Time Management: Managing Your Time Effectively

Managing Your 24.5 Hour Day

The biggest problem entrepreneurs have in time management is managing their 24.5 hour day because they try to wear all the hats in their business.  The trick is to learn to delegate projects to other employees or outsource the work.  As entrepreneurs with a limited budget, we want to cut costs by doing all the projects ourselves.  All this does is create stress, because there’s not enough time to do everything yourself.  To manage your time effectively prioritize your projects and decide how much time you’re going to spend doing each project.  Know your strengths and weaknesses, do those projects that work to your strengths and then outsource the rest.

 

The Things You Do That Waste Time

Lack of Priorities–doing project that isn’t helping you reach your goal

Perfectionism–do something without trying to make it perfect

Repeating your Same Mistakes–learn from your mistakes

Comparing Yourself–you are not managing your time when you compare yourself to other people by feeling jealous, bitter, or insecure

Trying to please everyone–you can’t—it’s impossible to please everyone because no two people will ever see things the same or have the same opinion

Unfinished Tasks–this takes away your time and energy

Complaining–this doesn’t change anything

The Fear–failure can hold you back

Not Living Your Life–this makes you unhappy.  You need to learn to say no.

Worrying About What Others will Say–do what fits you and your personality not what fits someone else

Doing everything Yourself–Learn to delegate or you will tire yourself out

Waiting for Inspiration–only when you’re busy do you get inspiration, not sitting around waiting for it to hit you

 

 

Practice the following techniques to become the master of your own time

  1. Carry a Day-timer to schedule your time, conversations and activities for a week. This will help you understand how much you can get done during the course of a day and where your precious moments are going. You’ll see how much time is actually spent producing results and how much time is wasted on unproductive thoughts, conversations, and actions.
  2. Any activity or conversation that’s important to your success should have a time assigned to it. To-do lists get longer and longer to the point where they’re unworkable. Appointment books work. Schedule appointments with yourself and create time blocks for high-priority thoughts, conversations, and actions. Schedule when they will begin and end. Have the discipline to keep these appointments.
  3. Plan to spend at least 50 percent of your time engaged in the thoughts, activities, and conversations that produce most of your results.
  4. Schedule time for interruptions. Plan time to be pulled away from what you’re doing. Take, for instance, the concept of having “office hours.” Isn’t “office hours” another way of saying “planned interruptions?”
  5. Take the first 30 minutes of every day to plan your day. Don’t start your day until you complete your time plan. The most important time of your day is the time you schedule to schedule time.
  6. Take five minutes before every call and task to decide what result you want to attain. This will help you know what success looks like before you start. And it will also slow time down. Take five minutes after each call and activity to determine whether your desired result was achieved. If not, what was missing? How do you put what’s missing in your next call or activity?
  7. Put up a “Do not disturb” sign when you absolutely have to get work done.
  8. Practice not answering the phone just because it’s ringing and e-mails just because they show up. Disconnect instant messaging. Don’t instantly give people your attention unless it’s absolutely crucial in your business to offer an immediate human response. Instead, schedule a time to answer email and return phone calls.
  9. Block out other distractions like Facebook and other forms of social media unless you use these tools to generate business.
  10. Remember that it’s impossible to get everything done. Also remember that odds are good that 20 percent of your thoughts, conversations, and activities produce 80 percent of your results.

Time Management Skills

You’ve got to be very careful if you don’t know where you are going because you might not get there.
Yogi Berra

Time Management is a process which will help you to focus your ideas and to decide what steps you need to take to achieve particular goals that you may have. It is a statement of what you want to achieve over a given period of time. Preparing an action plan is a good way to help you to reach your objectives in life: don’t worry about the future, start planning for it!

It involves:

  • Identifying your objectives
  • Setting objectives which are achievable & measurable.
  • Prioritizing your tasks effectively.
  • Identifying the steps needed to achieve your goals.
  • Using lists.
  • Being able to work effectively under pressure.
  • Completing work to a deadline.
  • Having a contingency plan