Tag Archive: delegate

Time Management Tips for Small Business Owners

Time Management Tips for Small Business Owners

Few would argue that being a small business owner can be enormously demanding. Whether it’s dealing with vendors, managing staff, or serving customers, finding the right balance for these tasks can be a formidable challenge. While some try to handle the time management dilemma by working overtime every day, this kind of solution can often lead to burnout. How then can business owners successfully manage their time without sacrificing their health and personal lives?

Following are time management tips from several small business owners who have faced this challenge:

1. Don’t be afraid of shutting down technology to complete a project.

Because technology allows us to instantaneously access information via an unending assortment of mobile or wireless devices, it can be tempting to constantly check for e-mails or alerts—and then just as quickly respond to them. Try to avoid this trap. Unless you are waiting for a time-sensitive response from a client, your time is probably better spent attending to other aspects of your business.

Diana Ennen, president of Virtual Word Publishing, an online PR/marketing firm that handles book authors, wholeheartedly agrees.

“You absolutely need to focus and turn off all notifications when working on projects,” she urges. “That means turn off your cell phone, social media, Skype, or e-mail notifications. Log out of Outlook so that way you won’t see new e-mails coming in. If it helps, set a timer and work for several hours.”

To prove her point, Ennen, who works with four subcontractors regularly, says she often does this when writing press releases and articles for clients. As a result, she can complete the job easily. “It’s so much better because I’ve committed to it and am fully focused,” she says.

2. Carve out a block of time to complete jobs.

If you want to use your time productively, schedule in your calendar a block of time to work on a key job or project. This way you will be able to concentrate on what needs to be done without scattering your energies or letting your attention wander to a host of other things.

Time_Management_PQ.jpg

Dana Manciagli, a Bellevue, Washington-based career consultant with her own business, says this is an imperative.

“Schedule your important work as an appointment to yourself,” advises Manciagli, who previously worked at Microsoft as a worldwide sales manager. “If you need to write proposals that you are not getting to, open your calendar and make an appointment with yourself for it. If you need to remind yourself which ones to work on, put more details in the body of the invitation.”

3. Master the art of saying no.

Cultivating potential customers and associates at meetings or networking events is good for business. But if your attendance prevents you from planning your monthly budget or training new personnel, you might have to decline the invitation to focus on the task on hand. Be strategic when weighing the pros and cons of invitations as well as favors that others may ask of you.

“Learn how to say no,” insists Manciagli. “I made a lot of mistakes in my first year [as a small business professional] and this is one of them. Ask yourself: Which line item of my P&L will benefit immediately if I attend this event? Cost-Savings? And within revenue, be more specific with yourself. Will new clients be there? Will I get leads? If not, say ‘no, thank you.’”

4. Get up early.

It might be a platitude but the old saying, “Early to bed and early to rise makes a man, healthy, wealthy and wise,” might have some validity for business owners seeking to better manage their time. Drew Stevens, owner of Stevens Consulting Group, which helps small struggling healthcare professionals improve their revenue, endorses this takeaway as a great way to get things done.

With the extra time, Stevens says small business owners can review a perplexing client issue or look over notes or PowerPoint slides for an upcoming board meeting. “I remember getting up at 5 a.m. to get my master’s work done before I commuted to work,” he says. “And if you do commute, do some work on the train rather than read a book or sleep.”

5. Create a to-do list.

Sometimes scheduling time to complete a project is not enough. You might need to actually write out a to-do list on a regular basis. Then once you’re finished with each task, just cross it off until you get to the next job. It might sound like an obvious time management solution for small business owners, but not too many do it, says Essen. However, if you don’t adhere to this simple best practice, you might be subjecting yourself to a lot of all-nighters.

“To feel more in control, make this a habit—even on your busiest days,” she advises. “It takes away the feeling of being overwhelmed and the fear of forgetting something. For me, it has been instrumental as well in completing larger projects, such as redoing my website. It’s amazing how freeing it is to take large projects a chunk at a time. And if they don t get done, put it on the list for tomorrow.”

6. Learn to delegate.

As a small business owner, it is not incumbent upon you to do everything yourself. Lighten your load by learning to assign some duties to your staff or others who can help you.

