Why Time Management is Vital for a Small Business Owner

Why Time Management is Vital for a Small Business Owner

Regardless of whether you assign any monetary value to it or not, time is a very valuable commodity. Most small business owners end up spending a large part of their week not having sufficient time to satisfactorily complete every task they want to, or reach a goal they have set for themselves.


There are a variety of ways in which the time management issue can be tackled. Many people adjust their sleep time, download apps, create to-do lists, set reminders on their phones etc. But no matter how hard they try, they feel like they are in a constant tug-of-war with time.


Why Focus on Time Management?


What is probably even more important than trying various tactics like the ones mentioned above, is to understand exactly why time management is so important and how you will benefit from it. The first thing to do is to look at the broader picture; here are some reasons why time management is vital for any small business owner:


Time isn't limitless


Regardless of how you slice time, each day has only 24 hours. This holds true for you and every person that works for you too. While your sales and marketing person may have just one task to handle, you as the owner of the business have to multi-task and don various hats all at once. That also means you have to be even more efficient with the way in which you manage your time; and learning how to do that will help you be more in control.


Accomplish more without putting in too much effort


When you are in control of how you spend your work hours, you will automatically find you are able to focus better. In turn, this enhances your efficiency as you are able to maintain momentum right through the day. You will find that you are able to complete a larger number of tasks and your workday will also seem much shorter.


Ability to make better decisions


Regardless of which time management technique you use, the one major side-effect of managing your time is that you will be much less stressed. This will give you the time to consider various options, before you make any decisions. When you do this, it diminishes the chances of you making a bad decision.


Achieve more success in your venture


No matter which business you run, time management is one of the key factors in achieving success. When you are more in control, you will make more sound decisions without getting frazzled in any way. Your team members will be compelled to sit up and take notice.


When they see the person at the helm being so well organised and efficient, it encourages them to perform better at their job. Eventually, this trend turns into a work culture and you will find that your business starts becoming more profitable, because everyone is doing their best.


Time to focus on new business strategies


When you are constantly strapped for time, you aren't encouraged to think about launching new products or enhancing the existing ones. Contrastingly, when you manage your time in a better way, you get the breathing space you need to think about new business strategies.


In addition to all these things, you will find that you are far less stressed and will also be able to eke some time out to spend leisurely moments with family and friends. As you can see, time management is something that can benefit every small business owner.


About the Author

Ben Fewtrell is a sought-after Business Coach, Keynote Speaker and trainer who has featured in Virgin’s Inflight Magazine and Entertainment Portal, SKY Business and “Secrets of Top Business Builders Exposed”. He is also the host of the popular Business Brain Food Podcast where he interviews leading experts on anything and everything business.

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