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Guide to Time Management
This document provides tips on better managing your time as a business owner or entrepreneur. It discusses working smarter instead of harder by setting clear goals, prioritizing tasks, avoiding distractions, and learning to say no. Some key recommendations include making to-do lists, scheduling tasks and personal commitments, focusing on one task at a time without multitasking, and finding your most productive times of day for different types of work. The document also covers flexible working arrangements and creating systems to stay organized.
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Guide to Time Management
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- 2. 2 | GuidetoTimeManagement Inmanyways,it’soneofthebiggestironiesforentrepreneurs.Manypeople choosetoworkforthemselvesinordertohavemorecontrolovertheirown timeandleavethe9-5existencebehind.Indeed,our‘Growth Survey’ of smallandmicrobusinessesintheUK,57%ofpeopletoldusthatbeing abletomanagetheirowntimewasthebestthingaboutrunningtheirown business,secondonlytoindependence(77%). However,thesurveyalsofoundthat24%ofsmallandmicrobusiness ownersstrugglewithlonghours.What’smore,whenitcomestoachieving growth,timeisbyfarthebiggestbarrier(citedby19%).Notsurprisingly, 19%alsosaidtheywantedtoimprovetheirtimemanagementskills. Thegoodnewsisthatyoucanmanageyourtimebetter.Andyoucan doityourway–fittinginwithyourownworkingstyleandyourpersonal commitments.Butthisdoestakediscipline.Aboveall,youneedto rememberthatproductivityisnotallaboutworkinglonghours. Timeisapreciouscommodity whenyourunyourownbusiness anditoftenfeelsasthoughthere justaren’tenoughhoursintheday. Whenyoujugglemanydifferent roles,managingyourtimeisa constantchallenge.
- 3. 3 | GuidetoTimeManagement Contents 1. Working smarternot harder...............................................................................................................5 2. Flexibleworking...................................................................................................................................................9 3. Working from anywhere.....................................................................................................................11 4. Working from home....................................................................................................................................13 5. Office systems.....................................................................................................................................................15 6. Looking to the long term ....................................................................................................................17
- 4. 4 | GuidetoTimeManagement AboutSageOne Since1981, Sage has been at the heart of the British economy and over 830,000 UK companies (6 million worldwide) now use our desktop software to run their business. More recently we created Sage One, an easy online accounts and payroll service for start-ups, micro businesses and first time entrepreneurs. For a low-cost monthly subscription, Sage One includes free 24 hour telephone and email support from our award-winning Customer Support Team in Newcastle, plus a wide range of tips and advice through our blogs, emails and social media. Find out more and try it free at http://uk.sageone.com (UK) or www.sageone.ie (Ireland)
- 5. 5 | GuidetoTimeManagement 1. Workingsmarter,notharder Areyouconstantlyrunningtocatchup?Isyourapproachtokeepplugging away,workingmoreandmorehours?Areyoutoobusytoconsiderworkingany otherway?Stop.Takeadeepbreath.Thesecretistoworksmarter,notharder. It’s aboutbeingproductive,notjustactive. Here are the steps you need to take to ensure you are working smarter. Getreal It’s important to be honest about your workload. Some people underestimate how long things will take; or they might say that everything will be alright once this project is completed or that deadline has passed and yet, the work never lets up. In order to take control, you have to be honest about how much time you spend on all aspects of running your business. Try keeping a record for a week and the results might surprise you. SetSMARTgoals Always work towards clear objectives and measure your progress towards them. To do this, you need to have strategic targets that will strengthen your business. Focus on SMART goals. These are: Specific, Measureable, Achievable, Realistic and Timely. Remember that time is an asset just like money – how you spend it has a direct impact on the success of your business. Make‘to-dolists’andplan A to-do list can be daunting, especially if it’s too long but it’s important to have a record of all the jobs you need to do. Start with a master list of all the big things that need doing by the end of the year and end of each quarter. Then create realistic weekly and daily to-do lists that will ensure you are getting the right things done at the right time. Avoid wishful thinking: instead, work out how long tasks are likely to take and make your task list achievable. Review your progress at the end of each day and draw up a list for the next day before you clock off. Some people prefer writing to-do lists on paper by hand but there are also some handy online tools to help you manage your workload which are mentioned in our blog titled ‘Is the Paperless Office finally here?’ Prioritisetasks If you’ve got a lot to do, you can find yourself being pulled in all directions and failing to complete anything. Prioritising is vital and that means ignoring some tasks at times or even taking other jobs off your list altogether. Focus on the tasks that will have an immediate impact and those that will have the most beneficial effect on the bottom line. If there’s a big project ahead of you, break it up into smaller tasks.
