Time management is something that traditional schooling doesn’t teach but is a skill that’s absolutely crucial to succeed in business. On an average day, entrepreneurs are confronted with a myriad of menial tasks and pressing matters that require their attention.
With limited time and energy, being able to sift through these responsibilities and direct your resources towards the important tasks can be the key differentiator you need to succeed as an entrepreneur. Here’s three tips to do just that.
It’s overused advice but definitely worth repeating. Going about your day without a plan can work if it’s a weekend and you just want to let your hair down. But there isn’t a thing as a normal day or week for an entrepreneur. Things can go south in a moment’s notice, be it a problem with one of your manufacturers or distributors or a personal emergency. Develop a plan that lists your most important and urgent priorities, appointments you are scheduled for or have to schedule, and events that you’ve agreed to attend.
Time management fanatics used to advocate the benefits of multitasking. But as several recent studies show, multitasking does not work and oftentimes yields the exact opposite results. Trying to divide your attention and mental capacity between multiple things at once can produce lower quality output for all tasks across the board. Instead, use blocks to complete the necessary work. The Pomodoro Technique, for instance, involves working in blocks of 25 minutes, taking a five minute break after, and then starting another block. Working in blocks helps you stay laser focused.
Learn to Delegate
Delegating tasks is an important skill for every entrepreneur. No one is skilled at all things. At some point, you’ll face a technical problem that you’ll have no idea how to do, whether it’s accounting or rocket science. Delegating it to a more competent individual frees you up to focus on your strengths while still getting all tasks done. Successful delegation requires being able to trust others and knowing enough about a subject to know whom to delegate it to.
Learning how to better manage your time not only improves your results as an entrepreneur but also your personal relationships and overall satisfaction and happiness in life.