Management Tips for Small Businesses

The old saying that time is money is quite true in almost all business setups. If you’re starting your own business, one needs to control time as best as possible. Microsoft conducted a study and found that most workers only used about 60% of their time. That means in a five day work week, they were only productive for three days. You know what that means – a lot less money!

For all the business owners, here are six tips to help with time management.

Small Business Time Management Tips

1. Ignore Your Email

Most people check their mail every five to ten minutes, wasting precious time. Simply set aside two time periods a day, to check and respond to your mail.

2. Don’t Multi-Task

Studies indicate only 2.5 % of people are truly able to effectively multitask and your IQ drops ten points when you are overly stimulated by email, texts and phone calls. Time management experts estimate focusing on one thing at a time will double productivity, work output and performance.

3. Set Step-by-Step Goals

Break larger goals into smaller steps, you will be able to more effectively accomplish your goals since you know exactly what steps must be done along the way. That in itself is already motivational. Also set your more important goals before lunch, so you can’t leave until you’ve met them.

4. Organize Your Time and Space

To increase productivity, clear and then organize your space. Eliminate everything that isn’t necessary, then create a system for the things that are. Another effective way is to get an egg timer, so you can race against the clock to finish your deadlines.

5. Put It in Writing

There’s something about committing to a plan in writing that somehow solidifies it in your mind. Some experts believe you should create this list the night before. That way, you’ll start the day prepared and not wasting any time.

6. Turn Your Car into an Office

All the wasted time sitting in your car waiting for the next meeting can be utilized by using your laptop or a portable fax machine. Just about anything you need to do business, use smaller and portable equipment.

It all boils down to time, so pay attention on how you’re spending it and make adjustments to help you spend it better.

Read more: moneycrashers


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