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Starting your own business is so exciting, but let’s be honest—time can feel like it is your biggest enemy.
Those new to entrepreneurialism are known for falling into common time management traps that leave them using up tons of energy without really moving forward all that much.
While you can take comfort in the fact that you’re not alone, you certainly shouldn’t get comfortable in this less-than-effective space. Instead, take a look at the following time management mistakes that gobble up your hours, and make sure you’re not falling prey to them. If you are, we’ve got tips on how you can rectify or avoid them.
You Can Work From Anywhere—Until You Can’t
When you’re the boss of your own business, you can work from the car, a café, the couch—anywhere. How amazing, right? The problem is, hopping between locations can waste time and cause chaos. When you’re using public spaces, you’re also at the whim of other people.
Solve It: Choosing something more stable and distraction free, like conveniently located serviced offices, is a great way to ensure you have somewhere with consistent Wi-Fi, cleanliness, useful facilities and like-minded people to network with. It’s the perfect way to focus your time and energy for what is often a reasonable cost every month.
“I’ll Do It Myself” Syndrome
If you’re like most new entrepreneurs, you’re probably trying to do everything yourself to save money. Unfortunately, this is actually a big drain on time, and it isn’t all that financially efficient either.
Solve It: Instead of wearing all the hats, consider hiring somebody else to do jobs you either don’t enjoy, don’t have the expertise for, or both. Then, you can focus your time and energy on leading the project and driving the business to success.
No Plan, Just Wing It
Like many entrepreneurs, you’re probably capable of thinking and problem-solving quickly. While this is a brilliant skill to have, it can become a habit to always fly by the seat of your pants.
Unfortunately, this can lead to missed deadlines, bad customer service, and other time management disasters.
Solve It: Take a few minutes at the start of every day to map out what you intend to get done. Coordinate these efforts with the overall direction outlined in your business plan, and you’re golden.
Endless Meetings
There are over 50 million meetings happening every day, and at least 50% of them accomplish little to nothing.
Solve It: Cut those meetings out and be more efficient with email and messaging on project management apps. You can, of course, have virtual meetings and calls when needed, but as a general rule, those meetings shouldn’t be the first option because they use up a lot of time you could be utilising in better ways.
Perfectionism Paralysis
As you have the drive and dreams to be an entrepreneur, you probably also have perfection paralysis. You’re not accepting good enough, and instead, are constantly wanting 110% from everything, which is such a drain on time.
Solve It: Accept that giving great results consistently is much better than obsessing over tiny details that won’t mean much to clients or customers in the long run. If you’re a perfectionist, here’s a shocking truth: your 80% probably already exceeds client expectations by a mile.
Neglecting Yourself
You are at the helm of your business, which means that you need to take care of yourself. Sure, it is tempting to stay up all hours, never have a break, and essentially sell your soul to make your business work. However, your business will not be successful without you, so you have to be reasonable.
Solve It: Take breaks, nourish yourself, and prioritise your peace to avoid burning out. You’ll be more efficient and productive as a rested, healthy entrepreneur.
Time is one of your most precious resources as a new business owner. By avoiding the common time management disasters above, you can free up time and energy to focus on what really matters—helping your business lay down solid roots.
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