The following are the five best time management techniques to lead your business down a successful path.
Technique number 1: Make Lists
Business owners and entrepreneurs have to do various tasks and many assignments. They have to handle many things at a time. Bookkeeping and accounting are cumbersome jobs they must handle, along with a long list of other things. The best way to manage all of this is to make lists of all tasks and items you have to handle.
Making lists is a huge part of all time management techniques. Lists can be memorized and used according to priority if you have an outstanding memory. The best solution for time management is to enlist and write down all tasks, to-do lists, and pending assignments.
Four basic principles can be used for making lists:
- Annual schedule: Prepare the schedule for one year. This schedule is based on daily activities.
- Things to do list: Make a list of things to do daily, weekly, and monthly. All things to do tasks should be prioritized according to urgency.
- People to call list: List all phone numbers you have to make phone calls to. This is an alphabetically prioritized list. Alphabetical priority means that you allocate an alphabet to each number you have to call according to priority. A, B, C, and so on as the priority goes down.
- Plan for the conference: Planning the meetings and conversations you need to have frequently should be enlisted according to priority. This way, you will not ever forget an important call or meeting.
Technique number 2: Tickler Files
A tickler file system is used to manage daily files and activities in an organized manner. It serves as a booster for automatic memory and lessens the mess of daily files, workload, and activities.
A tickler file is also known as a 43-folder system. It is a system in which files are arranged date-wise to be highlighted on a specific date automatically.
A tickler file is a remarkably simple and friendly system. Suppose you have 90 files of three colors, 30 for each month. Your number them 1-30 for each month and allocate them in three different colors, i.e., Blue for the current month, red for the next month, and green for the month after that. Now, you have a task that you need to perform on the 22nd of the next month.
You put the note and other details on the 22nd number red file. On the 22nd of the next month, that file will automatically remind you of that task by pop up. By using these tickler files, none of your tasks are missed or forgotten. A lot of time is saved, and timely reminders lead to business success.
Technique number 3: Fewer meetings
Lengthy meetings can be a waste of time. To have better time management, the frequency and duration of the time of meetings should be shortened. Meetings should be focused on, and something valuable should be accomplished in each meeting. Before you call a meeting, ask yourself if it will be productive and if it is needed. Minimizing the number of meetings you have is a good time management technique.
Technique number 4: Block time
Most of your time in the year should be pre-assigned and blocked to get maximum advantages out of it. Assign your time to important tasks like bookkeeping, audit, payrolls, training, etc. To succeed in the business, focus on what is important and use your time well.
Technique number 5: Profit from “odd lot time.”
The time you get while waiting for something is valuable. Spend that time reading, thinking, and listening. Responding to missed calls and messages during this time is not a good idea because you cannot concentrate and, most of the time, do it in a hurry.
The key to success in business is disciplined time management. With these five techniques, you can be a pro in handling your time.
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