3 Time Management Monsters and What To Do About Them

Time. It can be a relentless yardstick of our productivity as business owners. What did you get done today? Did you complete your weekly checklist? Are you on pace to reach your goals this quarter? Nearly every strategic initiative, business goal, and performance metrics is based on time. And that darn clock never stops ticking.

According to an article from Web Tribunal titled “13+ Alarming Time Management Statistics,” a whopping 82% of people don’t manage their time successfully. While business owners hopefully are better time managers than the rest of the population at large, many still struggle with the clock.

Honing your time as a business owner is arguably the number one thing you can do to drive your business success.

There are three common culprits, or time management monsters, that eat away at business owners’ efficiency and productivity.

Time Management Monster 1: Procrastination

Some argue that procrastination is not a time management issue, but rather an emotional management problem. Either way, procrastination is a massive threat to your productivity as a leader and really the success of your entire business.

While there can be many contributing factors to procrastination, don’t confuse it with laziness. Is fear of failure holding you back? Are you over-extended? Or perhaps are you subconsciously trying to avoid conflict? Really though, the reasons for procrastination are far less important than the solutions.

Here are a few tips to overcome the procrastination monster:

·       Set tighter deadlines. Don’t overestimate how much time it will take to complete a task. By assigning a shorter timeframe to a task, you instill a sense of urgency that helps ensure completion.

·       Add it to your calendar. And just as importantly, review that calendar first thing every morning to help you visualize and prioritize tasks.

·       Create accountability. Self-imposed deadlines are far easier to miss when left to your own devices. By assigning yourself an accountability partner, you are much less likely to procrastinate and far more likely to achieve your goals and complete your tasks.

Time Management Monster 2: Distractions

As business owners, we live in a world of endless distractions. Phone calls, text messages, meetings, troubleshooting, conflict management, special projects, and the list goes on and on. It all adds up to a lot of noise that can seriously hinder the quality and quantity of the work you perform.

Distractions are nasty little time monsters that not only intercept your attention, but also inhibit your ability to concentrate. According to time management experts, the recovery time to refocus on work after a distraction is 23 minutes. That is more than a third-of-an-hour of wasted time!

To help mitigate distractions throughout your business day consider the following:

·       Mute notifications on your phone. Schedule time in your calendar every few hours to check incoming messages and address anything that truly needs your attention.

·       Close your office door. Or even invest in a pair of noise-canceling headphones! By literally blocking out sound, you will be much more able to focus.

·       Start early. Some of the most productive business owners begin their day in the office long before anybody else clocks in. By tackling tasks in the early morning hours of a quiet office, you cut distractions down to a bare minimum. Plus, many early-bird business owners truly enjoy the quiet time ahead of the hustle and bustle of the standard workday.

Time Management Monster 3: No Delegation

The quickest solution to being overloaded and overextended as a business owner is to learn the art of delegation. A good delegation analogy is that of a house painter who spends an inordinate chunk of time balancing his books. Is that time crunching numbers truly time well spent when he could be out painting houses? Of course not.

Squandering time on activities better suited for others hugely affects a business owner’s productivity and effectiveness.

·       Evaluate all activities and determine which ones don’t require your expertise.

·       Identify the most qualified team member to take over those tasks and responsibilities.

·       Provide instructions to enable others to complete the tasks correctly and to your standards.

·       Create deadlines and ensure accountability.

·       Consider outsourcing responsibilities if you don’t currently have an employee who can take it.

And while it didn’t make the Top 3 Time Management Monsters list, you should also consider reexamining the value of meetings you call and attend, both internally and with customers. Forbes reported that half of all business meetings are a waste of time, not to mention budget.

Time management doesn’t need to be difficult. Even implementing small changes to how you manage the clock is sure to positively impact both you and your business.

 Contact me today to learn more how we can help you translate goals into reality and get things done productively!