Master your time to grow your business

“Most of us spend too much time on what is urgent, and not enough time on what is important.” – Steven Covey

Time is one thing you can’t make or buy more of but is an area that most business owners say they are struggling with. It’s easy to be busy all day but feel at the end that you haven’t achieved anything.
Learning to master the time spent within your business is key to your success and growth.
Analyse your time

The first step in Time Mastery is analysing where it is going. Keep a time log for a few weeks and then analyse what you are spending your time is on – you will probably be surprised what you find…

• How many hours per day and per week are you currently working?
• What are the main types of activity that you are doing on most days?
• How much time do you spend on each of these activity categories?
• What were your top 10-time wasters?
• Which activity categories should you be doing, and which should you be paying someone else to do?

Top tips to stop you falling into the ‘activity trap’ and being a busy fool….

• Set personally motivating goals
• Don’t finish today until you plan tomorrow
• Start each day with the biggest most important task (eat that frog)
• Don’t major in minor things
• Create a default diary and stick to it
• Invest time don’t spend it
• Have agendas for all meetings
• Have conference calls to save time
• Delegate to your team – the key to growing your business

Delegation

A lot of business owners feel they must do everything themselves rather than delegating to the team. They believe they can do a better job themselves or they don’t want to risk losing control of the situation or outcome. Taking care of everything yourself may seem like a good idea at the beginning but as your company grows effective delegation is essential.
Top tips for effective delegation:

• Delegate early
• Select the right the person
• Brief them properly and explain the benefit to both the company and the person
• Delegate to one person
• Be clear about what is expected
• Ensure they have responsibility and relevant authority
• Provide appropriate training and guidance
• Agree the mechanism for receiving updates on progress
• Evaluate performance and recognise success

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