How To Manage Your Time As An Entrepreneur
A person who operates and undertakes an enterprise or venture and bears all the related profits and losses is known as an entrepreneur
. Entrepreneurs are busy people and time management is crucial to them. Irrespective of the business, time is a precious commodity for an entrepreneur. Here you will get information to help you get more sales and profits out of the limited time that can be invested in the creation of an enterprise.
We all know that we can produce twice as much income from our business by investing double the time for which we currently work, or by putting forth double the amount of efforts. The path to success lies in working for the same time that we currently work, but making it twice as productive.
Initally you must know that time can be classified into two categories. The first is known as 'opportunity time', during which we achive our business targets such as choosing new products to advertisments and markets, providing follow-up services and making some test marketing to accessible clients. The subsequent is replenishment time, during which we restore our power through relaxation, recreation, exercise, and sleep. If we do not spend enough time for replenishment then we will soon be facing a burnout during which we will neither be physically fit nor successful in our business decisions.
It is astonishing to know how much of our business time can be exhausted by minor interruptions until we make a decisive effort not to let that happen. Successful entrepreneurs are tough enough not to let these interruptions occur during his or her productive business hours. Mostly, the activities or the work that consumes most of our time is usually pointless things which we don't mind spending our time on as they are easy to work upon, while the things that are very important to do and require focus are usually left behind.
The key thing to do is to divide our work in the sequence of importance or priority and divisions like production, sales, marketing etc. Do not do inventory work or cleaning your desk or filing during sales times. These things should be done during free time.
Successful business people at all times work on the most important tasks first of all. If you face an issue or a challenge in your work to which you do not have an immediate solution, concentrate as much as you can to arrive at an answer, if you are not able to then write down the concern and then the possible solutions that come to your mind. If you do not get the solution then set it aside and return to it later that day. Allow your mind to work on the other important things for sometime. Then, when you arrive back to the concern or challenge, you will probably have a better and fresher perspective on it and find the perfect solution for the same.
Just being a little wise and prioritizing the work will go a long way in helping an entrepreneur manage his or her time efficiently.
by: Gary Pettit
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