In the whirlwind of running a growing business, juggling personal commitments, and ensuring client satisfaction, time often feels like a scarce resource. I hear about it all the time from our clients: we’re stretched thin, struggling to keep up with expanding responsibilities, no time for the important things in business.
When surveyed, 8 out of 10 small business owners identified lack of time as their single greatest barrier to business growth. It’s clear that many are striving for better time management. However, I find that time management often feels like an elusive goal. Despite our best efforts, time moves forward relentlessly, unaffected by our attempts to control it. We have 24 hours in a day, 7 days in a week, and 52 weeks in a year—numbers that remain constant, no matter how hard we try to manipulate them.
Recently, I had an “aha” moment: instead of attempting to manage time, we should focus on managing our work.
Our days are often filled with urgent tasks as we jump from one thing to another—serving clients and tackling immediate activities. While we may feel productive, we often neglect the strategies that will truly grow our business.
There’s no one-size-fits-all work management technique, but here are three effective strategies that our clients have successfully implemented:
1. Block Time for High-Value Activities
Dedicate an hour each day to focus solely on activities that will propel your business forward. This could involve:
- Developing a new product.
- Managing your sales pipeline.
- Crafting a job description for a new hire.
- Financial Management.
These high-value activities often get sidelined by daily operations. Make this hour the first part of your day, before distractions kick in. Avoid checking emails or answering phone calls during this time. By committing to this practice, you’ll invest an additional five hours a week in working on your business rather than merely in it. If this feels overwhelming, start with three days a week.
2. The Power of No
As a business owner, you wear many hats and face numerous demands, making it challenging to focus on what truly matters.
Activating the “Power of No” can be transformative. This doesn’t mean rejecting every idea or opportunity; it’s about making selective choices. As Steve Jobs famously stated, “Deciding on what NOT to do is as important as deciding what to do.” By honing your priorities, you can allocate your time and energy more effectively.
3. Avoid Multitasking
Many believe that multitasking boosts productivity, but studies reveal the opposite: productivity can plummet by as much as 40% when juggling multiple tasks.
In his book ‘18 Minutes’, Peter Bregman offers strategies to combat multitasking:
- Turn off distractions: Silence your phone, disable notifications, and close unnecessary browser tabs.
- Set challenging deadlines: When facing tight timelines, you’re less likely to engage with distractions.
- Accept imperfection: Occasionally, it’s okay to multitask, but strive for focused work when possible.
Final Thoughts
You will never finish everything you need to do. Embracing this reality can lead to a more relaxed and productive mindset—one that not only benefits you but also improves your relationships outside of work.
Time is like a bank: you need to decide if you want to invest it or spend it. The key to success lies not in managing your time, but in managing your work wisely.