global Tech Hubs” by Entrepreneur Magazine.

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