Rethinking time management for small business owners

Run Your Business Aug 29, 2016

 

Small business owners face a constant struggle to prioritize demands. In fact, there’s an entire industry of books and seminars devoted to teaching people how to make the most out of their time. While on the surface this kind of time crunch might seem like a problem, it’s actually a good thing.

After all, if you weren’t swamped, it would mean your business wasn’t doing so great.

Take a different perspective
Every small business has different priorities. Some need to devote more time to meetings, for example, and others need to focus on emails and communicating with vendors or clients. 

You’ve probably been told to manage your time by making to-do lists. Whether you use a sticky note, digital organizer or memo pad, you've got to find a method that works. But instead of making a list of things to do, how about making a list of things not to do?

This might sound a little odd, but think of it this way: Trying to manage everything can be overwhelming. You spend time juggling tasks rather than actually accomplishing the things you need to do.

Paradoxically, the solution that will help you get things done involves not doing something. That's right, stopping what you're doing could help you become more efficient.

What does this mean? For starters, focus on one thing at a time and don’t try to be the world’s greatest multi-tasker. And when you see that inbox filling up, don’t worry about responding to every email.

Some help from technology
A number of recent technological innovations have made running your own business easier and more efficient than ever. For example, managing your finances often means you’ll make at least one trip to the bank every day. This is a daily task that can really add up over time.

But with U.S. Bank, business owners can skip this trip by scanning their checks and depositing funds directly into their accounts. This efficient solution is what Kris Terp did as CEO if 1 Micro LLC, and it ended up saving him 10 hours a month.

For more information and creative ways to successfully manage your small business, visit usbank.com.