Entrepreneurs often face a lack of time. Long hours spent at the desk and endless to-do lists that never seem to end. Do you feel like your day should have at least 48 hours just for you to get everything done? We know that feeling very well! In this article, we will delve into the secrets of effective time management and share invaluable tricks and strategies that will increase your productivity and help you achieve the desired balance in your personal and professional life.
When running a business, it’s easy to find yourself in the role of a “jack of all trades.” You have to deal with various tasks such as cash flow management, employee management, complaint resolution, and many more. Being well-organized and efficient is considered a key factor for successful business management. How can you achieve that? Prioritize!
Focus on the steps and tasks that are most important for the development of your business.
Try using the Priority Matrix or Value Assessment. Both tools will help you evaluate and decide where to direct your attention. This will help you maintain maximum productivity and utilize time effectively.
The so-called urgency matrix is a great technique for time management and productivity. The model categorizes tasks and projects based on their urgency, which leads to better decision-making regarding task prioritization.
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Plan, plan, plan… Start by regularly sitting down and planning your upcoming day (or week) in a way that aligns your time with the priorities of managing your company. This will allow you to efficiently handle the necessary tasks while still having enough time for your personal life.
Today’s digital technology offers a multitude of tools that you can use to track projects and work productivity. Our personal recommendation? We highly recommend Asana, Trello, or Todoist.
If you have employees, doors open up for you to delegate certain tasks. By doing so, you can free up your hands and focus on what is most important for the development of your business. Proper delegation of work is absolutely crucial for entrepreneurs, especially when it comes to project management and planning.
What will an organized desk do to your productivity? An organized and clean workspace increases your work efficiency. Minimizing distractions helps you handle work more effectively.
An international study conducted by IDC Analyze the Future1 in 2012 shows that companies lose up to 21.3% of overall employee productivity annually, costing them thousands of dollars. Every time you search for a lost piece of paper on an overcrowded desk, you waste precious work minutes. Harvard Business Review2 states that the same applies to the use of information technology. Surveys show that employees lose up to 2 hours per week searching for lost digital documents.
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The Pomodoro technique helps you focus on work in short time blocks. The blocks are divided into 25-minute work intervals followed by 5-minute breaks. This technique improves concentration, productivity, and has a positive impact on mental health.
Eliminating external distractions saves you a lot of time. It allows you to concentrate on important tasks and work efficiently.
TIP: In addition to having a tidy desk, focusing on performance and productivity also involves activating the work mode on your laptop, blocking unnecessary pop-up ads in your browser, or setting limits on social media.
Allocate your time evenly between projects and rest. Set limits and clear boundaries for your work and reserve time for family and leisure. Finding a balance between work and personal life is crucial in business. This will help you avoid burnout, which lurks around every corner.
A survey conducted by Gallup3 shows that up to 23% of entrepreneurs complain about burnout, and 61% state that they feel exhausted.
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Do you really think it makes sense to work on your way to work in public transportation or in the car? Try to take a break and enjoy an interesting book or listen to a podcast. To be creative, you need to calm your racing thoughts and give your brain a moment to disconnect. Take a breath and relax!
Don’t neglect your physical and mental health. Managing stress and anxiety is part of effective time management and contributes to maintaining a healthy lifestyle. Try regularly scheduling time for yourself – go for a workout or stretch. Don’t be afraid to spend time with friends and remember to maintain a healthy and balanced diet. All of these activities enhance your mental and physical well-being, and that is necessary in business.
TIP: The University of Oxford4 states that happy employees are up to 13% more productive. A comprehensive study was conducted by Jan-Emmanuel De Neve (Saïd Business School, University of Oxford), George Ward (MIT), and Clement Bellet (Erasmus University Rotterdam).
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Entrepreneurship is not a walk in the park; it brings many challenges, successes, and also failures. But that’s life. We hope this article has helped you sort out information on the topic of efficiency in business, and time management will be a breeze for you from now on.
Do you want to develop your skills in productivity and time management? Try EDU Effective study programs – Effective MBA, Effective MPA, Effective MSc. All study programs use a microlearning format. Everything takes place online, and the cherry on top? You only need 15 minutes a day for studying, so you won’t waste your precious time.
Did you know that by studying at EDU Effective you are also helping a good cause? For every graduate who successfully completes their studies with us, we donate up to €100 to charity. Together with us, you are helping those in need. Graduates can support a charity on our list or nominate another institution.
Are you interested in shorter courses? We recommend trying Effective Credentials.