| Small Business Owners Time Management: Reducing | | | | reflected in the behavior of other team members. |
| the Pressure On Your | | | | Your business goals and strategy will tell you what's |
| Time Tips on Task Delegation, Priorisation | | | | important and what you need to be doing. For |
| One of the greatest sources of stress for business | | | | instance, if you are in growth mode your list of |
| owners (besides the company bank balance) is the | | | | priorities might be: |
| pressure that comes from having only limited time to | | | | *Managing cash flow |
| achieve a lot. There is one very simple exercise you | | | | *Implementing lead generation process |
| can complete that will remove this pressure. In fact | | | | *Growing strategic alliances |
| you can start to create significant change in the | | | | *Communicating with existing clients |
| pressure you're experiencing right now. | | | | *Developing team skills |
| How competing demands generate stress | | | | *Building stronger systems |
| Before we get into the detail there is a short activity | | | | *General business administration |
| you need to complete. Think about a day recently | | | | Making changes |
| where you felt stressed or under pressure because | | | | Here's what to do to start reducing the pressure of |
| there was a number of activities or people | | | | competing demands. |
| demanding your time. List all of the activities you | | | | 1. Develop your list of priorities and rank them |
| completed on that day, in rough chronological order. | | | | 2. Test that the ranking is accurate by asking trade |
| Include all the detail such as answering phone calls, | | | | off questions, e.g. What if you could only do one and |
| meetings, answering questions from staff or clients, | | | | not the other? |
| getting your lunch etc. It's probably going to be a | | | | 3. Make sure you truly believe in the accuracy and |
| fairly extensive list. | | | | logic of the prioritization. If you have any doubts you |
| Also now think about the different hats you had to | | | | won't be effective in changing your behavior. |
| wear to fulfill those activities, for example, leader, | | | | 4. Analyze the list of activities you developed at the |
| negotiator, administrator, parent, mentor, janitor. The | | | | beginning of this article. How might you have |
| stress of competing demands comes not only from | | | | approached that day differently if you were working |
| having too much to do but also the emotional and | | | | in line with your priorities? |
| psychological stress of needing to constantly change | | | | 5. Then apply the same thinking to today, tomorrow |
| perspective. This can lead to feelings of doing a | | | | and perhaps some busy days you know are coming |
| half-baked job, frustration and a lack of fulfillment. | | | | up soon. How will you approach those days |
| The shortfalls of traditional time management | | | | differently? |
| There are a lot of really good theories around about | | | | 6. Put the list of priorities in your diary and in a very |
| how to manage and allocate time. Stephen Covey's | | | | visible place near your desk or workspace |
| time management matrix is one of the most | | | | 7. Explain to the people around you: What you are |
| frequently cited. Also there are a range of diary | | | | doing |
| based systems and training courses. These tools can | | | | The outcome you are trying to achieve (e.g. reduce |
| be highly useful in the right context. However as a | | | | stress, improve productivity) |
| business owner these tools can also be very difficult | | | | The logic of your approach and some of the |
| to implement for a range of reasons. Some | | | | different behaviors you are trying to develop. You |
| approaches lack flexibility, are difficult to manage in | | | | will be surprised how quickly they come on board to |
| real time, involve a significant amount of | | | | help. |
| administration or require a level of discipline that, in | | | | Each time you go to start an activity or respond to a |
| practical terms, doesn't exist. | | | | situation look at the list and do a quick reality check. |
| Get clear priorities and the stress will go away | | | | Should you be doing this now or diaries it to address |
| The single most significant thing you can do to | | | | another time? Or delegate? Are there more |
| reduce the pressure of competing demands is get | | | | important activities that need your attention right |
| clear priorities. Clear priorities provide a ranking | | | | now? |
| system for your activities. When that ranking system | | | | At the end of each day take a couple of minutes to |
| is enforced the demands on you stop competing and | | | | reflect on how you performed against your priorities |
| the stress caused by that competition goes away. | | | | and recommit to any behavior changes required. |
| Your priorities should be based on business goals | | | | The reduction in stress will be commensurate with |
| As the business owner you are likely to be the most | | | | the change in behavior and discipline. These will |
| senior leader in the business. Therefore it is critical | | | | happen with time and practice. It's like changing the |
| that your behavior is in line with the business goals | | | | direction of a big ocean liner. First you need to set |
| and strategy. This will ensure you are leading by | | | | the new course then gradually the helm will turn |
| example and will result in your behavior being | | | | around and come into line. |