My friend wanted to be successful entrepreneur. He left his job and started small business before few days. Business was running very well at starting, in order to save money he decided not to keep any employee. He was acting as one man army and doing all work required for business. Soon he started facing problem in managing time & deciding priority. He started facing loss in business and he has no option but to close the business.
Like my friend today many entrepreneurs and would-be entrepreneurs face the problem of time management. If you are operating on small-scale you can personally control every aspect of the business. But if you are operating on large-scale it is required to manage time and delegate task. You must learn how to manage your time and delegation. If you don’t learn this, you will never be free and your company will never grow. Today we will discuss about Entrepreneur Success and Time Management.
As an entrepreneur you should have skill of getting things done by other, In other word you should delegate as much as possible. If you don’t delegate work everything will flow through you and you may not able to do everything. Your company will get congested at the point where everything is passing through you. Instead of being leader, visionary and businessman you will become show stopper.
Remember as an entrepreneur you need to be effective leader. That means you have others under you for doing work and you need to get work done from them.
Daily you will get 24 hours and out of which you can give maximum 12-15 hours for business. As time is limited if you want to grow faster you must know how to manage time.
How Entrepreneur can do effective Time Management?
To get more time for doing business you should know three magic words and its usage. These words are:
Whenever any business related task is appearing in front of you, first you need to think that: Can this task be eliminated? (Is it really important?)
If this task cannot be eliminated as it is very important for your business, Second thing you need to check that: Can it be automated? (Any technology advancement can help to automate this task?)
Third and most important thing if this task cannot be eliminated, automated: Can it be delegated? (Any other person can do this task?)
As entrepreneur ask these questions every day. These questions will help you to streamline your business activities and you will not waste time by doing WRONG activities…..
Apart from delegating you must get rid of following Time management mistakes:-
- Not setting time limits on tasks.
- Ignoring important tasks.
- Too much time being wasted in meetings.
Once you know effective time management and power of delegation you can involve yourself in doing other productive activities of your business which will lead to business growth.
As entrepreneur your prime responsibility is to be effective leader who seek new business opportunity, stay focused, provide vision, and expand business. At the end of the day you need to create a profitable business. Everything else is secondary and cannot be accomplished without that one goal.
Time is more valuable than money, you can get more money but you can not get more time.