The link between time management and your profit levels

A recent blog reviewed 10 simple ways for small businesses (SMEs) to save money. All are very relevant but none referred to saving time.

Why should they? Well, we all know that time is money. But there is more to it than that.

My point is that most owners and employees in SMEs do not have enough time to complete all their tasks. A typical case is a new client that I am about to visit this week – a service supplier, he knows that he is busy, but the effort does not result in more sales. Help, he cries to his mentor!

Siu Ling’s latest edition of “Ruminations” deals with this very issue. She looks at the imperative need of good managers to create ” habits that support high productivity”. Specifically, Siu suggests : – 

• decluttering the mind
• a firm morning ritual
• “block times”

I will add one other “must” factor. Before – and I repeat, before – I commence my week, I have my schedule already listed out. To be specific, for each day, I know when I will be in meetings, when I have time for phone calls, time for blog writing, time for thinking, time for whatever.

1. The first advantage of this is that I do not waste valuable hours planning away at the beginning of the week, often a very productive time for most people.
2. I can never double book times for projects. Everything has been allocated a slot.
3. In parallel, everything (known) will be dealt with.

Sure, emergencies come up. Commerce is dynamic, not static. You have to be flexible.

However, since operating this system, I achieve much more. And when I see similar positive results in the bottom line of my customers’ revenue streams, it makes you want to think how we all survived up to now.

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Tags: mentoring, profit, time-management

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