Time Management Tips

  • October 30, 2019
  • By Sarah Solomon

Time is invaluable, particularly when it comes to business. Is your time making or costing you money?  Many business owners struggle with the concept of time management. You never seem to check off all the items on your to-do list. Then, your left with no time to relax and wind down from working all day. How do you change this?  From inventory to accounting, to marketing your company, there’s so much to do. It seems impossible.  

Fortunately, it’s not.  Time can become your business’s greatest asset if you use it wisely.  It can also help you maintain that work-life balance you’ve always dreamed of.  Here are a few tips from REIL to help you make sure you’re putting your time to good use:

1.  Set Goals 

Goals are crucial and encourage good time management skills.  Goals need to be clearly defined and attainable. Your business should have both short and long-term goals. This keeps your business on task and on track.  Many companies use the acronym “SMART” to assist them in defining goals. SMART stands for “ Smart, Measureable, Attainable, Relevant, and Time-bound.” Using the acronym is helpful in that SMART goals to provide step-by-step tasks to help you achieve success.  Most importantly, SMART also gives business owners a time table and estimation of when a goal should be reached. 

2.  Prioritize Properly

Once your business’s goals are set, it’s time to figure out the tasks needed to achieve them.  Prioritize your goals, and make sure you’re getting the right things done. For example, identify which goals are important and urgent.  If a goal falls into this category, the tasks need to be completed right away. If the goal is solely important, but not urgent, it can be postponed for a later date.  If the goal is urgent, but not important, delegate this task to another employee or co-worker. These tend to be the little, nuisance tasks that people tend to forget to do.  Finally, anything that’s not urgent or important does not deserve you or your business’s time.  

3.  Plan Ahead 

Before getting to work, your company and it’s employees should always have a game plan.  Make employees aware of what needs to be done the next day. This could be done by sending out an email blast.  You can even allocate 15 minutes at the end of each day to address the company. Or, vice versa, arrive early and address the company prior to starting.   If you do so, employees can plan their time wisely prioritizing tasks that require completion. In other words, encourage working smarter, not harder.  Employees will appreciate knowing exactly what they need to accomplish each day rather than wasting time figuring out what they should be doing. 

4. Eliminate Distractions 

Start keeping track of the number of times you become distracted during the day.  Find the cause, and work to eliminate it. Typically, it is easier to put your phone away/down once you realize it’s use is not conducive to achieving your goals.  Smartphones are great but are known as the most insidious time-wasters. Build up your will power, shut the door, and turn your phone off. You will be amazed by how much you were able to get done.  Think about all the time you allot to social media, conversations, and distractions.  The amount of work you can get done in that time is endless.  However, REIL recognizes breaks are important.  While you allot time to eliminate distractions and work, be sure to allot time for breaks.  Breaks are important for maintaining your drive and well-being. 

5. Take Time for Yourself

Simply put, time is money. Although time is money, it is important to take time to take care of yourself.  All work and no play causes one to become tired, cranky, and overworked. Make sure you have some free time each day to spend it on the people and things you love.  Doing things outside of work and your business is essential for your mental health. It also helps to maintain your passion for your work, rather than encouraging your demise for it. 

REIL Advice 

Time management is life management.  Leaving time for both work and leisure is not only significant for your companies success but your overall well-being.  If you struggle with finding the time to achieve your goals and lack the funds to do so, contact REIL today for stellar advice and quick funds.

 

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