Are you trying to run more than one business at the same time? Every entrepreneur knows that racing the clock every day is a major challenge. When those demands are multiplied, the success of each business may become compromised without disciplined time management.
Most business owners understand the importance of establishing and maintaining organization to help their businesses succeed. However, they may remain at a loss how to wrestle down a million demands pulling their attention in opposite directions.
Here are some time management tips, which are particularly useful for managing multiple businesses:
- Focus on one task: When you start the day, your head may start to spin as a million different projects call for your attention. For example, you may need to respond to phone messages, develop sales materials and contact prospects. If you jump back and forth between different businesses and projects instead of completing one step, you will scatter your time and energy, reduce productivity and find that little has been accomplished at the end of the day.
- Identify specific audiences and availability:If you are randomly targeting prospective customers, you may end up with zero sales activity and wasted hours. To use each minute of your workday wisely, identify interested prospects for each business and the times that they are available. For example, if you need to reach international contacts or those in other time zones for different businesses, plan communications accordingly.
- Complete administrative jobs during off hours: Now that you’ve clearly identified and blocked off prime time for reaching prospects, avoid using a single selling minute on administrative tasks that can be completed during less vital periods. Although allowing enough time to recharge your batteries is essential, can you take an hour or two to complete invoices and write checks during the weekend? Finding a small block of time to handle paperwork and other tasks that are not time sensitive will allow you to keep sales efforts for each business at their peak.
- Avoid losing hours on email and Internet surfing: Do you feel compelled to read every email received and click articles linked in newsletters? To make the best use of your limited time, resist temptations that will not directly benefit your businesses. Instead, scan the list of messages and open only the ones that will contribute to the success of each one. Then, trash the remaining emails quickly to avoid stockpiling old messages and losing a vital portion of each day–trying to sort out an unwieldy mess.
- Determine optimum productivity periods:Do you wake up feeling sluggish and need a few hours to work your way out of a morning mist or thick fog? Do you feel sharper after lunch or a round of exercise during an afternoon break? To complete projects efficiently, tackle the ones that require the most concentration when you feel the most alert.
- Designate morning or afternoon for each business: Instead of jumping back and forth between business, reserve blocks of time for each one. If one requires making phone calls, consider the optimum time for reaching prospects. Then, tackle tasks that can be completed independently for your other business during chunks of time toward the end of a day.
- Move each business forward by taking at least one step every day: When you look at ever-growing to-do lists, you can feel overwhelmed quickly. To avoid inertia or dizzying confusion about where to begin, select one priority to address. Spend the allotted and available time to make progress on that single task.
- Update a time management calendar and check off to-do lists: When a million details are floating randomly in your head, you will end up chasing your tail and waking up in the middle of the night in a panic. At the end of each workday, take the time to update a time management calendar with to-do items to stay organized. As you check off each entry, you will feel a satisfying sense of control and accomplishment.
- Create notebooks or digital folders for each business:Are you constantly wasting time searching for an important message from a client? Did you lose an hour trying to track down an article you read months ago about the latest developments in your industry? As soon as you read a useful item, label and file it in an easily retrievable way. When you take a minute to jot down ideas that can evaporate in an instant or list names of contacts, which you may not recall a month later, you will ultimately save time–and unnecessary aggravation.
- Allow time to prepare for the following day: After juggling multiple projects during a speed-of-light day, your energy may dip as dinner calls. Before you shut down completely, allow at least 15 minutes to clear the clutter from your desk and mind. Prepare for the following day’s tasks and meetings, so you are not scrambling the next morning and starting the day on the wrong foot.
Then, allow yourself time to unwind, so you can rest and recharge completely. By following these time management tips for managing multiple businesses, you will juggle them efficiently and increase the chances for success.
Three Essential Time Management Tools to Maintain Business Organization
Even business owners with the sharpest memory need practical tools to keep their businesses on track. They need effective time management documents to make sure that daily tasks do not slip through the cracks.
Here are several tempaltes from Starting Business that are vital for every entrepreneur, especially when launching or running more than one business at the same time:
- Time management calendar: Did you ever miss a deadline for delivering a promised order? Did you forget to attend an important meeting or show up on the wrong day or time? When you use this important tool, you can put an end to these embarrassing scenarios and build the credibility of your business exponentially.
- Weekly planner for multiple businesses: Along with scheduling your time carefully each day, you need to keep the larger picture in mind. This tool will give you some perspective, so you can have an overview of each week. Instead of simply thinking about immediate and pressing needs, you will remember to consider larger goals.
- Time management worksheet: If you’ve ever tried to manage a budget doing the calculations in your head, you know that this approach can result in a disastrous situation. In your rush, you may miss a critical entry. Similarly, writing down the estimated time needed for each project will result in a more accurate reading–ultimately allowing you to deliver your products and services exactly when promised.
Critical Ways to Build Business Productivity, Credibility and Dependability
Those who are running businesses based on creative inspiration may question or resist seemingly regimented approaches. Some entrepreneurs may mistakenly believe that they can remember all of the necessary details for each project or order. However, during busy seasons like the holidays, requests may start to spin out of control.
Every business needs a solid foundation, which starts with efficient time management. This valuable commodity will ultimately help you to achieve all of your business goals by increasing the following:
- Productivity: When you plan and manage your time wisely, you may accomplish more each day. Instead of allowing distractions to sidetrack you from the scheduled tasks, you will maintain a laser focus on your priorities. As a result, you can multiply your sales and increase the success of each business.
- Credibility: As many have discovered, the business world can be an unforgiving place. If you miss a deadline–even when an unavoidable crisis arises–you may not be given a second chance. A client may turn to a competitor, and your credibility will take a serious hit.
- Dependability: For every business owner, dependability is the watchword of the day. Customers need to see you deliver on your promises and simply don’t want to hear that you were dealing with an order for a different business. By managing your time efficiently and responding to requests promptly, you can build your personal and business integrity–and watch your sales boom!
Essential Resources for Launching and Running One or More Businesses
Are you launching a new business and need all of the necessary resources to increase your chances for success? Are you running multiple businesses and searching for important resources including indispensable time management tools? In one convenient location, Starting Business has gathered all of the materials needed for enterprises in every industry.
Anyone in the competitive business world can benefit from these useful tools. With the proper planning and execution, you will extend the longevity of your business. Are a ready to get started, and give your business an edge?
Source: Library (business management)