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Small business owners are some of the hardest workers. Given they aren’t necessarily workers but entrepreneurs, they go above and beyond to ensure their amazing businesses blossom into success. With this level of responsibility comes the difficult task of time management. Whilst working a 9-5 job offers the parameters for work and life balance, optimising your time as a small business owner can be difficult, especially when trying to perfect that balance.
In this blog post, we will share the essential tips to take on board if you are looking to make the most of your time as a small business owner. Time management is such a difficult skill to perfect, but by setting the right foundations, you can make the most of your limited time, whilst also allocating the essential periods of mental rest and leisure. Take a look at the following suggestions:
Plan and prioritise
When was the last time you planned your week in advance? As in, plan for each hour of the day, with contingencies in place in the event of higher priority tasks come to light. Many of us set out to follow a plan, but fail miserably at sticking to it for more than two weeks. If you want to make the most of your time, you need to make planning your week a non-negotiable. After all, as a first-time small business owner, you likely feel like all the time in the world is not enough.
Invest in a compact calendar to take with you day to day. You may prefer to keep your calendar digitally on your phone, but there is something about writing what you need to do down that makes it almost ‘locked’ into the week, and easier to remember.
Now, list what you need to do this week, and number them by priority. Have an essential meeting with a client first thing Monday morning? That will be a number one property. Or, group your tasks into negotiables and non-negotiables. Do you have a store location that needs new decor? That can be a negotiable task subject to move should something more important come up.
Assigning your tasks for the week with a level of priority allows you to get the more difficult tasks done, without allowing room for procrastination. Also, be sure to do your most difficult tasks in the morning. You will have the most energy and concentration for the day, and you won’t be distracted by the afternoon slump that hits us all!
Group smaller tasks
Smaller tasks are the annoying admin jobs that seem so insignificant, yet need to be done for business to run smoothly. This can be paying vendors, responding to emails, or speaking with clients to provide them with updates. These tasks likely require less brain power than more urgent matters so leave these tasks to be done within the hour following the afternoon mark. The last thing you need is for these small jobs to snowball into a big problem, so get them done one after the other, and leave more time for the tasks that matter most to you.
Set yourself targets
Perhaps you have come from a sales background where targets are the bread and butter and the job. Or, maybe you have never set yourself targets and do not see the use in them. The truth is that setting yourself targets as a small business owner is just as important as if you were to set targets for your employees. Having a goal keeps you moving forward, which also means progressing. Have short-term targets such as completing 2 proposals a week for prospective clients, and also have long-term goals such as reaching a certain level of net profit after 12 months. Displaying your goals somewhere you can see them daily can act as a reminder of what you are working towards, especially when things get tough and seem so out of reach.
Take advantage of technology
Technology should be your best friend. There are now thousands of virtual hubs and AI applications that are designed to support small business owners on their journey to success. From data security platforms to chatbots to CRM systems, you have practically created your business-integrated systems all by educating yourself on these platforms.
One way in which you can take advantage of technology to support your business is by optimising your site and making sure that you appear in search engines for relevant terms. One easy way you can do this is through a digital marketing blog strategy, where you write blog posts that are optimised with keywords that will then mean that your site will appear in search results. This should be considered alongside a more strategic marketing and SEO strategy.
Be sure to research ones that are tailored to your business operations, whether you offer B2B online services to physical e-commerce stores, there will be a digital tool out there designed to make your life much easier.
Outsource mindfully
With this in mind, you also need to be mindful of how much you reply to external parties. Whether it be digital programs or virtual assistants, make sure that you are trusting your business with a reputable company or individual. For example, you may outsource your customer service to a virtual assistant. This assistant needs to have a clear understanding of your business’s tone, procedures to follow based on different enquiries, and a cost limit for customer service. It may be more cost-effective for your business to replace a broken item as opposed to letting them make a return, so make this clear to the external managing bodies. It is also important to make sure that you have full control of your customer’s data to ensure you are not breaching any customer protection rights.
Clear any distractions
It would be an unrealistic expectation to suggest that all distractions can be dispersed. It is estimated that we as humans only have a 45-minute attention span before our minds wander onto a different thought pattern. With this information in mind, you can take control of your distractions. For example, allocate 45-minute windows of deep focus, and save small, lower-priority tasks for your concentration break. For example, you might be an independent lawyer working towards retrieving your client’s fraud refund. When you feel your focus shift, consider creating a LinkedIn post to boost your social presence for 15 minutes, then return to the longer task. This break therefore is not considered a pause of work, but you are simply giving yourself time to invest in other tasks to provide your mind with the distraction it craves.
Allocate time for self-care
Did you know that entrepreneurs are predicted to take the least holidays out of all working professionals? We are talking to you small business owners, but we are not surprised. After all, working towards financial freedom and bringing your business to fruition is not a simple part-time job. But, to really be the best version of you, rest is essential. That is why each day you need to allow yourself at least an hour or two of self-care. Self-care means something different to everyone. It might be hitting the gym, running a bath, watching your favourite TV show, or even spending time with your family without devices. Whatever it is, make this time non-negotiable each evening. Also, book that trip! Tasks will get done before you leave with the right planning. Allow yourself to detach from responsibilities, and know that things will run smoothly the following day even without spending 24 hours worrying!
Bottom Line
For first-time small business owners, time management is what will get the better of you before anything goes wrong. Taking control of your time now rather than later will set you up for success, and ultimately contribute towards marginal gains. The small hours that get lost in the chaos of the day are likely the ones where most progress will be made. Take control of your schedule, and be your own boss.