Time management tips for entrepreneurs

Everyone knows the phrase “time is money,” but only entrepreneurs know just how true that phrase is and how hard time management can be.

Small clock with 4 hands on top wooden blocks that spell out 'How good is your time management?', calculator and highlighter pens in the backgroundAs a start-up business owner, it’s likely you’re the one in charge of every aspect of your business. Operations, sales, accounts and bookkeeping, marketing and more are all down to you. As small business accountants, Berley understands that certain tasks require more time than others and that as a result, time management may become difficult. We’ve compiled a list of time management tips to help you run your business smoothly.

Have a calendar

List a few bullet points on a calendar to help you visualise when tasks need to be done. This will also help you prioritise based on deadlines, such as the date to file your yearly report to HMRC. You may even want to colour code these so that you can see at a glance what needs to be done next. Keeping your calendar in a prominent place – for example, on the fridge or a bedroom or office wall – will also act as a constant reminder and encourage you to complete tasks. If you’re like most people and regularly check your phone, it may be a good idea to use its calendar feature to track your tasks and set yourself reminders. Remember though that different people have different needs, and there’s no shame in sticking to good old-fashioned pen and paper.

Take advantage of technology

We live in a world where technology is at our fingertips, so it’s best to make the most of it. All businesses – small and large – can take advantage of apps like Skype, Zoom or GoToMeeting for business calls and video meetings, calendar reminders and automatic syncing to make business life easier. Additionally, cloud accounting software like Xero makes it easier to manage your accounts. It allows you to work on them from anywhere at any time, and also allows multiple people to work on it at the same time. You can also look into installing a time management app. Rescuetime, for example, has a multitude of features to help you make the most out of your time. Read our Five Business Growth Boosting Apps for Entrepreneurs article for more ideas.

Start with the task you least want to start with

Instead of putting off a difficult task, start your day by taking the bull by its horns and completing the task first thing. That way it’ll be out of sight and out of mind, and you can spend the rest of your day breezing through work you enjoy without the dreaded task looming on the horizon.

Keep a diary

Did you know writing things down can make you feel better? Studies have shown a positive correlation between writing and health. Journaling is often even used in therapy sessions to tap into powers of free association. Having a physical diary helps you jot down ideas and keep track of them, and is also useful to keep appointment notes. Having a daily planner is better for those with a busy schedule full of meetings as it gives you space to write everything down and allows you to expand your notes with necessary details.

Break up your tasks

Where possible, give yourself small targets. This could be breaking down a writing task into 500 words an hour. This will prevent the feeling of being overwhelmed. Breaking up your tasks could also mean delegating them so that you can allow someone with more expertise in a specific field take over. If this means having to hire employees for the first time, read our article on ‘Hiring Dilemma’ for expert tips. The most important thing to remember when trying to stick to deadlines and growing your business is that it’s ok to get help from others when you need it.

Working with Berley

Delegate your finances to an accountant to save time. Berley Chartered Accountants can help London-based businesses like yours with well-rounded financial and business growth advice, leaving you the time to run your business successfully. We are here to make your job easier and to ensure that you are confident in your prospects for growth with our business growth specialists by your side.

Call us on 020 7636 9094 to discuss how our small business accountants can assist you. Having like-minded entrepreneurial accountants on your side is what helps a business grow.