Time Efficiency Tips for Business Owners

Time is one of the most important commodities when running a business. With the number of tasks a business owner finds themselves dealing with each day, it can sometimes get a little overwhelming. But by making small productivity changes, you can increase efficiency in your business in a big way.

Below we provide business owners with some tips on time efficiency.

1. Focus on one task at a time.

With a never-ending to-do list, you may be tempted to scratch off multiple items as quickly as possible, but you’ll get better results by slowing down and completing fewer tasks at once. Try tackling simpler tasks first, which can make it seem like you are scratching more off your list and motivate you to keep going.

2. Delegate.

Assign lower value items on your list to your employees opening room to focus on larger or more important tasks. When working on company projects, break them down into smaller sections over a longer period and make sure you have a deadline for when certain tasks should be completed by.

3. Communicate well.

Ensure your employees have a good grasp of what’s expected of them. Who is responsible for each task, what are the expectations for those projects, and what is the expected deadline? Check in with your employees about their assignments. Do they need help, do they like it, could they be doing something else?

4. Hire people who have different skills than you.

You don’t have to be an expert at everything. For example, if social media isn’t your strong suit, you could hire or contract out a social media coordinator to take on those tasks at your business.

5. Stay organized.

This goes beyond keeping your workspace organized – make sure you know where company documents are filed, be aware of when you are low on office supplies, structure your week as much as possible to know when certain meetings and phone calls are scheduled, etc.

6. Use every minute to your advantage.

For example, if you are waiting in line at the bank, take that time to respond to one-off e-mails on your phone.

7. Learn to say no.

As mentioned in point number two and four, you don’t have to be an expert at everything, and you’re allowed to say no and delegate certain tasks you don’t like or don’t know exactly how to do. By recognizing when to say no, you’ll have less stress, have more time to focus on other tasks, and overall you’ll be a better leader.

Click here to watch President of TorontoEntrepreneurs.ca Marc Belaiche, CPA, CA discuss this topic.

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