Do you love life? Then do not squander time, for that is the stuff life is made of. - Benjamin Franklin
A businessman has to deal with a lot of things, and often simultaneously. Time is money - much more money in case of a businessman.
To manage all the affairs of the business successfully, time management becomes a very crucial element for any businessman or businesswoman.
That's why it is said that a good manager is a manager only, but a good businessman is an entrepreneur as well as a manager, both rolled into one.
It is very much important that you always keep a vigilant eye on your time. If you're not able to manage your time effectively and efficiently; then you'll have to face many challenges and problems in your business. It would cause delays in the execution of various works, orders, etc.; and may be detrimental to the successful operation of your business in a timely and hassle free manner.
You'll find many tips and tricks at businesssman.com, which will help you in your business in many ways. Time management is one of them and has been discussed hereunder in detail for your benefit.
The Top Time Management Tips for Businessman are:
Everyone including you has got only 24 hours in a day. It doesn't matter whether someone is a worker, politician, CEO or businessman - each and everyone has to manage all the things in the equally God gifted 24 hours.
Thus, it becomes essential to adopt some better habits and ways of doing things to squeeze the maximum out of each hour, and in turn out of each day.
The top tips mentioned here would be very helpful to you to manage your time efficiently and effectively. You can make sure that you get success in your business by following these tips.
It is a must that you prioritize the various things and tasks related to your business.
A businessman or businesswoman will need to focus on the high priority tasks first of all. If you're not able to complete all the tasks on a particular day, at least you'll need to make sure that you complete the high priority tasks for the day.
You can divide various affairs of your business into the well-defined categories like a high priority, medium priority, and low priority.
A businessman or entrepreneur can devise a thumb rule to keep customer related tasks in the high priority category and internal tasks like housekeeping matters in the low priority.
You'd better apply 80/20 rule in your business, which implies that 80% of your revenue or profit would come from 20% of the customers or sales/service activities. You'd make sure to keep an eye on this 20% segment with high priority.
You need to plan ahead to keep things in order. You should begin your day with a plan containing the various important activities you'll complete during the day.
It would be much better if a businessman or entrepreneur prepare the plan for the next day in advance; ideally before leaving the office in the evening on the previous day.
A businessman or businesswoman would find it extremely helpful in managing and finishing the various daily and routine activities, as well as the high priority tasks with the help of a well laid out plan.
You'll need to keep some time in your daily plan for the unexpected visits or issues during the day.
Never leave till tomorrow which you can do today. –Benjamin Franklin
Utilize Your Commuting Time:
Everyone including a businessman or businesswoman has to spend a lot of time in commuting. You should include not only your commuting between home and business place but also the traveling required to attend various meetings, etc.
You need to utilize your commuting time efficiently and effectively. You can utilize your commuting time for many things such as checking your emails, going through the news, perusing your business documents, or making calls.
Organize Your Work Space:
You should take care to organize your work space in a proper way. A neat and tidy work space, which is clutter free, can help you in focusing on the important things.
An entrepreneur or businessman can take care of the various high priority tasks without forgetting one thing or the other, or miss an important document, and so on; by having a well-organized work space or area.
Eliminate or Reduce Distractions:
A businessman or businesswoman will need to eliminate or at least reduce various types of distractions, which consume his or her precious time.
These distractions also make you lose your focus and hamper the business work.
There are many distractions like an unwanted guest, local people, your acquaintances, and even some obtrusive authorities. You'll need to tackle them in a tactful way so that they take up the minimum amount of your time.
All said and done, a businessman or entrepreneur has to have some room for the unexpected events or visitors, which will take up his or her time invariably. So, some distractions you should make part of your daily plan for time management.
Learn to Say No:
You'll find some activities or tasks are not at all necessary. Still, you have to do them only for the sake of courtesy, or because some long time customer or a big shot ask you to do so.
Therefore, a businessman or businesswoman must learn the art of saying NO.
You can either say NO directly if the person is not very important for your business; or you can point out the lack of time, some urgent work, pending high priority task, etc. to the other person. It is quite possible that the other person would understand your situation and would not take up much of your time.
In any circumstances, you'll have to take care that you refuse or say NO in a very polite way. This will go a long way in ensuring your business success.
Identify Your Peak Energy Time:
You'll need to identify your peak energy time of the day.
You can reserve and handle the various complex tasks related your business activities in your peak energy time. This will help you in executing these complex tasks and activities easily and accurately.
A businessman or businesswoman faces many complex financial issues, vexatious tax matters, legal problems, etc. These require a lot of mental stamina and patience, you can tackle such problems in your peak energy time of the day.
Take Help of Technology:
You'll need to take help of technology to manage your time. In present day world, there are a number of devices and technical gadgets, which can help you in doing many tasks and in saving your time.
You'll find it convenient to use the calendar on your mobile or your PC to organize your tasks and the whole day.
A businessman or entrepreneur will also save a lot of time by having a good communication set-up with mobiles, bulk SMS facilities, instant messenger apps, email, etc. for communicating with customers, employees, suppliers, vendors, etc.
You'll need to master the art of email management for better time management. Email is must for any present day business, but it also causes a lot of problems in terms of unwanted emails, spam, etc. So, you'll need to have a professional email software to easily handle your emails.
A businessman or businesswoman can also outsource some of the non-core activities of his or her business with the help of technology.
You'll find that there are so many tasks and issues related to your business. But the time at your disposal is limited. The solution to this problem is delegation.
You can delegate a number of activities to your employees. You'll need to assess that you delegate the non-core or non-confidential activities while keeping the crucial and confidential activities with yourself.
You'll need to judge that the person to whom you are delegating your activities, is competent enough or not.
You should delegate the particular activities to a suitable person only. Otherwise, the results would be undesirable, and you may have to spend much more time to mend the things.
You can also hire a good secretary or virtual assistant for helping you in daily routine tasks like email checking, making appointments, travel arrangements, bookings, etc.
Efficient Meeting Management:
Meetings are notorious for being great time killers. You must make sure that your meetings are not so.
A businessman or businesswoman can do meeting management in a better way by having an agenda in advance.
It is a good and time-saving practice to share the agenda in advance.
You can also make sure that every meeting starts and ends on time. You'll better declare the end time of the meeting in the beginning itself, or still better in the shared meeting agenda.
Don't dwell in the past, do not dream of the future, concentrate the mind on the present moment. –Buddha
You can manage the day-to-day operations of your business in an efficient and effective manner with better time management practices. This will make sure that all the business activities and processes are being carried out in the best possible manner and without delays and disruptions.
Your good time management will go a long way in making sure that you run your business with roaring success.
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