The Importance of Time in Small Business

Posted on June 20, 2014

We’ve all heard the cliché “time is money,” but in reality, time really is money, especially for small business owners. As an owner, you wear several hats all while juggling the financial risks of ownership and managing fragmentation within your company, costing you in more ways than one.

But, do you really realize how important time is for your bottom line? If not, it’s time to see the real effects of time in your small business.

Understanding Where Your Time is Currently Wasted

Delegating tasks to employees or outside companies should be one of your first priorities as a small business owner. In fact, with almost half of all small business owners fulfilling between 4 and 6 roles each day, it shouldn’t come as a surprise that time is being wasted.

Of course, many business owners also believe that technology is the answer to these issues. And, while technology can offer some promising time-management skills, there is still time being wasted due to waiting for information, communicating with partners or clients at unscheduled times, and trying to overcome barriers and inefficient communication and coordination.

At the end of the day, this can make managing your small business even more difficult, especially because there is rarely time to accomplish everything necessary to not only sustain business, but to grow over time.

Small Business Solutions for Time Management Issues

The future of your small business relies on your ability to make the most of every second you spend at work, meaning that trying to perform 6 roles at once all while completing the accounting work on the side just isn’t going to cut it. So, what then?

There are several simple time management suggestions that you can rely on to make your small business more efficient, promoting growth over time.

  • Prioritize – Planning to plan is a waste of time but prioritizing is essential. Each day, select a limited number of tasks that must be accomplished and focus on reaching these goals. No matter what else happens, you must remain committed to these primary tasks to stay efficient.
  • Utilize Online Platforms – Online platforms are essential, regardless of whether you choose to use them for payroll or even to plan your business trips. Automation is key, and whenever possible, take advantage of this convenient solution.
  • Sync Collaboration – Streamlining communication within your business is essential to make sure that all employees are on target and completing unique tasks. By syncing up these processes, you can avoid wasted time and have everything delivered on time and finished up according to the goals that you set.

Taking Your Time Management a Step Further

Using technology with discretion is essential, as too many automated processes can make running your business even more confusing at times. However, one area where automation cannot be sacrificed is with your customer service.

Spending time answering the phones is not only wasteful, but it distracts attention away from prominent goals. Luckily, you can turn to companies like Flat Answering Service to answer your calls for you 24/7. This enhances your customer service, giving you an edge on your competitors and instilling trust in your customers.

Time is money. Save yourself both by streamlining your business with the suggestions above and taking advantage of the exceptional service that First Answering Service has to offer.

Comments are closed.