As entrepreneurs we wear many hats, a difficult and distracting task. Critical in managing tasks is to focus and prioritize. ‘Don’t forget important while rescuing the urgent.’The small items may be easier to tackle but these are often time hogs, distracting from the more productive big picture. So start working in the business not working on the business.
Do not undervalue your time; your time is not free of charge. We may feel like heroes juggling many tasks but it has been proven, multitasking does not save time. Never confuse activity with productivity. The 80/20 rule kicks in when we spend 80% of our time chasing 20% of our results.
The best way to check the efficient use of time is to log your activities and time (on excel). This daily log should be done for 3 to 4 weeks. The analysis will give you clues as to what portion of your time is well spent. Focus on high value items and re-evaluate the other tasks ‘hogging’ your time.
Learn to delegate. Empower someone else to do your low value tasks. This frees you to focus on more important tasks. Delegation however does not mean abdication; whatever you delegate must be carefully observed and controlled. Ensure you have the right people assigned to the right tasks.
Effective time management should become a serious habit and a consistent routine. Diligently plan ahead in writing. It becomes more concrete. Large projects seem daunting so break them down into smaller tasks. How do you eat an elephant? Bite at a time. This clarifies your thinking, resulting in a lucid plan instead of vague open ended goals.
Use technology, namely a reminder calendar and ‘to do’ lists that forces you to action. Technology gives you added benefit of easy access anytime from anywhere.Written lists remain visible, specific, and are time based. They stir you to action. Procrastination is thus avoided.
Disallow interruptions during the course of your day. Set aside limited times when you confer with your team. Similarly excessively reviewing your social media feeds and emails is an ill-advised pursuit, and time consuming.
Clean accessible record keeping is vital as it saves much time in sluggish ‘search’ missions later. Keep a clean desk.
A most important tip I can share about time management is to reserve some quiet time for you. Call this personal ‘quiet mind’ time that allows for clarity, self-reflection and deeper thoughts.
A disciplined approach to time management multiplies your productivity, rationalizes your impulses and allows you to make clear, thoughtful, and timely proactive decisions.
Shishir Lakhani
