subject: Effective time management tips for young entrepreneurs [print this page] Effective time management tips for young entrepreneurs
EFFECTIVE TIME MANAGEMENT TIPS FOR YOUNG ENTREPRENEURS
A young man once asked me what I thought was responsible for his success within a short time as an article writer. No specific answer came to mind and his response was simply "time management". Most young entrepreneurs today are in business today without a clear cut idea on how to manage their business properly within the short ambit of time. The successful entrepreneur and the unsuccessful one both have the same twenty hours. The difference between them is simply "time management".
Here are some useful tips on effective time management for young entrepreneurs.
1. Planning and Goal Settings
As a popular adage goes "one who fails to plan, definitely plans to fail". For a young man who has a lot to do, have to learn to plan his time effectively set his goals right and in their order of priorities. Goals in this case could be short term, medium and long term goals. In order of priorities means making a "to do" list and highlighting the tasks in their position of importance, relevance and urgency. Time should be equally allotted for the completion of each task. Prioritization of task enables you to know which task needs your urgent attention and shift between tasks.
2. Employ the "art of delegation"
Richard Branson once said that "Virgin's ability to grow and diversify successfully was set in the company's early days, with my learning how to delegate and let go. This is a major secret of successful entrepreneurs and incorporations. By delegating, you can concentrate on more important things and therefore, a lot is achieved within a short time. However, you should note that in delegating duty, competent hands are used in carrying out the said task.
3. Maximize your energy level and minimize stress
As the famous economist noted that 80% of the output recorded are from 20% input. Therefore, in accomplishing tasks at hand, you should ensure that you increase your energy and reduce stress as much as possible. Possible ways of achieving these involve employing the various stress management techniques such as working out, etc. By doing this, more is achieved within a short time.
4. Avoid procrastination and old habits
So many young entrepreneurs have ended up in the hole because they fail to do what they ought to at the right and this is due to procrastination with influences from time wasters. Therefore, keep as low as possible your friends and other time wasters and attend only productive functions.
