Business management: what makes for the best time management?

Written By Steps To Faculty Published May 28th, 2010

Working for yourself is a great thing in so many ways: it offers freedom, a sense of achievement and satisfaction, and it allows you to make your own hours and to work (more or less) on your terms. However, many entrepreneurs also work long hours, work when they really do not want to, and find themselves neglecting the important things in life – like family. Below are a few steps for finding more time for yourself and those you love.

Step 1 Prioritize, Prioritize, Prioritize

What are the things that are most important to the firm? What things are going to take the most time to do? What things will most help you achieve your objectives, short-term or long-term? The key to time management is figuring out what is most important and doing those things first. For example, paying yourself before paying the bills is a good first step towards achieving financial solvency; getting that tough, time-consuming project out of the way – because it means a lot of money in the bank – is always preferable to hitting the golf course; and carrying out a simple cost-benefit analysis – what is this going to cost me if I don’t do it and what will I gain if I do it? – will give you a pretty good idea of what you should do now and what can wait.

Step 2 Do the tough stuff first

Each day, as a small business owner, you are confronted with things you do not want to do: it could be going to the bank to talk to a loan manager; it could be dealing with a difficult project; or it could be dealing with a challenging client. The best way to deal with the “tough stuff” is to do the tough stuff first: do the unpleasant tasks at the start of the day when you have the most energy and when you have the most time ahead of you. Leaving things until later in the day, when you are tired, distracted or simply wanting to call it a day, will just make things worse – and you will not be as productive or as efficient, either. Consequently, the “tough stuff” will take that much longer to do.

Step 3 Make time for the things that matter to you

Family is precious; many entrepreneurs realize it too late. Put bluntly, you do not have to work every day – and, after a certain point, you just start working for the tax man, anyways. Given that, it makes a lot more sense to have at least one day out of the week that is your day to be with the people you want to be with and to do the things you want to do. You will not regret it.

Time management is never easy: we all have things we wish we never had to do; we all have people we wish we could avoid meeting. Still, prioritization, tackling the tough stuff early, and making time for yourself will enable you to avoid being a spectator in your own life.

Roger Due

Investing in Your Destiny® & Coaching Program - Wealth Building Summit Dallas, Texas

My name is Roger Due and I am from Albuquerque, New Mexico and I am the owner of the Monsano software company. This has been an absolutely fantastic conference. This is the best I have ever been to.