- 6. 6 | GuidetoTimeManagement 1.Workingsmarter,notharder Makeatimetable Regularhabits can help you to get certain tasks done without too much fuss. For instance, you could set aside an hour to chase overdue bills every Monday morning or use the last hour of the day to catch up on social media. If you want to improve your work-life balance, schedule personal activities such as family commitments and exercise as well as work tasks. Stayfocused Avoiding distractions is harder than ever in our ‘always-on’ world. Email and social media alerts are popping up all day every day and we are under pressure to drop everything and respond immediately. But the truth is that multi-tasking doesn’t work and flitting between tasks is the enemy of productivity. Sometimes you just have to be 100% focused if you want to get things done. Don’t be afraid to turn everything off, including your mobile phone, for an hour or two every day so that you can tackle the tasks that require deep concentration. Stopprocrastinating We all have tasks we put off. And often, once we’ve finally tackled them, we wonder why we didn’t do them earlier. Getting tricky jobs out of the way is incredibly freeing. It just makes the rest of the day go better. Most people work best in the morning – this is the time to get the most pressing things out of the way, such as important phone calls. Once you’ve done these tasks, you’ll feel really positive about ticking off the rest of your to-do list. Dosmallertasksinbatches When you look at your to-do list, you’ll probably find that there are a whole host of little jobs to do - anything from booking a train ticket to doing your paperwork. Don’t let these small jobs interrupt your day. Instead, make a plan to do them all in a single session. Go with the flow ‘Flow’ describes someone’s mental state when they are fully immersed in an activity with a deep focus on nothing but the task at hand. Championed by ‘positive psychologist’ Mihály Csíkszentmihályi, the concept has been embraced by many businesses that want to improve employee engagement. Being ‘in the zone’ allows you to put aside your emotions and other distractions, enabling you to give 100% to the task. Making more opportunities for people to work in this way can have a positive effect on productivity and staff satisfaction, including your own.
- 7. 7 | GuidetoTimeManagement 1.Workingsmarter,notharder Aimforgoodenough It’sgood to be thorough and professional at all times but when this borders on perfectionism it can actually become damaging. Perfectionists often find it hard to finish projects and move on – this is something you may need to watch for in others as well as in yourself. The truth is that ‘good enough’ is often better than perfect. As bestselling author and marketing guru Seth Godin says, you need to ‘Ship It’. Settimelimits There’s nothing like a deadline to focus the mind. You can give yourself mini deadlines to help get more done every day. One approach is to work in specific time slots by setting an alarm – perhaps for 30 minutes or 1hr. That way you avoid spending too long on tasks that don’t warrant any more attention. You can also use this approach with the types of activity that commonly suck time – like email and meetings, for instance. Tackleyourinbox A full inbox is like a very long to-do list and it can be very debilitating. Make time each day to deal with emails and clear as many as you can from your inbox. It’s a good idea to create email folders so you can keep important correspondence in specific places. It’s also worth unsubscribing from unwanted emails on a regular basis. Learntosayno When you are starting out, you often say yes to anything and everything in order to get your business off the ground. But as your business grows, you need to learn to say no to opportunities that aren’t right for you. Saying no can be hard but don’t be afraid to make a decision based on your business needs and then stick to it. Findyourbesttimesforkeytasks We are not robots. We don’t work at the same pace or intensity all day long, so it makes sense to match the task to the time of day. Anything that requires concentration should be done when you are most alert. By the same token, plan to do less taxing jobs during natural low points. You could even use these times to get out and do some exercise. It’s entirely up to you. You can create your own timetable based on your own needs.
