In a globalized world the 40 hour work week suddenly feels like part-time. For many business owners the average work week looks more like 60+ hours, with every indication of a trend into longer hours on the horizon.
New email clogs the inbox, employees have questions, it's impossible to keep up with social media marketing, not to mention the day-to-day operations of the business. Oh, and tomorrow is payday, so payroll and bookkeeping need attention, as well.
It is all necessary, but where do you find the time?
Here are 5 ways business owners can bank time while boosting profits.
1. Delegate HR Responsibilities
Engaging a Professional Employer Organization, or PEO, will free up time for growing your business. Many PEOs provide all the back office staffing you need including payroll, employee benefits and commercial insurance. By hiring qualified experts to handle these crucial but time-consuming aspects of business, you can free up time to focus on the business of making money.
2. Social Media Marketing Advisor
Social media is almost as necessary as breathing these days. Many businesses find social media marketing a useful tool for growth, but sometimes it is just as confusing as it is useful. By hiring an outside agency to focus solely on social media marketing, the savvy business owner can increase traffic and sales while maximizing time management.
3. Time Blocking
An often overlooked yet simple and effective trick for saving time is time blocking. This is the concept of planning your day in advance, blocking out specific amounts of time for specific tasks, and committing to the set schedule. The first step is to spend one day recording your daily routine from the moment you wake up until you finally shut your eyes. Mark out each task with the amount of time spent. Be sure to note each time you deviate from a task or get distracted.
Use this schedule as a template to begin time blocking your daily routine. As you use this system you will be able to identify your most productive times of day as well as the least productive. Eliminating distractions and having more consistent focus will save you time and help build your empire on a firm foundation.
4. Portion Control
If you feel overwhelmed at the office, take a look at your plate and make sure you are exercising portion control. Many business owners find they have too much to focus on. When we overextend ourselves it is more difficult to focus on a single task and quality can suffer as a result. By delegating tasks to trusted employees and outside services, business owners can narrow their focus and save time in the process.
5. Remember to Breathe
It may seem like a no brainer. How could someone forget to breathe? However, many studies show that taking time out to relax is beneficial to brain function. Ten or fifteen minutes a day is all it takes to significantly improve business owners' ability to focus and stay calm under pressure. Sitting in a dark room, practicing yoga, meditation or breathing exercises are all good strategies to benefit from this time-saving technique.
If time is money and it takes money to make money, then it is reasonable to say that it takes time to make time. Setting aside a few minutes every day to breathe and relax is just good business sense.
As you can see, it is actually possible to save time without sacrificing profits. By utilizing any of these time-saving techniques you can grow your business and increase your productivity while protecting your profit margin.