Time Management Tips to Follow
When Streamlining Your Business
As an entrepreneur, your life gets a little hectic, and it can sometimes do a crazy dance with chaotic, especially when you’re just starting out trying to get your business off the ground. You have inventory to keep track of, meetings with vendors and suppliers, and employees to hire… The next thing you know, you find yourself asking “Where has the day gone?”
Needless to say, the beginning stages of your business will be extremely hectic, but that doesn’t mean that hectic has to be the “new norm” of your day-to-day operations. So what’s the solution here?
Effective time management skills are one of the most important skills to have as a small business owner, especially if you plan to eventually scale your business at some point. The great news is that time management is something that can be learned, whether you personally have good time management or not.
If you’re a small business owner and you’re constantly finding yourself saying that there aren’t enough hours in the day, then you’re not alone in this ordeal… There are some tricks of the trade that you can follow to help you stay on track and manage your time more effectively and efficiently.
Time Management Tips to Follow to Streamline Your Business
Put the Right Tools in Place
When it comes to running your business more efficiently, there are several things that take up a sizeable amount of your time. One of the best ways to kill one of those “time leeches” is to make sure you have the right tools in place… Automation is what’s going to save the day here.
Make a list of all the things that take up a lot of your time. Based on that list, see which tasks you can take and put on autopilot!
Inventory management is a task in running your business that is pretty time-consuming. The solution would be to find a software program that will help you in your day-to-day operations that lets you look at historical data to know the volume of products you need to order. JD Edwards Software is actually a great tool that’s fully integrated to not only handle inventory management but also supply chain, finances, and so much more. The goal is to streamline your business overall, and if you can find an all-in-one software program that will assist you in your efforts, that’s the better option for you!
As an entrepreneur, you’re going to be wearing many hats. But in wearing so many hats, it’s going to take up a lot of your time, leaving you little to no time to handle the more important aspects of running a business… You’re going to have to take off some of those hats and hand some responsibilities over to your employees and staff members.
Delegating responsibilities is actually one of the hardest things to do for entrepreneurs but it’s quintessential to do. In fact, according to Forbes, failing to delegate is one of the top four reasons why so many entrepreneurs experience burnout.
But in that same token, you don’t want to just hire any employee, either… a bad employee can be worse than not having employees at all. Loosen your reigns a bit and take time out to screen and interview potential candidates so that you can hire the best employees that will be a great asset to your team…
Hiring the right employees will give you more time to focus on your work because you can feel assured that your employees are doing their jobs without you having to come behind them and do the work for them.
Organize Your Workspace
You may not realize it but one of the things we do is waste time trying to find things. Clutter is something that makes it hard for anyone to focus or get anything done because they’re looking over and under things to get what they need. That’s not saying that your office has to be clean all the time, or that it will be clean all the time, but investing in storage bins, bookshelves, filing cabinets, and stackable desk shelves are simple fixes to help keep your office clean and easy to navigate through.
Commit to Your Tasks
Procrastination is one of the reasons why many people fail in managing their time. Instead of doing their tasks now, they would instead put the tasks aside for later. When you build this habit, the success of your business is also at risk. The OHIO (Only Handle it Once) method can help you get over procrastination. Commit yourself to every task you can handle given that you've already gone through delegating and automating some of your tasks.
Planning ahead is definitely one of the best ways to manage your time effectively, and the best thing about it is that it can be done in several different ways, for many different reasons. Planning ahead can mean taking necessary action to recession-proof your business, in the event that the economy takes a hard hit and business slows down.
Planning ahead can also be the actions you take to organize your day-to-day responsibilities and tasks. Maybe you put reminders in your phone for upcoming meetings or set realistic goals to reach each week… The way you plan ahead is completely up to you. The key is that it should improve your day and make your daily responsibilities easiest and less time-consuming.