Time management forms the framework for everything that you do in the day – and everything that you could be doing in the day. With time management, productivity is the end goal. The more productive you are during the day, the faster your business will grow and the more profit you can turn as a result of your ongoing growth.
That’s why in this article, the Maple team explain the potential difficulties you can face if you don’t manage your time efficiently and we share some tips about how to increase your efficiency during the day.
What can happen if you don’t manage your time correctly?
Let’s start with the reasons why you should be investing in proper time management. There are plenty of positive reasons why you should do this, but it is more important that you understand what can happen if you neglect the way you spend those precious 24 hours you have in a day.
You miss your targets.
Improper time management can mean that you don’t have a set focus or goal in mind for a particular portion of your day. If you are unable to dedicate your efforts towards hitting an objective that you have previously set, you are far less likely to hit it at all.
Missing your targets can have a snowball effect on the rest of your business too. If you miss your personal targets, your staff members might think it is acceptable for them to miss their own targets. Your sales could decrease, and very quickly, you could have a cash flow problem on your hands.
You neglect some aspects of your business.
When you are rushed for time, you might overlook a portion of your business that needs more attention. It can be easy to forget to take a bird’s eye look at your business as a whole when you are solely focused on scrambling to get your jobs done. Setting aside some time to plan out your day gives you the chance to analyse what needs to be done in your business to ensure future success.
You can become stressed about work.
Poor time management skills and the confusion can lead to stress. And the worst thing is that all of the additional pressure that you feel will have an effect on your work too. Avoid this vicious cycle and spend more time looking at how you spend time.
Time management tips from Maple
Now that we’ve seen what can happen if time management isn’t done correctly let’s look at how we can avoid this in the future.
Planning and preparation prevent poor performance. Make a note of all of the tasks that you need to work on throughout the upcoming day/week. Then you can see which tasks need attending to first and what impact the completion of these tasks will have regarding your journey towards your objectives.
There’s no point in making a to-do list if you don’t know what to do first. That’s just organised chaos. Instead, prioritise which tasks need your immediate attention and which tasks can be left until a later date.
Delegate as much as possible
Often, you will find that some tasks are of equal importance and they both need doing as soon as possible. Being as you can’t be in two places at once, it’s best to delegate these tasks to your trusted members of staff. This way, you can check multiple things off your to-do list and build up staff relations at the same time.
Get in touch with Maple Accountants
For more information about what we can offer you, contact us on firstname.lastname@example.org or call 01332 207 336 for our Derby office.