Time is the most valuable commodity an entrepreneur can have. Time for family, time for vacations, and time for themselves. Due to the busyness of the entrepreneurial lifestyle, it can be difficult managing everything at once if entrepreneurs just starting out don’t manage their time properly. Below are a handful of tips that entrepreneurs can use as part of their toolbox to help ensure their success.
Tip 1: Learning to Value Your Time
Since time is a finite resource, and there’s only so many hours within a day where people can actually work. When it comes to entrepreneurship, the first rule of thumb when living as an entrepreneur is to first value your time. If you don’t value your time, can you really expect others to do the same?
Let’s lay out a hypothetical scenario: swimming pool pricing typically averages between $25,000.00 – $50,000.00 and you’re looking to get the most value out of your investment. You bought one for the sake of having a pool party or you may have a wife and kids that want their own space to swim in. The lesson here is to make value out of your investment, and that includes time. Schedule everything within your day into manageable blocks, and make adjustments only if you absolutely need to.
Tip 2: Delegation
If you have a support staff that works on your behalf, learn how to delegate. Leadership is an absolutely fundamental skill for an organization that isn’t something that can be learned from a book. It is a skill that is practiced and refined over a period of time. If you learn to lead effectively, people will respect your position as a leader. This frees up time for you to handle tasks that require your personal attention.
Tip 3: Do Not Procrastinate
The impulse to procrastinate is strong within the human psyche, so it causes people to delay work that they originally intend to do in a timely manner. If you find yourself slacking off, follow the 2-minute rule. You’ll find as you’re engaged in a task that you are able to complete a single task in bite-sized chunks as opposed to a whole marathon.
Tip 4: Automation
Entrepreneurs must learn to leverage existing technology to their advantage. Auto-schedule posts on social media as well as your banking for the same reason listed in tip #2, to free up time to spend your personal attention or other taskings.
Tip 5: Structure Unallocated Time
Most of your schedule will revolve around conducting and attending meetings and executing work agendas. Unallocated time is exactly what it is: time that hasn’t been slotted in as part of your regular schedule. The human body has limits to what it can do, and working day in and day out is actually detrimental to your health. The key point here is that you need to strike a work-life balance when it comes to the entrepreneur lifestyle. Make sure you allocate time to yourself and to your family so you do not run the risk of burning out.
Tip 6: Bad Habits
It’s okay to spend unallocated time to yourself, as long as you don’t do it excessively. If you find yourself doing something like playing video games or watching TV, you’re better spending that time doing something more productive. Instead, focus your efforts on eliminating these same habits that’s preventing you from achieving your desired goals.
These are just some of the many tips available for entrepreneurs to use in order to ensure success in the lifestyle. You need make it a point to yourself to integrate these tips into your own life so ensure continued success. Below are some additional sources listed as points of reference to keep yourself in check.