Many studies and surveys reveal what most people actually know but often forget: much of their time in a day is spent doing recurrent tasks, some of which are detrimental to a business in the long run.
According to HubSpot, marketers often spend an average of 16 hours weekly or around 40% of the working time doing routine to-dos. These include managing e-mail lists, creating landing pages, and monitoring their client’s social media pages.
E-mail marketing alone could already take almost four hours a week, while a person may spend at least 3.5 hours in marketing analytics.
Meanwhile, in a 2018 survey participated in human resources personnel, an employee could end up wasting almost two hours of their work time each day. This didn’t include yet the lunch break, which usually takes about an hour.
Much of these wasted hours may be due to work productivity barriers such as the lack of resources that may automate the process and an insufficient number of people. It may also occur when existing employees spend plenty of time chatting with their neighbors.
Browsing through social media while at work is another time waster. In one of the surveys, over half of the employees said they regularly checked their social media accounts. At least 20% spent an hour per day on that.
Simply put, when not used properly, time can result in bleeding money. It is particularly hurtful for small businesses that don’t have a huge cash flow or capital.
Fortunately, entrepreneurs can get smart with time management, beginning with these three tips:
1. Delegate or Outsource Routine Tasks
Many of the most successful entrepreneurs in the world are not slave to work. In fact, they are home by 9:00 p.m. or earlier. They can take holidays and weekends. These are individuals who can find time for everything, including a workout and breakfast.
One of their secrets is delegating or outsourcing routine tasks, such as payroll management services. Granted, this costs money that many small business owners prefer to do the jobs themselves.
However, by freeing as much as 16 hours a week, CEOs and owners can focus on their enterprises’ critical aspects. These can include innovation, growth, and goal setting.
Besides, small business owners can choose to hire outsourcing firms on a retainer’s free or part-time basis. Sometimes the job is seasonal, like taxation. They still have much control over their expenses.
2. Create More Specific Policies on Internet and Social Media Use
Some companies severely limit the employee’s access to the Internet and social media, but this may only be counterproductive. They may struggle to get the resources they need for their work, such as research or marketing.
Prohibiting Internet use or limiting accessible websites is often not the answer. Instead, it’s creating a specific, updated policy on web and social media use:
- Emphasize the dangers of accessing unauthorized or suspicious websites. Often, it can attract cybercriminals to infiltrate the network.
- Make employees accountable for their work and actions in the workplace. These include giving penalties for those found checking social media during office hours.
- Strengthen BYOD policies with the help of the IT team.
- Define the job description of the employees properly.
3. Consider One’s Chronotype
One of the novel ideas recently is chronotype, developed by Michael Breus, Ph.D. It refers to a person’s circadian rhythm, which may be vastly different from the others.
Circadian rhythm is all about the body clock that regulates many body processes such as metabolism and hormones to help a person function throughout the day. It is highly sensitive to light.
For example, in the morning, the body’s cortisol level begins to rise. Cortisol is a hormone that stimulates a faster heart rate and blood pressure, both of which promote alertness and focus.
In the evening, the cortisol level is supposed to decline. Instead, the eyes respond to less amount of light by releasing another hormone called melatonin. This helps calm the nervous system, so the person can feel more relaxed and sleep.
However, chronotyping assumes that not all people’s bodies follow the same pattern. For this reason, some may be more alert and productive in the evening or early morning hours.
There are at least four chronotypes, named after animals, and a person may have one or a combination of them. Entrepreneurs can find out theirs by taking the quiz.
“Time is gold” is one of those clichés that still hold today, especially for those in business. Every minute can mean an opportunity loss or a profit depending on how the owners and the team use it.