11 Secrets to Better Time Management for Entrepreneurs
Why is it that the Bill Gates of this world are rich and famous? What
secret do they know that the rest of us don't? If you study their lives
closely, you'll discover the rich and famous have certain habits that attribute
to their success. Successful people are very careful about how they spend their
time. No matter how you slice it, we all have 24 hours in a day, so
the key lies in learning to use our time wisely. Below are some ways you
can dramatically increase your productivity through more
effective use of your time.
1. MONITOR HOW YOU CURRENTLY USE YOUR TIME: If it seems
like your day slips by all too quickly, try creating a log
of your daily activities. Once you see where you are
spending your time, you can identify and focus on the activities
that provide the greatest returns for you personally and financially.
Start your log by writing down what time you wake up, get ready, and
begin work. Calculate how much time you spend on individual activities
such as email, phone calls, and client work.
2. CALCULATE HOW MUCH YOUR TIME IS WORTH:
Time is money. Knowing how much your time is worth can
help you make better decisions as to whether you should perform a
task or outsource it.
For instance, if your time is worth $200 an hour, you
are far better off paying someone $30 an hour to
edit your newsletter. You can "bank" the other $170 per
hour by spending your time on profit making activities. Also take the
time to determine how much time a day you need to spend on billable activities
to make your desired profit. I try to spend 1.5 hours
a day on money making projects.
3. CREATE A DAILY SCHEDULE: Don't start your day without a to do
list. Make a list of tasks and categorize them into business
building activities, client activities, and personal items. Then break
bigger unmanageable projects into smaller "doable" chunks so they
are less intimidating and are easier to accomplish.
4. PRIORITIZE: Have more to do than hours in the day? By
prioritizing your tasks, you'll make sure that you are
tackling the items that matter most. Create a system that works for you.
One standard way of prioritizing is to mark items with A,
B, and C.
Ask yourself these key questions:
What items MUST be done today?
Which items can be rescheduled?
What can be delegated?
Which tasks most closely match my priorities and goals?
Which items can be eliminated?
5. LEARN TO SAY NO: Are you adding one more item
to your never-ending TO DO list? You are in control
of your time. Be strong and uphold your personal
boundaries. When you are well rested and treat yourself
and your family to the time off you deserve, you'll feel happier and
more productive when it's time to go back to work. **
Before you say yes, ask yourself these questions:
Do you really have the time or energy to do that extra task?
Do I like this customer? Are they good for me?
Will it be profitable?
Does it invade on your personal time?
Does it involve doing something you enjoy?
Does it fit in with your list of priorities and goals?
6. REMOVE DISTRACTIONS AND TIME SUCKS: Time sucks are lurking everywhere like
viruses. Think about which activities are eating up your time. For me
personally, these items include email, social calls, and
telemarketers. I "conquer" the email demon by shutting down
my Outlook when I am working. When a family member calls during work
time, I politely ask if I can call them back during the
afternoon and remind them of my work hours. Caller ID valiantly saves me
from the "would be" telemarketer time thieves. With one
glance, I can quickly differentiate telemarketers from important
client calls.
7. STICK TO THE PLAN: Try not to get side-tracked from your plan. One
of my friends has a motto, "A lack of planning on your part does
not constitute an emergency for me". It's a smart one to live by.
Unless it's a true emergency, or you are being paid "rush" time,
you probably don't need to squeeze a last-minute request in today. Also,
by assigning yourself project deadlines, you can keep on top of projects
and avoid those dreaded last-minute emergencies.
8. CHOOSE AN INSPIRING PLACE AND TIME: We are all "built"
differently. Do the tasks which take your most "brain
power" when you are at your prime. Are you a morning person or
do you work best burning the midnight oils? Create an ultimate work haven
that is clean, distraction free, and inspiring. My office overlooks
my flower garden and is right in the heart of family activity. As I glance
to the right, our Angel fish "Spike" proudly parades across the fish
tank. In front of me, Monet has a glorious display of peach
poppies in a field. Above me, Monet is painting a vivid portrait of
his flower garden. In the living room, my son is softly singing the
Spiderman theme to himself - music to my ears!
9. BUNDLE LIKE TASKS TOGETHER: As you work through your daily list,
try to chunk your tasks into like activities. By creating a
separate "chunk" of time for answering email, invoicing, making
return phone calls, you'll save time and mental energy.
10. AVOID INTERRUPTIONS: Trying to do the same thing over and over
again with interruptions can be maddening. Once you start a task, try
to finish it to the end. If something comes up that you need to
remember or do, unless it's urgent, simply add it
to your list and continue on with your current
project.
11. BE ORGANIZED: When things are tidy, it saves you time and frees you to
focus on the task at hand. Digging through a pile of papers and finding a
squished Twinkie isn't very conducive to the work experience.
Follow your own organizational style. PHONE LISTS:
For instance, I arrange my phone lists into groups
according to how I use them: friends, family, doctors, my children's
playmates, etc. I also list people in my phone book
that I talk to on a first name basis by their first name
alphabetically. For instance, I list my mom under "M"
and my brother under "T" for Troy. "D" has a list of all my
doctors. This works for me, because it's how I think.
EMAILS: Another time saving idea is to colour
code your emails. In my personal colour scheme I use
one colour for clients, one for newsletters, and another for my co-workers. You
can also group your emails using categories and folders.
ONE CALENDAR MEETS ALL: Keeping track of work appointments, Brownie meetings,
and committee meetings can be very difficult. My secret to keeping on top of
family and work appointments is to schedule them all on one calendar.
DAYTIMER SPECIAL SECTION: Create a special section of your Daytime
just for special interests, hobbies, or kids. My husband keeps
one with all his stock info. I have a special kid
section with phone numbers for Brownie leaders, playmates, doctors,
school contacts, bus number and other items.
SUMMARY: Why wait for success when you can literally schedule it! By
mastering your time, you can accomplish much more with less
effort. Be choosey about how you spend your time. Focus on activities
which most closely match your goals. By taking time to monitor,
measure, and manage your time, you will enjoy an abundance of success
and happiness.
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