Entrepreneurship is a profession that has an unyielding demand on your time. Going to meetings, carrying out orders, diving into analytics. Whatever it is, there is always something that your business requires of you.
Amidst this whirlwind of duty, mastering the art of time management becomes a vital skill that can make or break any entrepreneur.
Time management can be defined as intentionally using our time in the most effective way. It allows us to be productive and hard-working without all of the unnecessary panic and stress. It’s not about just squeezing in more tasks into your day.
Time management is about prioritizing wisely, putting your focus to what matters most, and maintaining a healthy work-life balance.
Why should we even care about time management? Many entrepreneurs do not utilize their time correctly and are always busy, which can cause poor performance and stress. If you properly manage your time, you will find yourself under less stress and less anxiety.
It’s common for us to have many responsibilities and chores to do, especially as an entrepreneur. Therefore, we need time management to ensure that we can accomplish these various tasks while also having some time to spare. That spare time can be used for friends and family along with numerous other things.
There’s a new season of your favorite TV show? You have time for that now. Your favorite NBA team is playing tonight? Thankfully you made good use of your time today so that you’ll have time to watch it. Effective time management allows you to be productive without sacrificing the joys of life.
Start Your Day Earlier
“Early bird gets the worm.” Start your day earlier so that you can have more time in the day. It’s as simple as that. Waking up early gives you a head start on the rest of the world.
If you constantly feel like you don’t have enough time in the day to do the things you want to do, then wake up 2-3 hours earlier and see where it takes you. If you wake up at 9, then try waking up at 7. Those two extra hours will prove to be precious to your productivity. Successful entrepreneurs swear by waking up early and utilizing it to be their most productive self during a busy day.
You can use this extra time to work on your business even further. On the other hand, you can allot this time to work on yourself. Going for walks, eating a sit-down breakfast, or going to the gym. Whatever it is, you’ll be thanking yourself for the extra time you gave yourself.
Prioritization
A lack of prioritization means a lack of organization and structure. Prioritization means saying “no” to things that are not important, and instead focusing on what is the most urgent and important. It is crucial to managing tasks, daily responsibilities, and projects effectively. Become familiar with yourself and your responsibilities.
Understand your personal and professional priorities to optimize your time. A great way to know your priorities is to create a to-do list, which thankfully, we are about to talk about in the section ahead.
Schedule/Plan Ahead
Your time is the most valuable resource. Having control over your time should be the goal for everyone. Planning out your day (or even your week) is the most effective way to gain control of your time.
Creating a schedule contains numerous benefits such as improved productivity, effective time management, and relieving unnecessary stress. This is something that every entrepreneur should be.
I recommend that you formulate a to-do list. This list can be made physically or digitally. Personally, I use an app called Todoist. It is an app that I have been using for over a year and has helped me keep track of my everyday activities and boost my productivity.
Whatever platform or method you use to make your to-do list, make sure it is a format that works for you. Categorize the tasks you put on your list based on importance and urgency, and prioritize them accordingly. Remember that you only have so much time in the day. Be flexible. Avoid cramming so as to not overwhelm yourself.
Make Time for Distractions
Our attention is bound to bounce from place to place. It’s just human nature. It is inevitable that we are going to get distracted. It’s going to happen anyway, why not do it intentionally instead?
Sometimes our brain needs a break. We can’t go full throttle for hours on end with no stops. Making time for distractions is an excellent way to give yourself a break while not sacrificing too much time.
If social media is your outing, then giving yourself 5-10 minute social media breaks is a great way to give into your craving without wasting as much time. Intentionally giving your brain a period of rest can help you to not be distracted during your productive hours.
Group Related Tasks Together
This is commonly referred to as “task batching”. It is when you take similar tasks and do them in a conjoined period of time to complete them in the most effective way. This is meant to prevent you from cognitively switching, or mentally jumping back and forth between tasks. It allows your brain to give your full attention on a specific task.
I started doing this and it did wonders for me. I was able to achieve more each day and bring less of a burden on myself. One thing I tried to do was group my workouts together. If on a particular day I was to both go to the gym and go for a run, I would do them in a fixed period of time. This also allows me to take one shower for all of my physical endeavors without feeling dirty for the rest of the day, saving me both water and time!
Find Ways to Automate
Hard work is not based on how much time you put into something, but the effort and results. Smart entrepreneurs utilize technology, such as artificial intelligence, and various methods to automate tasks so as to not spend hours of unnecessary labor doing the same thing that can be done by an automated process.
A great example of this is analytics. Previously, you would have to manually input data and analyze it yourself. Now, systems can be put in place to keep track of sales and trends, among other things. One way they do this is through digital spreadsheets. People in the ’80s and ’90s would be very jealous of what we have available today.
For one of my businesses I found that shipping out orders was taking the most of my time. I found a way to automate the process and it saved me countless hours and relieved me of the boredom that followed with shipping.
For Young Entrepreneurs
If you are a young and aspiring entrepreneur, then chances are you are still in school. I know it’s tough. You have to juggle the demands of your business and school and other extracurriculars. Balancing entrepreneurial pursuits along with education requires a lot of discipline and your time.
I would say that compared to older entrepreneurs, you need to be more flexible. You need to have a malleable schedule that can be adapted to the demands of school and obligations.
I beg of you to prioritize academics. Education is one of the best investments you can make for yourself.
Things To Avoid
Now that we have talked about what you should do, let’s discuss what you shouldn’t do.
One thing to avoid is putting too much on yourself. You can easily overwhelm yourself by expecting too much of yourself. Understand your limits and capabilities. Be realistic when assessing how much time you have.
More common mistakes include a lack of prioritization, caving in to your distractions unintentionally, procrastination, and most of all, multitasking.
If you can correctly review yourself and your habits, then you can make the necessary changes to become your most productive self.
