Time management can seem relatively straightforward as a graduate. While there is no denying that managing your time between studies, social life, rest, and sometimes part-time jobs can be tricky, this is the beginning of learning to prioritise and build a system that works for you.
However, with the job market making it tricky for graduates to get hired, you may decide to run a business. Time management takes a lot more than making a to-do list, organising your calendar and working through your priorities. Your first year as a business owner will change that perspective. The time management strategy you built, in which you could mostly control your environment, doesn’t work anymore.
As there is always something to do in business, you have to be clear from the start that you can’t do everything. So your new time management method is not about finishing your to-do list, but about deciding what deserves your time and what can save you time.
Busy Work vs Revenue-Generating Work
Every task may feel important when the entire business is your responsibility. But does that mean that every task creates equal value?
You need to clearly identify the work that is valuable to you and your customers:
- It generates revenue
- It attracts future customers
- It requires your specific expertise
Then there is everything else around it. While this doesn’t mean non-revenue-generating tasks are pointless, it does mean they do not require your personal, undivided attention. Administrative tasks, for example, remain necessary. However, they could take several hours that would be better spent on paid client work.
This is where it’s important to understand how to take the pressure off your to-do list. You can outsource most administrative tasks as part of your time-management strategy.
Automate Repetitive Tasks
If you perform exactly the same sequence of actions every week, there may be tech tools already available that can handle some of this:
- Appointment confirmations
- Invoice reminders
- Scheduling emails
- Etc.
These actions can be automated using dedicated tools that eliminate small, repetitive tasks, leaving more time for income-generating work.
Bear in mind that automation works well for repetitive tasks that require no thinking or creativity. It’s an important distinction, as automation is best suited to repetitive, low-thinking tasks.
More and more businesses are trying to save time and effort by automating thinking tasks through generative AI. Unfortunately, this can have limitations. AI doesn’t guarantee consistent or accurate answers. Additionally, it is prone to producing false information, often referred to as AI hallucinations. In the long term, this strategy is unlikely to protect your time, as correcting AI issues is extremely time-consuming.
Stop Being Your Own IT Department
Being capable of completing a task yourself doesn’t necessarily mean that doing so is productive. For instance, you may be able to build and manage your website. However, ownership entails ongoing responsibilities, including backups and software updates.
That’s why professional website maintenance services are designed to remove routine technical work from your schedule. They reduce the time you waste on web management and troubleshooting errors. Ultimately, with growing cybersecurity risks, the last thing you need is to bear sole responsibility for protecting your digital presence. It’s best left to experts who understand how to keep your website safe.
In conclusion, your first year in business can teach you a lot about time management. It can be extremely difficult for new business founders to learn where their time delivers the most value and where to entrust tasks to technology and people.