Time management is an invaluable resource because in business, time is money. There is a limited supply of time, no more can be created, and we each have the same amount. So, the best thing we can learn to do is to use it wisely through the utilization of workforce management. At PayTech, we know how valuable your time is, and how costly it can be to waste it. We want to give you more for your bottom line, and saving you time is a good way to do that. Here are some time management tips for small business owners we’ve found that can be used in conjunction with our business solutions to give you more time, all the time.
There’s no Time Like Time Management
These time management tips for small business owners will help you to head your company in an accurate and efficient way, so you can get back to the work that matters most.
Time Management Pro Tip #1: Time Tracking
The first step in successful time management is knowing how to manage your time efficiently. Tracking your time will allow you to see where you are spending your time doing unproductive things. Track your time for a week, note the task or activity, how much time it took, and where you think time may have been wasted. Make sure employees are accurately accounting for the time they spend and their attendance. There is time management software available to further free up your time.
Time Management Pro Tip #2: Schedule Your Time
Scheduling tasks roughly on a calendar and setting a time-frame for each task is a useful routine for staying on track. If you have a deadline to review a proposal, be sure to schedule it far in advance while giving yourself enough time to do a thorough job. Move on when time is up, though, so you don’t get stuck on the small stuff. Don’t forget to schedule breaks so you have extra time to deal with distractions such as impromptu meetings, customer calls, or email. Before leaving work for the day, write a to-do schedule for your day tomorrow.
Time Management Pro Tip #3: Prioritize tasks
Trying to write a bulletin when payroll needs to be done by tomorrow, is one example of not prioritizing your tasks properly and efficiently. Knowing which tasks need to come first can help you spend your time more wisely, causing you less stress. I like to use the A, B, C, D method of prioritizing.
“A” tasks are things that are time sensitive, important, and have consequences if not performed.
“B” tasks are not urgent, but very important and should be done because of their value.
“C” tasks are not important, yet are urgent or time sensitive; these tasks may be postponed without significant consequences.
“D” tasks are tasks that you would like to do that are not urgent or important, and can be done when there is time.
Time Management Pro Tip #4: Make Deadlines
Setting deadlines is a way to set your business up for success. Having a list of deadlines on hand you will always know what work needs to be completed, and when. Deadlines are an integral part of making sure things get done in a timely fashion and keeping your business running smoothly. Also, ensure proper leadership is in place to ensure deadlines are being met by others.
Time Management Pro Tip #5: Delegate
Sometimes you may be asked to do things that other people could do, or are better suited to do. Organizing tasks by who can do them helps this process as well: tasks you have to do, tasks you can do but others can help, tasks others can do but you can help, and tasks others can do. Another important part of this is to ensure you hire the right employees in the right roles to get the job done.
PayTech Can Help with Time Management
Whether you’d like to get more value out of your work time, or you would like to increase your company’s productivity and performance, time management can make it happen. Even small things such as shaving minutes off of tasks you need to complete, or making sure employees hit a deadline can make a big difference. PayTech offers professional assistance and tools such as Payroll Plus, and Go-Hire, which will help your time management skills improve dramatically so you can get back to do what you do best, run your business! For more information, call 602.892.4796.