12 Time Management Tips for Entrepreneurs in 2023

Time management is how you organize and divide up your time between different activities. Good time management strategies increase your productivity and efficiency. 

Effective time management is important for anyone, but it’s absolutely crucial for entrepreneurs.

Because entrepreneurs are ultimately responsible for every aspect of their business, allocating the right amount of time to the right tasks is critical to keeping your business running smoothly.

Better time management isn’t just about working harder, it’s about working smarter. We asked productivity experts to share their best time management tips. Use this list of techniques to experiment and find the strategies that make the most sense for you.

Effective time management tips

Table of contents:

1.Do a time audit

2.Create a daily schedule

3.Prioritize and delegate

4.Group related tasks together

5.Try not to multitask

6.Set time limits for tasks

7.Take breaks regularly

8.Eliminate distractions

9.Pace yourself

10.Do the most important tasks in the morning

11.Do the simplest tasks first

12.Start your day earlier than everyone else

1. Do a time audit

To better spend your time, start by understanding where your time is spent. There are great time management apps out there to track time, but in all honesty, I prefer to keep it lightweight—Marc Andreessen’s notecard system has always worked for me.

On a simple three-by-five notecard, keep track of your main to-dos for the day. On the back of the card, you’re supposed to write things you got done that you didn’t initially plan to get done the night before—the workday always likes to sneak in plenty of extras.

By looking at your three-by-five card at the end of the day, you’ll see what you prioritized (and if you got it done) and what work was added to your plate. Extra work is fine, but if you’re not clearing off your main tasks day after day, something is wrong. 

—Adam Rogers, Content Manager at Shopify

2. Create a daily schedule

For me, if it doesn’t get scheduled it doesn’t get done! So scheduling every hour of my work day is critical to staying focused and productive. Even “free time” to pursue side interests is put on the calendar.

If it doesn’t get scheduled, it doesn’t get done! I accomplish goals by breaking them down into very small projects that I can achieve on a daily basis. 

Each step should take no longer than one hour per day to accomplish. If I find it’s going to take longer than an hour to do that step, I haven’t broken it down enough.

Even if I finish that day’s steps early, I keep myself from doing the next step. I know that sounds counterintuitive, but doing so keeps me from getting burned out, and I’m more motivated for the next day’s hour of work. This strategy also keeps me from getting a step “half done,” which doesn’t feel as good as getting everything done that was planned for that day.

Managing my time means planning it in advance. The last 30 minutes of my day is always set aside to schedule the following work day.

—Tim Bourquin, Entrepreneur

3. Prioritize and delegate

Know your personal and professional priorities and plan your priorities in your calendar. Everything else needs to fit around them or be dropped.

prioritizing schedule

Get a great assistant you can delegate scheduling and other routine activities to. This person can be one of your biggest productivity boosters and stress reducers. 

—Elizabeth Grace Saunders, Time Management Coach

4. Group related tasks together

Rather than starting at the top of your list and working your way down, take a few minutes and review the entire list. Then batch similar tasks together. You may have categories like phone calls, finances, networking, paperwork, or creative activities.

By grouping (or batching) activities together that are similar in nature, your brain does not have to jump from one type of thinking to another. The transitions become smoother. You gain momentum as you perform related tasks, and in some instances actually speed up! 

—Stephanie L.H. Calahan, founder of Calahan Solutions Inc.

5. Try not to multitask

These days, it seems like all of us have less time than we’d like to accomplish the things we want to do. The internet and social media have sped up how you get your news, how you stay in contact with people, and how you communicate with your customers. It has also caused all of us to create some bad habits—one of which is multitasking.

According to research done by the American Psychological Association, multitasking doesn’t save you time. In fact, it clogs up your workflow, increases your stress levels, and ends up hindering your overall functionality. 

Stanford’s study reports that multitasking even affects your long-term and short-term memory. Chronic everyday multitasking actually affects your ability to hold and use information in your mind and your ability to retrieve information. 

