Time management tips

As a business owner, you quickly learn that your most precious resource is time. The way you manage your time can make or break your business. To maximize your time and energy, try these tips:

1. Figure out what organizational system works best for you. Do you use a paper day planner? An online calendaring system? A PDA? You don’t necessarily need the latest and greatest organizational system; you simply need one that works for you.
2. Keep all your scheduling information in one place. Use that one system to write down all of your appointments and deadlines. This includes both business appointments and personal obligations. By putting everything in one place, you can easily see if you’re promising to take a client to dinner on the same evening you’re going out of town.
3. Maintain a to-do list. At the end of every day, take 10 minutes to jot down your goals for the next day. The list needn’t be exhaustive, but should include any items that absolutely must be done (“Email proposal to Client X,” “File quarterly taxes”), and any appointments or meetings, as well as some time to work on ongoing projects. Also maintain an ongoing to-do list of long-range projects.
4. Schedule your toughest projects for when you’re fresh. Some people do their best thinking in the morning; others don’t get fired up until 3 in the afternoon. If possible, try to schedule your day to take advantage of your natural “up cycle”—so, if you’re a night owl, don’t set a big presentation for 8 a.m. When you find your energy flagging, don’t force it--use that time to work on less challenging tasks like replying to emails or organizing your paperwork.
5. Use tech tools wisely. Arm yourself with the technology you need to make the most of time. If you’re on the road a lot, invest in a laptop, smartphone and other tools to turn downtime into productive time.
6. Take control of communications. Email and phone calls can sap your productivity if they become constant interruptions. If you need to work on a project, set your phone to go direct to voice mail so you won’t be distracted. Set regular times to check email and voice mail—say, every 2 or 3 hours—instead of responding every time you get a message.
7. Make time to think. As your business grows, it’s easy to spend all your time putting out fires, answering questions and dealing with urgent issues. You must also make time for important long-term issues (How do you plan to increase your market share? What new positions do you need to fill in the coming months to meet your growth goals?) Get to the office a few hours before everyone else does, or stay a few hours later, so you have uninterrupted time to think. Or use your laptop to work at home or at a coffeehouse for a few hours. A different work environment can help spark new and creative ideas.
8. Delegate. Many business owners find themselves in a time crunch because, even as their business grows, they insist on being hands-on with every aspect of the company. This attitude will cripple your growing business. Hire people whose strengths complement your weaknesses; then delegate to them. Ultimately, you’ll yourself up to do the long-range strategizing that is crucial to business success.