Ever heard the saying time is money? Well, it’s true. As a business owner, your time is truly valuable and the way you approach the 24 hours a day, 7 days a week, 365 days of the year you have been given – which is the same time as everyone else, remember! – is vital to business success. In the end, your time is your only irreplaceable asset … it will definitely run out!
The fourth component (and it could be argued the most important) of the Business Mastery level is Time Mastery.
The way you manage your time sets the tone for your level of productivity and efficiency, but also your teams. How can a business owner who can’t manage his own time expect to manage a business effectively? Time management is a skill that is under-valued and vital to success.
Here are some time management processes you can put in place – long term to short term – so you can manage time instead of time managing you.
- Set long term goals
We talked about goal setting before. Long term goals are your big vision. If your end point is clear, it becomes much easier to set interim milestones and to then allocate your time in the short term. Managing time effectively in the absence of goals is almost impossible.
- The 90 day action plan
This is the first part of breaking the one year goal down into bite sized and achievable chunks. A 90 day action plan allows you to get specific with what needs to get done each week, all working towards the longer term goals. Each 90 day action plan is a rung of the ladder that gets you closer to achieving the one year goal.
- Weekly plans
Work with your team to set weekly plans that will deliver your 90-day plan. Can you see the waterfall effect being created by smart time management? The key is making sure all tasks, actions and strategies in the business and from your plan are allocated sufficient and specific time…that’s right, each activity to be completed in the next week must have actual time booked for it. Don’t just have a never-ending list! Breaking it down step by step is the achievable way to get you there.
- Daily To Do’s
Let’s break it down even further. If you’re on track and know what you need to achieve every week, then you are putting yourself in the driver’s seat for a productive work day. Be strict with your time. Write a To Do list of absolute must do’s. Build it around meetings and appointments and put aside larger chunks of time to work on projects that need a bit more headspace.
If time manages you instead of the other way around, then it’s time for you to learn more about the 6 Steps to Building a Better Business. Find out more information here.