Some business people have their minds so fixed on winning and satisfying today’s
customers that they forget the basics. They spend all their time working IN their business and none working ON their business.
Success in business depends on:
- A clear understanding of your market;
- The ability to delight your customers;
- The energy and enthusiasm to get everything done.
Many businesses still fail however – even though they have these positive attributes
in abundance. Their mistake? They run out of time.
- They lack the time to get the small, routine, stuff done (collecting cash or following up on enquiries for example).
- They fail to work on long term planning, improving their business capability and developing their employees.
- They spend all their time working on business emergencies.
Take control of the whole issue of managing your time.
- What are your priorities? - both in business and in your personal life
- What can you measure? - create those KPI,s
- What can you impact? – identify where your time is spent most effectively.
Long Term Planning
One of the keys to long term success in business is the creation and implementation
of a competent and complete Strategic Plan. This plan gives you the basis for
setting and agreeing priorities. Time is allocated to the major improvement projects
- the projects that, over an extended period, will ensure that you have more time
to spare for:
- Other improvement work;
- Creating new products and services;
- Building new routes to market;
- Making your business less reliant on you.
Identify Priorities and Responsibilities
Make sure that you, and your team all know what is important and that time is allocated to these important issues. This means having the
discipline and character to distinguish between important and urgent issues. Business
leaders who spend all their time working IN their business are usually operating solely on urgent priorities. Those who
have made the transition to work ON their business have established a balance so that time is always allocated to
important items (especially those issues that are important, but not urgent).
Over time, this approach will lead to a reduction in the urgent issues that are
competing for your time.
Heart BeatDevelop a structure to your week, most people like order and a pattern. It is
essential that every business has a heart-beat. Whatever your business, establish
a routine and stick to it. Even if it’s only you in the business, pick a day
to check your debtors, and to progress the enquiries. No matter how small or large
your business, the issues are very similar.
Board Meetings
Well run, constructive board meetings that have a formal agenda and purpose make
a positive contribution to saving you time. Make sure that everybody comes prepared
and that key information is circulated well in advance of the meetings. Use these
meetings to review your Key Performance Indicators and your improvement projects.
Make sure that every process is represented and encourage open discussion.
Involve all your employees – work as a team.
Motivate your staff and yourself; give praise, communicate, and integrate. Make
time regularly to do these soft issues; don’t assume people know you think they
work hard, tell them!
Controlling and utilising time to your best advantage.
- Prepare a list of your daily priorities, ideally the night before; do the difficult things first; set aside personal time to review the business overall. On Fridays organise the week ahead. Use a tool like the tasks in Outlook and really follow through, don’t assume - ask and check.
- Plan to delegate; provide employees with the timing and performance goals expected, and the deadlines.
- Don’t be distracted from the overall goals; remember as a director/manager it’s your job to have the bigger perspective.
Be focused and set the pattern. Be organised, and other team members will see
it as a priority.
SPS is a nationwide partnership of experienced business people actively assisting
business owners and managers to build real value in their companies. We have a
wide range of practical experience you can call upon and are different from others
because we have all worked at board level. Many of us have owned and successfully
developed our own businesses. We do not write reports telling you how to run your
business. We work alongside you to develop and implement winning strategies.