Time management is a critical resource in every business venture, big or small. It also has an impact on more than simply your supporting company’s operations. As the classic saying goes ‘Time is money’ so why do so many of us not prioritise our time management skills?
To get the most out of your business, it’s critical that you correctly budget, manage, organize, and plan so that you don’t run into big problems later on. After all, there are only 24 hours in a day – use them wisely. Your time must be properly controlled and scheduled in order for your business to flourish. The team at MKS has implemented some of these tips to help.
Tip #1: Scrap Overtime
This can be tough, but as a general guideline, it is a wise idea to inventory all of your time and budget based on tasks. This entails looking at each of the things you complete each day and allocating a specific amount of time on each of them. Allocate and define your maximum time budget to restrict the amount of time spent on each job, so that everything falls on a fair level. As well as tasks not being considered until the last minute – remember being Pro-Active still trumps over being Re-Active.
Tip #2: Optimize your digital calendar
Arranging your days as well as setting recurring tasks or reminders is a fantastic way of getting on top of your time and managing it more effectively. Adding tasks to your digital calendar as soon as they come up ensure all tasks are accounted for and done during a set time. Doing something on the spur of the moment may lead to greater problems. You can lose track of time or go over budget in terms of time. A timetable allows you to keep on track throughout the day while also ensuring that things go quickly and that each of your chores are accomplished without wasting too much time.
Tip #3: If you have a team, use them
Many business owners or entrepreneurs are prone to taking on the entire responsibility by themselves. Handling everything from bookkeeping to inventory management to customer service. It is a lot of work, which is why you must assign parts of it to your team members.
While it may feel unusual to delegate these responsibilities, it may also free up a lot of time for you to accomplish other things. No matter how appealing multi-tasking may seem to you, don’t do it!
Tip #4: Milk the advantages of going digital – we call it Delegating
Now that we live in the digital age, previously manual procedures may now be automated with computer software and applications. This not only makes your life simpler, but it may also save you a lot of time at work.
Cloud-based accounting software such as Xero allows your accounting to be as nimble as you are. Because its cloud-based you can have all the numbers on any screen, wherever you are, helping your business become truly nimble. The team at MKS Group offers Xero training for you and your business. Like so many other businesses, you can utilise the advantages of going digital and cloud-based without the worry of storing and trying to find paper receipts. . Get in touch with our team on 9374 8400 to talk to us about how you could benefit from Xero or any questions regarding the migration from MYOB to Xero.
Tip #5: Let us handle your numbers
We truly believe that we are specialists in what we do. We go above and beyond to offer you accounting services, bookkeeping, Xero training and financial advice so all you need to do is focus on the thing that matters to you most, running your business. Your bottom line is our top priority, and our qualified chartered accountant professionals can help you achieve success the way you need it. Freeing up more time for you and your business, saving you money. Because as the expression from Benjamin Franklin states; “Time is money”
What we love to do is work with many business owners and meet with them as often as we can. We talk about cash flow, we talk about your family, we talk about your goals and how to get them. Make sure you are one of these that we talk to. We deal with a vast array of businesses and everyone is unique
Offering you tips and tools for time management is what we do. At the end of the day, one of our company values is that “We take on the impossible”
Many company owners now understand how to better manage their time, and this can be done by devising a strategy that ensures things are completed effectively while still allowing for personal time.
Thankfully with these ideas, you won’t be struggling with time anymore, stick with your allotted time, be consistent with your schedule, utilise your digital calendar, and above all, ask for help! These are all a part of the leap you’ve taken to put up your business.
