August
13 - 2012

Time Management Tips for Business Owners

If you are running your own business, you may find it difficult to separate the time you devote to your business from the time you can spend with your family. You may feel like you need to be on call 24/7 in case something goes wrong with your company. And since you are the one in charge, your livelihood as well as that of others depends on you. This aspect of running your own business can amount to a lot of pressure, which causes you more stress and could put your health in jeopardy. One way to alleviate this pressure is to get business insurance, as it makes your business less risky to run.

Time Management takes off the pressure

Another effective tool for reducing pressure on any business owner is an effective time management system. If you know you are in control of how you spend your time, you can be sure you get everything done and your family may even get to see you at the end of the day. The first step when taking control of your time is to implement a rigid schedule for when to start work and when to finish. Make it clear to your employees as well as your spouse that you will be at work at a certain time every day and that you will leave at a specific time every evening. That way your staff knows during what hours they can get hold of you and not to bother you afterwards.

Spend your day where you can be the most effective

Once you are at work it is important that you spend your time effectively. Apply the 80/20 rule. Spend 80% of your time doing what brings you the most reward, whether that is calling clients, or developing new technologies for your industry. You know best what will be most beneficial to your business. Start your day by doing exactly that and leave the items that rank lower on your priority list for later in the day.

Eliminate all time-wasters from your day

During the day, try to eliminate time-wasters from your schedule. Do you run a daily meeting every morning that never yields any productive input from your staff? Either, postpone it to the afternoon and give your employees the chance to spend their mornings doing what is best for the company, or abolish it altogether. Instead, you could have “office hours”. Open your office door for a certain amount of hours every day, allowing your employees to come to you with any ideas, problems or questions they may have. Otherwise, keep your door closed, thus signalling that you would not like to be disturbed. This way, you can maximize your productivity and output, without fear of being interrupted all the time.

This article was written by AXAinsurance, get covered today!

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