Time Management

Time management is best defined as a systematic prioritization of tasks and competing demands to complete the most important tasks within a target timeframe. The goal of time management is to reduce the distractions which lower the number of tasks a business owner completes.Importance of Time ManagementIs the saying, “Time is money,” true? If your business runs out of money, you always have the opportunity to get more. More money is “simply a sale away.” On the other hand, once time is past you can never get that time back nor can youadd more hours to a day. Yes, poor time management can cost you and your business tremendous amounts of money. Realize, however, that the better you manage your time the more money you can earn. With time management, business owners maximize how much they get done each working day. Having a written time management plan serves as a guide for working smarter instead of harder.

Benefits of Time ManagementWith effective time management, you will:1. Maximize what can be accomplished in a work day2. Maximize the use of the limited resources3. Identify critical areas for special attention4. Identify tasks that can be delegated to employees5. Track progress toward your goalsThe number one benefit of time management is more business, which means more income. Time management will allow you to be more focused on key tasks, be more organized, have less stress, and have more time for family, friends, and other interests. Here are some questions to help you determine if you might benefit with better time management:1.  In what ways have you wasted or not optimally managed your time?2. How many times have you looked up and wondered where all the time went?3. How many times has your day ended where you didn’t complete a key task and/or desires?4. How many times have you missed dinner or other activities with family and friends to work late to finish something that was not done? Benefits of Time ManagementThe purpose of this discussion is to help you realize ways to save time. Using the following list of benefits, describe how you would personally benefit from better time managementBenefits of time management:  More business, which means more income!  More focused on key tasks  More organized  Less stress  More time with family, friends, and other interests