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BreakingBounds.com Blog

Saturday, November 17, 2007

Tips for Managing Your Home Business (So it does not manage you!)

Copyright Victoria Archibong

The Problem of Time Management

Do you know what is interesting about the concept of Time – the fact that it is absolutely uncontrollable? And if you already manage a home business, then you are also probably aware of how it can consume most of your time. Most likely, this happens against your will. After all, there are probably many things that you want to do with your time, such as spending time with your spouse and your children, going out with your friends, listening to music, reading, swimming or whatever. And yet, the task of managing your home business seems to take up all of your time. What can you possibly do to avoid this very common pitfall?

What has just been described here is a classic example of a time management dilemma. Millions of people, not just home business owners, feel that they are not in complete control of their time. This tends to make people miserable, since most people want to feel in control of their lives. After all, what is your life but a measurement of your time? As long as you are unable to spend your time in a manner that you wish, you will never be truly happy, no matter how much money you earn or how many accolades you receive.

Managing Your Time Properly

The first key issue in effective time management is to set your priorities right. The cardinal rule of time management is this - set your priorities. In life, there is probably nothing more important than setting your priorities, since they will set the stage for just how much time you will spend on each area of your life. You must clarify in your mind exactly what you want in life, and determine to spend more time on those things that you feel are most important.

In the immortal words of Goethe - Things that matter most must never be at the mercy of things that matter least - If your home business is the most important to you, then it is only right that you use most of your time on it. But if it is not, you should begin to scale back on the time you spend on it.
You can do this by either 1) delegating or outsourcing - get someone else to do the job for you.
Or 2) scale back on the amount of work you are already doing.
Remember, you own your home business, it does not own you. So always keep that at the back of your mind.

Watch out for those time killers.

Another key thing you need to look out for is to watch out for the time killers, the time wasters - both subtle and the obvious ones. There are a great deal of time killers in this world and in order to manage your time effectively well, you need to watch out for these silent time killers, identify them and stay away from them.
What are the major time killers?
Telephone calls - this is the number one time killer. To solve
this problem try to always be brief.
Chatter boxes - They waste not only your time but their time as well. Steer clear of such people.
Traffic jams – You can effectively utilize the time that would have been lost in a traffic jam by reading, listening to motivational / educative audio tapes, etc while tied up in traffic.
Finding parking spaces
Meetings
Bad machinery
Long queues

Once you have mastered how to manage or completely eliminate these primary time killers, then you can put your available time to the maximum possible use.

When you work, work. Try to avoid or completely cut out the time wasters and time killers and you will be the better for it.

Get organized

If you are better organized you have a better chance of managing your time effectively. So what is this art of getting organized?

Prepare and have handy a to-do list everyday.
A roughly written and scanty to do list is much better than and still more dependable than even the most reliable memory. So try to have a daily to – do – list, even if it is not properly written. The advantages are enormous, as they can assist you in being organized and focused, thus achieving more per day. This is the most sensible thing to do, especially for the busy person.
Planning
Plan what you have to do well in advance. It is a good idea to have daily, weekly and monthly plans.
Prioritize
Prioritizing helps in meeting deadlines and gives you a general overview of what needs to be done, when, and in what order.
Once you master these time management tips, you will find that you will be able to begin to achieve much more each day than before and you will still have enough time to spend with your loved ones whilst still putting in your best in your home based business.


About the Author:

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