Says Stevens: “There is no reason to be involved in everything. For example, I operate a very busy coaching business and recognize I cannot do it all. To that end, I hire freelancers for my graphics, my invoicing, my collections and even printing. This allows me to focus on my most vital aspect—clients.”

Small Business Owners Management Tips

Small Business Owners Management Tips

Small Business Owners Management Tips

Small Business Owners Management Tips

By Iris Dorbian.

Few would argue that being a small business owner can be enormously demanding. Whether it’s dealing with vendors, managing staff, or serving customers, finding the right balance for these tasks can be a formidable challenge. While some try to handle the time management dilemma by working overtime every day, this kind of solution can often lead to burnout. How then can business owners successfully manage their time without sacrificing their health and personal lives?

Following are time management tips from several small business owners who have faced this challenge:

1. Don’t be afraid of shutting down technology to complete a project.

Because technology allows us to instantaneously access information via an unending assortment of mobile or wireless devices, it can be tempting to constantly check for e-mails or alerts—and then just as quickly respond to them. Try to avoid this trap. Unless you are waiting for a time-sensitive response from a client, your time is probably better spent attending to other aspects of your business.

Diana Ennen, president of Virtual Word Publishing, an online PR/marketing firm that handles book authors, wholeheartedly agrees.

“You absolutely need to focus and turn off all notifications when working on projects,” she urges. “That means turn off your cell phone, social media, Skype, or e-mail notifications. Log out of Outlook so that way you won’t see new e-mails coming in. If it helps, set a timer and work for several hours.”

To prove her point, Ennen, who works with four subcontractors regularly, says she often does this when writing press releases and articles for clients. As a result, she can complete the job easily. “It’s so much better because I’ve committed to it and am fully focused,” she says.

2. Carve out a block of time to complete jobs.

If you want to use your time productively, schedule in your calendar a block of time to work on a key job or project. This way you will be able to concentrate on what needs to be done without scattering your energies or letting your attention wander to a host of other things.

Dana Manciagli, a Bellevue, Washington-based career consultant with her own business, says this is an imperative.

“Schedule your important work as an appointment to yourself,” advises Manciagli, who previously worked at Microsoft as a worldwide sales manager. “If you need to write proposals that you are not getting to, open your calendar and make an appointment with yourself for it. If you need to remind yourself which ones to work on, put more details in the body of the invitation.”

3. Master the art of saying no.

Cultivating potential customers and associates at meetings or networking events is good for business. But if your attendance prevents you from planning your monthly budget or training new personnel, you might have to decline the invitation to focus on the task on hand. Be strategic when weighing the pros and cons of invitations as well as favors that others may ask of you.

“Learn how to say no,” insists Manciagli. “I made a lot of mistakes in my first year [as a small business professional] and this is one of them. Ask yourself: Which line item of my P&L will benefit immediately if I attend this event? Cost-Savings? And within revenue, be more specific with yourself. Will new clients be there? Will I get leads? If not, say ‘no, thank you.’”

4. Get up early.

It might be a platitude but the old saying, “Early to bed and early to rise makes a man, healthy, wealthy and wise,” might have some validity for business owners seeking to better manage their time. Drew Stevens, owner of Stevens Consulting Group, which helps small struggling healthcare professionals improve their revenue, endorses this takeaway as a great way to get things done.

With the extra time, Stevens says small business owners can review a perplexing client issue or look over notes or PowerPoint slides for an upcoming board meeting. “I remember getting up at 5 a.m. to get my master’s work done before I commuted to work,” he says. “And if you do commute, do some work on the train rather than read a book or sleep.”

5. Create a to-do list.

Sometimes scheduling time to complete a project is not enough. You might need to actually write out a to-do list on a regular basis. Then once you’re finished with each task, just cross it off until you get to the next job. It might sound like an obvious time management solution for small business owners, but not too many do it, says Essen. However, if you don’t adhere to this simple best practice, you might be subjecting yourself to a lot of all-nighters.

“To feel more in control, make this a habit—even on your busiest days,” she advises. “It takes away the feeling of being overwhelmed and the fear of forgetting something. For me, it has been instrumental as well in completing larger projects, such as redoing my website. It’s amazing how freeing it is to take large projects a chunk at a time. And if they don t get done, put it on the list for tomorrow.”

6. Learn to delegate.

As a small business owner, it is not incumbent upon you to do everything yourself. Lighten your load by learning to assign some duties to your staff or others who can help you.