- 8. Sixways to blockout distractions 1. Turn your phone to silent 2. Shut down your email and turn off any alerts 3. Ignore your social media 4. Close all your other software and apps 5. Ask your colleagues not to disturb you or put on some headphones 6. Find a quiet place to work
- 9. 9 | GuidetoTimeManagement 2. Flexibleworking Flexible Working isnotjustaboutworkingfromhome.It’saboutmaking aworkschedulethatfitsyourneedsandthoseofyourstaff.Flexible working candeliverrealbusinessadvantagesincludingimproved efficiency,amoreempoweredworkforce,increasedemployeeretention, less sicknessabsenceandworkinghoursthatsuityouandyourteam. Above all, it can tackle the problem of ‘presenteeism’ where staff turn up for work, but don’t necessarily reach the goals you have set. For a small business with limited budgets, flexible working can also save money on office space. For sole traders that want to expand their business, for instance, it can be more affordable to take on freelancers or staff who can work from their own home. If you want to introduce flexible working into your business, start by speaking to your staff about their needs. Agree areas of responsibility and set up clear lines of communication. Make sure these members of staff are supported at all times.
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- 11. 11 | GuidetoTimeManagement 3. Workingfromanywhere Beingyourownbosscanmeananendtocommutingandlonghoursspent inanoffice.Infact,manypeoplethathavesetupontheirownfindthatthey canworkanywhereandtheyenjoythefreedomthatthisbrings. Mobiletechnology There are three key things you’ll need to stay connected wherever you’re working – phone, email and Internet. You can supply the laptop and smartphone and you can also use a dongle to get online. However, whether you prefer to work in a café or a dedicated business centre, you’ll also want reliable Wi-Fi and access to a power socket. The best way to replicate the office experience is to make sure you have access to all the files you need. Cloud computing allows you to access and share everything online from any Internet- enabled device using tools like Sage One Accounts and Sage One Payroll with Google Drive. Mobilesecurity Working remotely can increase security risks. The potential for losing your smartphone or laptop is greater and the chances are that the content on them is far more valuable than the devices themselves. However, this is another benefit of using cloud-based software and apps where the data is stored and backed up online. Public Wi-Fi networks, such as those provided by hotels or cafes, are not as safe as you might think. Protect yourself by turning off sharing to other devices, make sure your firewall is turned on and turn Wi-Fi off when you are not using it. Finally, be careful with Bluetooth on your phone. If it’s switched on, other people can potentially connect to your signal.
