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How to Make Better Use of Your Time
Time is like virtually no other business resource: it's irreplaceable. Successful business people understand this concept and treat time as a precious commodity. Knowing how to use time wisely increases your productivity and allows you to do more with less. As your organization continues to grow, this lesson may enable you to create higher profit through greater efficiency.
Note that different types of time can be used to solve different types of problems.
Uninterrupted time: If you have a complex problem to solve, it's best to take a large uninterrupted block of time to work on it. Sometimes you have to create that block by removing yourself from day-to-day interruptions. Leave the office. Forward your phone calls to voice mail. Then dig into the problem.
Reflective time: This is the time for evaluation. "Am I going in the right direction? Am I using my abilities and resources effectively? How can we improve what we are doing?" Without reflective time, you run the risk of blindly going off in the wrong direction.
Relaxation time: Most people need a change of pace, a time to relax and recharge their batteries. Failure to provide this time can lead to loss of energy and a high level of stress.
Downtime: We spend a large part of our time waiting for things to happen. Think of the time spent traveling to meetings, waiting for appointments, etc. Use this time to do routine tasks such as planning your calendar, revising a report, catching up on required reading, drafting a short memo and so on.
Keeping those differences in mind, here are four ways you might better manage your time:
- Whenever possible, delegate responsibility, not just tasks.
- Follow up on results, not details.
- Collaborate with first-rate people.
- Use technology to decrease time spent on routine tasks. For instance:
* Telephone-it takes less time than writing a letter.
* Fax-if you need a written letter, write a short memo and fax it.
* Word Processing-save standard letters on the computer.
* Computers-use databases, spreadsheets and specialized applications to minimize repetitive tasks.
Possible alternative: Consider outsourcing certain tasks as part of a time management program. Your business advisers can make recommendations based on the needs of your operation.