In business, it’s easy to feel there aren’t enough hours in the day. But the reality is we all have the same amount of time in a day, week and year. So why do some people accomplish so much while others seem to struggle?
Here, we delve into time management, looking at:
- The perception of time versus reality
- The power of planning, and how it helps you manage your time more effectively
- Delegating, taking action, and measuring your results
Perception vs. Reality
There’s an age-old saying in sales: if you ask a person for their time, they won’t give it because they don’t have enough.
Yet, if you take a person’s time, they’ll give you whatever you need. This paradox applies to us all.
Often, we tell ourselves we don’t have time for a task because we’re too busy. But, if we set aside time intentionally for specific activities, they get done.
A different perspective
To manage time effectively, we need to perceive ourselves as if we were someone else. Consider how you might advise a friend to find time for important tasks.
Often, we don’t follow the same good advice we would give to others.
The Power of Planning
People who seem to have all the time in the world have one thing in common: they are excellent planners. Planning is essential to effective time management and here are key steps to get started:
- Identify Your Goals: Know where you want to go. Clearly defining your destination is the first step.
- Assess Your Starting Point: Understand where you are now in relation to your goals.
- Plan Your Course: Chart the path from your current position to your desired destination.
Delegation: Know When to Ask for Help
One critical aspect of planning is identifying tasks that can be delegated. We often waste time on activities that others could do more efficiently.
For instance, if you’re not good at administrative tasks, hire someone who is. This will free up your time to focus on what you do best. Remember, the cost of hiring help is often less than the potential earnings you sacrifice by handling these tasks yourself.
Taking action and monitoring the activity
After planning and delegating, the next step is execution. Implement your plan and continually monitor your progress.
Assess whether your actions are delivering the desired results. If not, adjust your approach. Continuous evaluation ensures that you’re always on the right track.
Maximising the Results
Reflect on what you’re accomplishing with your time. Can you do it better? Can you do it more often?
By refining your processes, you can maximise outcomes and create more time for other important activities.
The goal is to do the things that generate beneficial outcomes for your business and personal life.
Enjoying the Benefits
Effective time management allows you to reap more benefits from your business. When you utilise your time wisely, you create opportunities to enjoy the fruits of your labour.
Ultimately, the purpose of running a business should be to enhance your quality of life. Avoid falling into the trap of sacrificing your life for your business.
Stay ahead of the game by planning effectively, making the most of your available time, and focusing on activities that yield beneficial results.
Time management isn’t just about being busy; it’s about being productive and making time for the activities that truly matter.
Highlights
- [00:20] The Time Dilemma in Business
- [00:40] Understanding Time Management
- [01:27] Effective Planning Strategies
- [02:40] Delegation and Efficiency
- [03:27] Monitoring and Adjusting Your Plan
- [03:51] Maximizing Business Benefits
- [04:34] Conclusion and Next Steps
Resources Mentioned in the Podcast
Talk Strategy with Clive
With more than 30 years’ experience in mentoring small to medium-sized businesses around Australia. Clive works with company owners and their teams to grow their business and achieve goals through strategic coaching.
