For small business owners, time is an irretrievable asset. Whereas money and other resources can be lost and reacquired with little difficulty, time cannot. Hence the known fact of small business owners categorizing their time into two: real-time and clock time.

Clock time doesn’t affect them as much as real-time, and how they plan it out. Yet, real-time is hard to come by, and impossible to retrieve once it’s lost. That said, how does one utilize their time more effectively? How can you, as a small business owner, master time and enjoy maximum results?

Below are a few tips to help you maximize your time, increase efficiency and productivity in the workplace.

Plan and Manage Your Time

The only way you can manage your time effectively is by planning and scheduling it out. Consider and prioritize the tasks that are important, and push back the less important tasks.

Do the tasks have a deadline? Will not completing the task early affect the business negatively? Tasks without a deadline can be pushed back for later.

Delegate Tasks

One of the top qualities of a leader is his/her ability to delegate tasks. Trying to do everything and micromanage your employees will only work to your disadvantage. Other than getting burnt out, you will miss the opportunity to empower your employees.

By delegating tasks, you get a chance to focus on key matters and responsibilities. The remaining responsibilities and duties can be allocated to your employees. You can always start by allocating menial tasks, before building up to more important tasks.

By doing this, you will empower and develop the skills of your employees. Moreover, you’ll be able to develop a relationship of trust with them, as well as save on time.

Utilize Setbacks As Growth Opportunities

Setbacks and mistakes are inevitable in all businesses. Accept the fact that they happen, but do not dwell on them. Instead, realize those setbacks and identify the areas that you made a mistake.

By doing this, you can avoid making the same mistake again. In essence, always learn from a mistake. Mistakes are an opportunity for growth, not a sign that you won’t succeed.

Use Technologies To Save Time

There are vital processes in your business that require time and effort to fulfill such as managing your finances and marketing. So instead of doing it manually, you can utilize technologies that save you time.

With your accounting process, you can use Quickbooks Online. You no longer need to manually prepare financial reports like Profit and Loss and Cash Flow. Aside from this, you can access your financial records anytime and anywhere because of the availability of the mobile app.

Create and Encourage A Positive Work Environment

If you and your employees have a common goal and vision, the more likely your business is to succeed. However, you can only do this by making your employees feel like part of the team. Ensure that your employees are aware of how valuable they are.

Be sure to praise their efforts, hard work and even reward their achievements. Get to know your employees as well, and engage them in activities that will help foster teamwork. Team-based activities will help your employees interact and learn more about each other.

Utilize Available Resources

Identify the tasks that you and your employees are great at, and what you are not. By highlighting tasks that are not easily achievable within your business, you can identify the resources that you need. Why not try outsourcing from other organizations and business resource centers?

This way, you’ll spend less time and money trying to achieve a task that you are not good at. Outsourcing a talent will help you achieve more in very little time.

In conclusion, planning your time is imperative for an effective work environment. Also, you need to include your employees as part of the entire process. Work together you’re your team to achieve different tasks for more productivity and efficiency.