Time Management

Running a Business: Lesson 5

Monique Merriweather discusses the importance of time management.

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Video Lesson Topics

- Good Time Management in Businesses

Businesses that utilize good time management are better positioned to deliver their product or service on time. Proper time management shows that a business is able to solve problems that arise, without significantly impacting day-to-day operations. A planned, structured schedule provides extra time for problem solving or unforeseen circumstances.

- Tips on How to Improve Time Management

Prioritize- Prioritizing each item on your to-do list will help you stay focused on hitting your day-to-day and overall goals. Ask yourself, “What needs to be completed by the end of today?”. Rank each item by its importance or deadline.
Set Measurable Goals- Setting measurable goals is important for both business owners and employees. Establishing clear goals will help you measure the success of your work and effectively track progress. As a company, you should be asking questions such as, “Where do we want to be next year at this time?” or “How much revenue do we need to make next month to stay on track?”. The answers to these questions form measurable, tangible goals that you can communicate to your employees.
Plan Ahead- Planning ahead today saves you time and unnecessary stress tomorrow. Once you have established your goals, you can start working on a feasible timeline to achieve them. An important part about planning is being realistic about what you can achieve. Ensuring that you have enough time to deliver a high quality product or service should always be a top priority.
Know When to Delegate- As a business owner, your time is often divided between day-to-day operations and big picture responsibilities. Knowing when to delegate tasks to other team members can save you a lot of time. A great way to decide what should and should not be delegated is to estimate the time it would take someone else to complete the task. Would it involve extra training, and would reviewing their work take too much time?

Topics & Lessons

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