8 Task Management Skills for a Thriving Business
Running a small business is one of the most fulfilling jobs you can do, but it requires enormous amounts of dedication and hard work. The New York Enterprise Report found that small business owners work twice as hard as employees, often up to 60 hours a week. The number of roles you have to fulfil as a small business owner may seem overwhelming. The key to managing tasks is to be organized and work efficiently.
Plan your time
Use a time management system, be it a paper diary or an online planning tool. Know your goals, prioritize tasks, and give yourself free time each day to evaluate and assess.
Set goals
Goal setting should be prioritized. Goals should be SMART (Specific, Measurable, Achievable, Realistic, and Time-Bound). Only by knowing where you are heading can you ensure your business is running smoothly.
Write to-do lists
Prioritize tasks according to your goals and write to-do lists. Putting tasks down on paper helps organize your thoughts and gives you a set of clear objectives for the day.
Avoid distractions
When working on a project, turn off your phone and email, and concentrate solely on the task at hand. Take steps to ensure that when you deep dive into important work, you do so without disruptions.
Do not multitask
Researchers are now stating that multitasking can reduce productivity by as much as 40%. Stanford researcher, Clifford Nass, suggests limiting multitasking to no more than two items at a time. He also advocates the 20-minute rule, where you concentrate on only one task only for a minimum of 20 minutes.
Delegate wisely
As a small business owner, you may be guilty of trying to do everything on your own. Many small business owners feel that only they can do the job to the required standard. After all, you have the vision and the experience.
The Lonely Entrepreneur argues that doing everything yourself is a sign of bad leadership, resulting in a reduction in productivity. Delegating tasks to others so you can concentrate on what's most important is a wise business move. Consider delegating administrative, customer-facing, and logistics tasks. Many Virtual Assistants deal with these tasks remotely and can take a weight off your shoulders.
Outsource vital tasks
As a small business owner, you may be reluctant to invest in external businesses and suppliers, but there are some areas where outsourcing is a prudent choice:
● Legalities are one area of business where you cannot afford to make mistakes. For example, when creating an LLC for your company, instead of doing the legwork on your own, you could use a formation service. This legal service will free up hours of your time. Search online for LLC cost NY.
● Accounting is another area of business where figures need to be spot on. Consider hiring an accounting firm or bringing in a dedicated accountant.
● The global market for outsourced IT services reached $85.6 billion in 2020. IT is one of the most logical projects to pass on to an external company.
● In this day and age, a solid web presence is key to a successful business. While you can, theoretically, establish a website and social media presence yourself, you do need a strategy for success, as well as consistency — both of which can take precious time away from your core business functions and strengths. Sophisticated Cloud has the packages to help you create a brand and grow your leads and conversions and, by extension, your bottom line.
Take time to recharge
Taking time away from work to recharge may feel like abandoning your baby, but time for relaxation is imperative to avoid burnout. Giving yourself space to reflect on your goals and assess how your business is progressing allows your brain to see things in a different light. Allowing yourself clear blocks of time each week to work on strategy is crucial to the development of a successful business.
Organization is vital to the success of a small business. Taking time to set goals, plan strategies, outsource tasks, delegate with authority and look after yourself may feel like an additional burden when you are overworked. But pressing pause and looking at your business with a critical eye can make or break a start-up business.