July 2013 | Servcorp
In business, time is money. But for thousands of ambitious small business owners, 24 hours in a day is likely not enough.
Nevertheless, it IS possible to achieve personal and business goals without burning the candle at both ends – all that's needed is a little advice on how to manage you and your employees' time more effectively.
First of all, making a plan to schedule your daily tasks is almost guaranteed to aid your focus on a daily basis. Whether you make the plan at the breakfast table, on the commute to the office, or once you're sitting at your desk, take the first half an hour of each day to plot what you want to achieve – and don't start the day properly until your plan is complete.
Assign time to activities that are crucial to your business's success, while scheduling appointments and creating time blocks for high-priority appointments – but it's crucial you have the discipline to stick to the agenda.
Secondly, while most business owners have likely heard of the 80/20 rule – which states that 80% of your profits come from just 20% of the products or service your firm offers – you may be surprised to learn that dedicating 80% of your time to 20% of your most successful products means you can shape your day around those items.
Implementing this rule will allow you to devote more time and energy into increasing profitability without neglecting your business's most money-spinning items.
Finally, recognising that multitasking is NOT the golden attribute that every company should seek in an employee will go a long way to securing your firms profitability. However, that's not to say the ability to multitask isn't a necessary skill at times, but, more importantly, employees and managers should possess the facility to FOCUS.
Leaving piles of unfinished work as you hover from one task to another will only be detrimental to your business, and studies have shown a dedicated attitude to completing single tasks in order is much more efficient than multitasking.