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Time can be a small-business owner’s best friend or worst enemy. It all depends on how you use it.
There just never seems to be enough hours in the day to get things done. Time is extremely valuable to business owners – especially if they bill for time. Wasting time can be extremely harmful to the bottom line.
To operate efficiently, a business might need systems for managing time and keeping track of who’s working on what and for how long.
Most successful small-business owners also are successful time managers. And they tend to share certain traits and strategies. One of the most basic time-management devices ever invented is the simple “to-do” list. Each day, jot down all of the things that need to get done, all on one sheet of paper.
You also can number or check the ones that are highest priority, must-do items. As tasks are completed, cross them off.
This can help people focus on getting duties done one at a time and also gives you a sense of accomplishment.
Delegating more work also can help ease a manager’s time crunch. Many business owners accustomed to “doing it all” find this exceedingly difficult. But even if a person is a sole operator, he or she can pass off tasks to others, via outsourcing, for example, to free up time.
Another valuable approach is to periodically analyze how time is spent at the business – and not just the boss’ time, but everyone’s. Divide the day into small time blocks and record what you, or others, were doing in each block. Now compare this real use of time to the company’s goals, expectations and mission priorities. If they do not align, then someone needs to take action. One step might be to set clearer time-management goals for management and the employees.
Another priority should be to banish procrastination from the place of business. Growing, successful businesses don’t put things off. Even a simple “no” response to something on a to-do list can extinguish that item and let you move on.
A variety of technology solutions also are helping small businesses track and manage time. For example, Workarea.com is an Internet-based time tracking system that can provide billing information to the second. The system includes a time clock, time sheet, expense tracking, address book and the ability to access it all via cell phone or PDA.
The TimeClock Plus Small Business Edition, www.timeclockplus.com, lets you turn any PC into a time clock. Employees can sign in or out with the keyboard or mouse, and easily allocate hours and costs to specific jobs. And TimeTiger.com is a computer-based to-do list that shows all the items individuals could be working on.
Contact the local SCORE office at 367-5757
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