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