Managing Time, Business & Life | Business Management

Time management is an important skill to have. Everyone could stand to improve their time management. The service industry depends on strong time management in order to stay profitable, as many of the business models are based on hours. Being able to control your time to complete certain tasks can result in less stress and a feeling of accomplishment. So how can you better manage your time?

Time Management from an Employee Perspective

As a salaried employee working as a service professional, it is absolutely critical to be able to manage your time. It is common that salaried professionals do not get paid overtime and because of this, if time is not managed correctly, it could mean a loss for that employee that day. Let?s look at an example.

A salaried service professional has been given a task starting Monday morning at 8 am and is to be completed by Friday at close of business, 5 pm.

A typical work week would be 40 hours meaning 8 hours a day. If the project has a budget of 40 hours and no overtime is given, then the salaried professional will take a loss on any extra hours worked. The employee will take a loss simply because they are being paid strictly for 8 hours of their time each day. Each additional hour worked above 40 is a loss to that employee because both they and the company are not profitable.

Using this example, it can be a motivator to manage your time better. If you can focus on being profitable each day, little by little you will start to make progress. Understanding why it is important to stay profitable as an employee will help in all aspects of life. When in life would you not want to be profitable??

Time Management from an Entrepreneur?s Perspective

Entrepreneur?s constantly have to manage their time as it is critical they work as smart and efficient as possible during a start-up.

In this case, a budget may not be based on direct hours worked, however, tasks should still be completed in a timely manner. In other words, a task that would take five to ten hours to complete shouldn?t take two weeks. Being able to manage their own time well will allow the entrepreneur to outsource to others and manage those tasks as well.

As the business grows, the entrepreneur needs to make sure that they as well as their employees are staying profitable and are managing their time to beat the deadlines. This is a good rule of thumb for any business but can help to jump start a company in the early days as well.?

Time Management for All

In either case, it is a crucial skill to have, entrepreneur or employee. In any situation, the end goal can be broken down into tasks, and as those tasks are completed, the overall goal is closer to being met. The important thing to understand is how best you work and to use those strengths to your benefit. As you do, you will see how best to manage your time.?

Source: http://catf2.org/managing-time-business-life.html

swansea pixar airsoft guns pdl medina cars 2 reading