Ever get to the end of the day and realize you have 100 half-finished tasks, but are not one step closer to increasing your revenue? It’s frustrating as an entrepreneur who depends upon maximizing your time in order to pay your bills at the end of the month.
They key is time management. As Peter F. Drucker so eloquently stated, “Until we can manage time, we cannot manage anything else”. For entrepreneurs time management is a crucial discipline that sets apart the multi-millionaires from the ones struggling to get their businesses off the ground.
Place Everything on a Calendar
Take time to place everything you have to do on a calendar at the beginning of each week. Include things such as meetings, exercise, appointments and non-distracted work time. Make a commitment to show up to every entry on the calendar and execute your best effort during those times.
Build a Team
Even if you are a solopreneur with very little resources, it is important to start thinking about building a team. Utilize low-cost alternatives such as interns, websites such as Fiverr.com and explore options such as Upwork.com or freelancer.com as you are getting started.
Batch Tasks
Identify certain times of day to address e-mails, return calls, conduct meetings and do your work. Focus solely on those tasks, and minimize distractions during those times.
Utilize Automatic Responses
Worried about missing an important e-mail or call? Set an automatic response on your e-mail or cell phone telling clients you are in a meeting, and will call them back as soon as you are done. This way, they know you are available and will return their request shortly.
Download the Toggle App
Want to find out how much time your tasks truly take? Download the Toggle app on your phone and track your various tasks throughout the week. How much time are you spending in your car? On social media? Doing non-revenue generating activities?
The answer could surprise you. At the end of the week, identify areas where time is being wasted, or assign a non-revenue generating task to a virtual assistant in order to free up more time to make money, or spend with your family.
Nix Social Media
The greatest distraction for entrepreneurs is getting sucked into Facebook, Linkedin, Instagram or Twitter with the intent to engage in “marketing activities”. If social media is a crucial part of your business, schedule no more than 1 hour a day to tend to it, or hire a social media technician to execute and monitor your postings.
Effective Time Management can be the Key to Rapid Revenue Growth
Take control of your time, and you have taken control of your business. In order to be successful, you must plan your days, cut out unnecessary tasks, delegate as much as you can and dedicate certain times of your day to address certain tasks. When you do this, you will take control of your day, and watch your revenue soar!
