July 20th, 2018

Business Beat: Time management strategies for aspiring entrepreneurs

By Medicine Hat News on April 4, 2018.

There never seems to be enough time in the day to achieve all the tasks needed to move a business idea forward. Aspiring entrepreneurs often struggle with managing the demands of building a new business with a limited amount of time and resources.

There are though, a few simple ways to make your time and achieving the goals of the business a priority without feeling stressed and overwhelmed. Here are four tactics to help better allocate your time and energy, and put a big focus on outcomes rather than simply getting work done.

1. Identify the top three must-do’s of your day, get them done and forget about the rest.

Over-scheduling is a common time management mistake often made by entrepreneurs. When building a business it is important to define what really matters to the success of your venture, the same is true with task management. The process of identifying a few key things to complete each day and finishing them, is more effective than creating massive lists of tasks that are impossible to achieve.

2. Schedule dead space in your calendar and block out meetings first thing in the day — mornings are everything.

Setting time aside to organize yourself might seem counter-intuitive, but this is a skill and a strategy employed by many successful entrepreneurs and CEOs. Blocking a bank of time in your calendar as “busy” on Monday mornings for example, even if only for one hour, is a great way to allow for increased organization for the entire week, allows for making personal wellness a priority and is a good way to organize your thoughts and strategy for the week ahead.

3. Start your day with a simple task and work down your task list by checking off an easily achievable chore first.

Entrepreneurs have a range of tasks facing them each day consisting of those that are very easy to challenging. A great way to build confidence and optimism into a busy schedule is getting something done quickly at the beginning of your day. It’s always best to look at your task list, and start with a few easily achievable undertakings and then hit the tougher responsibilities next.

4. Create a routine work schedule and stick with it, even if it means losing a bit of freedom.

As an entrepreneur it is tempting to work when and where you want, but often this creates an environment where distractions and “busy work” can enter in. Starting at the same time each day, and structuring your schedule into blocks around client meetings, building the business, and administration time can help you be more effective and organized.

So get organized. Making time management and organization a priority is an important factor in building a successful business and maintaining personal wellness. You and your business are worth it.

The MHC Entrepreneur Development Centre helps student and alumni bring their entrepreneurship dreams to life. We offer one-on-one coaching, training, mentorship and access to a diverse network of startup funding. To connect into our network email edc@mhc.ab.ca or call 403-502-8433.

Christie Dick is the entrepreneur advisor at Medicine Hat College.

 

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