You Need These Five Time Management Skills To Be A Better Business Owner

By: |Published on: Nov 19, 2023|Categories: Accounting, Business Goals, Family Business, Hot Topics, Small Business Development, Small Business Toolkit|

If you are a business owner, you know there is no time to do everything you need on a given day. Besides the general running of your business, managing employees, meeting with vendors, accounting, customer relations, etc. 

 

If you constantly ask yourself, ‘Where did the day go?’ it’s time to regain some of your time with time management skills. 

 

Here are some ways to improve your time management skills: 

 

  1. Keep Track Of Your Time. From the moment you wake up to the moment you go to bed at night, list every task and the total amount of time spent completing that task. Once you have a solid baseline for what occupies your time, you will have taken the first step to mastering your time.
  2. Eliminate Any Time-Wasters. Identify what sucks your time based on your time log, and find ways to avoid those tasks. For example, if you waste too much time reading your emails, set a time frame and limit each day to get through them. 
  3. Try The Pomodoro Technique. Set a timer for 25 minutes and focus on completing one task at a time. This technique is especially effective if you have trouble focusing. 
  4. Prioritize. The 80/20 rule states that 80 percent of your results come from 20 percent of your efforts. At the beginning of the work week, list your top priorities. Once you have prioritized, you can organize your time to ensure you complete the most critical tasks. 
  5. Delegate. When you hire someone you can delegate to, you can increase your time tenfold. Make sure you hire people you can trust.

Bonus Tip – Automate. Find ways to incorporate technology into your tasks to gain back valuable time. For every time-consuming or tedious task, there are software applications to help you automate. 

 

Estess CPAs specialize in serving the needs of small businesses with professional accounting, bookkeeping, tax planning, and payroll services. We help you achieve your financial goals through proper planning. Contact Estess CPAs today to schedule your free 30 minute consultation.

 

Estess & Associates, LLC

Small Business Services

7822 Highway 23 

Belle Chasse, LA 70037

(504) 433-5122

 

Estess & Company, LLC

Certified Public Accountants

128 Lakewood Drive

Luling, LA 70070

(985) 785-1470