Neuroscientist Daniel Levitin says, “All that switching across tasks comes with a neurobiological cost. It depletes resources, so after an hour or two of attempting to multitask, if we find that we’re tired and can’t focus, it’s because those very neuro chemicals we needed to focus are now gone.”

6. Set time limits for tasks

Now take that project or that work product and break it down into smaller sub tasks and set up some time tracking, or time-block how long it will take to do each of those tasks—even if they’re five minutes apiece. 

So actually scope out what you want to accomplish very, very clearly so that you know when you’re actually done—when you’re successful—and you can check that off the list and get that hit of dopamine that will keep you energized, motivated, and happy to continue doing work. 

Otherwise we have a tendency to wake up and jump into work without intentionality, and then we work for hours and hours and hours without really feeling like we’ve accomplished what we set out to accomplish. 

—Dr. Sahar Yousef, cognitive neuroscientist

7. Take breaks regularly

Taking breaks makes you more productive. In fact, William S. Helton, a professor of human factors and applied cognition at George Mason University, showed that short breaks can improve attention. 

He and some colleagues conducted an experiment that tested two groups of university students who had to monitor a series of railway lines on a screen. One group wasn’t given a break for the entire forty-five minutes, while the other group was given a five minute break halfway through the task. 

The second group was given a variety of activities they were allowed to perform during that five minutes. Regardless of the activity, the second group showed a measurable improvement in their performance. 

The research also shows that the type of breaks you take are important. Psychology Today reports that it’s important to get away from the notifications, the text messages, and your devices in general. Go take a walk in nature, doodle, or work out—something that won’t strain your brain or your eyes. 

If you want to continue to work at optimum levels, keep this time management tool in your toolbox and make sure to make it a priority. 

8. Eliminate distractions

How you manage your time is only relevant to the extent that you also control your attention on the task at hand. This is because if you allocate time to a task, but spend that time switching among several different tasks, the end result will likely be different than what you intended. Controlling your attention means effectively managing internal and external distractions, and single-tasking for higher quality work done faster.

—Maura Thomas, Productivity Trainer

9. Pace yourself

As an entrepreneur, you’re in over-performance mode a lot of time because you’re all in. Pace yourself. There will be time. You’ll need the time, energy, and attention though; and when you go full throttle right out of the gate, you’ll exhaust yourself.

Do you know what good enough is for each of the projects on your list? This is good enough for the organization and good enough for you. Overthinking, over editing and over tweaking wastes valuable time and is not necessary. Do good work, and then stop.

—Carson Tate, Author of Work Simply

10. Do the most important tasks in the morning

Take your time to do “right things.” Working in constant pressure is not OK. Feeling anxious and overwhelmed is not OK. Do you regret making a decision? Stop.

You shouldn’t judge your success based on outcomes by themselves. The most positive results can be from things that you don’t have to do. Do the most important things in the morning—studies show that after using your willpower later in a day people start making bad decisions.

—Kamil Rudnicki, CEO of TimeCamp

11. Do the simplest tasks first

My high school math teacher once told me that if you’re stuck on a problem, start writing down numbers and you’ll be amazed how often you figure out the solution as you write. I’ve found this true in all of life, not just math.

Whenever I get stuck on something, don’t know how to start a project, get anxious or start procrastinating, I force myself to do the simplest and smallest part of the task. I lower my expectations from completing the whole project to doing the simplest, most achievable component—I’ll write the first sentence, put in the first line of code, create the first line in the spreadsheet. 

And what invariably happens is that you finish that first thing and it spills into the next, and then the next, and like a snowball, hours later you’re charging miles downhill and you don’t even remember why it was hard to start out in the first place.

—Mark Manson, three-time #1 New York Times bestselling author

12. Start your day earlier than everyone else

Start your day earlier than everyone else. If you read the biographies and autobiographies of successful men and women, almost all of them have one thing in common and that is the habit of going to bed at a reasonable hour and rising early.

By waking before the rest of the world, you have time to plan your day in advance and get a head start on some tasks that may be looming over your head before others are awake to interrupt you.

—Brian Tracy, motivational speaker and author

Wrapping Up:

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This article originates from: https://www.shopify.com/blog/120436229-time-management-tips