So, you’ve started your own business. Well done! But what a culture shock, especially if you have just stopped working for someone else.
In your last job, there were probably other people to do the different things demanded by the business. But now, it’s all down to you. Even if you have employees, you will need to be across a lot of things in your business and ensure they are happening.
Accounts: that’s you. Dealing with important clients or complaints: that’ll be one for you. Making sure the marketing is happening: you again. Who fancies a coffee… yep, you better put the kettle on.
You get the idea. To survive your first few years in business you need to be like an octopus with eight arms constantly doing things.
But realistically, it’s not possible to operate at full capacity like this for more than about 12 hours a day. The human body and mind just can’t do that in the long-term and it’s the quickest way to burn out. So you need to smarter about how you use your most precious resource: your time.
Here are Bytestart’s ultimate time management tips for business owners:
Accept you can’t create time
There are only 24 hours in a day. You need 7 to 8 for (proper) sleep, a couple for rest and relaxation, and probably another hour for comfort breaks, eating etc. That leaves you 13 to 14 hours a day for your baby (aka your business). The first principle of time management is that you can’t expand that time.
You can’t create time by giving up sleep or decent meal breaks. Yes it will buy you some hours in the short-term, but there will come a point where your body is so exhausted that you become ineffective. So you need to make the most of the time you have every day.
Set goals
The best way to make the most of your time is to know what you must achieve each day. Business owners who are goal driven tend to achieve more than others who just bumble along.
Ideally you should have a goal for every day. It could be as simple as finishing a project, or making ten phone calls. Your goal should be realistic and easily measured. Get in the habit of writing your goal down every day and give yourself a tick when you’ve achieved it. Your brain is wired to reward you for achieving things in this way.
Make a list
Before you can get stuff done, you have to know what needs to be done. Get in the habit of creating a list of tasks every day. Every single thing you must do goes on the list; even tasks you repeat every day. That way the list becomes important.
Remember that reward your brain gives you for achieving things… it works with small tasks too. You can’t beat a bit of paper for creating your task list. Use a new piece every day. If you’d prefer something a bit more hi-tech, use the ‘tasks’ function in the email program Microsoft Outlook. Online there are good free task managers at www.todoist.com and www.RememberTheMilk.com.
Prioritise your list
Each task should now be assessed by two factors: urgency and importance. Steven Covey, the author of “7 Habits of Highly Effective People”, suggests drawing a simple grid with four sections. At the top write ‘Urgent’ above one box, and ‘Not Urgent’ above the other. On the left write ‘Important’ next to one box and ‘Not Important’ next to the other. You can now classify tasks as A, B, C or D.
A tasks are Urgent and Important. An example is dealing with a complaint from your biggest client.
B tasks are Important but Not Urgent. This could include planning a project or returning client calls.
C tasks are Urgent but Not Important. These will be incoming calls or other distractions.
D tasks are Not Important and Not Urgent. Think people trying to sell you stuff on the phone!
Know where your time is going
Keep a simple diary for a few days to see where your time is actually going. I bet you’d be surprised how much time you spend dealing with emails!
If a diary isn’t accurate enough for you, try a free online time tracker like www.Toggl.com. Get into the habit of limiting the time you spend on non-important things, for example only looking at email twice a day.
Delegate more
Got a team? Give them more of your tasks to do. They can manage it; it’s only you that’s holding them back. Introduce tasks slowly, be very clear about how you want them to be done, and give them space to get them wrong before they get them right. Yes, yes, no-one can do tasks as well as you, but you don’t have a dog and bark yourself, do you?
Don’t waste a second
Get a mobile device to handle emails and read documents on the move. Load your iPod with audio of seminars and courses to learn while you drive. Keep a business book in your bag for 5 minutes of spare time. And remember to always keep your notepad with you, so you can capture tasks as you think of them.
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