Many young entrepreneurs believe that there is never enough time in a day. However, this is not the case, as most of the time management problems that young entrepreneurs encounter are related to how they utilize their time.

As an entrepreneur, it is important that you have a good understanding of the various elements of time management to ensure that you are able to effectively manage your time. There are varying time management methods that can work for everyone. Here are a few tips to help you manage your time better when running a business.


Set Deadlines

One of the biggest challenges for young entrepreneurs is that they don’t have an external pressure to complete their tasks. This can lead to unproductive multitasking and procrastination. Having a set deadline can help keep everyone focused on their tasks. For instance, you may need to have a phone call with a business partner so you choose to set a 30-minute limit to the conversation. Once that limit is reached, you simply end the conversation so you can move on to your next task. Having a deadline can help keep everyone on track and get more done in less time.


Write Down Your Tasks

Every morning, start by writing down the various tasks that need to be completed on a piece of paper. This will help keep you focused on the important tasks that are important to you, while at the same time, reminding you of the ones that should be completed immediately. This is not a replacement for your current method of managing your tasks, but it can help remind you of the importance of these important tasks.

Don’t waste your time filling your day with non-essential work, as it can take away from the time that you have left. According to Parkinson’s Law, work should expand so that it can be completed in the required time.


Use The 80/20 Rule

The concept of the 80/20 rule can become a game-changer as it helps entrepreneurs avoid spending their time on non-essential tasks. If you have 10 tasks that you need to complete, only two of them will actually produce any results, and spending your time on these other eight can be a waste of your time.

To implement the rule, it is important that you spend some time analyzing the various tasks that you have been working on. This will allow you to determine which ones are performing well and which ones are just turning into busy work.


Do The Right Tasks At The Right Time

One of the best ways to be better about your time management as an entrepreneur is to think about when to do certain tasks. For example, maybe you start your day by checking and replying to emails and then go through the morning performing more arduous tasks while your energy levels are high. You can then leave the easier tasks for later in the day when you’re likely thinking about the end of the day.