Effective Time Management Strategies for Entrepreneurs
The issue of time management cannot be overemphasized. It is a key factor in running a successful coaches and business owners.
Time is a very important resource and we all have it in equal proportion. But sometimes, it just feels like we don’t have enough of it. We hope that we have more hours added to the daily 24 we get. Don’t beat yourself; I’ve been in that place too. So have many other successful coaches you’ve known.
Thomas Edison said;
“Time is really the only capital that any human being has, and the only thing he can’t afford to lose.”
Time management is a hot topic among business owners. This is because running a business is hard work and time demanding. If you run a coaching business, you understand how much you need to manage your time.
Time management is about planning the amount of time that is allocated to specific activities. The allocation should depend on certain priorities. This will ensure that the right amount of time is given to the right activity. The end game is to improve effectiveness, productivity, and efficiency.
Time management is a skill that you can learn, develop, and master. Trust me; nobody was born with the ability to manage time. The best time managers learned and applied the skill with consistency. It only looks like they are naturally gifted to manage time because they’ve mastered it.
You can be effective in time management too. You only need to apply some strategies that I will share with you much later. But first, let me clarify some things.
Shattering the Myth…
Time management isn’t about doing everything. That’s way too ambiguous. The truth is that you can never do everything. So, don’t go about thinking that you can do everything when you learn to manage time.
In reality, time management is about two specific things:
- Accomplishing MORE tasks: Time is a limited resource and there is a limit of what you can do with it. But, within the limit of time you have, you can do more work. Let’s say it takes you three hours to accomplish one task. You can work your way to accomplish two or three tasks within that time frame. That is what time management is about.
- Accomplishing the RIGHT tasks: One of the challenges I’ve seen is that we sometimes set out to do one thing, and we end up doing another. The end result is having a lot of unfinished tasks because you want to do more. Doing more is great if you can finish them. Time management helps you to prioritize and focus on the right tasks and finished them.
Why Time Management?
Like I said earlier, time management is very important for you as a coach. The coaching industry has evolved. You can now run a multi-million dollar coaching business. With this comes a lot of responsibility. Your time gets squeezed so tightly that you almost get overwhelmed. This is the most important reason why you need to manage your time.
There are other reasons why time management is important.
- It helps you simplify tasks: Clutter can be a nightmare. When there are so many things to do, you sometimes get confused. That can be frustrating. Time management helps you get organized. It helps you know what to do and when to do it. You don’t get overwhelmed by the tasks you need to tackle. Your tasks are organized and simplified.
- It gives every day a structure: With proper time management, your day is figured out from the get-go. You know where to start from and where to be at the end of the day. Every hour you spend in a day counts for something. Without a plan for the day, you end up achieving little or nothing in the end.
- It increases productivity and efficiency: With effective time management, you get more work done. Not only that, you focus on important things. You only get to focus on tasks that have a tangible positive effect on your life and business. It is possible to spend time doing so many irrelevant things in the name of accomplishing more. So, time management does not only make you more productive, it makes you more efficient.
How Do You Effectively Manage Time?
Everything I’ve said before now is baseless if you don’t know how to manage your time. Maybe you’re trying out some strategies and it isn’t working for you, here are some effective strategies to implement.
- Get Your Act Together
The reason you aren’t achieving much in life and business could be that you are way too disorganized. Your office is scattered, your living room is in disarray, and your life and business takes the same pattern. You need to get a little more organized.
Sometimes, if not all the time, stacking up and scattering your desk with files and documents affects you negatively. It makes finding anything on your desk a lot more time-consuming.
Okay, yours is not your desk, but your personal computer. You have files scattered all over your computer that it can take ages to locate some of them. You even stuff your drive with things you don’t need.
You need to get a little organization into your life. This is where you begin your journey to being effective with time management. You eliminate some of these unnecessary things that feed on your time. You can label your files and documents for easy access. Arrange them on a shelf or any place where you can reach them easily if you need it.
If there are files you no longer need, get rid of them. If you are keeping them as relics, then separate them from the ones you use on a frequent basis. You get to reduce the clutter that takes up your time.
