Time is one of the most valuable resources of every entrepreneur. It’s precious, sacred, and when lost, it’s irreplaceable. And your productivity depends on how well you manage your time. So, in this article, I will share with you some time management advice for entrepreneurs.
There are no two ways about it; entrepreneurs succeed not because they are lucky, but because they manage their time productively.
According to Wealth-X, a marketing research firm, there were about 2,825 billionaires in the world in 2019. Guess what most of these billionaires have in common? They are great time managers.
Every billionaire entrepreneur gets countless emails every day. They attend to several issues at a time – meet with their employees, work on a product design, do market research, yet they still have time for themselves.
Frankly, successful entrepreneurs aren’t superhumans, and they don’t perform magic. A lot of what they do is design time schedules for all their activities and adhere to them strictly.
Surprisingly, if you can apply the same discipline and drive to your business, you will be successful in no time.
If you are struggling with time management as a business owner, here is some time management advice for entrepreneurs.
#1. Plan Your Week Ahead
One of the most crucial time management pieces of advice for entrepreneurs is to plan. It doesn’t matter whether you are a startup entrepreneur or a small business, try to always plan your week.
Take your time, create a schedule of tasks you are going to perform during the week. Allocate time to each of these tasks and adhere to the schedule strictly.
Again, try to prioritize all your tasks within the week in order of importance. Give maximum attention to tasks that are approaching deadlines. Also, start with the most difficult tasks on your schedule.
However, as you plan your week, always save room for emergencies; they will always come up. If you include them in your weekly plan, you won’t be caught unprepared whenever something unexpected pops up.
#2. Maintain a Daily To-Do List
A to-do list is an important time management tool every entrepreneur should maintain. It’s a daily list of all the important tasks you need to execute in order of priority. The most urgent and important tasks are always at the top of the to-do list, while the less important ones are at the bottom.
A well-organized to-do list will help you be more focused and productive, as well as overcome work overload. Entrepreneurs that maintain to-do lists manage their time religiously and are less prone to stress.
More importantly, the to-do list enables you to devote your time and energy to high-value tasks. So, maintaining a daily to-do list is some of the best time management advice for entrepreneurs struggling with productivity.
Here are tips on how to create a well-thought-out daily to-do list;
- Write out all the tasks you need to complete. Don’t rush it; take your time to write everything out, so you don’t leave out anything.
- Go through the tasks you have written and prioritize them in order of urgency and importance.
#3. Make Plans for Distractions
It doesn’t matter how serious-minded you are with your job; there will always be moments of unavoidable distractions. And if you want to be more productive, you should allocate time for them.
#4. Avoid Doing Many Things at the Same Time
Some of the best time management advice for entrepreneurs is to focus on one thing at a time. You may think multitasking makes you effective and helps you achieve more within a short time.
But in reality, it will make you less productive and affect your overall performance. So, try to focus on one task at a time. It’s not going to be easy but try to discipline yourself.
While you are working on a particular task, don’t allow anything to distract you. Ensure that you are mentally present.
If you always leave your task to read new emails, respond to text messages, and micromanage issues that your employees can handle, you will end up not giving the task the attention it deserves.
If you want to achieve the best results in the tasks you perform, try to execute them one at a time. It gives little room for mistakes and it increases productivity.
#5. Give Less Attention to People
Another great piece of time management advice for entrepreneurs is to give less attention to people. When working on a task, don’t answer calls or respond to emails, unless they are essential to your business. If you can apply this tip, your productivity will increase exponentially.
So, once you are working on any task, disconnect from instant messages and do not give immediate attention to people. Even if you want to have a conversation with someone, schedule a time for it. This also applies to answering calls and responding to emails.
Productive people take every second of their life seriously. They plan every step they take and seldom give immediate attention to people.
#6. Block Out Social Media Distractions
Social media is a double-edged sword. It can either help you achieve great results or it can make you completely unproductive, depending on how you use it.
If you aren’t disciplined, social media platforms will suck away your time and attention. That’s why it’s important to always block out social media distractions whenever you are working on a project.
#7. Delegate Some of Your Tasks
Honestly, you can’t do everything. It’s a fact, and you must accept it. Try to identify tasks on your to-do list that you can easily delegate to your employees. It will give you enough time to perform other crucial tasks that will bring maximum value to your business.
Time is one of the most valuable currencies in the 21st century. Unfortunately, most people underrate the value of time. However, if you value your time and manage it strictly, you can increase your chance of success as an entrepreneur.