There are several times a year that we find that other obligations get in the way of running our business – holidays, vacations, & taxes. It’s also the best time to look at our time management practices to improve them for greater profitability. Time is our greatest resource, our biggest trap, and where we all make our money.
Here are 5 ideas to increase your profits through time management
Set Clear Priorities: Keep your focus on the tasks that make the register ring. Work a to-do list so you can get the important tasks done first. All tasks should be moving closer to one of your objectives or they can be done later when you have done everything else.
Delegate: Do what only you can do, delegate the rest. Even if you are a solopreneur, there is a huge network of contract workers that can do the things that you shouldn’t be doing. And they can probably do it quicker and better than you can for less than your time is worth.
Manage Interruptions: Open doors policies are great but create a time trap. Set standing times for questions and support your team and even your customers. Stop distractive notifications of emails, chats, and text messages. Plan a time block to review and respond a few times a day.
Touch Once And Done: With emails, paperwork, and even ideas. Keep your day moving by completing, delegating, or deleting the item. Don’t build files or piles of stuff to look at again later. Get it done and move it out of your space to free up time to work on the good stuff.
Keep Your Space Organized: A cluttered area leads to a cluttered mind. Keep your space free of distractions and a functional space to work in. Stop hunting for that file or note that you need to reference. Keep all of your files and notes in an electronic form, it makes it easy to search for a date or keyword.
Time is money and your business can make more money by just managing time better. During this hectic time, create some new time procedures that allow you to get more done in less time. Stick to these new skills and you’ll find that you can make more profits too.
Marcia Riner is a business growth strategist and the CEO of Trajectory Consulting. She helps small business owners to increase profits, drive growth, and to be in a great position to sell it someday. Together, she helps you create your roadmap to increase revenue, drive growth, and maximize the value of your company. Check out her website @www.TrajectoryBiz.com
In her book The Profit Accelerator, she provides 12 Ways To Dramatically Increase
Your Revenue, Profit, And Value. Download her book for FREE at https://www.TrajectoryProfits.com/book-download