16 Apr Create profitable business habits with effective time management
How to create profitable business habits using a 4-step time management process that will lead to a more productive business.
Why is time management so important? The top two struggles for new biz owners is time and overwhelm. To overcome those struggles and build a profitable business that grows, you need to have in-built mechanisms that enable time efficiency and productivity.
Right now, if you are a new business owner and you are saying to yourself:
There aren’t enough hours in the day to get everything done, I’m stressed and exhausted, I’m not landing any clients, my business isn’t growing…
This is an indicator that what you are currently doing, isn’t working and you should consider changing things up in your business.
What you should be saying is:
- I have set my priorities, I know exactly what I’m doing in my day and I am productive.
- I am landing new clients.
- I am ready to hire because my business is growing.
- I can take the day off today!
Your goal is to design a business around the lifestyle you are seeking, and to focus your time and energy on growth tasks that centre around your zone of genius. You don’t want to be spending everyday on daily grind tasks that aren’t moving the needle in your business. To do that, you need to be productive with your time, right?
So, if you are spending too much time on daily grind tasks such as creating content for socials and engagement, and you are not growing your business or landing new clients, you need to change your tactics.
Many new biz owners think it’s their marketing that’s failing them, or their content, or strategy. But, they overlook time management, and how to improve their productivity.
So, if what you are doing isn’t working in your business, and you are not growing your business, review how you use your time. Once you have a strong system in place that will help you achieve more in a day, you can then look at marketing, and other areas of your business that may require improvement.
Small changes can bring big results.
How you use your time will be the difference between a business that grows and a business that remains stagnant. It’s that simple. So, listen up!
Time management involves reviewing your existing practices and then adopting streamlined methods that ensure you are optimising your time and being as productive as you can be.
The earlier you start creating the right habits, the more likely you will ingrain them into your business and work.
Here are two questions I want you to ask yourself. They are poignant and are a good indicator of whether your current activities are getting you where you want to be.
>> Have I achieved what I wanted to over the past 6 months?
>> And, where do I want to be in 6 months or 1 year?
To achieve your goals and grow your business, it comes down to using your time wisely and productively with managing your time, having solid business foundations, setting your business up for success, and having strategies in place to achieve your goals.
Today, we focus on time management and getting you on track to creating profitable habits. We want to break bad habits and routines, and create new, productive ones that will help shape the growth of your business. These simple measures will have a transformational impact on your business.
Let’s create more space and time in your life to focus on other things, whether that’s work or play.
Time management: 4-step Audit, Review, Time block, Test method
In step one, we want to audit our existing practices. Our goal is to help us determine what is working and not working. Like everything we do in business, we want to measure and track what we are doing, to check effectiveness.
ACTION: Take out the old fashioned pen and paper. We are going to audit your typical day from the time you wake up to the time you go to sleep, for a week. For convenience, start on a Monday.
Record every task accurately. Be very strict and detail oriented. At the end of the week, we want an accurate record of how you spend your time.
Step two involves conducting a review of your audit and categorising your activities. This can be quite a sobering task to see what you are actually doing each day, and detailing whether what you are doing is productive.
Here we want to see where you spend your time, categorise tasks, and see how we can make your day more productive.
ACTION: Take out your audit and a highlighter –
ONE. Group tasks into ones that:
- distracted you and took time away from work, such as checking social media for personal reasons
- took longer to complete than you thought
- you continually check back throughout the day, such as checking email
- used your zone of genius and focussed on growth of your business
- are priorities.
TWO. Ask yourself:
- what tasks do you enjoy doing?
- what tasks don’t you enjoy?
- what tasks are complete time wasters?
- what tasks could be outsourced?
- how do you feel at the end of the day?
- With those grouped tasks, allocate a time that it should take to complete each one, eg. 1 hour, 2 hours etc. Be realistic.
THREE. With the tasks now grouped into the above categories, allocate a time that it should take to complete each one, eg. 1 hour, 2 hours etc. Be realistic.
FOUR. Prioritise them.
FIVE. Finally, ask yourself how much time you want to be working per day and how many hours do you want to work per week..
By doing an audit of your typical week and reviewing it, you can already see where you have been spending your time, holes where your time is being sucked up, and how productive you have been.
Time blocking is hugely effective and is essentially batching your tasks together, and completing tasks in one go. So, instead of checking your email three to four times per day, allocate a certain time each day to emails.
Time blocking is a streamlined way to complete your tasks, and will save you so much time.
And, that is exactly what we are doing in this step. We are building out your weekly calendar, and time blocking your tasks.
ACTION: Grab out a weekly calendar. For everyday of the week, plot the grouped tasks and the time it will take to complete them, starting with priorities, into each day.
For example, instead of checking email 3 times a day like you were doing, block out an hour to respond to all emails. Or, instead of writing captions everyday for your social channels, put time aside, say an hour or two, to prepare your content for the whole of the next week.
Be realistic about the amount of time it will take to complete a task and how much you can do in a day.
By this stage, we have audited, reviewed, time blocked, and now it’s time to test.
You have allocated blocks of time to each task per day, taking into consideration how much time you want to be working, and how you want to feel at the end of the day.
Now, it’s time to test your time blocking! For a week, start doing the tasks you set out in the time block step, and keep a record of the tasks that took more or less time than you expected.
This period is testing your schedule, and to see how much you can get done in a day.
Once this testing period is over, tweak your calendar as needed, and identify if there are any areas that you could outsource.
>> It’s taking too long to write captions for your socials, and then source images and schedule the posts. So, you decide to hire a VA to source the images and schedule the posts, so all you need to do it write captions.
>> Responding to emails is taking too long and it’s not a task you enjoy, so you hire an assistant for two hours per week to respond to emails.
>> You understand engagement is is key to building your know, like and trust factor, but by doing this daily task, it is taking time away from growth tasks. So, you hire a VA for 30 minutes per day to engage and connect with other Instagram profiles.
This 4-step method will help you to be more productive with your day, to help you focus, track your time, create profitable habits, and feel accomplished at the end of the day.
What’s important about this method is that it allocates a certain number of hours of work per day. There is no scheduled start or end time, so it’s not about starting and ending your day at a set time, it’s about getting the number of hours you have allocated for yourself in a day to do the work.
Hi, I’m Simran, and I’m here to help savvy new coaches and service-based business owners start and grow a profitable business and land clients with intentional action and strategy.
And, I am here to help you catapult your online visibility with confidence and authority, while being authentically you.
If you want to work with me, find out more about my coaching services.