‘Time is Money’ right? When it comes to running a business, this phrase is invariably true. In today’s world time is considered as important as money, but in the end, both aren’t quite equal.
Even though time is continually flying by this doesn’t mean you’re making money just as fast as it largely depends on how well you manage and utilise that time.
But we all know this don’t we? So why do I regularly talk to business owners who are working 70, 80 or 90 hours per week? In fact a few months ago I spoke to an owner who was working over 100 hours per week (my current record!). Incredibly he also had a wife and kids!
Here’s a reminder as to why time management is so important:
Effective Time Management Helps Accomplish More with Less Effort
The number one advantage of time management is that you have better control over your time which means that staying focused on finishing a task becomes easier. This in turn leads to much higher efficiency and productivity which is achieved with less effort.
Effective Time Management Helps You Make Better Decisions
When it comes to running a successful business you have to make decisions that help you do so effectively and the choices you make, either good or bad, will shape the future of your business. This is why time management is essential as then you will be able to put more time into thinking about each and every choice carefully as you can afford to do so. You MUST have time to work ON your business and not just IN your business.
Effective Time Management Helps Reduce Stress
The main reason why people feel stressed is solely because of having to complete a task in a certain time and not having enough time to do it. When you apply effective time management to your work schedule completing a task within a deadline will become easy which in turn will enable you to accomplish more. You will also be able to review the entire project or task and eliminate mistakes.
Ultimately you will be able to check every project or task that you attend to for proper quality, you’ll make better decisions, feel less stressed and re-take control.