Time management is something that many individuals struggle to achieve. However, businesses and individuals can benefit from effectively managing their time, increasing productivity, to decreasing stress. Many different time management techniques help you prioritize, organize, and ultimately govern your time. And mastering this skill can make all the difference to the success of your business.
Time Management Defined
Time management is planning and controlling time spent on specific tasks and activities for efficiency and productivity. We each have a limited amount of focus and energy. And as an entrepreneur, you’re more than likely moving from one task and meeting to the next every day. You’re also probably dealing with various distractions that can pull you from other, more critical responsibilities. Successful time management can help you make the most of your day.
Benefits of Time Management
Efficiently managing your time is an essential skill that can allow you to:
- Decrease your stress
- Prioritize, organize, and improve productivity
- Create more time and opportunities
- Better realize your goals
- Firmly position yourself to deliver products and services consistently
- Successfully enhance your capacity to solve problems without significantly impacting daily operations.
Now let’s look at four different time management techniques to help you better manage your daily activities.
4 Types of Time Management Techniques
1. Pareto Analysis, or the 80/20 Rule
Created by Italian economist Vilfredo Pareto, this technique uses the Pareto Principle, also known as the 80/20 rule. Its premise is that 80% of outcomes or benefits result from 20% of effort or work. And conversely, 80% of problems are a result of 20% of causes. An example of this is often found in sales, where 80% of your sales come from 20% of your customers.
One key benefit to using this technique is that it identifies the root causes of problems. However, it doesn’t provide solutions to those issues. The goal of Pareto Analysis is to identify and prioritize the problem areas or tasks that will yield the most significant payoff if addressed first.
2. Time Blocking Method
Time blocking is when you organize your day into chunks or blocks of time. This technique allows you to plan in advance, dedicating certain hours to complete selected tasks. An example of this is checking your email between 9:00 am, and 9:30 am each morning. And you are then moving onto the next activity after that time frame.
The benefits of time blocking include being able to accomplish the essential tasks more quickly. You can also build time into your calendar for yourself (downtime or self-care). But time blocking requires careful planning and effort. And sometimes, things don’t always go according to that plan.
3. Pomodoro Technique
Created by entrepreneur and author Francesco Cirillo, the Pomodoro Technique utilizes a timer to divide work into intervals, or Pomodoro’s. The method involves working for 25 minutes and then taking a 5-minute tracked break. The technique is excellent for overcoming procrastination and makes you focus on one thing at a time. However, distractions can be challenging to avoid, and not everyone likes to be interrupted with their tasks every 25 minutes.
4. GTD – Getting Things Done
Getting Things Done (GTD) helps you finish tasks and meet commitments in a stress-free and efficient manner using a system of lists and calendars.
GTD involves the following steps:
By breaking larger tasks into more manageable ones, you can be more productive and creative. However, following this technique can require a great deal of mental discipline.
Efficient time management is essential for organizations to prioritize, organize, plan, and achieve goals. But managing your time can take “time!” Here at Belfield, our team has over 170 years of cumulative experience. As a result, we can help you increase your productivity and better position yourself through effective time management. Experience the Belfield difference!