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Time management for small business owners
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Time management for small business owners

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A session providing some useful tips for small business owners when attempting to plan their time.

A session providing some useful tips for small business owners when attempting to plan their time.

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    Time management for small business owners Time management for small business owners Presentation Transcript

    • Time Management for Small Business Owners Stuart Hartley Senior Consultant
    • Time Management Time flies like an arrow Fruit flies like a banana Source Groucho Marx
    • Marketing Sales Administration Finance Production Delivery Planning IT Managing
    • Emails Meetings Travelling Reports Phone Calls Messages Social media
    • Time Management is the ability to management yourself in any given block of time and to do this consistently over many blocks of time. This includes expecting to do more than you really can in these blocks of time. You cannot manage time only yourself
    • Benefits of time management •Reduce stress and frustrations Improves performance and job satisfaction More time to enjoy life Have control over your life through planning Get a sense of achievement
    • Time management strategies Quad 1 Crises Pressing problems Deadline Drive Quad 2 Prevention Assessing / reporting Relationships Quad 3 Interruptions Some email / reports Meetings Quad 4 Trivia Time wasters Procrastinators Urgent Not Urgent Important Not Important Covey’s Matrix
    • Important activities have an outcome that leads to the achievement of your goals Urgent activities demand immediate attention, and are usually associated with the achievement of someone else’s goals, or with an uncomfortable problem or situation that needs to be resolved
    • •Quad 1 – Urgent and important −Anything deadline driven −Pressing issues and crises −Genuinely important issues that could have a significant effect on the business now or in the immediate future
    • •Quad 2 – Important but not urgent −Preparation −Prevention −Planning −Relationship building −Any task that is genuinely important to the business without a deadline
    • •Quad 3 – Urgent but not important −Interruptions −Phone calls, emails, unplanned meetings −Many things that you choose to do first!
    • •Quad 4 - Not important and not urgent −Trivia −Some phone calls / emails −Escape activities
    • •Optimal balance Quad 1 25 – 30% Quad 2 15% Quad 3 50 – 60% Quad 4 2 – 3%
    • • Failing to plan is planning to fail − Plan each day, each week, each quarter − You can change your plan….only after you have one.
    • •Planning exercises −Time flies −Estimate before you start how long a task will take and when finished compare with the actual −Where does you time go? −Track your time for 2 weeks by grouping tasks into 5 – 10 key categories
    • •Prioritised to do list − Write down all the tasks you need to complete − Break large tasks into their component elements − Allocate priorities from A (very important, or very urgent) to E (unimportant, or not at all urgent) − You need to differentiate between urgent and important − Rewrite the list in priority order − Take action immediately and finish them one by one − This helps you to focus on the important jobs first
    • •The Top 4 −Identify your top 4 tasks for the week and for each day −Physically write them out, to give them a tangible form −Put your top four tasks in priority order −Complete the first one on the list before starting anything else −You need clear goals in your life to decide the top 4, and motivation to complete the task
    • •Utilise time gaps −Time gaps are intervals of time free of activities −E.g. gaps between meetings, in a queue, waiting in your car −Discover where you are likely to experience small, wasted gaps of time −Utilize them to finish tasks that can fit in −Examples of utilizing them effectively: −Make calls while waiting −Read up something −Prepare for the upcoming activities
    • •Learn to say NO −Do not say yes when you don't have the time, motivation, interest or skills to do the task −Say “no” to tasks that have little impact on your targets −Prevent stress −Avoid overworking
    • Summary • You cannot manage time only yourself and how you spend your time • A small business owner has to do many tasks and wear many hats, find the right balance between all of the key categories (sales, marketing, finance etc) without neglecting the one you don’t enjoy • There are many different time management activities, find one that works for you and try to stick with it. Not every activity will work for you. • Whichever time management activity you decide to use prioritise time for planning activity – FAILING TO PLAN IS PLANNING TO FAIL