Being an entrepreneur is probably the most time-consuming job in the world. Rushing between meetings, presentations and other responsibilities, young entrepreneurs often find themselves lacking enough time to pursue their work and get their hands stuck into the projects they want to. Here are 6 essential time management tips for young entrepreneurs.
1. Make the list
And not just any list – the master list. It can be daily, monthly, yearly; you name it. You might think you’ve got a firm grasp on everything you want to accomplish, but many ideas get lost in the process.
Creating lists will only do you good. They will help you to keep going in the right direction and remind you which tasks are really important and require your full attention. This in turn will help you to manage and prioritize your activities. Plus, isn’t it satisfying to tick off one completed task after another?
2. Use your resources well
Knowing how to use all the resources available to you is extremely important. They can help you to avoid mistakes and support your venture in many different ways. From colleges, schools, institutions, professional associations and networking groups, you’ll find them all to be valuable as repositories of knowledge and perspectives that might help you to save lots of time and help you gauge reactions.
3. Learn to prioritize your tasks
As a young entrepreneur, you probably know the value of getting things done. Malcolm S. Forbes once said “One worthwhile task carried to a successful conclusion is worth half-a-hundred half-finished tasks.”
That’s why it’s important to organize your work in such a manner to help you complete as many tasks as possible during a defined time frame. With good organization skills, you’ll never find forgotten, half-finished projects on your desk anymore.
4. Know how to delegate tasks
At some point in your career, you’ll find yourself so busy that continuing to do certain tasks will only cost you time you could otherwise invest in something more important. In your journey toward entrepreneurship, you’ll have to learn how to delegate your work to others.
It’s important to know which things you can do very well, detect other activities that can be done by others and proceed to delegate tasks to your team. The ability to accurately delegate tasks is a mark of true leadership.
5. Avoid time thieves
The more success you achieve, the more important will your time become to you. That’s why you need to take extra care in developing the ability to detect and avoid time thieves. Those can be people, but also things – buzzing social media, cute cat videos, fascinating articles on Buzzfeed or various news websites with their tantalizing content.
Valuing your time, you’ll also learn how to value the time of others. Make your communications short and concise – be precise and provide clear instructions to stimulate the productivity of your collaborators or employees.
6. Find a role model
Since you’re still young, you can greatly benefit from having a mentor. Become friends with a business leader or one of the local entrepreneurs that you value – their experience and achievement will help guide you through the meanders of business.
Seneca once wrote “It is not that we have a short time to live, but that we waste a lot of it … Our lifetime extends amply if you manage it properly”. Even though in his times there were no busy young entrepreneurs running their own ventures, the words still apply – the better you manage your time, the more of it you’ll gain to invest in getting important things done.