You might be wondering why I choose to write on time as a good economic strategy. We fail to understand that time is an important asset to every individual, talk more of a business. Most of the times during our day, we plan for things to do like washing, cooking, ,spending money and all other things without allocating time for each activity. Failing to allocate a time to each activity you are planning to do makes you spend almost a day doing one activity.
This article will expose you to some of the key concepts concerning time, proper time management and your business.
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According to Pastor Ugbogi M. Monday, time is the indefinite continued process of existence and event that occur in apparently irreversible succession from the past through the present to the future, time is a component quality of various measurements used to sequence events or the interval between them and to quantify rates of change quantities in material reality or in the conscious experience.
Are you confused? Well, don’t be. I will tell you facts about time you might possibly not be aware of. Everyone have the same amount of time, that is 24 hours a day, no one has less and no one has more, time waits for no one, when you miss it, it is gone forever, time is irreversible, it is not redeemable. Time is precious, treat it as important you cannot manufacture time as you do with other products.
Time is essential to every business transaction. Now you know what time means, let’s move ahead to time management.
According to Pastor Ugboji, time management is the process of planning and exercising conscious control over the amount of time spent in specific activities especially to increase effectiveness.
From the above explanation, you have seen that in order to succeed in your activities, you have to plan them and exercise control over them to increase productivity. Before you start any business, you must understand the urgency of time. Time is not renewable.
There is a trend I have seen under the sun, the urgent are not important and the important are not urgent. Dwight Eisenhower says that important task gets a date that is, planned so that they won’t be crises, and the unimportant as they are time wasters.
As a young entrepreneur, there are things you should do and the ones you should not do. Most business owners have good business strategies, but they don’t know how to manage their time properly, they are always behind schedule.
Do you want to overcome this problem and excel in your business? Then take your time and read the following tips on how to manage your time to increase productivity.
- Set Your Goals Right: Goal setting according to Susan Ward is the process of deciding what you want to accomplish and devising a plan to achieve the result you desire. For entrepreneurs, goal setting is an important part of business planning. It goes beyond what you want to accomplish in a day, you also have to work at accomplishing what your goals are. There is nothing wrong if immediately you wake up, you outline your goals for the day, and draft out a plan on how to accomplish them. At the end of the day’s work or business enterprise, review your activities to see where you did and did not do well. This will help you keep track on your successes and failures. Don’t forget to set goals that are measurable.
- Have a “To-Do” List: A to-do list consists of all the lists of tasks you plan to carry out for the day according to their importance. You list everything you want to do with the most important at the top and the least important task at the bottom. Sometimes people are overwhelmed with the load of work waiting for them and they get confused on where to begin and which task to do first, a to-do list helps you to avoid procrastination, it frees you from the worry that there is something you have overlooked. As an entrepreneur, by organizing the things you want to do like, delivery, ordering of goods, meeting with clients and so on, helps you keep track of your task and make you feel productive after the day’s job.
- Prioritize Your Activities: To every business time is money. Know what task is to be done and rank them in the area of priority or what needs to be given immediate attention. Urgent and important ones should come first. Focus on things that will bring growth to your business. Don’t’ waste time on the things you thing should be done but at the end will not add any value to your business. Think of the key drivers of your business, anything that doesn’t move this drivers is not a priority. Do the hardest things first, and the simple and less important ones will take care of themselves.
- Business before Pleasure: This phrase is old as time itself. Business before pleasure should be the theme of every entrepreneur. Most a times we enjoy partying, drinking, socializing, at the time we should take care of an important business. Am not saying these activities are bad, because all work and no play might bring frustration. The point am making is that you should attend to your business before pleasure. Do the right thing at the right time.
- Avoid Distractions: Research has shown that most a time’s human beings are easily distracted. For instance, having successfully set your goals, you have a to-do list and a very interesting show comes up on the T.V, you immediately abandon your business and place your focus on the screen. The T.V. has become a source of distraction to you. Most of the times, we spend reasonable time on our cell phones, chatting on social media at the time we were supposed to take care of our business. Avoid distractions too succeed in your business.
- End Procrastination: This is one of the problems that affect almost every individual. You find yourself putting off important tasks over and over again. Many people procrastinate to an extent, while others are so chronically affected that they can’t fulfill their potentials and their careers are disrupted. Procrastination is an evil that can crumble any business, if it is not arrested at the right time. The key to controlling this destructive habit is to recognize its existence, recognize when it is happening, the cause and then take concrete steps to end it. Device means to make the task more enjoyable.
- Delegate Duties: Delegate duties to your staffs and workers. Don’t do all the work as you will be so choked up to the point of exhaustion and most of the task may not be done. You can’t do all the work, division of labor helps in making task done easily and quickly. It enhances productivity,
In conclusion, time is a very important asset that is given to everyone, don’t waste yours.
Credits: Uyioata Adam