Time Is Money : Keeping Track
We bill for time at our business, so its both our biggest asset - and worst enemy when we waste it. As we grow, we need better systems for managing time and keeping track of whos working on what project and for how long.
For successful entrepreneurs, managing time efficiently, they say, is one of the most important things they do.
Here are five of their recommendations for wise time management
- Make a "To-Do" List: Perhaps the most basic of all "time management" systems ever invented, this time-tested maneuver puts it all on the line, in one place, and helps you focus on one item at a time.
- Delegate: Many entrepreneurs accustomed to "doing it all" find this exceedingly difficult. But even if you are a solo operator, you can pass off tasks to others (via outsourcing, for example) to free up time for yourself.
- Analyze how time is spent: Divide the day into small time blocks and record what you (or others) were doing in each block. Compare this to your goals and priorities. Do they align?
- Put a lid on procrastination: Entrepreneurs with a "can-do" attitude say that putting things off simply doesnt work. Even a simple "no" response to something on your to-do list can extinguish that item and let you move on.
- Set clear goals for yourself and your employees: Its not so much the clock thats important, but the compass that gets you where you want to go.
More and more entrepreneurs are turning to desktop software and web-based solutions for tracking and managing time.
Our Bottom Line
Time is money - we know it, you know it, so theres no excuse for wasting it. A few common sense approaches to better time management can make you more successful, and hopefully free up time for other pursuits.
Source: www.startupnation.com
A useful device that I learned at one of several time management courses I attended it was the 4 D approach. With each task/ email/ phone message categorise it into the following;
- Do it
- Delegate
- Dump it
- Defer it to a stated later date and time
Dublin City Enterprise Board offer a Time Management workshop on Tuesday, September 15, 2009 from 14:00 - 18:00. It costs €30 and will be held in the Executive Suites of the National College of Ireland. Book your place today.