If you are an entrepreneur starting a business, it may seem as though there are not enough hours in the day to complete all of your tasks. To complicate matters even more, every second that ticks on a clock represents money. So, the question is, are you earning money in your business or wasting it?
Does that sound scary? Well it should. Per Microsoft, it was discovered that small business owners only used around 60% of their day actually completing tasks to improve their profit margin. This means that if they worked a standard five-day week, they were only working on their business three days out of five. Take that information and apply it to your small business. How would you feel if you only made money 60% of the time while working on your business?
In reality, it is quite simple to waste time when you own a small business. Unless you have a plan in place for how you will spend your work hours, the time will go by quickly. The good news is that there are several tips you can use for better time management.