- Make Effective Use of Your Prime Time
Your prime time is the time you are most productive. At this time your creative juices are flowing and you can take challenges. You have high energy, focus, and personal motivation. At those times, you feel you can do anything. This is the best time to undertake complex tasks. You want to face your most challenging tasks at this time.
Your prime time is also the ideal time to plan and map out strategies for your business. At that time, your mind is at its best. Your creativity is on a high. It is easier to think out solutions for challenging issues at that time. This is important because you spend more time doing it at your “dip” time. And there’s no way you can get the best.
When energy is low, you can undertake repetitive tasks. You can do things that don’t demand much time and energy.
The amount of task you accomplish at your prime time is a function of how long it is. It could be 2, 3, or 5, even 10 hours. If your prime time interval is short, you should work towards expanding it. For instance, let’s say your prime time is between 1 am and 3 am. To achieve this you have to take dinner at 8 pm and sleep at 9 pm. If you adjust your dinner time by 1 hour, you can add it to your peak time. So if you have dinner at 7 pm and sleep at 8 pm, you could be awake from 12 am to 3 am. You would have got more time to do the complex stuff.
There’s no template here, everyone is different. It is important you identify what time works for you and make effective use of it.
- Delegate When Necessary
You can’t do everything. Even the things you can do, you mustn’t do them all. You have to let people help you. If there is a task someone else can do better, delegate. You will be able to save time that you can channel to other tasks.
One of the key benefits of delegation is that it helps you work on your business, and not in it. You may feel that no one can be more efficient than you. That is the reason you are micromanaging everything and you don’t seem to scale.
If you want to be effective in time management, you need to play to your strengths. When you spend so much time on your business, you can run it efficiently. For every time you spend doing stuff that you could have delegated, there are aspects of your business that suffer. Planning, strategizing, and building a successful business is easier when you learn to focus on your strengths and delegate the rest.
- Learn to Say No to Distractions
Nothing wastes time like distractions. It can mess your day up like a torn pair of pants. When you allow distractions, you end up throwing precious time away.
To be effective in managing your time, you need to be focused. Learn to identify distractions and shut the door on them. It can be very tempting, but you need to keep your feet down.
You can’t have important things you want to achieve and you give room for distractions. Idle chit-chats can be time misspent. I’m not saying that you can’t have some fun time. You should plan your day and know the things you want to do and when you want to do them. Anything that is not part of the plan should not interfere, especially when it comes to your business.
Being focused on a task ensures that you do it with excellence. Allowing distractions will only produce a haphazard and below per result. In the end, the time spent on that task becomes a waste. So, learn to shut out distractions when you are on a task.
- Leverage Time Management Tools
One of the weaknesses everyone struggles with is forgetfulness. You plan to do something and you forget. Sometimes we remember after the time set for the task had gone. You can relate to that right? That’s human nature. But, there are tools that are available to help keep our ever wandering minds in check. There are tools ranging from the good old planners and organizers to high-tech apps and software.
Any good management tool must have a time planner – whether it’s a loose-leaf binder or an electronic device. It should be able to help you capture all your tasks and required actions as they come up. That way you can schedule tasks to days, weeks, and even months. Put these, and your personal needs, into consideration before employing any time management tool.
Are You Ready to be Effective in Managing Your Time?
I’m sure you are – you’re all fired up. But, you need to get back to the basics and evaluate yourself. How much do you value your time? Do you keep track of the time spent undertaking a task? These are crucial questions you need to ask yourself. It will help you understand how badly you need to manage your time.
With that understanding, implementing the strategies I shared will be a breeze. Just to recap, these strategies are:
- Get your act together. Be orderly and organized in your everyday life.
- Your prime time is your most productive time. Use it well.
- Spend time in strategizing your business for growth. Delegate any task that is not your strength.
- Distractions are time killers. Avoid them and focus on the task at hand.
You can rely on time management tools to help you.
If you need help implementing these strategies in your business, simply click here or use the button below to schedule a free breakthrough call with a member of our team.