Time management for business owners

We are all conscious of time. But with business owners, it’s a completely different matter. Because they are their own bosses, they can start work at any time they want. But that doesn’t stop them from forgetting time management. Managing time is essential to keep a business prosperous and successful. Below are a few ways for business owners to manage and maximize their time to get everything done and have some time to themselves for the weekends.

1) Keep the 80/20 rule in mind.

This rule states that 80 percent of profits come from 20 percent of the services and products your business has. Take some time to research which services and products fit into the 20 percent of your profits and focus most of your effort and time on them.

2) Say “no” when the time is right.

You need to learn how to manage your time by not doing things that can distract you. Always prioritize the things you need to finish first. Respect your personal time and set boundaries. You don’t have to do everything.

3) Set deadlines.

This benefits you and your employees. Setting deadlines can put pressure on people, but it means the task will get done. Of course, you should set a realistic time for deadlines. If the task is simple, keep it short. If it’s a bit challenging, give it a longer time frame.

4) Give yourself a break once in a while.

Procrastination actually has a positive effect. It gives your mind and body a change to rest and refresh. If you are tired and need to rest, stop. In the end you will find that you accomplish more because you are refreshed throughout the day.