Time is "money"? Here I’m quoting Benjamin Franklin, and this saying is as true now as it was being said back then. Having effective time management is one of the most important skills for all businesses. Whether you’re a small to medium sized enterprises (SMEs) or not, managing your time is something you have to work on from day one.
Every business owner is pulled in so many directions from the get-go; having to manage our time and resources and “burn out” is a real thing; I see it most months in my office. The scope of work covered by a business owner extends way outward of our marketing efforts, of course.
For business owners and (employees alike), the ability to manage time effectively can spell the difference between success and failure. Efficient time management enables us as SME’s to optimise productivity, fulfill client demands, and sustain / maintain growth.
Setting Clear Goals and Priorities
This is where we should all start. In order to have effective time management, we need to set clear goals and priorities. I’m sure you oftenjuggle multiple projects, so It’s crucial to establish what is most important. Start by categorising tasks based on urgency and importance. The Eisenhower Matrix is an excellent tool for this purpose. By sorting tasks into four categories—urgent and important, important but not urgent, urgent but not important, and neither urgent nor important—businesses can focus on what truly matters.
Planning and Scheduling
Now that your priorities are set, the next step for us is to develop a planning and scheduling system. I have used Google Calendar for years, but you may prefer Microsoft Outlook. These are both widely used tools that offer features like reminders, shared calendars, and task lists and can help organize our day-to-day activities. You should encourage you and your teams to block time for specific projects and stick to these schedules as closely as possible.
Your Technology
Understanding and using the appropriate technology can significantly enhance time management by automating repetitive tasks and streamlining processes. Tools like Monday, Trello, and Asana allow teams to track project progress, assign tasks, and manage deadlines. For businesses like ours, these platforms facilitate transparent communication and accountability, which is even more important for sole traders and small businesses alike.
For example, a digital marketing agency leverages Trello to manage content calendars and client campaigns. Each team member is aware of their responsibilities and deadlines, enabling them to focus on delivering quality work without unnecessary distractions.
Prevent Time Wasting!
Identifying and eliminating any and all time wasting is crucial for maintaining productivity. Time-tracking apps like Toggl and Clockify can help us monitor how time is spent and identify areas for improvement. Regularly reviewing these reports enables businesses to refine processes and eliminate inefficiencies. It takes a bit of discipline to get started, but over a period of time you’ll gain a much better understanding of where you’re using your time and this should help you use it better.
In-Team Communication
You’ll notice I didn’t say in-house. As we grow, we tend to work more and more with freelancers and independents, and having an effective communication plan is fundamental to time management within these "teams.". Encouraging open and concise communication within them minimises misunderstandings and duplicated efforts. Tools like Slack, Asana and Microsoft Teams facilitate real-time communication, allowing teams to share updates, files, and feedback instantly.
Delegating Effectively
This naturally follows from in-team communications, of course. Delegation is a critical skill for business owners and managers. By handing out tasks to capable team members, we can focus on the high-priority activities that drive growth. It’s important to identify the strengths and weaknesses of your team and assign tasks accordingly.
It can be difficult to do this, and it takes trust both ways. By utilising your team this way, you’re building the team and advancing the business. Expect a few bumps on the way, but let’s just say, “it’s character building”.
A Better Work / Life Balance
Establishing clear boundaries between work and personal life is also vital for long-term productivity and well-being. It’s expected that a startup will be "all-consuming" at the beginning, but over time you should learn to separate this from your personal life or it could start to become harmful. A friend mentioned to me a few years ago, “we don’t save lives” and it's true, we don’t, so what is the harm of stopping? As long as you manage your clients, teams, or managers expectations, there is rarely any need to get angry or upset. As small business owners, we should promote flexible working practices and encourage employees to take breaks and use their leave effectively.
Continuous Learning and Adaptation
How you stay "leading/cutting edge” or competitive is up to you. However, it’s important that although we may not want or need to “lead the charge”, we do need to try and stay in step with it, or we likely get left behind.
We only get to keep our staff by encouraging continuous learning, and this helps employees develop new skills and embrace new practices. Regular training sessions and workshops can provide valuable insights into the latest trends and tools for time management and business efficiency. Don't forget to upskill yourself too. Every business space is transforming so fast these days!
Setting Realistic Deadlines
How you set these up is the important thing! Setting achievable deadlines is critical for maintaining project momentum and also for you or your staff's morale. Unrealistic deadlines can lead to stress and burnout, whereas well-planned timelines facilitate smooth project execution.
We both should work with our teams to establish realistic deadlines that consider the complexity and scope of tasks needed to complete a project. Naturally allow for Bank Holidays, staff time off and the inevitable lag that crops up at times. Reaching someone can take a day or two, or the supply chain can slow down. Allowing for this could actually mean you gain time in some respects, but doing this takes the stress out of the whole team or project.
Celebrating Achievements
The reason I have added this here is simply because most business owners don’t! Its handy for morale of course, but it also makes for some great content as well.
Recognising and celebrating milestones is an effective way to motivate teams and reinforce the importance of time management. Acknowledging achievements, whether big or small, fosters a positive organizational culture and encourages employees to strive for excellence.
For example, I heard about this client from a colleague last year. A craft brewery in Cork hosted monthly gatherings to celebrate project completions and sales milestones. I know because she attended them. These events not only boost team morale but also reinforce the importance of collaboration and effective time management.
No one wakes up and implements this in record time—honestly, it took me years, so if you’re planning to "up-the-ante", so to speak, then consider this blog like a checklist. Aim to achieve one of these per month. By understanding your priorities, utilising free or cheap technology, promoting effective communication between you, your team, and suppliers, and hopefully maintaining a healthy work-life balance, you will be able to optimise your own business operations and aid your sustainable growth.
Don’t be afraid to reach out to mentors, your peers, or me. You’ll be surprised how much our SME community likes to lift each other up.
Working with clients Nationwide from base in Mullingar.
