You’ve no doubt heard of the 80/20 rule. It’s the old adage that says 80 percent of your business comes from 20 percent of sales. What you might not know is that this philosophy can be applied all across your business—especially when it comes to time management.
A small business owner’s work is never done, but how often have you spent hours laboring with things that don’t add to the bottom line? Running errands, cleaning the office or filing; it’s all important, but probably not the best use of your time. Try to focus on the 20 percent that will have the most impact on your business.
What’s your 20 percent?
- Weed out the non-important tasks and evaluate what you can successfully delegate, and hire someone to handle or outsource.
- Surface daily activities that can make or break your business.
- Find the most productive time of the day—this will depend on your personal life and the nature of your business—and use it to focus exclusively on your top priorities.
- Time management for the small business owner can be a secret weapon. Use it wisely.