Effective Time Management Tips for Busy Entrepreneurs

1. Setting Priorities

This is not to say you will only do one thing at a time. But multitasking a lower priority task with a higher one can be defeating and result in the two tasks taking longer. If you must multitask to get things done quickly, at least make it a high priority task with a lower one.

An exercise I implemented (which takes 5 minutes to do) is to write down the 10 most important things that need to be accomplished, then number them in order of their importance. Then make sure you start at number one and don’t move onto number two until number one is completed. By doing this, you will start to get things done in an orderly fashion.

One of the key things to your success is to prioritize. If you can work on your tasks in order of their importance, then you can really get ahead.

Effective time management for busy entrepreneurs means that in order to be successful, you must make the best possible use of time. We all have the same amount of time in a day, but some are able to accomplish a lot more than others. If you’re feeling like you’re not getting enough done each day, here are some tips to consider.

2. Creating a Schedule

Try to stick to the schedule as best you can. It takes around 3 weeks to form a solid habit, and the schedule will be constantly adjusted for different tasks. Realistically, this is a process that can never be completely mastered.

As you allocate tasks, try to allocate the more difficult and important tasks at your optimal energy times. This will mean that tasks are completed to a high standard and take less time. Always allow extra time for unexpected tasks and schedule in some free time to use in any areas you may have fallen behind. This will reduce stress and avoid the temptation of just disregarding the schedule and making changes.

Throughout the scheduling process, always ask yourself, “Is this a good use of my time?” To answer this question, it will be helpful to understand your own energy levels at different times of the day and how long you can effectively concentrate at one time. This can vary from person to person, but as a general rule, most people get their best work done in the morning as there are fewer distractions and the mind is refreshed.

You need to allocate different tasks to a certain day or time. The process needs to be realistic. There is no point in allocating 2 hours for task completion at a time in which you know you cannot commit the full 2 hours to. This will simply lead to scheduling clashes and uncompleted tasks.

Creating a schedule is the most important step in time management. If you fail to plan, you plan to fail. Begin by listing all the tasks that need to be completed within a certain time frame. Once all of your tasks have been listed, it is time to prioritize. This can be a painstaking process for those who are not natural planners or organizers. However, it is time well spent in the long run.

3. Delegating Tasks

Finally, evaluate results. Did the task really need to be done? Did it really need to be done by you? Was the delegated task a success, and has the quality of your work been maintained? Post-delegation, it’s time to move on to another time management technique called prioritizing and scheduling. This is because when you delegate effectively, it should free you up to do work that is more important to you and your organization. Time management techniques are all interconnected and when practiced naturally turn into a continuous cycle that will improve every aspect of your work and personal life.

A tip here is to start small. Find a task that you know you should delegate because it doesn’t require your level of expertise or because it’s a low priority task. Ask someone who might be interested in this type of work, perhaps as a learning opportunity, and who you feel is capable of doing the task to help you out. Don’t just dump it in their lap and run. Take the time to clearly explain why you’re delegating the task, what your expectations are for the outcome, and provide some training or answer any questions they might have. Let them know that you are available for guidance and support while they work on the task. Remember you’re trying to set them up for success. And when they do succeed, make sure you give them recognition for their work. This will encourage others to take on more responsibilities in the future.

It can be tricky to start delegating, but it gets easier with practice. And the more you delegate to others, the more they will take on the attitude of ‘owning’ their work – taking responsibility for it and feeling proud of it which, if done well, will increase morale and job satisfaction.

Delegation is one of the most effective time management techniques for many entrepreneurs, and yet it can be a difficult skill to learn.

So you need to make the most of your time? And you’d like to do it by learning effective time management techniques that will make your days more organized and productive? Well, you’ve come to the right place. This article will provide you with an overview of time management skills, tools, and techniques that you can adapt to your particular needs, together with information on how you can learn these competencies. And, to give you an opportunity to put these new methods and tools to work right away, we’ll wrap up with some “step-at-a-time” suggestions for increasing personal efficiency.

4. Avoiding Procrastination

There are various thoughts as to why a certain individual likes to procrastinate. This kind of behavior is very complex, and the representation involving procrastination has been changing over time. As a matter of fact, in previous studies, one writer defined procrastination as “the act of needlessly postponing tasks, which often leads to a sense of shame or guilt and erodes self-confidence”. This definition, in many ways, captures the anticipated negative feelings that surround procrastination. An additional definition explains procrastination as “a form of self-regulation failure characterized by the needless delay of things one intends to do despite the expectation of negative consequences”. This definition emphasizes the inability to perform the intended task and the expectancy of a negative impact as a result of not doing the task. Coming up in a very recent article, Pier Steel, a researcher on procrastination, defined procrastination as “to voluntarily delay an intended course of action despite expecting to be worse off for the delay”. Steel added that everyone procrastinates but as an individual awareness of the negative impact of their action. Steel also suggests that procrastination has a contemporary nature. The emphasis on the time delay with the modern perception that “it’s too cold to go outside” or “this movie on TV is really good” creates the existence of procrastination. This concept of delaying a course of action, needlessly, from the original intent is the common thread in the complex and changing representation of procrastination.

5. Maximizing Productivity

Outsource! Have you found yourself spending too much time on tasks that are simple but time-consuming? This is what we call working in your business. It takes a lot of your time that could be better used and is not cost-effective in the end. The alternative is to work on your business. Outsource the task that is consuming time to someone else. This frees up your time and allows you to focus on other tasks. You won’t feel guilty doing this because you will find that often the time you free up will be used to do more work, thus generating more revenue. Always consider higher-paying work when outsourcing and minimum wages.

Eliminate distractions. Distractions are a major time waster. Anything that diverts your mind from the task at hand can be considered a distraction. They cause you to lose focus and can take up to 25 minutes to get back on track. It’s the little things that count, like switching the TV off during your work, exercising self-discipline, and avoiding the urge to check your email. It’s particularly important to effectively manage interruptions, which can have a large impact on time. Learn to say no when people interrupt you. People who seek your time will soon get the message.