Time Management

4 Time Management Tips For Small Businesses

 

If you are a small business owner who wants to develop it into something bigger you probably know that good time management is your key challenge.  Trying to catch up with all the latest tendencies, marketing your web presence, managing employees, communicating with clients, in other words – doing everything that a business of 21st century should… We know how hard it is!

Here are 4 Time Management tips that, we hope, will guide you through your busy schedule:

1. Prioritize Urgent And Important Tasks

Do you remember innovation by Allan Mulally, Ford Motors CEO, the famous story about using traffic lights in the office? That’s a perfect example of how implementing simple rules can boost efficiency. Classify your tasks and those of your employees into GreenYellow and Red. Start with the red ones, move to the yellow and finalize with the green, without distracting and without shifting the focus.
Prioritizing tasks by urgency will let you always meet deadlines and get what needs to be done. So, remember? Traffic light system for time management!

2. Stick to 80/20 Time Management Rule

It is already proved that 20% of what we do during a day produces 80% of the results. The important thing here is to be attentive to details. Try to figure out what that 20% is compiled of. If you solve this math problem – congrats, you win a bingo! Increasing amount of the time you spend each day doing that very 20% will lead you to extreme productivity.

3. Don’t Be Afraid to Delegate

Delegation is one of the main challenging areas while managing a small business. What shall I delegate? Whom shall I delegate? Shall I spend time on checking the task? Yes, it causes confusion and often gets messy, indeed! Take a deep breath and read on.

Classify tasks according to their difficulty, group them by WHAT:

  • Only you can do
  • Another person can do with your help
  • Another person can do 100% independently

This will help you identify what is the percentage of tasks you can get rid of and relieve the burden. And, most importantly, keep in mind that you will spend some time on training employees, but if you’ve got the right person – worth it! Hire people you can trust and delegate responsively.

4. Find the Right Team Collaboration Tool

Even if you team is small, you still need to organize communication efficiently. So, be keen on choosing the right tools. Employees should always be aware of whether you are available for a quick chat or not, when and on which platform. What is the main collaboration tool for your small business: is it E-mail? Facebook? Or may be Slack? Are you consistent on time tracking? Do you need a separate software for increasing productivity? Answer these questions and make those answers distinct for yourself.

Once you follow these tips for several days, analyze results at the end of the week. You will quickly see your big time wastes, distractions and things getting in the way of developing your business into something bigger. Never give up and optimize your business schedule to the full extend. Believe us, the fruits will amaze you!

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Lilit N.

Lilit is a passionate Marketing Expert, having extensive experience in managing Marketing activities of various brands across all industries. She has outstanding skills in Content Writing, which she enjoys doing the best.

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