- 12. 12 | GuidetoTimeManagement Nineapps that could boost yourproductivity 1. Sage One mobile app: Ifyou use Sage One Accounts, the Sage One mobile app lets you manage contacts and raise invoices on the move 2. Google Apps for Business: This is a range of free and paid-foronline tools that let you upload and access files online that you and others can edit simultaneously 3. Google+ Hangouts: Similarto a video chat on Skype, Google+ Hangouts are a great way to hold meetings with up to 10 people across multiple geographical locations and to share information with yourcustomers too 4. Trello: A free and visual web and mobile-based app formanaging to-do lists 5. Dropbox: Forget USB sticks, with Dropboxyou can sync yourfiles across all yourdevices and share documents via the cloud 6. Hootsuite, TweetDeck and SproutSocial help you manage multiple social media accounts from a single dashboard 7. Evernote: Always looking forscraps of paperwith important information on them? Evernote allows you to keep notes, ideas, photos and even audio in one place which is then searchable online 8. PasswordBox: Allows you to keep trackof all yourpasswords simply and securely 9. Basecamp: This is a project management app forteams that workremotely, allowing you to manage and deliverprojects on time and keep communication away from youremail Nineappsthatcould boostyourproductivity 1.SageOnem obileapp 2.GoogleAppsforBusiness 3.Google+ Hangouts 4.Trello 5.Dropbox 6.Hootsuite,TweetDeckand SproutSocial 7.Evernote 8.PasswordBox 9.Basecam p
- 13. 13 | GuidetoTimeManagement 4. Workingfromhome Studies showthatpeoplewhoworkfromhomeare,onaverage,more productivethantheirofficecounterparts.There’snocommuteandtherecan be fewerdistractionsifyouhavetherightset-up.Thereareafewkeypointsto thinkaboutwhenyoudecidetoworkfromhome. Createadedicatedworkspace It’s vital to separate work and home life as much as possible. Whether you have a dedicated room or a corner space, you’ll need to keep it tidy and try and separate it from any domestic clutter. The ideal scenario is a room of your own. If you don’t have a spare room, consider creating an office in an attic or a garden shed. A separate space allows you to work without too many interruptions; it also enables you to close the door on work at the end of the day. Investintherightequipment You can run a home office with little more than a desk, chair, computer and phone. But you do need the right kit. Make sure your chair is designed for computer work and that your desk is the right height. The screen should be at eye level, your feet should be flat on the floor and your back should be straight – that’s not easy if you work at the kitchen table. You’ll also need Wi-Fi and perhaps a printer too. Don’tblurthelines Being at home can present a whole new range of distractions – last night’s washing up, the lure of the TV, snacking and noises from the rest of the family. It’s important to be disciplined with your time. Set a daily start and stop time and don’t drift in and out of work mode. It’s not just about productivity; it’s also about making sure that work doesn’t intrude on your time off. Beprofessional Just as you would in an office, you’ll need to work out how to handle and store sensitive information. You need to keep customer data and sensitive financial information safe. In an increasingly paperless world, you may not need lots of filing cabinets but you do need storage solutions for your paperwork and any supplies you stock. Health and safety laws also apply wherever you work so make sure you check out the handy ‘getting started’ guide on the Health and Safety Executive (HSE) website.
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- 15. 15 | GuidetoTimeManagement 5.Officesystems Havingtherightsystemsinplaceiscrucialifyouwanttomakethemost ofyourtime.Accountingandbookkeepingsystems,filingsystemsand businesssoftwarecanallhelptomakesureyourbusinessrunssmoothly.It’s alsoimportantforbusinesscontinuitysothatthebusinessdoesnotsufferif keymembersofstaffleave. Good systems give you facts at your fingertips; they help you identify problems and help you make better decisions. Key business systems include: • Bookkeeping systems: Sage One Cashbook is an easy, low-cost way to record money going in and out of your business, keep an eye on your cashflow and collaborate online with your accountant or bookkeeper if you have one. • Accounting systems: Sage One Accounts is a more advanced system that allows you to create and email invoices, submit VAT returns online and connects with Sage Pay too if you’re selling online • Payroll systems: If you’ve got employees to pay, you’ll need a payroll system that is up-to-date with the latest legislation. Sage One Payroll costs from just £5 a month and is compliant with HMRC legislation like Real Time Information (RTI) of PAYE and Automatic Enrolment of Workplace Pensions. • Sales management systems: A system like Sage CRM, will help you to keep all your customer data in one place, identify prospects and maximise sales.
- 16. 16 | GuidetoTimeManagement Havingtherightsystemsinplaceiscrucialifyouwanttomakethemost ofyourtime.Accountingandbookkeepingsystems,filingsystemsand businesssoftwarecanallhelptomakesureyourbusinessrunssmoothly.
