Small business owners in Central PA know that managing time may present challenges, particularly during demanding periods. These periods may include a busy season, times of growth, and unexpected times such as employee turnover. Managing all regulatory aspects of a business can be taxing, as can coordinating employee schedules, and addressing customer demands is a continued challenge. However, tweaking a few strategies or learning a few new ones may help with the ongoing time management battle.
Here are seven practical approaches to optimizing time management and maintaining productivity for small business owners:
1. Establish Clear Priorities
Success begins with strategic planning. If daily responsibilities seem overwhelming, defining and or redefining priorities can enhance efficiency when learning what to place efforts in. Some small business owners have found success in examining their to do lists and adjusting tasks based upon their priority. One may consider setting achievable and measurable goals. There could be value in taking this a step further by assigning specific time to dedicate to and/or complete the task. This can help ensure that everything gets attention. It may also ensure that adequate attention is given to these tasks. Perhaps evaluating and considering what tools you have available to manage your tasks could improve your time management skills. For example, Google Calendars (or other digital calendars) can support small business owners with follow-ups and reminders. Additionally, blocking time off on a calendar to ensure mandatory tasks, such as payroll are completed, can be of value.
2. Incorporate Technology for Efficiency
Investing a little time and money in automation can save you time and money in the long run. Small business owners who receive or make recurring payments may want to learn about options, including changing processes or accessing software that automates some functions to ensure they meet deadlines and free up their time for other tasks. Explore methods for improving communications with employees, vendors, and customers to improve production and decrease potential conflicts that can cost your small business valuable time. Consider how you can spend less time scheduling appointments using applications like Doodle or Calendly. These applications automate learning others’ availability, scheduling meetings, blocking off calendars, and creating reminders for increased efficiencies.
3. Consider hiring, outsourcing, and delegating responsibilities to others to improve your ability to manage your time and small business.
Small business owners often outsource administrative, financial, and other tasks to vendors to improve efficiencies. Small business owners may like things done a certain way but may sometimes need to consider that assigning them to team members will allow them to manage and grow their business. Consider taking a moment to meet with a local payroll provider specializing in small businesses, such as PaySmart, and learn how ensuring accuracy, compliance, and time savings could save you time. Instead of navigating complex tax withholdings and wage calculations, companies can rely on expert support while dedicating more time to growth and operations.
4. Group Similar Tasks for Increased Focus While multitasking often reduces efficiency, performing related activities one after another can improve workflow.
Email can be a productivity drain. Designate a time frame each day in which you respond to be able to focus on other tasks. Consider that blocking off time to review financial reports and tasks weekly can be productive vs. trying to respond to receivables and payables daily. When scheduling future meetings consider setting up reoccurring meetings so that the task does not need to be done repeatedly. Consider arranging consecutive meetings on designated days to minimize disruptions and establish a cadence.
5. Apply the 80/20 Rule for Maximum Impact
The Pareto Principle suggests that 80% of results stem from 20% of efforts. Identifying high-value tasks can help you focus your productivity on those that matter most and could help in, at minimum, prioritizing tasks. One may want to focus on Revenue-Generating Activities such as prioritizing supporting products or services that contribute the most to business growth. Consider enhancing customer service efficiency by providing automation for frequently asked questions on digital communications, voice mail, etc., or at minimum, provide times that your business is open when you respond to decrease duplicated inquiries and reduce time spent on responses. One may also consider when emails go back in forth alot that scheduling a time to talk could reduce administrative time. Some meetings may be replaced with email to save time.
6. Establish Boundaries and Maintain Work-Life Balance Maintaining productivity requires creating boundaries between work and personal life while also making time to rest and recharge.
Defining business hours clearly and communicate working hours to employees, clients, and loved ones can reduce distractions. Consider incorporating scheduled breaks which are proven to increase the ability for a small business owner to focus and prevent burnout. Make commitments mindfully. Have a plan to prioritize engagements to help you further your business goals and decline non-essential ones.
7. Proactively Address Seasonal Demands Preparing in advance can alleviate the stress that often comes with peak seasons.
Maintain an organization system that can ensure you reduce time in searching for records. Consider keeping tax documents, receipts, and payroll information updated throughout the year to avoid getting overwhelmed before a regulatory deadline. Preparing staff for multiple roles by providing opportunities to develop other skills through cross training, helps ensure your business can operate successfully during employee absences or unexpected terminations. Consider setting aside time for marketing initiatives during non-peak times. If summer is a peak for business and employee vacations, pre-schedule promotional campaigns, secure necessary inventory, and anticipate increased demand. Review previous campaigns to ensure future successes while maximizing your time.
Small business owners are masterminds at time management. When we work together as a team and share strategies and tips we can optimize performance and decrease stress caused by wearing too many hats.
PaySmart is a payroll provider in Mechanicsburg, Pennsylvania, supporting small businesses in the Central PA region. We are dedicated to helping small businesses with their payroll needs. To learn more about how PaySmart may provide payroll solutions, please contact us at 717-766-1777. Our New Client Concierge is waiting for you!