Says Stevens: “There is no reason to be involved in everything. For example, I operate a very busy coaching business and recognize I cannot do it all. To that end, I hire freelancers for my graphics, my invoicing, my collections and even printing. This allows me to focus on my most vital aspect—clients.”

Christopher Gardner Q & A: Lessons for Pursuing ‘Happyness’ in Business

Christopher Gardner Q & A: Lessons for Pursuing ‘Happyness’ in Business
by Susan Caminiti.

Christopher Gardner first made headlines with his best-selling memoir, The Pursuit of Happyness, the story of his homelessness, which was made into the movie of the same name starring Will Smith. Today, he is the CEO of Gardner Rich & Co., a Chicago-based brokerage firm and the author of Start Where You Are—Life Lessons in Getting from Where You Are to Where You Want to Be. Recently, business writer Susan Caminiti spoke with Gardner about the challenges of running your own business, the importance of failure, and how entrepreneurs need to sometimes get out of their own way.

SC: What aspect of starting and running a small business is most often overlooked or underappreciated?

CG: When you do something that you truly are passionate about, nothing gets overlooked. And that’s the key. It’s when you decide to do something strictly so you can make money that the problems start setting in. The glass all of sudden always looks half empty. When you start a business, it’s not easy. There are a million things that grab your attention and need to be addressed. That’s why it’s so important to do something that you’re passionate about. It has to be that feeling of, the sun can’t come up soon enough in the morning so I can go out and do my thing. That’s the part some folks overlook.

PQ_QAchrisgardner.jpgSC: Is that why it’s so hard for entrepreneurs to delegate, because they’re so passionate about what they do?

CG: No, it’s because we’re control freaks! But seriously, for any business to truly grow and be successful, the owner has to get to the point that I had to reach in my business: there are people who are better than you at certain things. The hard part is finding them and then leaving them alone. I’ll give you a perfect example. I have a bad record in hiring people. But I have a person who’s worked for me for the past 18 years who’s much better at it than I am. She has every license I have and then some. It finally dawned on me that I should let her do the hiring. And you know what? It works. Figure out what you’re good at and what you’re not good at—and then find the people that fill in those gaps. You can’t do everything. That’s just ego talking.

SC: In your book, Start Where You Are, you say there is no plan B for passion. How does someone starting or running a business balance this quest for passion with the practical needs of every day life?

CG: Passion is important but you have to have a plan and be very clear on what it is you want to start or how you want to grow a business you already have. I call it the “C-5 complex” and it revolves around these five words: clear, concise, compelling, committed, consistent. It’s great to have a dream of what you want but without a plan, that’s all it’s every going to be—a dream.

SC: Can you give me an example of how that played out in your life and company?

CG: In early 2008 my company had a $50-million commitment from an investor and I thought all was great. Then in September the financial crisis happened and that $50 million walked away. We had to re-evaluate everything. But that’s the beauty of having a plan, of being clear and committed. We didn’t try to take the company in a completely different direction. We stayed focused and kept moving ahead. And you know what? If I had gotten that $50 million and invested it before the crisis, we’d be so far under water right now it’d be hard to breathe. Sometimes the universe has a way of saying to you—step aside, the timing isn’t right on this.

SC: Failure is difficult in a corporate environment; for entrepreneurs it seems to be magnified and even more personal. How can business owners handle failure better?

CG: If you’re not failing occasionally, you’re not really trying anything. In fact, when you hire someone, the most important question to ask is: Tell me about a time you’ve failed at something. If they can’t give you an answer—or won’t—then you’ve got someone who’s not really going to get in there and be creative and energetic. They’re going to protect themselves. I always tell people, I’d rather be knocked out than tap out. I spent a part of my life homeless. It would have been so easy to give up. I didn’t. Success in life is about how many times you get up, not how many times you fall down.

SC: What’s the best piece of management advice you ever got?

CG: I was with [former Citigroup CEO] Sandy Weill years ago and we were talking about finding and keeping talented people. He said to me, ‘Chris, don’t ever be afraid to hire people smarter than you.’ Then he added, ‘But remember, even though they’re smarter it doesn’t mean you have to pay them more than you.’ I just laughed and thought, they sure don’t teach you that at Harvard!