- 17. 17 | GuidetoTimeManagement 6. Lookingtothelongterm Day-to-day‘firefighting’oftenmeansthatsmallbusinessownersdon’tmake time toplanahead.Thisiswhathappenswhenyouaretoobusyworkinginthe businesstoworkonit. Planahead Planning ahead is vital if you want your enterprise to grow stronger. Having a robust business plan gives you clear goals and something to benchmark against. The best timeframe to focus on is one to three years. Your plan should include market research, financial data, sales forecasts and marketing and pricing strategy. Learntodelegate In our ‘Growth Survey’, 95% of respondents said they had plans to grow their business with 16% planning to take on more staff and 14% planning to use more freelancers and outside consultants. If you started out as a sole trader (or still are one), you’ll know how difficult it can be to hand tasks over to others. It can be tempting to think that it would be easier just to do it yourself but delegating is a vital part of managing your time. The first step is to choose the right tasks to pass on to others. As the business owner, you should be focusing on core business strategies such as finding new customers and developing markets. By delegating some specific tasks, you can free up time to drive your business forward. A good place to start is to identify those jobs that just don’t play to your strengths and which are better done by someone else. If you don’t have the budget to recruit a full-time member of staff, you can employ freelancers, consultants and virtual assistants. Delegating is about communication, support and trust. You’ll need to brief your staff well, set clear goals and expectations, give them deadlines and review progress. Make sure you provide any necessary resources and training and be clear about levels of responsibility.
- 18. 18 | GuidetoTimeManagement 6.Lookingtothelongterm Lookafteryourself Pressureand stress are never far away when you run your own business. But when the buck stops with you, it’s important to look after yourself. Get the basics right first. Lack of sleep will adversely affect your performance; it can impair your memory and it won’t improve your mood either. It’s also important to get regular exercise. If you are stuck in the office for hours or you work at home, regular mini breaks are vital – look up from your computer screen from time to time, have a glass of water or take a quick walk around the block. Make sure you are eating properly and avoid too much caffeine. Running a business is a marathon, not a sprint, and you need to develop mental toughness to stay the course. Relaxation techniques such as deep breathing, meditation or exercise can help. Don’t let negative thoughts bring you down. Focus on the positives by remembering the reasons that you set up on your own in the first place and focusing on your skills and strengths. You can hear some great advice on dealing with stress and focusing on what’s really important in life in our ‘Sage One Hangout with Brad Burton’. What is mindfulness meditation? ‘Mindfulness’ meditation is a proven way to reduce stress. A study by the University of Oxford found that an online mindfulness course offered by the Mental Health Foundation reduced anxiety by 58%, depression by 57% and stress by 40%. This simple technique allows you to let thoughts drift in and out of your mind as you concentrate on your breathing. There are lots of online courses and just ten minutes a day of mindfulness meditation can give your brain a rest and help you take a step back from the day-to-day stresses of running a business
- 19. 19 | GuidetoTimeManagement 6.Lookingtothelongterm Improveyourwork-lifebalance Facebook’sSheryl Sandberg makes a point of going home at 5.30pm every day to have dinner with her family. Richard Branson advocates making time for play as well as work. These highly successful business people are committed to creating a work-life balance that works for them. How you plan your work-life balance is entirely up to you. It could involve making time to pick up your kids from school or making sure that you have time in the week to enjoy your passion, be it cycling, going to the gym or amateur dramatics. Creating a balance is good for you and it’s good for your business. How to improve yourwork-life balance • Try to keep to regularwork hours • Make time for family, friends and hobbies • Do regular exercise • Take small breaks to avoid burn out • Set limits for checking email and social media • Delegate more
- 20. Pressure and stressare never far away when you run your own business. But when the buck stops with you, it’s important to look afteryourself.
- 21. Sage (UK) Limited NorthPark Newcastle upon Tyne NE13 9AA t: +44 (191) 294 3000 f: +44 (191) 294 0002 www.sage.co.uk 014 LC Needmorehelp? Formore free business guides, tips and advice, visit our Sage One blog at http://uk.sageone.com/blog/ (UK) and www.sageone.ie/blog/ (Ireland)