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Debtor Finance Blog

Time is of the essence! The importance of mastering the clock

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How do you manage your time as a small business owner? How do you manage your time as a small business owner?

Ah, time management - that old chest nut. It's one of those things that many people, despite having had to deal with it from their school days right through to running a business, can find extremely difficult to master.

Just how do you get things done in a small business, where you're likely to have limited resources and people power coupled with a seemingly endless list of jobs?

The important thing is to remember that time management should be a key priority on your small business agenda. It's much more than just ticking off a random list of tasks. Done right, good time management can have widespread benefits for your business, such as increasing productivity.

I'm pretty sure that's one of the main reasons CashFlow Advantage has enjoyed such growth over the years. Squeezing multiple tasks into almost impossible timeframes and staying on your toes the whole time is never easy, but it can definitely be worth it in the end!

So what are the basic principles of good time management for small businesses?

The first step is to make sure you've got your priorities sorted. Sit down and really think to yourself - what are the most pressing priorities for you and your business, and what should you be investing time into to change your business for the better? Write your priorities down on a bit of paper and make sure you keep it at the front of your mind at all times.

Once that's done and dusted, you have to train yourself on how to delegate and set tasks. Many small business owners enjoy the thrill of running the entire operation out of their own hands - but knowing what to delegate, when and to whom can save your company heaps of time and money.

My last bit of advice is that you should truly understand what your distractions are and make an effort to eliminate them. Staff meetings, for instance, are crucial in any business but we tend to let them run over time far too often - by setting a strict time limit and sticking to it, you can ensure you're not constantly pressed for time.

Wishing you all the best for your week in business.