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.

1 Star2 Stars3 Stars4 Stars5 Stars (1 votes, average: 5.00 out of 5)
Loading...

Leave a Reply

Your email address will not be published. Required fields are marked *

Top Rated Articles

How your company can adapt to the Digital Revolution

Over the last couple of years, technological innovation has brought about a rapid change in the customer service landsca

LEARN MORE

Will Marketing Automation Help Your Business Grow?

Marketing automation software can benefit your business in a number of ways. It is a great way to increase traffic, enco

LEARN MORE

How CRM Can Maximize Customer Lifetime Value (CLV)

"Keep your customers always on the frontline," this is a key philosophy to running a successful business. Customers are

LEARN MORE

Recently Viewed

5 Reasons Why Every Modern Business Needs a Good Marketing Strategy

Regardless of the industry you operate in and the services or products you offer, marketing is one of the most important

LEARN MORE

7 Signs you Should Become a Business Coach

Have you got what it takes to be a Business Coach? The Business Coaching industry is booming, however, not everyo

LEARN MORE

Strategies for Maintaining and Nurturing Your Customers

Keeping your Customers 17 Money making strategies to retain your clients for longer, generating more repeat revenue for

LEARN MORE
  • Over the past 6 months the incredible team at MMP have supported us to shift our attitude towards our business & month on month our revenue is increasing to the point we will be able to employ additional staff to support our business goals long into the future. Do not regret our decision one single bit!

    • Emma Reece

  • Working with my coach has enabled me to see the areas where my business is failing. This was pretty confronting to me to be honest. MMP has the tools to improve these areas and the guidance on how to implement them.

    • Sharon Robinson

  • I have been working with Max My Profit for approx 3 years now, and over that time I have learnt a lot of things about not only what it takes to run a business, but I have also learnt things about myself. I don't believe i'd be the person or have the business I have today if it wasn't for Max My Profit and our Business Excelerator. Great team to work with if you want to take your business serious!

    • Ben Choy

  • As a new client for Max My Profit (MMP) it has taken no time at all to realise the benefits of business coaching. Despite many years of senior management experience starting a new business requires best practice systems and processes built on a solid platform of detailed planning. I look forward to the benefits of adopting the formula being shared by MMP.

    • Campbell MacLeod

  • Max My Profit Are truly awesome at what they do. They have helped me over the past 12 months to get off the tools in my business and start working on my business. I am looking forward to 2019 with enthusiasm not concern. Thanks so much.

    • Aaron Kemp

  • If you are committed to Growth the Max My Profit Team has the tools and expertise to excelerate all areas of your life. They Care, They Listen, They Understand You as an Individual first then they focus on Your business. Thank you Max My Profit my rating is a 6/5 - Kindest Regards The Mr Handyfix Team

    • Catherine Kavadas

  • The team at Max My Profit are an absolute pleasure to deal with. I love working with a team who is on top of what they are doing and have a clear view of what they are working on with you and helping ensure you get to the end goal.

    • Lauren Watts

  • I have been working with MaxMyProfit over the years and what they do for SME's in growing their business is fantastic. Also due to there knowledge and their supporting material for companies across the 5 lifestyle stages and assisting them through this process day in day out is extremely comforting as a small business owner and have referred them many businesses over the years.

    • Steve Laingy

  • Working with a business coach from MaxMyProfit has been one of the best things I have done for my business. I had several other coaches before MaxMyProfit but these guys are a step above the others. I have seen a significant increase in sales, now have a business that can run itself and the coaching program has paid for itself many times over.

    • Matthew Kitchin

  • Much more than just business coaches. There is an absolute treasure chest of business knowledge in their members site.

    • Iain Campbell

  • Max My Profit are unique as they really partner with you to develop and implement a plan that will drive success for the business. I was hesitant to proceed as previous business coaches tell you what to do and rely on you to implement.

    • Michael de Haan

  • I attended one of Max My Profits introductory events in Melbourne. Having been an accountant for almost 30 years, I was somewhat sceptical. Boy was I wrong. I not only enjoyed the presentation, but I gleaned so much from just that session.

    • Daniel Odd

  • These guys are an absolute wealth of knowledge for Small Business. The programme and support networks they have set up ensure learn more every day and can take your business from good to great. Thanks so much.

    • John Butler