Each day in the life of a business owner is structured to maximize all of the 24 hours of a day. Uttering the words “It has been a long day” is a common occurrence, more towards the amount done than the hours worked. A day comprises of an early start and a late finish, with a planned routine in the middle for a jam-packed day. When running a company not one day is the same and not always as glamorous as some may think. A business owner is required to wear many different hats, from human resources to sales and from marketing to spokesperson. Does this sound familiar?
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It is of the utmost importance for the business owner to use their time in the most efficient way possible. When starting out, one may wonder how on earth this is possible, indeed the most famous business owners we know seem to achieve superhuman feats when it comes to managing their time. Business owners, however are only human but they do use certain tricks to get the most out of the 24 hours in a day. We will look at a few of those tricks that the world’s most successful business owners employ to get the most out of their days.
The first is to establish a routine. Without a routine, a business owner won’t complete any work. No one can really provide a routine for you. Set up one yourself based on what’s going on in your personal life and your work habits. If you have a family and happen to be an early riser, then you probably want to start early in the morning before anyone in your household rises. If you’re more productive at night, then set up a routine based on being a night owl.
Establishing a routine can also help you prioritize your tasks.
If the day is started with the worst or most taxing task, when the motivation from the morning activities is fresh, then the rest will seem easy in comparison. It is said that intellectual work is better done in the morning and more creative work when tiredness starts setting in. Setting up themed days of the week has also been proven to be helpful, for example Monday could be for administrative tasks, Tuesday focused on developing and fine tuning your product, Wednesday for marketing and touching base with customers, Thursday for developing partnerships with other businesses and Friday could focus on company culture and other HR related activities.
For business owners, the day is not just about the company but also finding time to spend with family and friends, as well as on themselves. Most early starters spend the early hours on themselves or business before the rest of the house awakes so they can devote breakfast with their family. When you spend time with the most important people in your life, it not only clears your head, it also helps you remember what you’re fighting for! Most successful business owners also set aside time for reading. “Knowledge is power”!! So, as it expands the mind, this could be reading the daily papers and business pages, scrolling through social media or reading a novel.
Keep up to date with your cashflow. You probably should do this every day because without money, your business is as good as done. To do this effectively, create and run your business using a 30-day cash-flow projection. This will help you identify what money is coming in and what you’re spending daily. Furthermore, keep track of invoices for clients and start a collections process if need be. Whether you call your bank, check online or chat with a bookkeeper, it’s better to be safe than sorry with your finances.
Plan tomorrow, tonight. Did you grow up with a parent who made sure you were ready for school the night before? Whether that involved getting your clothes out or preparing your lunch, these rituals shaped you. So, prepare for the next day before heading to bed. An example of this is; the night before a big meeting, send out an email telling everyone what’s needed. When you arrange before going to bed at least a couple of tasks or goals for the next day, you’re more likely to wake up and start on the project at hand. This can also help you create priorities in your schedule for the following day instead of letting thoughts of unfinished work accumulate.
And one final word about sleep: Be sure to set a bed time. There’s obviously nothing better if you need to be fresh for the following day. Virtually every successful business owner goes to bed at the same time every night. Be sure that you don’t get distracted when trying to fall asleep: Leave the phone or computer in another room. You’ll be glad the next morning when you wake up refreshed and ready to take on the world.