Now that you have taken the plunge and are starting your own business, you are probably working non stop to tackle all of those start-up activities. In the process, you will reach a point, if you haven’t already, where you find yourself overwhelmed by all the decisions that you think need to be made immediately and all of the tasks that you perceive should have been done yesterday. If you are like many new business owners, especially those who tend to be over achievers, you may find yourself jumping from one open issue to another leaving a trail of unfinished business in your wake.

Before you get in too deep and start losing too much sleep, take a step back ….get some exercise, splurge on a double latte….do whatever it takes to get your perspective back so that you can best assess how you are managing your time. Regardless of whether you are a sole proprietor or have partners, there will still be much more to do, especially in these early days, than there are hours in the day or week. That being said, this doesn’t mean that all of the tasks won’t get done…they just might not be completed as quickly as you may like. Hence, the importance of temporarily putting aside the latest draft of your business plan to consider the following time management tips.

1. Set Daily Objectives. The best way to keep track of all the tasks that need to be addressed is to create and maintain a to-do list. This list should be updated at the end of each day so that the following day’s priorities are clear and there will always be a definitive starting point.While there will be a number of important tasks to tackle each day, their degree of importance will vary with some being categorized as extremely important while others are merely important. One of the best skills to hone early on is the ability to be able to successfully differentiate between the levels of importance and to establish an effective daily priority list.
2. Establish Work Hours. One of the most common misconceptions about individuals who start their own business is that they will be sleeping in, working very limited hours, taking lots of breaks to run errands and meeting friends for coffee at regular intervals. Usually this is so far from reality that it is ludicrous. New business owners tend to work longer hours than when they were employed by someone else. In fact, they can become so focused on their business that they live on caffeine and junk food and then burnout becomes a real problem.It is essential to maintain a balance between our business and personal lives. We all function best when we have a sufficient amount of sleep, take breaks to spend time with family and friends, and eat regular meals. Hence, we should establish our weekly schedules with the understanding that while our hours may vary from day to day, we will not work beyond a certain time of day
3. Group Tasks. It is a given that there is much to be done and would definitely get completed more quickly if we could clone ourselves. Since this isn’t an option, it is essential to find ways to increase productivity. One of the best ways is to group like tasks together. For example, make a list of all of the phone calls that need to be made and block out the appropriate amount of time to do so. Set definitive times during the day to check e-mail. As many e-mails will require some type of action, it can be very disruptive to check your messages every time the alert sounds.When setting your weekly schedule, it would be beneficial to assign the same block of time each day for those regularly recurring tasks like phone calls, e-mails, and other repetitive tasks.

Let’s be real…as new business owners we are going to work much longer and harder than we have for former employers. After all, we have a very vested interest in making our companies a success as quickly as possibly. In the course of doing so, we should remember to work smart, not long!

Posted on Monday, December 1st, 2008 at 8:59 am and is filed under Business Growth, Startup Advice. You can leave a response, or trackback from your own site.