(Blog Series 5 of 10)

One of the important things for me when starting a business was time management because, after working fourteen to sixteen hours per day, I understood that there were other things that are also important in life. Maybe, for you, it was having more time to spend with your family, friends, traveling, or any other activity you may enjoy, but after having a business, you might be rethinking if you really are working less or spending the time as you wanted.

That is why it is so important for you to establish a time management process that works for you. When you are organized, it allows you to have time for those aspects of your life that are important to you. Because, as business owners, sometimes the only time we have is for the business.

In this 2024, you need to start respecting your time; if you don’t do it, no one else is going to do it for you. As a business owner, your time is one of your most valuable asset. Learn to guard it fiercely. This means saying ‘no’ when necessary and setting boundaries to protect your work hours. While it’s important to be open to opportunities, not every request or invitation deserves a ‘yes.’

Establishing a clear line between work and personal life is crucial for maintaining a healthy work-life balance. Carve out time for family, hobbies, and relaxation. Remember, a rested and rejuvenated mind is more productive than a perpetually stressed and overworked one.

Below, you will find some time-tested strategies that have not only helped me deal with the intrinsic difficulties of managing a business but have also paved the way for achieving my business goals.

Time Management Techniques

Time Blocking is the technique that has worked for me to try balancing work and personal life. The first thing should be to look at your calendar for the year and try to separate your vacation time. If you don’t put it in your calendar and plan around that it is going to be difficult to do so later because it will never be the perfect time. I also have one day for administrative matters. That day I look at my next two weeks and update my calendar as needed, meet with my team for updates and discussion of work performed and next steps, business development, etc.

There are multiple books and methodologies related to time management. Classics as “The 7 Habits of Highly Effective People” by Stephen R. Covey and “Getting Things Done” by David Allen are great references and with audio books you can even hear those while driving or traveling. Just make sure that you select the method or a combination of methods that work for you.

I remember finding and trying the Pomodore Technique. In a very simplistic way, it is a technique use to avoid multi-tasking where you focus on a single task for a period of time and then take a break after the period ends. I always have to do list so I only needed the timer, so I downloaded an App. I almost had a panic attack when I wasn’t able to commit to my 25 minutes on just one task. Again, try methods and look for something that works for you!

Setting Realistic Deadlines

When you commit to deadlines, but sure they are not unrealistic. Sometime in order for us to make sure we win a client, we agree to deadlines that we know are not feasible. Setting unrealistic deadlines can backfire, leading to stress and subpar work. That works against us and our team, especially when we do not meet them and we have an unsatisfied client and a burned-out team, Oh! And our calendar messed up! As a business owner, it’s crucial to strike a balance between ambition and realism when establishing deadlines.

If you are talking about deadlines for internal goals, break those into smaller, more manageable tasks with their own deadlines. This not only makes the workload seem less overwhelming but also allows for a steady and consistent progress toward the ultimate objective. Be honest with yourself about how much time each task requires, and set deadlines accordingly.

Guard your time

When you have meetings with clients, vendors, and other business-related matters, make sure you allocate sufficient time considering the agenda. Small talk is important to strong relationships, but you have to balance it to make sure that you discuss what you are supposed to discuss during those meetings. Make sure that you stick to the time allocated to avoid disruptions in your calendar and what to want to achieve during the working day.

Leverage Technology Wisely

From project management platforms to calendar apps, technology can be your greatest ally in mastering time management. Personally, I rely on scheduling apps to organize my day and keep track of appointments. Calendar alerts serve as friendly nudges, ensuring I stay on top of my commitments.

Experiment with different tools and find what works best for you. But remember, technology is a tool, not a solution in itself. Stay disciplined in using these tools and resist the temptation to get lost in the myriad features that may not contribute directly to your business goals. There is nothing worse than having multiple tools at the same time, paying for them, and using none of them.

Delegation is essential

Do not try to do it all by yourself! That would allow you to have more free time for the important stuff. Everyone needs to carry their own monkeys; I learned that the hard way. At the beginning, I was always doing everything for my team, thus the sixteen hours per day. I was working too much and not allowing them to learn and grow. If you haven’t read “The One Minute Manager Meets the Monkey”, another classic by Ken Blanchard, you should put it on your list.

Mastering time management is not just about squeezing more tasks into your day; it’s about optimizing your efforts to align with your business goals. By prioritizing tasks, setting realistic deadlines, leveraging technology wisely, guarding your time, and delegating, you can elevate your efficiency and inch closer to your entrepreneurial goals.

Remember, time is a finite resource, and how you manage it can make all the difference between a business that merely survives and one that thrives. Here’s to achieving your business resolutions and mastering the art of time management one productive day at a time!