Time Management Tips for the Busy Entrepreneur
Regardless of their age or experience, all entrepreneurs are well aware that time is one of their most valuable assets. Since the number of hours in a day is always consistent, your emphasis has to be on how to best utilize the hours available to you. Here are some effective time management strategies for busy entrepreneurs.
Begin your day by writing down the tasks ahead of you that have the highest priority. These represent the work that must be done immediately and cannot be put off. You will find that as you evaluate your tasks the 80/20 rule generally applies. This postulates that 20 percent of what you do produces 80 percent of the results. Analyze the probable outcomes of your work, and focus on whatever will give you the best results for the time you invest.
Schedule Blocks of Time
Block out time on your calendar for tasks you have to perform and events you have to attend. Differentiate between work-related tasks and personal tasks. According to your internal clock, schedule the most challenging work for your hours of peak performance.
Set Firm Deadlines
Entrepreneurs have no one to pressure them; they have to apply the time management pressure themselves. For this reason, it is important that you set deadlines for the work you have to accomplish, even if there are no apparent external deadlines. This helps you move from one thing to the next with expediency instead of dragging things out.
Start Strong and Keep Going
How productive you are during the first morning hours sets your pace and tone for the rest of the day. If you start with a series of accomplishments, you have set a lasting pattern of success. Go ahead and take breaks when you need them, but avoid the temptation to slow down and bask in what you have already done.
Implement Time Tracking
Whether you use a time tracking app or simply write everything down, keep track of whatever you do, down to the minute, for a month’s period of time. Analyze the results, and cut wasteful activities out of your schedule.