As a small business owner you’ve undoubtedly been in a position where it feels like there aren’t enough hours in a day. That’s where time management comes into play.
Great time management skills are essential to running a small business. A larger corporation may have the luxury of time, but not practicing sound time management can make or break small businesses.
Here are some reasons time management is vital.
Do More With Less Effort
It may sound counter-productive – accomplishing more with less energy expended – but by taking control of your time your focus improves. With increased focus comes better efficiency as you aren’t easily distracted, and you’re better able to maintain momentum. You’ll complete tasks more quickly, and the day will seem to fly by.
Time Is Limited
We each have the same amount of time available to us each day – 24 hours. To be more effective, you have to find a way to better manage this valuable, but limited, resource. Prioritizing and putting first things first is one way to address how you’re going to fill those hours.
Better Decision Making
When you’re pressed for time and have to make a decision quickly you’re more apt to come up with a quick answer before having thought the issue through. But when you’ve managed your time, you’re less stressed and more able to make decisions clearly without feeling like you must rush through the process.
The stress of always feeling pressed for time is very real and a potential health hazard. Moreover, it only increases if another (often inevitable) task is put on your plate as you’re rushing to finish the one you’re currently on. But when you’ve managed your time, you don’t have to subject yourself to that level of stress. You’ll give yourself enough time to meet a deadline without worrying about having to complete it in the last minute.
Dealing With Procrastination/Interruptions
Not practicing good time management on a daily basis leads to procrastination and finding other reasons to put off an important task. Additionally, you come to accept that interruptions are just part of the day, rather than something that can be greatly reduced by setting aside time for each task.
Taking Advantage of Opportunities
New and exciting opportunities will inevitably arise for your small business as you move forward. The key is being able to take the time to take advantage of them. You’ll also have the time to learn more about your industry and keep better track of what your competitors are doing.
Free Time Is Crucial
It’s important to unwind, but finding time for it can be difficult when you’ve poorly managed your time. Having good time management skills will help you find that time. Yes, you’re still busy, but you’re getting more done with the time you have.