Effective Time Management for Busy Entrepreneurs
The first step in creating an effective time management strategy is to look at how much time you really have available. In theory, we all have 168 hours to spend every week, but once you take away the time needed for sleep, meals, commuting and other personal necessities most people are left with about 90 hours per week to divide between work and leisure.
Take those 90 hours, and break them down into one-hour chunks. For one week, keep a record of everything you do, one hour at a time. At the end of the week, you’ll have a very clear picture of exactly how you are spending your time. Then, you can begin to make adjustments to use your time more effectively. For the next week, plan your time in advance, one hour at a time. Try your best to stick to the schedule, and you’ll soon find yourself increasing both productivity and leisure time.
Although planning may seem to take some of the freedom and spontaneity out of life, it will actually help you find more time. When we don’t plan our time, it’s easy to lose more hours than we anticipate to time wasting activities such as watching TV or surfing the web. On the other hand, if you make a schedule and stick to it, you’ll find that you get more things done in less time, which ultimately means that you have more time to do the things you enjoy.
Another key to managing your time well is to draw clear lines between work time and personal time. As a business owner, it can be challenging to keep work out of your personal life. You’re personally invested in your business, after all, especially when you are first starting out. Often in our personal time we are focused on the million other work tasks we know we should be doing. However, it is important to give yourself a break. It’s difficult to grow a business when you are exhausted and stressed.
The basic principle of personal time management is simple: create a plan and stick to it. Of course you must remain flexible enough to adjust the plan when the unexpected occurs, but you must also know when to say no if something doesn’t fit into your plan and is not truly necessary. Time management is about finding a balance, and scheduling an appropriate amount of time for work and play will make you a healthier, happier, more productive person.
In business, time translates into dollars, and to remain competitive one must be able to manage their time effectively. Need help getting a handle on your schedule? Pamela Finnesand, The Business Maximizer can assist you! Schedule your complimentary Business Breakthrough Strategy Session today.
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